Compliance Analyst (Banking), Sr. monitors customer accounts and researches transactions to identify suspicious activity violating current anti-money laundering (AML) regulations defined in the US Bank Secrecy Act (BSA) or other governmental anti-terrorist financing programs. Uses customer data mining and software tools to identify suspicious activity patterns. Being a Compliance Analyst (Banking), Sr. reviews daily Currency Transaction Reports (CTR) and Questionable Activity Reports (QAR), and submits Suspicious Activity Reports (SAR) as appropriate. Ensures adherence to Know your Customer (KYC) protocols. Additionally, Compliance Analyst (Banking), Sr. may lead or participate in investigations of suspicious activity to pursue corrective actions and ensure completion of required filings. Keeps abreast with regulatory changes, risk management best practices, and trending methods used by fraud perpetrators. Delivers compliance training with up-to-date regulatory information and procedures to develop and guide a well-informed staff. Typically requires a bachelor's degree. May have the Certified Anti Money Laundering Specialist (CAMS) certification. Typically reports to a manager. The Compliance Analyst (Banking), Sr. occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. To be a Compliance Analyst (Banking), Sr. typically requires 2 -4 years of related experience. (Copyright 2024 Salary.com)
Language Fluency: English (Required)
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111Please review the following job description:
Responsible for conducting and directing compliance risk oversight and risk management activities to reasonably ensure compliance with the Enterprise Compliance Management Policy and Framework. The Senior Compliance Officer supports the Fair and Responsible Banking Group by providing fair banking consulting, executing risk assessments and other compliance management functions, and partnering with the Fair Banking data analytics and file review teams to identify and potential risk. This role works closely with business partners, audit, legal and other risk partners and provides an opportunity to learn about various first and second line functions.LOCATION:
Please note that candidate must be located in one of the posted locations to be considered for role. HYBRID work schedule - no full remote/telecommute.
ESSENTIAL DUTIES AND RESPONSIBILITIES
Following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
1. Interpret new or existing laws, rules and regulations that are complex and multifaceted and use that knowledge as a subject matter expert to communicate requirements and expectations to assigned areas of responsibility.
2. Analyze existing policies, procedures, processes and controls to determine gaps. Lead or assist in leading compliance initiatives necessary in implementing changes.
3. Analyze and provide guidance on complex compliance actual and emerging risk scenarios within business units and/or functions.
4. Develop Risk Committee materials, including evaluation of program effectiveness, level and direction of risks, key and emerging risks, and status of previously-identified risk and control issues.
5. Communicate with management and regulators with respect to compliance risk management activities and regulatory examinations.
6. Implement strategies and methods related to the compliance risk management framework within the organization, including quality assessments, key risk, and performance measurement data, along with oversight monitoring and mitigation strategies.
7. May manage other Compliance teammates and serve as mentor to other Compliance Officers and Analysts.
8. Partner with LOB leaders and other senior Truist teammates to execute on key strategic initiatives for the company, providing counsel and oversight in a collaborative, business savvy and team-first manner.
Required Qualifications:
The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
1. Bachelor's degree in Business, Economics, Finance, or Accounting, or an equivalent combination of education and work experience
2. Eight years of financial institution experience
3. Five years of direct experience in compliance
4. Demonstrated experience with regulatory agencies, requirements, and/or regulatory compliance.
5. Strong communication skills, both verbally and written, and the ability to communicate and interact with all levels of management
Preferred Qualifications:
MBA, Juris Doctorate, or other advanced degree
Eight years of compliance experience, with five years at a medium to large financial institution
Five years of fair banking experience, including UDAAP and/or fair lending experience
Prior supervisory or management experience
CRCM
General Description of Available Benefits for Eligible Employees of Truist Financial Corporation: All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits, though eligibility for specific benefits may be determined by the division of Truist offering the position. Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates. Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays. For more details on Truist’s generous benefit plans, please visit our Benefits site. Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan. As you advance through the hiring process, you will also learn more about the specific benefits available for any non-temporary position for which you apply, based on full-time or part-time status, position, and division of work.
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