Compliance Controls Testing Analyst

Apple Bank•Garden City, NY

1d•$150,000 - $170,000

About The Position

The Compliance Controls Testing Analyst supports the efforts of Apple Bank’s Compliance Department by performing evaluations of internal business units, products, and functions to ensure regulatory compliance, effective internal controls, and alignment with established policies. Key responsibilities include periodic monitoring activities, prompt preparation of comprehensive workpapers, and cooperative engagement with multiple departments. The incumbent will be required to communicate proficiently with employees at all levels of the organization, including senior leadership, to perform monitoring and testing activities and evaluate outcomes. Additionally, the Analyst is tasked with cultivating and sustaining a comprehensive understanding of applicable laws, regulations, and regulatory guidance (LRRs) relevant to the Bank’s Compliance Risk Assessment (CRA) system. This includes familiarity with the scope of monitoring and testing activities.

Requirements

Bachelor’s degree required.
7 + years of relevant experience in retail branch management or compliance relative to consumer protection laws and regulations.
Proficient in Microsoft Office and intermediate proficiency in Excel preferred.
Excellent communication skills (verbal + written).
Strong interpersonal skills and must be proficient in interacting with employees at all levels within the organization.
Mandatory training may require occasional travel.
Visa sponsorship not available.

Responsibilities

Execute compliance testing reviews of business areas and products to determine compliance with laws and regulations, as well as internal policies and procedures.
Review departmental policies, procedures and desktop procedures to determine alignment with applicable regulations and completeness and provide recommendations to address identified control gaps and areas of non-compliance.
Design and execute tests of controls and processes to determine level of compliance during reviews; document work performed in clear concise and well prepared workpapers; document incidents of non-compliance for preliminary discussion with first line management as well as internal stakeholders for validation of identified issues.
Prepare draft and final reports for distribution to Compliance Management and stakeholders; evaluate stakeholder developed action plans and proposed remediation timeframes.
Monitor and address identified issues to ensure the prompt execution of agreed action plans.
Identify and document existing controls, assess adequacy of control design, provide rationale to support conclusions; develop test plans to assess control effectiveness; execute test plans and document testing performed and testing results to allow third party review to be performed with limited outside explanation.
Detect control gaps and inform the Head of Compliance Testing and stakeholders of identified issues in a timely manner; validate issues noted with stakeholders to ensure factual accuracy.
Evaluate gaps in testing/monitoring schedule, testing plans, and work paper design to suggest areas for improvement.
Keep up-to-date with changes in applicable state and federal consumer laws, regulations, guidances, and interpretations, and help the Head of Control Testing revise test plans as needed.
Review system implementation test results prepared by first line, evaluate results and determine adequacy of tests performed and documentation provided to support tests.
Collaborate with the Chief Compliance Officer on development of compliance training program for various areas of the bank as necessary.
Assist in monitoring, tracking, and responding to both internal audit and regulatory examinations and findings as needed ("MRAs" and "MRBAs").
Coordinate the collection, distribution, and presentation of materials for monthly Consumer Compliance Management Committee meetings and conduct follow-up actions as required.
Perform other duties as requested.