Compliance Director (Banking) manages operations to identify and respond to suspicious activity violating current anti-money laundering (AML) regulations as defined in the US Bank Secrecy Act (BSA) or other governmental anti-terrorist financing programs. Implements oversight systems, interdiction software, and audit processes to perform daily transaction monitoring and identify suspicious activity patterns. Being a Compliance Director (Banking) monitors activity and ensures adherence to Know your Customer (KYC) protocols and regulatory requirements for required filings and reporting. Leads investigations of suspicious activity to pursue corrective actions and ensure completion of required filings. Additionally, Compliance Director (Banking) maintains extensive knowledge of financial regulations, risk management best practices, and changing fraudulent trends to develop and implement appropriate compliance procedures. Delivers compliance training with up-to-date regulatory information and procedures to develop and guide well-informed staff. Typically requires a bachelor's degree. May have the Certified Anti Money Laundering Specialist (CAMS) certification. Typically reports to a director. The Compliance Director (Banking) typically manages through subordinate managers and professionals in larger groups of moderate complexity. Provides input to strategic decisions that affect the functional area of responsibility. May give input into developing the budget. To be a Compliance Director (Banking) typically requires 3+ years of managerial experience. Capable of resolving escalated issues arising from operations and requiring coordination with other departments. (Copyright 2024 Salary.com)
General Summary
Responsible for facilitating and assuring the compliance requirements of the Credit Union by administering, enhancing, and executing the Credit Union’s Compliance and Regulatory policies and programs. Provide compliance, policy, and procedure management to ensure associates maintain high standards and Credit Union operations. Offer a training-based approach to the compliance function and integrate changes/enhancements.
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Disclaimer
The above information has been designed to indicate the general nature and level of work performed by associates within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities and qualifications required of associates assigned to this job.
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