📌 Core Information
🔹 Job Title: Compliance Testing Analyst (Strategic Partnerships)
🔹 Company: Medallion Bank
🔹 Location: Salt Lake City, Utah (Hybrid)
🔹 Job Type: Hybrid
🔹 Category: Banking & Finance
🔹 Date Posted: April 3, 2025
🔹 Experience Level: 2-5 years
🔹 Remote Status: On-site with hybrid option
🚀 Job Overview
Key aspects of this role include:
- Conducting compliance testing for consumer and small business lending programs
- Monitoring business practices and reviewing documentation
- Communicating findings and supporting compliance-related projects
- Working with federal laws and regulations, following established checklists and testing programs
- Adapting quickly in a fast-paced environment and handling multiple duties simultaneously
ASSUMPTION: This role requires a good understanding of federal laws and regulations applicable to consumer lending, as well as the ability to handle a fast-paced environment with minimal supervision.
📋 Key Responsibilities
✅ Perform assigned day-to-day monitoring and testing of Strategic Partner business practices, policies, procedures, origination systems, marketing materials, customer complaints, program documents, and disclosures for compliance with federal laws and regulations, and Bank requirements, using established testing programs.
✅ Review supporting documentation of tests, findings, and observations.
✅ Communicate and discuss findings and observations with Compliance management.
✅ Compile and maintain workpapers and supporting documentation of tests, findings, and observations.
✅ Document testing results and preparing reporting for the Compliance management team.
✅ Perform monitoring activities and validation of corrective action plans.
✅ Provide support to the Compliance and SP team for other compliance-related projects and initiatives of SP programs.
✅ Assist in the development of compliance monitoring and testing scope and approach of compliance reviews.
✅ Update the Bank’s internal system of record after assigned monitoring and testing are completed.
✅ Stay abreast of federal statutory and regulatory changes related to consumer and small business lending.
✅ Perform any other duties needed to help support and work consistently with the Bank’s values, mission, and goals.
✅ Perform other duties as assigned.
ASSUMPTION: This role involves a high level of detail and organization, as well as strong communication skills to effectively convey findings and observations to management.
🎯 Required Qualifications
Education: College degree preferred or equivalent experience in banking or lending.
Experience: Minimum of one year of regulatory compliance testing or related field experience.
Required Skills:
- Good working knowledge of federal laws and regulations applicable to consumer lending, including but not limited to BSA, UDAAP, ECOA, Fair Lending, TILA, FCRA, FACTA, Privacy, SCRA, MLA, E-SIGN, FDCPA, TCPA, CAN-SPAM, and EFTA.
- Excellent ability to understand and test compliance with federal statutory and regulatory requirements, following established checklists and testing programs.
- Ability to handle a fast-paced environment with minimal supervision and adapt quickly.
- Ability to communicate quickly and respond effectively to feedback.
- Ability to interface effectively with Bank and SP management.
- Excellent written and verbal communication and interpersonal skills.
- Ability to use Microsoft Outlook, Word, Excel, and PowerPoint.
- Self-motivated and hard working. Must be able to handle multiple duties simultaneously, meet deadlines, think critically, and solve problems.
Preferred Skills:
- Banking or SP lending experience preferred, as an employee either of a bank or a non-bank lender.
ASSUMPTION: A college degree or equivalent experience in banking or lending is preferred for this role, as it requires a strong understanding of federal laws and regulations applicable to consumer lending.
💰 Compensation & Benefits
Salary Range: $55,000 - $75,000 per year (Estimated based on industry standards for similar roles in Salt Lake City)
Benefits:
- Comprehensive benefits including medical, dental, vision, disability, and life insurance
- 401K with a company match
- PTO including 11 federal paid holidays off, vacation time and sick time
- Financial Wellness Program
- Volunteer Opportunities
Working Hours: Full-time, 40 hours per week. May require evening and weekend availability based on business needs.
ASSUMPTION: The salary range provided is an estimate based on industry standards for similar roles in Salt Lake City. The actual salary may vary depending on the candidate's experience and qualifications.
📌 Applicant Insights
🔍 Company Context
Industry: Medallion Bank operates in the banking industry, specializing in providing consumer loans for recreational vehicles, boats, home improvements, and offering loan origination services to fintech partners.
Company Size: Medallion Bank has 51-200 employees, which means it is a mid-sized company. This size allows for a more personal work environment while still offering the resources and opportunities of a larger organization.
Founded: Medallion Bank was founded in 2003 and has since grown to serve customers throughout the United States.
Company Description:
- Medallion Bank specializes in providing consumer loans for the purchase of recreational vehicles, boats, and home improvements.
- The Bank works directly with thousands of dealers, contractors, and financial service providers serving their customers throughout the United States.
- Medallion Bank offers loan origination services to fintech partners, demonstrating its commitment to innovation and technology in the banking industry.
Company Specialties:
- Recreational Lending
- Home Improvement Lending
- Strategic Partnerships
Company Website: http://www.medallionbank.com
ASSUMPTION: Medallion Bank's focus on consumer lending and strategic partnerships sets it apart in the banking industry and offers unique opportunities for growth and development.
📊 Role Analysis
Career Level: This role is at the mid-career level, requiring at least one year of experience in regulatory compliance testing or a related field.
Reporting Structure: The Compliance Testing Analyst will report directly to the Compliance Management team.
Work Arrangement: This role offers a hybrid work arrangement, with on-site work required and the option to work remotely for some days.
