Compliance Testing Job Description
Compliance testing
provides strategic vision and recommendations of automation testing, frameworks and the ability to implement TDD across an existing QA team.
Compliance Testing Duties & Responsibilities
To write an effective compliance testing job description, begin by listing detailed duties, responsibilities and expectations. We have included compliance testing job description templates that you can modify and use.
Sample responsibilities for this position include:
Participating in any appropriate regional and/or global Compliance calls to contribute to the Compliance Department’s know-how and experience
Lead the design and delivery of a portfolio of Compliance tests to monitor compliance with Regulation and internal policy
Contribute to global discussions on testing matters, such as setting global templates and sharing best practices
Conducting test checks/ testing reviews – Quarterly/Semi-annual / Annual basis
Understand regulatory /internal compliance requirements
Conduct an analysis of each test check/review and find out the delinquencies/deficiencies or violations of rules, regulations and procedures
Documenting and presenting the finding to the management
Ideating and assisting in designing, engineering and implementation of new test checks/ reviews
Escalate appropriate concerns to business compliance and management
Daily interaction with Compliance colleagues, Testing Management and various supervisory personnel across regions
Compliance Testing Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Compliance Testing
List any licenses or certifications required by the position: CRCM, CPA, ACAMS, HQ, OBD, CAMS, MBA, JD, UL, BOM
Education for Compliance Testing
Typically a job would require a certain level of education.
Employers hiring for the compliance testing job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and University Degree in Education, Business, Finance, Accounting, General Education, Associates, Military, Business/Administration, Management, MBA
Skills for Compliance Testing
Desired skills for compliance testing include:
Tools
Financial products
Ability to create
Evaluate and enhance processes in internal controls
Implement
Ability to leverage that information in creating customized customer solutions
Ability to manage the major responsibilities
Ability to prevent
Accountabilities
Department
Desired experience for compliance testing includes:
Liaise with different stakeholders including but not limited to business partners, external vendors, internal test teams
Work closely with regulatory team to ensure the test plans align to statutory regulations and internal policies and procedures
CRCM, CAMS and/or CIPP Certification (or willingness to pursue)
Ability to analyze and apply consumer regulatory requirements
Analysis of businesses and risk for regulatory compliance, due diligence or auditing
Require outstanding interpersonal skills and must possess a natural inquisitiveness coupled with excellent written and oral communication skills
Compliance Testing Examples
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Compliance Testing Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of compliance testing. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for compliance testing
- Conduct compliance reviews in order to assess and review compliance with legal, regulatory and internal firm policy requirements and work with the business and other stakeholders to design appropriate remedial actions to mitigate identified risks
- Develop and maintain effective partnership with the Front Line Unit, Risk, and Compliance teammates the subservicers and the testing vendor
- Evaluating and documenting results of test work
- Plan inspections and reviews by assessing key risks pertinent to the business, gathering records, developing detailed test plans and analyzing the information to identify control issues
- Supervise team members, as applicable, relating to the completion of testing and the review of documentation
- Support business unit management by researching questions or handling compliance-related issues as they arise, escalating when appropriate
- Working with business compliance officers and management to agree on appropriate action plans
- Writing reports presenting review results, articulating the rationale for findings, the risks posed and actions required to address those risks
- Following-up on action plans to verify that corrective action has been effectively implemented
- Meeting standards for delivering high quality value added compliance risk reviews
Qualifications for compliance testing
- Knowledge of the Volcker Rule
- The job holder is expected to lead the development and management of assurance activities to ensure the Bank complies with OSFI’s E-13 guidelines with minimal guidance
- 5 plus years of compliance, compliance testing, audit or other control function experience and/or relevant analytical skills
- Knowledge of broker-dealer, investment adviser and/or mutual fund/variable product rules and regulations
- Ability to work independently in a team and manage multiple priorities
- Ability to coordinate with other control areas, such as Internal Audit and Risk Management
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Compliance Testing Job Description
Job Description Example
Our company is looking for a compliance testing. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for compliance testing
- Provides analytical support in CIT activities related to Consumer Compliance Control Functions
- Execute detailed testing work programs to ensure compliance with regulatory local regulations and firm policies
- Demonstrate extensive knowledge of bank laws and regulations such as FCRA, FDPA, Reg B, Reg Z, SCRA, UDAAP, SAFE Act, FDCPA, RESPA, Dodd Frank
- Assist in developing a review work plan based on the results of the annual compliance risk assessment, in consultation with the Americas Head of Compliance Testing, the Head of Bank Testing and the Head of US Bank Compliance
- Validating the control testing performed by the business functions regarding the Risk and Control Matrix
- Developing and implementing the email surveillance strategy for Ratings, including the launch of a new surveillance tool in 2016
- Reviewing Risk Reports created by other groups, with the intention of identifying risk themes or trends that should be actioned or otherwise form the basis for future testing or monitoring activity
- Track inspection results for ongoing analysis and trend reporting
- Assist management in the development of the inspection schedules and trend reporting
- Provide ongoing feedback to leaders within Compliance and Sales Management regarding regulatory controls and policy and procedural recommendations based on branch observations
Qualifications for compliance testing
- Demonstrated broad knowledge of legal and organizational matters and the ability to apply knowledge to issues of all levels of complexity
- Ability to organize, direct and perform highly complex analysis
- Demonstrated ability to interpret laws and regulations
