LCD-Risk Assessment Associate

3 weeks ago


New York, United States Bank of China Full time

Introduction:

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

Overview:

The Associate will perform comprehensive assessments for compliance risks and controls, including Bank Secrecy Act (BSA)/Anti-Money Laundering (AML), Sanctions, and Product Risk, etc. The individual will also draft and enhance the risk assessment methodologies, procedures and other relevant documents and assist in other responsibilities such as Risk Appetite Framework and New Product Risk Management process.

Responsibilities:

Include but are not limited to

Risk assessment execution

Drafting data extraction business requirement documents
Collecting, conducting data cleaning and analyzing the data of Lines of Business to assess the inherent risk related to the companys customer base, product/services risk and transactions risk.
Assist in calculating control assessment scores to identify gaps and weakness within the bank.
Assessing AML scenarios, transaction alerts, SARs, OFAC rejects and blocks, and other compliance related metrics and reports.
Assist in writing Inherent Risk Assessment reports and identifying risk drivers which are shared with all stakeholders within the company.
Assist in drafting PowerPoint presentation to demonstrate inherent risk with summarization and visualization.
Assist in annual updates on product risk rating methodology and product risk rating process and new product approval process.
Assist in annual updates on country risk rating methodology and country risk rating process.
Assist in Event Triggered data analytics and reviews based on current risk trends and typologies.
Assist in Enterprise-Wide Risk Management process.

Methodology enhancement and reporting

Assist in evaluating the deficiencies noted in the previous risk assessment process and enhancing the risk assessment methodologies based on the analysis.

Assist in developing and enhancing risk reporting, including designing the risk scoring templates, risk distribution charts and metrics, risk modeling that reflect the quantitative risk profiles.

Risk Appetite Framework Execution

Assist in updating Risk Appetite Statement Framework based on Risk Assessment results.

Procedure and process enhancement

Assisting the Head of Risk Assessment to establish standards and procedures for the stages in the risk assessment lifecycle, develop the methodology, and prepare the drafts of such documents referencing regulatory guidance.

Other

Assisting in developing the project scope, milestones and timelines for compliance risk assessment projects.
Documenting the project objects, evidence, and other supporting materials based on the project requirements.

Qualifications:
  • Bachelors degree or the equivalent or a higher degree in Finance, Accounting/Actuarial Science, Economics, Mathematics, or a related quantitative discipline required
  • 0-3 years of Compliance related experience required
  • 0-2 years of BSA/AML laws and regulations and OFAC requirements experience preferred
  • 0-2 years of experience with conducting BSA/AML and OFAC risk assessments in compliance with the guidelines of the FFIEC manual preferred
  • Sound knowledge of Regulatory and Compliance knowledge on BSA/AML and Sanctions preferred
  • CAMS certification preferred


Pay Range

Actual salary is commensurate with candidates relevant years of experience, skillset, education and other qualifications.

:
USD $42,000.00 - USD $90,000.00 /Yr.

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