Compliance Analyst (Remote) (Finance)

The Compliance Analyst will report to the aligned Director and/or Manager in the Compliance and Risk Management Department. This role is responsible for performing a variety of duties to assist Inspira Financial Trust with compliance of internal policies and procedures as well as applicable agreements, contracts, laws, and regulations. Accordingly, this role will also assist the business in performing risk management activities, developing, and enhancing controls to reduce risk across the company. Specifically, the Compliance Analyst will be assigned to a team within the Compliance and Risk Management Department, and will focus on one of four areas including Financial Crimes, Investigations, Regulatory Affairs, and Risk Management. The ideal candidate will have an entrepreneurial spirit, analytical mindset, problem solving nature, strong communication skills, and enjoy working in a fast-paced environment within a growing firm.
General Compliance and Risk Management
• Assist with management of incoming requests to the department via Salesforce, Outlook, and Teams
• Cross train and provide backup to other compliance department staff as needed to meet department objectives.
• Develop and present content to various audiences and respond to inquiries from internal business partners.
• Stay up to date with new rules, regulations, and emerging risks to assist in development, implementation and revision of current policies and procedures.
• Assist and support the Manager and/or Director in the design, development, delivery and maintenance of best-in-class Compliance programs, policies, and practices.
• Assist with creating and providing compliance training to employees.
• Foster an environment of teamwork, inclusiveness, and a culture of compliance.
• Other duties as assigned.

Financial Crimes
• Performs a variety of investigative duties to assist with compliance of the Bank Secrecy Act (BSA), Office of Foreign Assets Control (OFAC), USA PATRIOT Act, and other AML program requirements.
• Works independently to conduct analysis and investigations, coordinating with other departments on the identification and reporting of financial crimes, preparing SARs (Suspicious Activity Reports)
• Conduct compliance reviews and analysis in support of MTC's BSA/AML and other regulatory compliance policies and programs including investigating alerts, reviewing client activity, and conducting enhanced due diligence.
• Remain current with industry standards and developments in the areas of KYC, BSA/AML, and OFAC, and apply regulatory requirements and internal policies and procedures to case investigations.
• Review client documents for IRA compliance purposes
• Help Manage incoming items to the Compliance department via email, salesforce, MS Teams, and other forms of communication.
• Other duties as assigned.
Investigations
• Support incident triage and assist in all stages of investigation, as assigned.
• Demonstrate understanding of financial service regulations and privacy laws.
• Demonstrate knowledge of cyber-security investigative principles and process
• Document all assigned investigative activities, prepare written reports, and maintain accurate logs.
• Present incident briefings to leaders and in an accurate and articulate manner
• Other duties as assigned.
Regulatory Affairs
• Performance of monthly claim audits (performance guarantees) and client specific claim audits
• Review authorization documents submitted by participants to determine validity; note participant accounts accurately and timely with authorization information.
• Oversight of temporary employees that review and note authorization submissions. Lead meetings with the temporary employees, respond to their inquiries and perform random audits to ensure quality and accuracy.
• Proactively identify, manage, and resolve product regulatory issues.
• Advise the business on regulatory requirements, such as IRS product compliance.
• Remain current with industry standards and developments for the products which the company provides administration services.
• Assist with management of incoming inquiries to the department via Salesforce, Outlook, and Teams
• Draft and review standard template Cafeteria Plan Documents, Health Reimbursement Arrangement documents and Commuter Benefits documents.
• Assist with member and client complaints and other regulatory requests.
• Provide limited compliance guidance to standard employee questions.
• Provide assistance on other compliance program elements such as awareness campaigns, training, risk management, ethics, and testing functions.
• Assist and support senior staff in the design, development, delivery and maintenance of best-in-class Compliance programs, policies, and practices.
• Assist in the review of applicable risk assessments, policies, procedures, forms, agreements, rules, and regulations to determine compliance and potential risk exposure.
• Pull and analyze claims data for client audits.
• Research, identify, and analyze causes of inefficient practices and assess alternatives with regards to claims processes and procedures
• Maintain an understanding of technology applications, policies, and procedures to effectively identify potential risks.
• Other duties as assigned.

Risk Management
• Conduct annual risk assessments with business partners identifying risks, providing recommendations to mitigate, and monitoring implementation of mitigation measures.
• Review applicable risk assessments, policies, procedures, forms, agreements, rules, and regulations to determine compliance and potential risk exposure.
• Lead compliance testing to assess the effectiveness of internal controls, identify areas of potential risk, and provide recommendations.
• Perform all phases of the compliance testing process, with little oversight, navigating roadblocks, and working on multiple reviews at one time including:
 Present testing announcement with plan and schedule to business partners
 Work with business partners to gather information on processes in walkthroughs and document in flowcharts, assess the adequacy of controls and any potential unmitigated risks.
 Design testing protocol including testing attributes, population, sample method, and testing workpapers.
 Analyze process documentation and account records including transactions, forms and requests, account history notes, call records, and internal processing files.
 Collaborate with business partners to confirm issues identified in testing, perform root cause analysis, and develop action plans.
 Prepare clear and concise testing reports detailing issues identified, recommendations, and action plans. Present reports to business partners and key stakeholders
 Monitor the implementation of testing recommendations and track timely resolution of identified issues.
• Provide guidance and support to the business regarding risk, control, and policy related inquiries.