Corporate Compliance Analyst
The Analyst will assist in the management of compliance risk across business lines, monitor bank compliance with applicable regulations and keep management informed of current regulatory developments. This role will support the bank’s financial reporting control compliance framework to ensure the bank is in compliance with regulations and policies relative to the Sarbanes-Oxley (SOX) Act of 2002. In addition, the position will perform risk assessments of the components of the bank’s SOX framework using a top-down, risk-based approach.
Additionally, this role will analyze and monitor controls with particular focus on IT general controls and entity-level controls and their impact on business process controls, as well as provide internal control support and analysis of financial reporting information systems for implementation.
RESPONSIBILITIES INCLUDE:
- Advises management on relevant federal/state agency rules affecting business processes keeping management informed of current developments. Coordinates with business managers who are subject matter experts in their own specialized compliance areas (e.g., SEC, EEOC).
- Monitors through a program of testing bank compliance to regulatory requirements and provides guidance in efforts to remediate instances of non-compliance. Conducts follow up testing and subsequent validation of significant remediation issues as necessary.
- Provides remediation support to business and IT management for internal control over financial reporting deficiencies. Conducts follow up monitoring or testing as needed and ensures subsequent validation of significant deficiencies and material weaknesses.
- Assists in the management and maintenance of key process risk and internal control over financial reporting (ICFR) evaluation and documentation in compliance with SOX requirements. Analyzes key process risk and control evaluations including financial applications, EUC tools, IT general controls, and supporting documentation and engineer changes as necessary.
- Assists in the development of compliance reporting including metrics to senior management and the Board of Directors.
- Coordinates with cross-functional peer group management and staff in key process areas to monitor changes in processes relating to financial reporting and provide technical assistance to IT and business areas in the development of internal control over financial reporting.
- Consults with project development teams by providing internal control requirements and feedback on the adequacy of manual and automated controls for SOX-significant information systems under development or modification.
- Organizes and directs the periodic risk assessments of SOX framework components to ensure they remain current and reflect the bank’s risk of material error in financial reporting.
- Assists in training bank staff on compliance issues in order to raise awareness of the accountability for compliance.
DESIRED QUALIFICATIONS
- Bachelor’s Degree in business administration, finance, or accounting. Advanced degree and CPA preferred or an equivalent combination of education and experience from which comparable knowledge and skills may be acquired.
- Ten years experience required in the field of internal/external auditing/compliance/operations risk or similar control analysis function. Experience at a financial institution and/or an SEC registrant and in governance and compliance functions is preferred.
- Demonstrated experience in the field of project management is required. Ability to prioritize projects, quickly determine the requirements to accomplish them, and analyze the processes to figure out how to simplify, automate, and improve them for increased efficiency.
- A thorough understanding of banking operations, technology, financial concepts and general business theories is required.
- Strong written and oral communication skills. Ability to relate well to all levels of people inside and outside the department.
- High attention to detail and ability to work independently.
- Strong PC skills with Microsoft products such as Excel, Access, Word and Visio.
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