Legal & Compliance Department-Compliance Monitoring and Testing Group (CMTG) AVP

Overview

The Assistant Vice President performs compliance reviews across the bank to assess compliance with BSA/AML and OFAC, and/or consumer and bank regulatory regulations, rules and requirements. The AVP needs to possess knowledge and practical experience with BSA/AML and OFAC, and/or consumer and bank regulatory compliance regulations, rules and requirements (including so called alphabet regulations), and have experience in compliance testing and/or auditing function.

Responsibilities

• Perform compliance testing of the bank’s compliance controls, identify issues and make recommendations, and report the result.
• Identify potential compliance risks and recommend resolutions and/or escalate to appropriate individuals to determine if further investigation is deemed necessary.
• Develop test scripts corresponding to scope of the review under supervision of a lead tester.
• Assess the design and operating effectiveness of the tested controls.
• Collaborate with business lines to develop remediation plans to resolve control weaknesses identified in reviews.
• Track and validate the implementation of remedial actions submitted by the remedial action owners to verify that issues were remediated.
• Follow up with business owners as necessary.
• Participate in preparation of review reports for Management that highlights the scope, testing approach and results of compliance reviews.
• Perform team’s operational tasks and controls as assigned by the Head of CMTG, such as reporting, time tracking, etc.
• Monitor regulatory activities and industry developments to identify trends and emerging issues that may have an impact on the bank and the compliance testing program.
• Aid in enhancing the Compliance Review Program.

Qualifications

• Bachelor’s Degree is required, JD, MBA or Master’s Degree is preferred.
• 5 years of work experience in Compliance Testing, Audit or equivalent area within financial services industry.
• Knowledge of U.S. Banking regulations and compliance practices, compliance testing and/or auditing processes and practices.
• CAMS Certification is preferred but not required.

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications. USD $65,000.00 - USD $150,000.00 /Yr.