Compliance Analyst - Private Education Loans

HQ
- Murray, UT 84107

Position Type

Full Time

Purpose:

The Compliance Analyst reports to the VP of Compliance Management and supports the execution of compliance management activities for assigned business lines, including Strategic Partners(“SPs”). This role supports the Bank’s Compliance Management System(“CMS”) by assisting in the development, implementation, and maintenance of compliance policies, procedures, and controls. A key component of this role is supporting compliance with federal requirements governing Private Education Loans, including the specialized disclosure, timing, self-certification, and other program specific requirements of Regulation Z, Subpart F (12 CFR §§ 1026.46–1026.48).

The Compliance Analyst performs compliance reviews, testing, and analysis under the direction of Compliance Management to identify compliance risks and escalates issues across assigned programs, with a particular focus on Private Education Loan products offered through the Bank and its SPs.

Tasks:

• Responds to regulatory questions from business line and SP personnel by researching and interpreting applicable regulations—including those specific to Private Education Loans—and escalates complex or novel issues to Compliance Management.
• Assists with compliance risk assessments of the Bank’s products and services, lines of business, and SPs by gathering data, documenting controls, and preparing draft risk ratings for management review.
• Reviews marketing materials and customer facing correspondence for compliance with federal and state consumer protection requirements—including Private Education Loan disclosure, timing, and marketing standards—and documents findings and recommended revisions for Compliance Management approval.
• Monitors and reports on compliance training completion for Bank and/or SP employees and follows up on overdue assignments.
• Reviews SP annual compliance training content against applicable laws and regulations and documents coverage gaps for management review.
• Supports business lines and SPs in drafting or revising policies and procedures to reflect current regulatory requirements and Bank expectations, with particular focus on Private Education Loan processes such as application, approval, selfcertification, disbursement, and borrower communications.
• Performs compliance testing and monitoring of assigned Loan Programs (e.g., Private Education Loan disclosures, selfcertification, and righttocancel requirements), documenting work papers and results in accordance with Bank testing standards.
• Reviews and analyzes complaints, disputes, fraud, and other reporting metrics for assigned Loan Programs to identify potential compliance concerns, and summarizes trends for management.
• Develops and maintains a working knowledge of assigned business lines, including Loan Programs, SPs, CMS, and operating environments.
• Tracks and documents program changes for assigned Loan Programs and prepares summaries for Compliance Management.
• Tracks open compliance issues and examination, audit, and monitoring findings for assigned programs, and follows up with business lines and SPs on remediation status.
• Completes annual regulatory compliance training assignments by their respective due dates.
• Assists in drafting timely and accurate responses to written customer disputes and complaints, consistent with Bank complaint management procedures.
• Compiles monthly compliance reporting metrics and assists in preparing Board, Audit Committee, and Compliance Committee materials by established deadlines.
• Assists in gathering and organizing documentation in response to regulatory examination and audit requests.
• Monitors regulatory developments, emerging industry trends,…