- 5-7 years of experience in the combined field of compliance, risk and/or auditing
- Understanding of and experience with regulations related to financial institutions, specifically FCRA, SCRA, Flood, Reg Z, CRA, HMDA
- 7-9 years compliance experience in banking or financial service industry experience and certifications relative to a specific area of concentration
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Compliance Testing Job Description
Job Description Example
Our innovative and growing company is looking to fill the role of compliance testing. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for compliance testing
- Provide training and education to peers and team on ICTT methodology, processes and tools
- Support the Auto and Home Loans Senior Compliance Officer in establishing the annual transaction testing calendar and resource allocation, including expansion of the program—both regulatory requirement and business line coverage
- Leveraging the ICTT Methodology and supporting procedures, lead the timely, accurate design and execution of testing to evaluate business line compliance with requirements
- Maintain an interaction model among stakeholders in the process—business line staff, Corporate Compliance teams, —mobilizing resources to execute testing efforts
- Provide accurate and actionable results of testing activities to Management—both Business and Compliance Senior Leadership
- Perform quality assurance to ensure that test plans are designed and executed accurately
- Ensure timely, complete, accurate response to test design or execution issues identified by 3rd party oversight groups, such as the Corporate Compliance Central Testing Oversight Group, Internal Audit, or the Regulators
- Serve as an approachable and trusted advisor, willing to deliver tough messages to fulfill an independent assurance role
- Stay abreast of industry and regulatory trends--adjusting testing coverage as needed
- Maintain organizational and professional ethical standards, while monitoring compliance with ICTT procedures
Qualifications for compliance testing
- Demonstrated ability to analyze data and understand statistical theories, models and workflows
- Excellent critical thinking skills, collaboration, influencing and communication skills
- Strong computer skills and technical aptitude in how systems interact and support the area internally and externally
- Minimum of 4 years of combined experience with compliance and/or audit experience with a focus on testing..*Minimum 4 years of experience with developing and performing testing .*Minimum 4 years of experience with bank laws and regulations such as FCRA, FDPA, REG B
- Demonstrated experience with regulations impacting consumer banking and/or business unit functions preferred
- Proficiency in analyzing diverse business functions and processes to identify key risks and demonstrated success with implementing control improvement recommendations
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Compliance Testing Job Description
Job Description Example
Our growing company is searching for experienced candidates for the position of compliance testing. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for compliance testing
- Directly manages staff and performs human resource management activities, including identifying performance problems and developing plans for remedial action
- Planning and executing compliance Testing in consultation with regions
- Develop, and execute as needed, Compliance testing programs which define required elements such as key risks, controls/processes, and specific test steps for each applicable area of review
- Prepare draft test reports for completed reviews that are consistent with internal standards (e.g., reconcile to test work performed)
- Review test work papers and test reports completed by staff to ensure conclusions, issues and action plans and work paper documentation are accurate, complete and consistent with the Global Compliance testing standards
- Communicate/escalate test results, including issues and appropriate action plans to Compliance managers in the regional Compliance testing teams
- Ensure timely publishing of draft test reports to the regional management
- Respond to test quality assurance queries from regional Compliance testing teams
- Identify areas requiring attention or findings and assessment of relative risk
- Follow-up on review findings until resolution
Qualifications for compliance testing
- Knowledge of Investments is preferred
- 5 years experience in area of quality and process improvement
- Ability to interact with federal regulatory agencies
- Minimum 4 years of experience with developing and performing testing
- Minimum 4 years of experience with bank laws and regulations such as FCRA, FDPA, REG B
- Strong analytical and problem solving skills, strong verbal communication and interpersonal skills with all levels of seniority
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Compliance Testing Job Description
Job Description Example
Our innovative and growing company is hiring for a compliance testing. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for compliance testing
- Perform management oversight/quality assurance to ensure that test plans are designed and executed accurately
- Ensure timely, complete, and accurate responses to test design or execution questions or issues identified by 3rd party oversight groups, such as the Corporate Compliance Central Testing Oversight Group, Internal Audit, or the Regulators
- Review the work papers completed by your peers as the quality control person for the projects you lead
- Develop and maintain productive relationships with key stakeholders
- Appropriately escalate observations identified through testing projects that are of significant nature or can be determined only with team management’s involvement
- Draft memorandums for completed projects or any other presentations needed to report to Compliance Management
- Follow up with action owners and track the status of the action plans to completion
- Provide training and coaching to other members in projects you manage, as needed
- Lead and/or support a wide array of advisory projects to identify and quantify actual or perceived operational and/or technical control gaps in addition to assisting process owners in associated remediation efforts
- Collaboration with various Compliance stakeholders to ensure the implementation of adequate and effective controls testing programme for APAC that meet both BaFin and local regulatory requirements
Qualifications for compliance testing
- Auditing, testing, regulatory/law enforcement, trading, product control or market risk experience
- Proficiency with Microsoft Word and Proficiency in Microsoft Excel
- Working knowledge and ability to use MS Office applications
- Demonstrated ability to employ judgment and experience to make rapid and complex decisions
- Highly developed interpersonal, presentation, and communications skills (written and oral) and the ability to communicate at all levels of the organization
- Experience within compliance testing in an investment bank