Compliance Risk Assessments


Madison-Davis Client

Job Description:

  • Assist in enhancing and updating the BSA/AML and OFAC Risk Assessment Methodology, developing the annual risk assessment plan, executing and documenting the risk assessment with supporting documentation and reporting the results to senior management
  • Assist in enhancing Risk Appetite Frameworks, focus on metrics design to help and manage existing and potential compliance risks
  • Maintain effective channels of communication with business and other units to understand BSA/AML and OFAC risks and internal control mitigates for each area
  • Review, identify and document BSA/AML & OFAC inherent risks related to Geography, Products/Services, Customers and Counterparties
  • Perform critical reviews of assigned businesses and other units’ mitigating controls for BSA/AML and OFAC (Controls, Policy, Procedures and Systems)
  • Understand, monitor and incorporate specific BSA/AML and OFAC risks as well as the Bank’s mitigating internal controls relating to customers, products & services, and geographies for assigned business units
  • Conduct both quantitative and qualitative analysis on all the risk assessment factors
  • Assist to execute the BSA/AML and OFAC risk assessments with the goal for the continual improvement of the Bank’s risk assessment methodology and overall compliance program
  • Assist to retain documentation/information and maintain AML Committee meeting minutes related to BSA/AML and OFAC Risk assessment as well as to other AML Compliance matters
  • Assist to maintain Tracker for identified control assessment gaps and coordinate with other stakeholders for resolution of gaps
  • Assist in communication with key stakeholders in bank’s three lines of business and Communicating risk assessment results to senior management, regulators and business lines

Job Requirement:

  • Bachelor’s degree in Business, Economics, Finance or other related field preferred
  • 6 to 10 years of BSA/AML and OFAC related working experience for conducting risk assessment, coordinating with various parties and present to different stakeholders
  • Excellent writing and PPT skills
  • Hands-on experiences in enterprise wide BSA/AML and OFAC risk assessment
  • Chinese language skills are preferred but not required
  • Law degree or CAMS are preferred but not required

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