Financial Crimes Compliance & Risk Advisor (Contract-To-Hire)
Location: CA, MA, NY, CO, UT, WA, OR, TX, NC, GA or VA, OR
Pay: $50.00 - $100.00 /Hour
Name: Rhonda Galloway
Banking client seeks Financial Crimes Compliance & Risk Advisor for a senior position in the Corporate Compliance Department that will report directly to the Deputy Chief Compliance Officer. Primary responsibilities will include providing advice to the first line of defense regarding regulations pertaining to Fraud, Identity Theft Red Flags, FFIEC IT Handbook, and other financial crimes regulations such as foreign corrupt practices act, bank bribery act, etc.
The advisory function is critical to keeping management informed on the laws, rules and standards applicable in the financial crimes area.
The Financial Crimes Advisor is specifically responsible for advising business leaders across the organization on regulatory requirements, emerging regulatory risks, and on regulatory considerations with respect to that business line. Additionally, the Advisory function provides training, and regularly communicates in writing and verbally to the business. Further, the Compliance Director participates with members of the Corporate Compliance Department to produce and update an enterprise-wide Compliance Risk Assessment and he or she monitors, evaluates and reports on proposed regulatory changes potentially effecting the organization.
About Solomon Edwards Group Consulting
Solomon Edwards is a specialty consulting firm that offers our clients customized consulting solutions, ranging from fully managed, on-site delivery solutions to independent consultant engagements. We help our clients solve their critical business issues by providing seasoned, targeted consulting expertise tailored to our client's unique needs.
Due to the fast paced nature of the regulatory and business environments, the position requires the ability to quickly adapt to change and to multi-task various assignments. The individual must be able to provide compliance guidance that balances both regulatory requirements while meeting business objectives. The individual will exercise judgment within defined procedures and practices to determine appropriate action.
· Provide subject matter expertise with regard to relevant financial crimes laws and regulations to bank’s business units. Must be able to identify applicable compliance requirements, and articulate those requirements to the business unit.
· Collaborate with international colleagues to implement enterprise-wide programs, and ensure consistency in standards.
· Communicate with business partners verbally, and in writing, regarding regulatory expectations. This includes provide advice and guidance to the first line of defense on its controls to reduce the inherent risk.
· Partner with the business unit in preparation for internal audits and examinations, including any remediation resulting from audits and exams.
· Develop reporting metrics for Senior Management to show insight into the state of compliance for financial crimes, and monitor business unit metrics.
· Participate and provide effective challenge to the Risk and Governance team on the Fraud, Compliance, and AML risk assessments.
· Provide guidance to business units on changes to new products, services, and geographies.
· Develop enterprise-wide compliance policies, and review business unit procedures.
· Review and provide training to the business unit on financial crimes requirements.
· Provide recommendations for implementing controls and other risk mitigation measures to addresses existing and emerging frauds risks as well as fraud related regulatory requirements.
· Evaluate the business unit processes and controls to identify vulnerabilities and provide recommendations for developing controls.
· Minimum of 5-7 years of banking, risk management, or audit experience with a minimum of 5 years of experience related to financial crimes or compliance management processes.
· Demonstrate strong knowledge of financial crimes risks and the prevention and mitigation processes and controls.
· Knowledge of the risk and governance standards such as COSO framework, and the OECD and Basel Corporate Governance Principles.
· Familiarity with fraud and fraud related regulations such as FCPA, BBA, Reg V, etc.
· Knowledge and experience of working with fraud tools and technologies in a banking/financial services environment that may relate to detection tools, investigation tools, and case management systems.
· Must have understanding how fraud risk affects and integrates with SOX framework, operational risks for CCAR, and ERM frameworks.
· Excellent written and verbal communication skills.
· Strong understanding of the Compliance Management Systems and the regulatory frameworks that apply to financial institutions.
· Good understanding of regulatory requirements that apply to the financial services sector and banking operations.
· Ability to assess processes to identify key controls.
· The individual will need the ability to work independently, take initiative and have strong verbal and written communication skills.
· Good time management and attention to detail are critical to this position.
· Good analytical, research, organizational, and project management skills. Strong individual contributor with the ability to work effectively as a team.
· Flexibility in learning new topics, handling change and deadlines
· Familiar with corporate governance standards.
· Must possess a bachelor’s degree in Business Administration, Accounting, Finance or equivalent.