Job Description
Job Details
Description Job Description: The Compliance Testing Officer will be responsible for overseeing the development, implementation, and execution of compliance monitoring and testing programs to mitigate risk and ensure robust compliance practices.
Main Job Tasks And Responsibilities - Design, implement, and manage a comprehensive compliance monitoring program to assess adherence to regulatory requirements, internal policies, and industry best practices.
- Develop and execute compliance testing plans, including risk-based testing strategies to evaluate the effectiveness of controls and processes. Conduct periodic audits and assessments to identify areas of improvement.
- Stay abreast of changes in regulatory requirements and industry standards. Analyze the impact of these changes on existing policies and procedures, and recommend necessary adjustments.
- Prepare detailed reports on monitoring and testing findings, including risk assessments, compliance gaps, and recommendations for remediation. Present findings to senior management and regulatory bodies as needed.
- Work closely with various departments to ensure compliance requirements are integrated into business processes. Provide guidance and support to staff on compliance-related matters.
- Develop and deliver training programs to educate employees on compliance issues, regulatory changes, and best practices.
- Investigate compliance-related issues and incidents, ensuring timely and effective resolution. Implement corrective actions and track their effectiveness.
- Maintain thorough documentation of monitoring and testing activities, including procedures, results, and follow-up actions.
Education And Experience - Bachelor’s degree. Advanced degree or professional certification (e.g., CCEP, CRCM) is a plus.
- Minimum of 5 years of experience in compliance, risk management, or internal audit within the banking or financial services industry.
- Strong knowledge of banking regulations, including but not limited to Regulation B, Regulation E, Regulation DD, Regulation Z, UDAAP, and other consumer protection laws and regulations.
- Proven experience in designing and executing compliance testing programs and managing complex compliance issues.
- Experience with regulatory examination processes and interactions with regulatory agencies.
- Proficiency in compliance management software and tools.
Key Competencies - Excellent analytical skills with the ability to assess and interpret complex regulations and procedures.
- Exceptional written and verbal communication skills, with the ability to present findings clearly and effectively to various stakeholders.
- Strong attention to detail and organizational skills, with the ability to manage multiple projects and priorities simultaneously.
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