Operational Assurance Analyst

Job Description

The Operational Assurance Analyst will assist 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

• With the help and guidance of more senior team members, 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.
• Work collaboratively with other assurance functions (e.g., Compliance, Internal Audit) as needed.
• Provide reports on findings and recommendations to Operational Assurance Manager.
• Assist in the 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

EDUCATION & EXPERIENCE

WORKING CONDITIONS / PHYSICAL DEMANDS

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.

Pay Range : $69,794.45 - $90,732.79

The pay range provided is based on what we believe is a reasonable estimate for the pay range for this job at the time of posting.

Actual pay may vary based on experience, skills, and market factors; additional compensation may apply.

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.