Compliance Risk Analyst
|Reference # :||21-00842||Title :||Compliance Risk Analyst|
|Location :||New York, NY|
|Position Type :||Contract|
|Experience Level :||Start Date / End Date :||07/12/2021 / 01/11/2022|
Day to Day responsibilities:
Contractors will be focused on supporting the design and execution of ICRM milestones and compensating measures to address the Oct 2020 FRB and OCC consent order. Day-to-day responsibilities will vary based on which Transformation workstream they are aligned to (Awareness, Assessment, Action); however, below are expected responsibilities:
Typical BAU JD for ICRM
Key Activities include:
• Directing the design, development, delivery and maintenance of best-in-class Compliance, programs, policies and practices for ICRM.
• Translating ICRM strategy and goals across Major Global Bank's clients, products and geographies in a succinct and clear manner; providing direction and guidance on the programs.
• Managing a team or multiple teams of Compliance professionals. Developing, attracting, and retaining talent; recommending staffing levels required to carry out the unit's role and responsibilities effectively while establishing and adhering to talent management processes and compensation and performance management programs.
• Providing oversight and guidance over the assessment of complex issues, structures potential solutions and drives effective resolution with other stakeholders.
• Overseeing the identification and assessment of Major Global Bank's key compliance risks. Ensuring compliance risks within Major Global Bank are effectively identified, measured, monitored, and controlled, consistent with the bank's risk appetite statement and all policies and processes established within the risk governance framework.
• Provide strategic vision and oversee the day to day business processes for the governance, reporting and quality assurance elements of the Regulatory Inventory and Regulatory Change Management process
• Overseeing the preparation of the RICM submission for the quarterly Group State of Compliance report which includes but is not limited to:
o Designing, developing and producing metrics, dashboards & reporting for first and second line as well as ICRM regarding the regulatory change management operational process;
o Gathering regional, legal entity, country and other groups input for production of RICM information for the State of Compliance reports;
• Direct the design and production of materials for the RICM governance fora to deliver insight and practical solutions to stakeholders as well as credible challenge
• Provide executive level reporting for various management committees, board meetings and other audiences Direct the implementation and execution of a first line quality assurance framework across the RICM lifecycle
• Oversee the development and execution of the RICM-owned MCA activities
• Manage the design and analysis related to new procedure elements, including processes to coordinate the linkage of the Regulatory Inventory and Regulatory Change Management to other elements of the Compliance Risk Management Framework, including the MCA
• Coordinate with the Global Operations, Technology and other RICM teams to implement new procedure elements and execute analysis activities such as calibration of Regulatory Tiers and Materiality Rating
• Developing and establishing firm wide compliance risk management policies and procedures to mitigate risks. Monitors and measures compliance risk through a robust control framework and ensures that reviews are conducted consistently across each entity on a regular basis to confirm that controls identified are operating effectively.
• Working collaboratively with Major Global Bank business/functional line management in recommending, developing and executing on business initiatives within permissible statutory and regulatory frameworks.
• Highly motivated, strong attention to detail, team oriented, organized
• Excellent written, verbal and analytical skills
• Strong communication and interpersonal skills; strong presentation skills with the ability to articulate complex problems and solutions through concise and clear messaging. Ability to interact and communicate effectively with senior leaders
• Significant knowledge and expertise of Compliance laws, rules, regulations, risks and appropriate controls
• Experience in the design and implementation of Compliance programs
• Demonstrated ability to assess complex issues through root cause analysis and other analytical techniques; structure potential solutions; drive to resolution with senior stakeholders
• Ability to influence and lead people across cultures at a senior level using sound judgment and successful execution, understanding how to operate effectively across diverse businesses
• Experience with and previous exposure to internal or external control functions and regulators
• Ability to challenge business management and escalate issues when appropriate
• Strong track record of effectively assessing and managing competing priorities
• Comfort navigating complex, highly-matrixed organizations
• Comfortable acting as an agent for positive change with agility and flexibility
• Effective negotiation skills, a proactive and 'no surprises' approach in communicating issues and strength in sustaining independent views.
• Strong presentation and relationship management skills are essential
• Subject matter expertise in area of focus
o Program development and management; methodology experience; strong problem solving
o Experience managing and directing large global projects
o Regulatory Experience
o Experience overseeing governance and reporting processes
o Experience managing quality assurance processes;
o Attention to detail; analytical abilities;
o Audit/control background or experience controlling quality of completeness of work.
o Experience providing strategic vision for technology solutions
o Strong excel, and powerpoint skills; including ability to develop and produce reports through excel (pivots, vlookups)
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