~The Compliance Risk Assessment Specialist will be responsible for assisting with the annual execution of the Global OFAC Risk Assessment and the Compliance Risks Assessments for all legal entities understanding the impact of business changes to inherent risk and impact of issue identification and remediation of control weaknesses on the quality of measure ratings, and participating in developing the Annual Compliance Review Plan
Essential Duties and Responsibilities:
Compliance Risk Assessments
Assist in executing the Annual Compliance Risk Assessments including planning, data collection; analysis, evaluation, and reporting Aid in the enhancement of the existing risk assessment framework and reporting process through updates to the assessment methodology and by identifying additional quantitative and qualitative risk and control data points for use in evaluating Inherent Risk and Control Effectiveness Establish and maintain a broad knowledge of business and the regulatory framework Establish and maintain relationships with compliance advisory teams, desk heads, operations and other key business contacts to keep abreast of current business developments and regulatory issues that may impact compliance risks Stay abreast of applicable laws, regulations, and emerging risks for consideration in the risk assessment process. Ensure the alignment of local regulatory expectations with the global methodology and ensure the timely escalation of any identified gaps to management. Develop a process of tracking and monitoring the Compliance-related findings to ensure they are properly reflected in the risk assessment results. This includes understanding the effectiveness and sustainability or remediated findings and providing timely reminders and status reports to relevant parties, and escalating matters to management, if necessary. Prepare periodic reports for presentation to various governance committees and on an ad hoc basis, as required. Contribute to internal department initiatives, such as training, departmental development and other internal projects, as requested. Working with Head Office Compliance, develop a periodic process that would identify changes in the results of the annual risk assessments.
Bachelor's degree; advanced degree (JD, MBA or Master's degree) and/or CIA is preferred. 7 + years of successful prior global AML compliance and audit or testing experience. The experience must include knowledge of compliance laws and regulations pertaining to AML and the global financial services industry. Experience in audit, investigational and/or advisory capacity Must have proven ability to collaborate with others, initiate action, make high impact decisions and respond to a constantly changing regulatory environment. Must be a Self-starter, capable of working under minimum supervision; Problem solving skills – the candidate must demonstrate the ability to identify key issues, obtain appropriate information for further analysis, and develop actionable recommendations Analytical skills – the candidate must be highly analytical with experience in collecting, analyzing, and synthesizing information on various subjects. Strong written and verbal skills; ability to article in writing and verbally the results of compliance reviews