Legal & Compliance Department-Compliance Monitoring and Testing Group (CMTG) AVP

Introduction:

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

Overview:

The Assistant Vice President performs compliance reviews across the bank to assess compliance with BSA/AML and OFAC, and/or consumer and bank regulatory regulations, rules and requirements. The AVP needs to possess knowledge and practical experience with BSA/AML and OFAC, and/or consumer and bank regulatory compliance regulations, rules and requirements (including so called alphabet regulations), and have experience in compliance testing and/or auditing function. AVP conducts compliance reviews under supervision of a lead tester. Under certain conditions, the AVP may be assigned lead tester of a compliance review.

Responsibilities:

Include but are not limited to:

 

Compliance Testing Program

• Perform compliance testing of the bank’s compliance controls, identify issues and make recommendations, and report the result.

• Identify potential compliance risks and recommend resolutions and/or escalate to appropriate individuals to determine if further investigate is deemed necessary.

• Develop test scripts corresponding to scope of the review under supervision of a lead tester.

• Assess the design and operating effectiveness of the tested controls.

• Collaborate with business lines to develop remediation plans to resolve control weaknesses identified in reviews.

• Track and validate the implementation of remedial actions submitted by the remedial action owners to verify that issues were remediated. Follow up with business owners as necessary.

• Participate in preparation of review reports for Management that highlights the scope, testing approach and results of compliance reviews.

Operational Management

• Perform team’s operational tasks and controls as assigned by the Head of CMTG, such as reporting, time tracking, etc.

Compliance Testing Program Administration

• Monitor regulatory activities and industry developments to identify trends and emerging issues that may have an impact on the bank and the compliance testing program.

• Assist in enhancement of Compliance Review Program.

Qualifications:

• Bachelor’s Degree is required, JD, MBA or Master’s Degree is preferred
• 5 years of work experience in Compliance Testing, Audit or equivalent area within financial services industry
• Knowledge of U.S. Banking regulations and compliance practices, compliance testing and/or auditing processes and practices
• CAMS Certification is preferred but not required

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.

: USD $65,000.00 - USD $150,000.00 /Yr.