Compliance Analyst

POSITION: Compliance Analyst

Position Summary:

At Cambridge Savings Bank, our purpose is to have a positive impact on our customers, employees, and community's financial well-being. We are committed to exceeding expectations and having a strong commitment to diversity. This position supports the Bank's Compliance Management Program by assisting members of the Compliance team and acting as compliance subject matter advisor to the Bank's consumer deposit (non-lending) banking areas: Retail, Deposit Operations, Electronic Banking, Online Banking, and Marketing. Duties include the following: Monitor changes in deposit and other non-lending federal and state consumer compliance laws, regulations and regulatory guidance and provide appropriate guidance to affected business lines; assist the Compliance team with business line monitoring and testing, implementation of plans for regulatory or product/service changes, and assist business lines with maintenance of current policies and procedures and management of appropriate controls to ensure regulatory compliance. The position will also support the Compliance team's primary points of contact in researching and addressing deposit-related business line compliance questions, assist more senior members of the Compliance team in preparing reports to regulators, management, and any board or internal committees as applicable, and support the entire team with ongoing responsibilities as needed.

Key Result Areas:

* Serve as subject matter advisor for all applicable consumer laws, regulations, and regulatory guidance: monitor changes, enforcement actions, and examination trends; and compile and disseminate information to Compliance team and relevant business lines.

* Maintain the regulatory change management reporting log, which tracks all proposed and final state and federal regulatory changes, regulatory guidance, and best practices.

* Conduct monitoring, testing, or reporting as necessary to fulfill Compliance Management Program objectives.

* Represent Compliance team on Bank-wide project committees, serving as compliance resource to the respective committee for implementation plans related to system, product and service changes.

* Work with business lines to ensure implementation of regulatory changes per implementation plans, including development or revision of policies and procedures, controls, testing, evaluation, and detailed documentation.

* Review regulatory or policy-required forms, notices, disclosures, etc., assisting in their design/development or revision.

* Review and approve marketing and advertising materials/initiatives, including but not limited to brochures, website information, rate sheets, and social media postings, for compliance with applicable laws, regulations, and regulatory guidance.

* Act as liaison between Compliance team and consumer deposit areas of the Bank, helping to maintain a balance between prudent business practices and compliance with relevant federal and state laws, regulations, and regulatory guidance.

* Assist with coordinating and collecting materials requested by state and federal regulatory agencies for Compliance and CRA examinations, internal or external audits, and ad hoc regulatory inquiries.

* Maintain customer complaints log, ensuring documentation of root cause and corrective action, and escalating any patterns or trends to management.

* Attend and participate in Compliance Committee meetings and subcommittee meetings and record meeting minutes.

* Maintain the ADA compliance log and complete any other administrative duties as needed.

* Maintain ongoing and up-to-date knowledge of all relevant legal and regulatory matters through a multi-pronged approach, including but not limited to joining/participating in compliance-related trade associations; communicating with contacts or colleagues at peer institutions; reviewing relevant trade publications, regulatory rulings and interpretations and regulatory and legislative proposals; completing required internal training; and attending external training conferences and webinars.

* Support other members of Compliance team as a back-up resource when needed.

* Perform additional duties as required.

Qualifications:

* At least 2 to 4 years of experience in bank regulatory compliance or audit functions. Knowledge of deposit operations or retail banking a plus.

* Experience reviewing marketing materials for compliance and providing guidance on marketing and sales- related activities.

* Proficiency in interpreting and analyzing the impact of federal and state laws and regulations, with particular emphasis on consumer deposit regulations.

* Experience in developing and delivering compliance training.

* Strong ability to write clearly and concisely.

* Excellent communication skills and ability to foster collaboration and teamwork.

* Proficient conflict resolution skills.

* Strong customer service skills.

* Ability to travel between branch locations.

* Aligned with Cambridge Savings Bank's Core Values.

* Strong working knowledge of Microsoft Office (Word, Excel, Outlook, Adobe), regulatory compliance management systems, and other related software systems.

The above description covers the most significant major responsibilities but does not exclude other occasional responsibilities and accountabilities, the inclusion of which would be in conformity with the major purpose of this job.

Location: Hybrid/Waltham, MA Salary Range: $34.51 - $44.86/hr

The reasonably estimated salary for this role at Cambridge Savings Bank ranges from $34.51 - $44.86/hr. Cambridge Saving Bank will determine actual compensation for the role based on factors including, but not limited to, the successful candidate's skills, qualifications, and experience. In addition, Cambridge Savings Bank offers a wide range of comprehensive and inclusive employee benefits for full-time roles including healthcare, parental planning, mental health benefits, performance bonus opportunities, a 401(k) plan and match, flexible time off, and others.

About Cambridge Savings Bank:

Cambridge Savings Bank is a full-service banking institution with over $7 billion in assets. As a mutual bank, CSB is committed to improving the quality of life of our employees, customers, and the communities we serve. One of the oldest and largest community banks in Massachusetts, Cambridge Savings Bank offers a full line of individual and business banking services across a robust Massachusetts-based branch network and through digital banking solutions for commercial, small business and consumer customers. To learn more about how we can meet your needs, visit us at cambridgesavings.com, or better yet, come meet us to help you make the most out of your banking relationship. Member FDIC. Equal Housing Lender. NMLS # 543370.