Compliance Officer Job

Compliance Officer Job Description:

The primary objective of the Compliance Officer is monitoring compliance with all applicable laws and regulations, and reporting variances up-the-chain of command for appropriate action, especially anti-money laundering, financial crime and financial fraud. The Compliance Officer function also includes monitoring employee securities trading, prevention of insider trading, management of conflicts of interests and market abuse.

In addition, under general supervision of the Head of Compliance, the Compliance Officer will provide a broad range of routine legal, professional, technical and administrative support services to the Region.

Compliance Officer Job Duties and Responsibilities:

The principal responsibilities include:

• Monitoring the branch’s customers for suspicious activity, including [PAP1] Low, Medium and High Risk customers, employee’s securities trading, etc.
• Tracking, and implementing compliance for all, relevant laws and regulations applicable to the Group’s businesses including especially USA PATRIOT Act, Bank Secrecy Act, OFAC, anti-money laundering, suspicious activities reporting, anti-bribery laws.
• Implementing and establishing policies, procedures and processes the enhanced fully aligned with existing or new U.S. standards (inter alia Bank Secrecy Act, USA PATRIOT Act, OFAC requirements).
• Maintaining an adequate and comprehensive compliance program, including reviewing and editing forms, policies, procedures, plans and controls.
• Ensuring compliance with specific US regulations concerning IT systems, policies and procedures.
• Whether self-initiated or at the request of Senior Management or staff, conducting research of individual regulatory-related matters (i.e., practices, proposals, etc.), identifying and communicating regulatory compliance, deficiencies or potential problems, and providing guidance in the development of alternative solutions or implementation of corrective action.
• Providing written responses (as applicable) to inquiries of a regulatory nature, supporting analysis, conclusions and recommendations upon well-investigated and documented research of regulatory requirements.
• Participating in new product development and providing input regarding compliance concerns relevant to proposed and current products and services offered including electronic delivery services such as the Internet.
• Assisting in transactions involving legal or compliance issues, as well as the investigation and evaluation of special situations at the request of the Head of Compliance.
• Maintaining Department’s processes, files, correspondence, databases, records, certificates, and logs and enforcing the Department’s policies and procedures.
• Assisting the Head of Compliance and Human Resources Head in developing and presenting new training programs.
• Providing assistance to and liaison with outside counsel and Head Office in the resolution of day-to-day issues as appropriate.
• Perform periodic assessments of the Bank’s compliance risk using Bank methodology.
• Maintaining professional growth and development through seminars, workshops, and professional affiliations to keep abreast of latest developments in bank-related areas.

Compliance Officer Job Requirements:

• 2 to 5 years experience directly related to the duties and responsibilities specified. Securities Law Compliance or Fraud Compliance helpful.  JD preferred.
• Experience as a Compliance Officer at a Bank within the US and US regulatory knowledge, project experience.

Knowledge Skills and Abilities Required:

• Excellent oral and written communication skills.
• Excellent database management skills.
• Well-organized, efficient, detail-oriented self-starter, having an ability to handle simultaneously, multiple tasks and changing priorities in an efficient and effective manner.
• Excellent analytical ability, and the ability to research, interpret and understand laws and regulations.
• Able to work independently and within a complex team, environment as well as with all levels of management and staff, clients and counterparties.
• Broad knowledge of, and practical experience with, foreign banks or other financial institution operating areas, functions, products and services and the laws and regulations which apply to foreign banks.