Compliance Monitoring Job Description
Compliance monitoring
provides support for AML/BSA/OFAC and Fraud risk management and other regulatory compliance as needed.
Compliance Monitoring Duties & Responsibilities
To write an effective compliance monitoring job description, begin by listing detailed duties, responsibilities and expectations. We have included compliance monitoring job description templates that you can modify and use.
Sample responsibilities for this position include:
Coordinate OFAC checks with AML Compliance for OBA requests involving non-profit organizations
Providing assurance in response to new regulations
Identiying and implementing risks and controls for the compliance framework for all non-AML related Compliance
Validating compliance against established policies and procedures and applicable regulations
Review forensic analytic triggers and alerts in response to personal trading activity and market data
Support the units Director in researching and establishing baseline forensic triggers
Recommend adjustments to triggers as needed
Draft and finalize procedural documents, visual aids and workflows as needed
Participate in the development of training materials related to forensic reporting and predictive analytics in SunGards Protegent PTA and its Control Room module
Reconcile data errors related to monitored persons, accounts and securities
Compliance Monitoring Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Compliance Monitoring
List any licenses or certifications required by the position: CAMS, CFE, ACAMS, CRCM, CIA, ASQ, CISA, CPA, AHIMA, CCSP
Education for Compliance Monitoring
Typically a job would require a certain level of education.
Employers hiring for the compliance monitoring job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Administration, Education, Accounting, Finance, Business, Law, Business/Administration, Economics, Financial Services, Legal
Skills for Compliance Monitoring
Desired skills for compliance monitoring include:
Equities
AML
BSA
OFAC/Sanctions and other AML regulatory requirements
Areas of operational risk as appropriate for job responsibilities
Branch operations
CRA/HMDA
Fixed income and derivatives
Lending operations
Regulations
Desired experience for compliance monitoring includes:
Minimum of 10-15 years experience in a Compliance, Audit or Public Accounting function with coverage of financial institutions
Independent - takes initiatives with bias towards action
Perform standard personal trading functions such as trade entry, account updates, preclearance and restricted list updates
Process routine updates to monitoring classifications and send appropriate notifications to the employee and other interested parties
Support the opening and closing of various trading windows
Distribute and track match employee trading reports specific to Merger and Acquisition activity
Compliance Monitoring Examples
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Compliance Monitoring Job Description
Job Description Example
Our innovative and growing company is hiring for a compliance monitoring. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for compliance monitoring
- Receive incoming OBA and PI forms
- Draft and distribute 407 letters and Reverse 407 letters for employee and related accounts
- Track receipt of and review personal/related account statements
- Retain PAD forms/related documentation and ensure maintenance of books and records
- Create employee profiles for all new hires and update existing profiles
- Advise employees regarding the Firm’s PA, OBA and PI policies, as needed
- The plan should meet all relevant regulatory, compliance and internal requirements and provide a platform to help satisfy ad hoc reviews and investigations
- Initiate and complete detailed Thematic and Desk Reviews as outlined in the plan and within the timeline outlined in the plan
- Ensure reviews are of a standard suitable for regulatory and/or internal or external audit review
- Validate document and evidence details of all investigations and findings
Qualifications for compliance monitoring
- Possess the knowledge and ability to identify key compliance controls
- Possess knowledge of CBA businesses and control processes
- Must have strong interpersonal skills, a flexible, collaborative and team-oriented approach to problem-solving and an ability to work in a fast-paced, rapidly changing environment experience working in a globally diverse environment
- An ability to write concisely and clearly
- Liaise with compliance colleagues and the lines of business to verify and ensure that the desk review plan is aligned with existing, pending and projected compliance risks
- Ideally will have previous experience with monitoring and desk reviews
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Compliance Monitoring Job Description
Job Description Example
Our innovative and growing company is looking for a compliance monitoring. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for compliance monitoring
- Create and document
- Assist in the delivery of the annual Compliance monitoring plan
- Liaison with the Business to address substantive matters arising and escalation and presentation of significant issues to senior management where necessary
- Develop recommendations and corrective action to support the Business in addressing Compliance and Conduct risk
- Self-motivated and bring a high level of energy and commitment to the team
- The preparation conduct, reporting and follow-up activities connected to Compliance Testing and Monitoring Unit reviews
- Regular interaction with Advisory Compliance, Internal Audit, Anti-Fraud Unit, Legal
- Performance of Permanent Supervision Controls (self-audit)
- Electronic Communication Surveillance
- Assist in the development and maintenance of risk assessments and departmental procedures
Qualifications for compliance monitoring
- Sufficient work experience within compliance in the banks
- Ideally will have previous experience within Monitoring OR Surveillance
- Ideally with ACA/ACCA qualification
- Big 4 back ground would be advantageous
- Big 4 back ground advantageous & at least 5 years' experience in a similar role / 3 years post qualification
- Strong interpersonal skills & excellent communication (written and oral) skills
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Compliance Monitoring Job Description
Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of compliance monitoring. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for compliance monitoring
- Review communications, legal agreements, and advertising for lending products to ensure there are no violations of laws or regulations
- Develop and deliver periodic status reporting to various leadership and senior management groups
- Contribute to the overall development and execution of the Compliance Monitoring Plan and perform periodic assessments of program success
- Regulatory Reporting – Ensure regulatory trade reporting requirements are met, including reporting of ETD transactions, supporting the Contracts team reporting OTC transactions and monitoring for changes or additional guidance under EMIR
- Counterparty Behaviour Monitoring –Prepare regular monitoring reports on Europe Commercial’s trading activity (for example trading with unapproved counterparties, dormant counterparties, unexpected counterparty behavior)
- Global Business Compliance Support – Assist Business Compliance Europe colleagues with queries relating to trading activities and data analysis
- Escalation- Escalate any suspicious activity immediately in accordance with local procedures
- Management Information - Provide management with regular reports on approved counterparties, requests and the results of monitoring
- Document retention - Keep the documents, data or information obtained for the purpose of applying customer due diligence measures up-to-date
- Assist with the development and implementation of a compliance monitoring and testing program
Qualifications for compliance monitoring
- A minimum of 5 years MCT, Compliance, auditing, regulatory inspection or regulatory risk management/advisory experience within a financial institution, regulator and/or similar environment
- Support the delivery of timely responses to internal audit and external regulatory enquiries
- Work with a diverse, dynamic and energetic team across multiple jurisdictions and product lines
- Experience with database type applications – Palantir and Actimize highly desirable
- 4+ years of financial services consumer compliance monitoring experience
- At least 7 years of experience with security issues, techniques and implications across network infrastructure, Security Information and Event Management (SIEM) platform, and cyber security operations
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Compliance Monitoring Job Description
Job Description Example
Our innovative and growing company is looking for a compliance monitoring. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for compliance monitoring
- Partner with business and operational units to develop understanding of business practices various laws / regulations that impact the various units
- Monitor consumer complaint data for trends that indicate potential compliance risks and collaborate with the YMFUS Legal Department and business units on appropriate remediation and corrective action as necessary
- Develop and generate Compliance department reports at the conclusion of monitoring and testing assessments
- Travel in-state and out-of-state with short notice approximately 10% of the year
- Position will have autonomy in preparing work product but will receive direction and report results to YMFUS Compliance / Legal Department and senior management
- Under the direction of the Capital Compliance Officer, develop and implement a compliance monitoring program for consumer lending
- Monitor regulatory compliance on both a regular and periodic basis, identify gaps in controls, and propose and implement remediations by partnering with business leads and key stakeholders
- Support partner relationships with other companies and financial institutions in the lending program
- Coordinate with business units in the development and implementation of policies and procedures to minimize compliance risks and ensure that compliance-related policies and procedures are being followed and updated as required
- Track consumer complaints and investigate any resulting potential compliance matters
Qualifications for compliance monitoring
- A bachelor's degree and/or over 7 years of bank regulatory compliance expertise
- Take a leading role in the development, enhancement and completion of the Compliance Monitoring Program (CMP), with particular emphasis on I&TS, and
- Support the development of a strong and consistent compliance culture across all areas of the I&TS, CM and WM operations in London
- Hire, train, mentor, develop and retain superior Compliance staff
- Understanding broker dealer trading and account records
- Ability to read, understand and interpret basic accounting reports
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Compliance Monitoring Job Description
Job Description Example
Our company is growing rapidly and is hiring for a compliance monitoring. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for compliance monitoring
- Analyze and evaluate compliance controls, processes and procedures of business lines
- Review business line data to monitor for compliance outcomes
- Communicate to Bank management compliance findings and coordinate follow-up activities
- Draft and issue compliance reports to management in a timely manner
- Identify areas of risk and/or weakness in internal compliance program based on analysis performed and make recommendations for improvement to compliance management
- Serve as a liaison to business units in regards to their specific compliance control process
- Lead and embed a culture of continuous improvement of each business units’ compliance control process
- Perform and coordinate compliance monitoring risk assessments
- Draft, review and issue compliance reports to management in a timely manner
- Multi-task responsibilities outside the bounds of one’s responsible unit
Qualifications for compliance monitoring
- Strong computer skills (e.g., MS Word, Excel, PowerPoint, Outlook
- Working knowledge of US pharmaceutical compliance requirements and statutes
- Strong compliance monitoring experience, ideally within Asset Management, however Investment Banking may be considered
- Strong regulatory risk and compliance management foundation, with minimum of seven years of experience working within a regulated financial institution, consultancy, or regulatory agency
- Strong knowledge of MS Office software especially PowerPoint and other software ( SharePoint) a plus
- Must be able to work well in virtual teams