Compliance Testing Analyst

Farm Credit Mid-America is a financial services cooperative serving financial needs of farmers and rural residents in Arkansas, Indiana, Kentucky, Missouri, Ohio, and Tennessee. Our purpose is to secure the future of rural communities and agriculture. We are passionate about serving the needs of our rural communities and creating positive customer experiences.

Farm Credit Mid-America is a great place to work! We have been named as a Best Places to Work in Kentucky for the past 12 years. At Farm Credit Mid-America we put our customers and team members at the heart of all we do. 

SCHEDULE: Full Time 

TRAVEL REQUIRED: 0% – 25% 

COMPENSATION: $51,790.00 to $150,980.00 base salary plus potential for variable compensation. Base pay is determined by your skills, qualifications, experience, and location. Farm Credit Mid-America/Rural 1st may compensate outside of the salary range for bona fide reasons not related to membership in a protected class.

About Our Opportunity

Our Compliance Testing Analyst is responsible for furthering the compliance management system by designing and executing the testing and monitoring program. Compliance Testing Analyst monitors compliance with all applicable federal and state regulations and statutes for various business units. This role is also responsible for evaluating the effectiveness of our internal controls.

How You Will Spend Your Time

• Support a comprehensive lending compliance testing & monitoring program to assess Association compliance with internal compliance processes, and existing and/or new statutory and regulatory requirements. Perform testing of transactions and process design. Support testing by including supporting documentation with test files.
• Execute the annual testing and monitoring program. Develop a scope and objective that includes the regulatory requirements within the compliance risk assessment.
• Complete reviews timely and adequately document the evaluation of the effectiveness of the internal controls.
• Maintain a strong working knowledge of Federal regulations applicable to the assigned areas of the review.
• Maintain working knowledge of the CFPB Exam Procedures and Farm Credit Association (FCA) Exam Procedures for assigned areas of the review. Complete testing and monitoring that incorporate applicable regulatory exam procedures.
• Identify and validate issues – during testing & monitoring- to conclude on the effectiveness of the controls to comply with Association policy or applicable regulatory requirements. Discuss potential corrective action plans and provide recommendations for action plan.
• Report results of compliance testing and monitoring to the Senior Advisor Enterprise Control Design and Testing, Director of Compliance, and other senior leaders. Engage with various business team as necessary regarding issue identification, root cause analysis and remediation, with recommended timetables for corrective action. Track and report on corrective action progress.
• Work independently or as part of a team in performing testing of controls related to regulatory requirements.
• May provide consulting services on a limited basis to the Association’s leadership and staff. Provide key input to development of the annual compliance testing plan. Identify risks and independently evaluate the efficiency and effectiveness of internal controls. Maintain all organizational and professional ethical standards.
• Design and execute monitoring reports and processes designed to be proactive indicators of compliance risk. Assist with the creation and reporting of applicable Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs).
• Track findings and resolutions of compliance issues identified from testing and monitoring program; ensure corrective action plans are properly executed to mitigate compliance-related risk to the Association.
• Draft standard and special purpose reports which evaluate the effectiveness of the controls to ensure compliance with Association policy and regulatory requirements.
• Performs other activities as assigned.

In addition to the above responsibilities, Senior Compliance Testing Analysts may lead peers in reviews and prepare testing and project results reports which may be presented to senior leadership.

Seniors may also assist in preparing the annual Compliance risk assessment and plan, as well as prepare and present summaries of testing and monitoring activities to leadership. Seniors serve as a role model and resource for other analysts through mentoring and training. Seniors look for innovative ways to improve processes and share ideas and champions organizational change. 

Minimum Education & Experience

Bachelor’s degree in accounting, finance or related field. Experience in compliance, operational risk management, legal, audit, or regulatory agency background within the area of banking or financial services preferred.

Equivalent combinations of education and experience are acceptable.

Mental & Physical Requirements

Farm Credit Mid-America provides a competitive total rewards package to our team members. This includes an award winning 401(k) Plan. Our Health and Financial wellness benefits provide safety, security and peace of mind for you and your family. Here is a highlight of our Total Rewards and Benefits.

Farm Credit Mid-America is an equal opportunity employer, and all applicants will receive consideration for employments without regard to age, race, color, religion, sex, sexual orientation, gender identity, national origin, veteran status, disability, or any other category protected by law.

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