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)
The Director, Compliance reports to the Deputy Chief Compliance Officer. The responsibilities of this role include leading and developing a team managing and performing branch office examinations, managing the Firm’s trade surveillance for both broker-dealer and investment adviser activities, oversee the Firm’s compliance communications, develop and conduct field training, assist with the Firm’s internal controls testing under FINRA Rule 3120 and SEC Rule 206(4)-7 and other projects, as necessary.
This position requires approximately 20-25% travel. The incumbent may also assist with the development and conduct of other Firm-wide training, as necessary.
Essential Duties and Responsibilities
Experience Requirements:
7 years of general Securities Compliance Required, 10 Preferred
5 years of Compliance Auditing
Education Requirements:
Bachelor's Degree required.
Certification & Licensure Requirements:
FINRA Series 7 and 24
Additional Requirements:
Additional securities registrations, including Municipal Securities Series 51 or 53, and Investment Adviser Representative registration are beneficial. State insurance license and insurance industry certifications are also a plus (e.g. CFE, CRCP, IACCP).
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