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Regulatory Compliance Risk Senior Associate

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  • Job
    Full-time
    Junior & Mid Level
  • Banking & Finance
  • $99.4K - $149K
  • New York City

Requirements

  • Bachelor’s degree in Accounting, Economics, Finance, Information Technology, Risk Management, or related field required
  • Minimum 2 years of related work experience working in compliance, risk or internal audit departments at commercial/retail banks or other financial institutions, in a similar consulting practice required
  • Proven technical ability handling compliance issues, CRCM certification preferred
  • Compliance risk management, audit, or risk management, background highly preferred
  • Knowledge of consumer protection principles, compliance management systems, compliance risk management, consumer protection laws (TILA, ECOA, RESPA, Flood Insurance, HMDA, FDCPA, FCRA, UDAAP, TISA, EFTA, EFAA, SCRA, MLA, Privacy, Fair Lending, etc.)
  • Understanding of consumer financial products and disclosures, including transaction accounts, savings deposits, time deposits, prepaid cards, mortgages, home equity loans/lines of credit, credit cards, auto loans, student loans, personal loans/lines of credit and overdraft services
  • Knowledge of operational processes, systems, and controls relating to consumer financial products
  • Practical experience involving compliance testing, compliance audits, compliance training, data analytics at banks and financial institutions of various types and sizes
  • Familiarity with regulatory guidelines including but not limited to CFPB, FDIC, FRB, OCC, and NCUA compliance examination procedures
  • Strong oral and written communication, organizational, technical, and analytical skills
  • Excellent teamwork and collaboration skills
  • Can travel as needed

Responsibilities

  • Conduct engagement activities including transactional testing, policy, and procedure review, meet preparation, walkthroughs, etc.
  • Conduct testing activities for Consent Order Validation and independent monitoring engagements, responsible for execution of testing to validate clients address issues identified and meet requirements set forth by regulators
  • Conduct risk assessment and Consent Order validation testing activities
  • Facilitate client meetings, performing data analysis and document review, and articulating findings in a written report
  • Complete workpapers and final deliverables including but not limited to gap assessments, test scripts, planning memos, evaluation memos, preliminary and final report
  • Participate in the creation and tracking of proposals, engagement work plans, timelines, budgets, project management, resource allocations, and other business development activities as appropriate
  • Research, analyze, and understand current marketplace issues and emerging regulatory requirements and guidance
  • Manage and minimize engagement risk by proactively identifying issues and recommended courses of remediation
  • Maintain active communication with clients to manage expectations, ensure satisfaction, and become a trusted business partner
  • Other duties as assigned

FAQs

What qualifications are required for the Regulatory Compliance Risk Senior Associate position?

A Bachelor’s degree in Accounting, Economics, Finance, Information Technology, Risk Management, or a related field is required. Additionally, a minimum of 2 years of related work experience in compliance, risk, or internal audit departments at commercial/retail banks or other financial institutions is necessary. Proven technical ability handling compliance issues and a CRCM certification is preferred.

What are some key responsibilities of a Regulatory Compliance Risk Senior Associate?

Some key responsibilities include conducting engagement activities such as transactional testing, policy and procedure review, conducting risk assessment and Consent Order validation testing, facilitating client meetings, completing workpapers and final deliverables, researching current marketplace issues and emerging regulations, managing engagement risk, and maintaining communication with clients.

What knowledge and skills are required for this position?

Knowledge of consumer protection principles, compliance management systems, compliance risk management, consumer protection laws, and regulatory guidelines is essential. Practical experience involving compliance testing, compliance audits, compliance training, and data analytics at banks and financial institutions is also important. Strong oral and written communication, organizational, technical, and analytical skills are required, as well as excellent teamwork and collaboration skills.

Is travel required for the Regulatory Compliance Risk Senior Associate position?

Yes, candidates should be willing to travel as needed for this position.

What type of financial institutions or organizations does the Regulatory Compliance Risk Senior Associate typically work with?

The Regulatory Compliance Risk Senior Associate may work with commercial/retail banks or other financial institutions of various types and sizes.

Audit, tax and advisory are just the beginning.

Accounting
Industry
5001-10,000
Employees
1924
Founded Year

Mission & Purpose

Grant Thornton LLP provides audit, tax, and advisory services to clients across various industries. Their ultimate aim is to deliver tailored, innovative solutions that help businesses navigate challenges, enhance performance, and achieve sustainable growth. Grant Thornton's purpose is to build lasting relationships by offering personalised expertise, fostering trust, and making a positive impact on clients' success.