Growth Opportunities:
- As Medallion Bank continues to grow, there may be opportunities for advancement within the Compliance department or other areas of the organization.
- The diverse range of responsibilities in this role provides ample opportunities for learning and skill development.
- Working closely with various teams and stakeholders can foster networking and mentorship opportunities.
ASSUMPTION: The hybrid work arrangement and diverse responsibilities in this role offer flexibility and opportunities for growth and development.
🌍 Location & Work Environment
Office Type: Medallion Bank's office is a professional environment with a focus on collaboration and teamwork.
Office Location(s): 1100 East 6600 South, Suite 510, Salt Lake City, UT 84121, US
Geographic Context:
- Salt Lake City, Utah, offers a high quality of life with a low cost of living compared to other major metropolitan areas in the United States.
- The city is known for its outdoor recreation opportunities, cultural attractions, and vibrant food scene.
- Salt Lake City is home to a diverse and growing tech industry, providing ample opportunities for career growth and development.
Work Schedule: Full-time, 40 hours per week. May require evening and weekend availability based on business needs.
ASSUMPTION: The office environment at Medallion Bank is professional and collaborative, with a focus on teamwork and open communication.
💼 Interview & Application Insights
Typical Process:
- Online application submission
- Phone or video screening
- In-person or virtual interview with the hiring manager
- Final interview with the Compliance Management team
Key Assessment Areas:
- Understanding of federal laws and regulations applicable to consumer lending
- Ability to handle a fast-paced environment and adapt quickly
- Strong communication and interpersonal skills
- Problem-solving and critical thinking skills
Application Tips:
- Highlight relevant experience in regulatory compliance testing or a related field
- Tailor your resume and cover letter to emphasize your understanding of federal laws and regulations applicable to consumer lending
- Prepare examples of your ability to handle a fast-paced environment and adapt quickly
ATS Keywords: Federal laws, regulatory compliance, consumer lending, strategic partnerships, testing programs, compliance management
ASSUMPTION: The interview process for this role will focus on assessing the candidate's understanding of federal laws and regulations applicable to consumer lending, as well as their ability to handle a fast-paced environment and adapt quickly.
🛠️ Tools & Technologies
- Microsoft Office Suite (Outlook, Word, Excel, PowerPoint)
- Compliance testing software and tools
- Bank's internal system of record
ASSUMPTION: The tools and technologies required for this role are standard for the banking industry and can be learned with minimal training.
👔 Cultural Fit Considerations
Company Values:
- Integrity
- Excellence
- Teamwork
- Adaptability
- Customer Focus
Work Style:
- Collaborative
- Results-driven
- Adaptable
- Detail-oriented
- Strong communication skills
Self-Assessment Questions:
- Do you have a strong understanding of federal laws and regulations applicable to consumer lending?
- Are you able to handle a fast-paced environment with minimal supervision and adapt quickly?
- Do you have strong communication and interpersonal skills, with the ability to interface effectively with Bank and SP management?
ASSUMPTION: Medallion Bank values a collaborative and results-driven work environment, with a strong focus on integrity and excellence.
⚠️ Potential Challenges
- The fast-paced nature of this role may require working evenings and weekends based on business needs
- The detail-oriented nature of the role may require long hours of focused work
- The regulatory environment for consumer lending is complex and subject to frequent changes, requiring continuous learning and adaptation
- The hybrid work arrangement may require occasional on-site work, which may not be suitable for candidates who prefer fully remote work
ASSUMPTION: The potential challenges of this role are outweighed by the opportunities for growth and development in a dynamic and collaborative work environment.
📈 Similar Roles Comparison
- Compared to other compliance testing roles, this position offers a unique focus on strategic partnerships and consumer lending
- In the banking industry, this role offers a competitive salary range and comprehensive benefits package
- Career progression in this role may lead to opportunities in compliance management or other areas of the organization
ASSUMPTION: This role offers a unique combination of responsibilities and growth opportunities, setting it apart from similar roles in the banking industry.
📝 Sample Projects
- Conducting a comprehensive review of a strategic partner's business practices and documentation to ensure compliance with federal laws and regulations
- Developing a testing program to assess the effectiveness of a new compliance management system
- Assisting in the investigation of a customer complaint to ensure proper handling and resolution
ASSUMPTION: The sample projects for this role reflect the diverse range of responsibilities and the importance of attention to detail and strong communication skills.
❓ Key Questions to Ask During Interview
- Can you describe the typical day-to-day responsibilities of this role?
- How does this role support the overall goals and mission of Medallion Bank?
- What opportunities are there for growth and development within the Compliance department or other areas of the organization?
- How does Medallion Bank support work-life balance for its employees?
- What is the company culture like at Medallion Bank, and how does it contribute to employee satisfaction and success?
ASSUMPTION: Asking thoughtful and insightful questions during the interview process demonstrates your interest in the role and commitment to success.
📌 Next Steps for Applicants
To apply for this position:
- Submit your application through this link
- Tailor your resume and cover letter to highlight your relevant experience in regulatory compliance testing or a related field, as well as your understanding of federal laws and regulations applicable to consumer lending
- Prepare examples of your ability to handle a fast-paced environment and adapt quickly
- If selected for an interview, be prepared to discuss your relevant experience and how it has prepared you for this role
- Follow up with the hiring manager one week after your interview to express your continued interest in the position
⚠️ This job description contains AI-assisted information. Details should be verified directly with the employer before making decisions.
