Financial Institution Compliance Analyst

Embark on a rewarding career with the State of Indiana, one of the largest employers in the region, offering a wide array of opportunities across numerous agencies. Here, you will discover competitive salaries, an extensive benefits package, and a dedication to maintaining a healthy work-life balance. Most importantly, you will have the opportunity to make a significant and measurable impact on the lives of residents throughout Indiana.

At the State of Indiana, we prioritize diversity and inclusion, striving to create a welcoming, accessible, and equitable workplace that reflects the demographics of our population. As a proud equal opportunity employer, we provide reasonable accommodations to assist individuals with disabilities in completing the application and interview processes, as well as performing essential job functions.

About the Department of Financial Institutions:

The Indiana Department of Financial Institutions (DFI) is dedicated to fostering growth and prosperity within local Indiana communities through effective and sensible regulation.

The DFI is in search of qualified candidates to thrive in a dynamic and high-performing environment, with a clearly defined career trajectory and ample opportunities for advancement within the organization. Examiners in the Bank / Credit Union Division are tasked with:

Evaluating financial performance.
Identifying relevant financial, operational, and regulatory risks.
Assessing risk management and mitigation strategies.
Collaborating with executives and board members, as well as representatives from federal regulatory bodies.
Traveling across Indiana to evaluate state-chartered financial institutions.

The DFI seeks individuals with expertise in the following areas:

• Financial analysis
• Credit risk evaluation
• Problem-solving
• Operations of financial institutions
• Most importantly, the DFI is looking for candidates who are passionate about enhancing the health of the State's financial system.

Role Overview:

This position will assist in evaluating the safety and soundness of Indiana's state-chartered banks and credit unions, focusing on financial performance, inherent risk levels, and risk management practices. The role is crucial in ensuring that financial institutions operate safely and soundly, protecting consumers from the loss of their deposits and supporting a robust Indiana economy. Examiners will navigate a dynamic and rapidly changing environment, assessing individual financial institution risks amidst evolving economic conditions.

As a financial institution examiner, you will work both independently and collaboratively to carry out various examination-related tasks aimed at determining a financial institution's solvency and compliance with state regulations. You will develop and implement examination plans based on information gathered during off-site monitoring activities. Additionally, you will serve as an Examiner-In-Charge for various financial institutions, engaging directly with senior management teams and boards of directors. This position will also involve collaboration with federal examiners.

Some travel (including overnight stays) will be required, primarily within Indiana.

Salary Information:

Salary will be determined based on the candidate's relevant job and educational experience. The starting salary for an examiner with limited relevant experience is $53,222, with potential for upward adjustment based on experience and skills. Senior examiner positions can exceed $80,000, depending on qualifications. The Department utilizes multiple examiner-level classifications based on experience and skills, providing numerous promotional opportunities based on performance.

The essential functions of this role include:

• Conducting examinations on institutions of significant size and complexity.
• Serving as an Examiner-In-Charge for Safety and Soundness examinations of large and complex institutions, particularly those showing financial or operational weaknesses.
• Submitting examination plans that reflect the institution's condition and risk profile.
• Overseeing examination staff to ensure adherence to established procedures.
• Providing timely Reports of Examination that are analytically sound and free of major errors.
• Making accurate ratings determinations and developing corrective action plans.
• Conducting loan reviews to identify credit risks.
• Acting as the Central Point of Contact for complex institutions, recognizing and analyzing risks and trends through effective monitoring and communication.
• Coordinating on-site visits as necessary and attending exit meetings with management.
• Performing asset quality reviews and evaluating credit risk management systems.

Consumer Credit/Bank Compliance:

• Conducting examinations related to compliance with state and federal consumer credit laws.
• Evaluating compliance for various entities, focusing on complex State Chartered Depository Institutions and other financial service providers.
• Serving as an Examiner-In-Charge to assess compliance with applicable statutes and regulations.
• Preparing accurate examination reports and discussing findings with management.
• Assisting organizations in achieving compliance with laws and recommending procedures for ongoing compliance.
• Reviewing work produced by other staff and providing constructive feedback.
• Understanding and interpreting relevant state laws and regulations.

The job description is not intended to cover all activities, duties, or responsibilities required of the employee. Other responsibilities may be assigned as needed.

To be considered for this position, you must meet the following requirements:

• Ability to complete agency-specific training programs.
• Comprehensive knowledge of computer applications, including examination software and internal systems.
• Understanding of accounting principles and banking operations.
• Capability to conduct and prepare examination reports.
• Ability to interpret laws, regulations, and policies related to assigned areas.
• Strong analytical skills to interpret data and records.
• Effective communication skills, both verbal and written.
• Ability to engage tactfully with institution managers and staff.
• Willingness to travel within the State as required.
• Bachelor's Degree in Accounting, Finance, or a related field (substitutions may apply).

This role may involve supervisory responsibilities based on agency needs.

Benefits of Employment with the State of Indiana:

The State of Indiana offers a comprehensive benefits package for full-time employees, including:

• Multiple medical plan options, including RX coverage, along with vision and dental plans.
• Wellness Rewards Program to earn gift card rewards.
• Health savings account with state contributions.
• Flexible work scheduling options, including potential hybrid remote work.
• Deferred compensation account with employer match.
• Fully-funded pension plan options.
• Generous leave policies, including paid new parent leave and community service leave.
• Combined paid vacation, personal, and sick leave time off.
• Paid holidays.
• Education Reimbursement Program.
• Group life insurance.
• Referral Bonus program.
• Employee assistance program for behavioral health support.
• Qualified employer for the Public Service Loan Forgiveness Program.
• Free parking for most positions.
• Access to LinkedIn Learning.

Equal Employment Opportunity:

The State of Indiana is an Equal Opportunity Employer, committed to recruiting and promoting employees based on individual ability and job performance. We ensure equal employment opportunities for all individuals without discrimination.

If you are a qualified individual with a disability and require accommodations during the application process, please reach out for assistance.

The State of Indiana fosters a culture of equity, inclusion, and opportunity for all employees and applicants. We encourage individuals with transferable skills to apply and look forward to reviewing your application.