Business Controls Analyst - Retail Banking

The Business Controls Analyst – Retail is responsible for providing support of the Retail Operations and Member Experience Business Units (“Business Units”) and for building out the Business Units’ mapping of procedures and policies, evaluating its risk and control structure, and reviewing its compliance responsibilities to identify and mitigate compliance risk to the credit union and its members. This includes support of regulatory change management processes within the Business Unit, collaborating with the second and third lines of defense for their reviews and testing, and performing analysis of member complaints received by the Business Units. The Business Controls Analyst supports WPCU’s Compliance program daily activities by ensuring that credit union activities in the Business Units comply with appropriate laws and regulations, and that the Business Units collaborates with the second and third lines of defense in working through identified issues.

• Supports WPCU’s build out of the first line of defense within the Business Units, and leverages data and information on internal processes, procedures, and complaints, to assess the Business Units against regulatory expectations and requirements, to assess organizational gaps, risks, and controls, and implement mitigating measures. (30%)
• Collaborates with Compliance in supporting WPCU’s regulatory change management process by being a dedicated resource in the Business Units to implement all applicable new rules and regulations, as well as changes to existing rules and regulations, and actions items that come from enforcement actions and other regulatory guidance that impacts the Business Units. (25%)
• Ensures proper policies, procedures, risk mitigation activities, and operating controls are followed.  Reports gaps in policies, procedures, and operating controls to leadership to ensure member impact and risk is mitigated.  (25%)
• Supports the vendor/third party onboarding processes of the Business Units when evaluating potential third parties prior to contract finalization. Also, assists with ongoing evaluation and monitoring of vendors throughout the contract lifecycle while they remain a vendor. (10%)
• Participate in regulatory compliance audits and/or examinations. (10%)

Required Skills

The Business Controls Analyst – Retail has comprehensive knowledge of compliance laws and regulations, federal and state credit union regulations, industry practices, and banking products. The following are also preferred:

• A Bachelor’s degree in a business, financial, compliance, or related discipline, or equivalent experience.
• At least 5 years’ experience in a financial institution with preferential experience in a risk or compliance role.
• Ability to think intuitively and strategically so that the Business Units is enabled to anticipate, plan, and effectively execute to mitigate compliance risk.
• Highly developed analytical, organizational, and strategic planning skills. Ability to take decisive action.
• Must be able to evaluate and solve problems from multiple perspectives.
• Highly proficient in Visio.
• Excellent written and verbal communication skills; and
• At least 5 years’ experience with Retail Banking and deposit operations experience, such as experience with payments (ACH, wire, cards, etc.), payment systems, Retail Banking processes and procedures, check processing, or ATM and branch services.

Required Experience