Operational Assurance Sr. Analyst

Company: Needham Bank
Location: Wellesley
Posted on: January 20, 2025

Job Description:

Operational Assurance Sr. Analyst








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Job Description
The Operational Assurance Sr. Analyst will play a critical role in executing quality assurance reviews to provide oversight and monitoring of high-risk activities, including but not limited to due diligence for high-risk customers, Bank Secrecy Act/Anti-Money Laundering (BSA/AML), and cannabis banking.
The position reports to the Operational Assurance Manager and is responsible for executing on the Bank's high-risk monitoring program to ensure compliance with regulations and internal policies and procedures. The Operational Assurance group performs quality reviews over the first line's due diligence documentation and analysis of proposed and current high-risk customers, verifying compliance with Bank policy and assessing whether those customers align with the Company's Risk Appetite.
ESSENTIAL DUTIES & RESPONSIBILITIES

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• Execute on the quality control process for high-risk customer onboarding and continued monitoring, ensuring that business lines have collected all required documentation, properly assessed the risks associated with the customer, and that the customer is within risk appetite.
  
• Conduct targeted reviews of high-risk areas to assess compliance with regulatory requirements and internal policies and procedures.
  
• During the execution of the program, identify and recommend areas of program enhancement to the Operational Assurance Manager, as needed.
  
• Work collaboratively with other assurance functions (e.g., Compliance, Internal Audit) as needed.
  
• Provide detailed reports on findings and recommendations to Operational Assurance Manager.
  
• Assist in the development and execution of reporting to inform Senior Management and the Board on the results of monitoring and improvements needed.
  
• Collaborate with key stakeholders on the Risk & Compliance team to ensure sound risk management practices.
  
  
  
  Experience and Skills
  JOB REQUIREMENTS
  
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  • Highly-motivated and driven professional who can handle multiple, cross-functional tasks, adapt to change, and work well with all levels of management in a dynamic and fast-paced environment - independently and in a team. Superior understanding regulatory/policy requirements and incorporating them into assurance/quality review work.
    
  • Knowledge in banking, BSA/AML standards, and/or auditing practices.
    
  • Desire to continuously learn and improve.
    
  • Customer service oriented and problem-solving skills.
    
  • Demonstrated analytical skills with strong attention to detail, accuracy, and completeness.
    
  • Superior written and verbal communication skills.
    
  • Strong computer and technical skills and the ability to quickly learn and apply new technology.
    
  • Proficient with the Microsoft Office suite (including Word, Excel, PowerPoint, and Visio).
    
  • Demonstrates and promotes high ethical standards and behaviors.
    
  • Maintains a professional manner at all times.
    
  • Exhibits a culture of teamwork, transparency, and collaboration.
    
  • Ability to demonstrate Needham Bank's Core Values (Focus on Customer Relationship, Embrace Change, Work as a Team, Be an Asset to your Community, Always Learn, Do the Right Thing).
    
    EDUCATION & EXPERIENCE
    
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    • Minimum 3+ years' experience in a risk, audit, BSA, or quality assurance function; experience in financial institutions or a regulatory background considered a strong plus.
      
    • Proven management & leadership skills.
      
    • Minimum education requirement: Bachelor's degree
      
    • Professional certification (CIA, CAMS, CRMA, CERP, CBA, CRMP, CPA) or desire to pursue certification preferred.
      
      WORKING CONDITIONS/PHYSICAL DEMANDS
      
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      • Normal business office environment
        
        Needham Bank offers a competitive salary and an amazing benefit package for a full-time employee which includes fully paid medical and dental insurance, HRA, 401(k) plan with an 8% bank match, paid time off (PTO), paid holidays, a bonus program, flexible spending accounts, vision service plan, group term life insurance, short and long term disability insurance, tuition reimbursement, and an Employee Assistance Program. We offer a great benefit package to our eligible part-time employees as well.
        At NB, we are dedicated to building a diverse, inclusive and authentic workplace - if you are excited about this role, but your past experience doesn't align perfectly with every qualification in the job description, we still encourage you to apply. You may be just the right candidate for this or other roles.
        Needham Bank is an Equal Opportunity/Affirmative Action Employer. Needham Bank will provide all applicants for employment and all employees with equal opportunity for employment and promotion regardless of race, color, religion, gender, national origin or ancestry, age, disability, veteran status, military service, sexual orientation, genetic information, or gender identity.
        
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Keywords: Needham Bank, Newton , Operational Assurance Sr. Analyst, Professions , Wellesley, Massachusetts