AVP Compliance Tester/Analyst
New York, NY
The purpose of the position is to enhance the team size and independently test the BSA/AML and OFAC programs as well as other Corporate Compliance programs at the Branch. Provide support and assist the team and Branch departments, functions, units and/or executive owners to improve the culture of compliance.
The AVP Compliance Tester will work in unison with the Testing team to ensure that proper compliance and internal controls are in place for the Financial Crime Compliance (FCC), various Corporate Compliance Programs and other Branch Departments responsible for specific Laws and Regulations compliance and administration. The AVP Compliance tester and/or analyst will execute the following under the supervision of the department Head and/or lead reviews independently: 1) Perform compliance end-to-end testing of established programs, processes and/or segments of a program; 2) Execute quality assurance checks/testing of specific high risk processes and/or segment of a compliance program; and 3) Validate findings/issues/recommendations reviewing procedures design effectiveness and operating effectiveness of processes through planning and testing.
Prepare announcing memos, testing plans and budgets.
Develop testing templates (scripts) and activities in accordance with the Compliance Testing methodology for the Branch as a Second Line of Defense.
Execute testing activities providing adequate coverage of the Branch's key regulatory and internal control risks, liaising with compliance team leads.
Perform thorough testing and provide detailed feedback in approved templates and working papers in order to adequately record and preserve the report and information.
Ensure compliance testing activities remain independent.
Remain current on relevant internal control information from regulators and internal auditors.
Work with the Program Managers, the Head of CCD and FCC in creating an effective corrective action plans and support the Branch departments and work streams within the Branch to correct deficiencies found during testing.
Write draft findings and reports detailing the findings noted during testing.
Provide support to the team, areas and functions needing guidance.
Ensure CSI clearance for external consultants is obtained before accessing Regulatory information and reports which are confidential.
Prepare draft reports to inform key stakeholders and Senior Management of the outcome of monitoring and review work, including rating findings and assigning owners or actions.
Partake in classes, trainings, and seminars in order to keep up to date with the latest tools and practices within the BSA/AML/OFAC and other Laws and Regulations applicable to the Branch space which will be integral for effective testing.
Assist management in identifying and containing FCC and Corporate compliance risk.
Contribute to the preparation of consolidated management information on the results of testing for senior management and compliance.
Provide support with the Vendor Management process, as needed.
Contribute to the provision of education and support to compliance testing team specialists on risk assessments, planning and conducting reviews.
Knowledge & Experience Requirements:
Bachelor's degree is required. Master's Degree or CAMs Certification a plus.
Five (5) to eight (8+) years of Financial Crime Compliance, Internal Audit, Operations and/or Regulatory Compliance experience; International Banking experience is a plus.
Ability to communicate succinctly and effectively with operating and divisional management
Excellent interpersonal, communication (written and verbal) and presentation skills
Strong critical thinking, analytical and problem solving skills.
Flexible team attitude, proactive supporting style as well as keen business acumen.
Self-starter and able to independently lead projects cross-functionally.
BSA/AML and OFAC experience and demonstrated Regulatory compliance experience.
Knowledge and/or subject matter expert on Corporate Compliance Regulations for Foreign Institutions.
Theoretical and practical knowledge of processes, risks, financial/operational internal controls and internal controls principles.
Proficiency in identifying and assessing internal control design and operating effectiveness is required.
Proven ability to identify, compile, maintain, and disseminate metrics and MI reporting to senior management pertaining to the Branch's internal controls environment.
Knowledge of Microsoft Excel, Access, and other Office suite software needed.
Staff Supervisory Responsibilities: