Senior Compliance Officer

Requisition Number:  95936


Position Title:  Senior Compliance Officer


Position Type:  Full-Time


Position Category:  Audit/Compliance/Legal


Relocation:  No


Job Description: 

The Senior Compliance Officer is responsible for executing the compliance duties and functions ensuring that effective internal controls are maintained throughout the branches as they relate to the operations of RBC Wealth Management New York Branch. This position reports to and works in close coordination with the Senior Compliance Manager. The purpose of this position is to monitor full compliance with the letter and spirit of all applicable U.S. banking laws and regulations, internal policies and procedures, and reports discrepancies to Senior Management.


Requirements: 

- General knowledge of banking products, services, policies, and procedures.
- Knowledge of U.S. banking regulations and laws as they apply to the various banking products, services and departmental functions.
- General knowledge of Consumer Compliance Regulation
- Basic knowledge of banking and securities operations.
- Working knowledge of Microsoft Office tools.


Key Accountabilities: 

1. Administer and execute the Compliance Monitoring Program in accordance with the established schedules for banking reviews for the New York Branch. This includes documenting results of all Compliance Reviews and issuing formal reports to Management in accordance with the RBC Wealth Management USA Compliance Program.

2. Review new and existing clients for CDD/CIP and or EDD for signoff purposes. Analyze and validate corroboration to determine accuracy. Assess risk in new accounts and make appropriate recommendations to marketing personnel.

3. Conduct EDD evaluations and investigations where there is a concern of unusual client activities or transactions. Update and maintain the EDD log and report accordingly to the Senior Compliance Manager.

4. Assist in the review and maintenance of the consumer compliance program to ensure policies and procedures are kept current and that consumer compliance testing reviews are updated regularly to ensure that all regulatory requirements are being evaluated and tested.

5. Review of account transactions on a daily and monthly basis using the bank's transaction monitoring software. Address issues on such transactions with the marketing staff as exceptions exceed profiles, and determine when a manual profile change is warranted. Perform periodical re-profiling of account in ASSIST.

6. On a weekly basis, report to the Managing Director and the Head of Credit all outstanding exceptions in ASSIST greater than 30 days. On a monthly basis, provide the Compliance Analyst and report to RMC the outstanding exceptions over 30 and 60 days in ASSIST.

7. Perform monthly and quarterly review of Wire Transfer Transaction Activity to identify unusual patterns of activity.

8. Perform Account Transaction Testing Reviews to ensure that account activity is in line with client profiles and to identify any unusual activity that will require additional EDD. Perform additional offline Account Transaction Testing Review to monitor for any unusual activity through clients accounts, wire transfers, deposits, and checks that might warrant additional EDD.

9. Perform monthly and quarterly review of Wire Transfer Transaction Activity to identify unusual patterns of activity.

10. Review all possible OFAC name matches. In the event of a match, report to the OFAC Compliance Officer.

11. Periodically assist the RBC Wealth Management Compliance Team in updating and drafting RBC Wealth Management, Compliance related policies and procedures.

12. Administer and execute the Compliance Training Programs to address all policies and procedures, as well as all applicable U.S. laws and regulations. Compile and maintain training materials and conduct training sessions for all new and existing employees in the New York Branch and others as requested by the Senior Compliance Manager.

13. Assist the Senior Compliance Manager with the coordination of all regulatory agency examinations and other external and internal audits to ensure that all compliance issues are adequately addressed in connection with such exams or audits.

14. Review all advertisements, brochures, lobby notices, signs and other promotional materials prior to printing to ensure their compliance with regulations, and ensure that all obsolete and non-complying promotional materials are promptly destroyed, for the New York Branch.

15. As necessary, issue Compliance Alerts to staff regarding new developments in laws/ regulations, internal policy issues and other critical information regarding risk and compliance issues.

16. Participate in ad-hoc compliance projects and other tasks as assigned by the RBC Wealth Management Senior Compliance Manager USA.

17. Ensure that any unusual or suspicious activity identified by any Compliance Team member in performing any job related tasks is reported immediately to the Senior Compliance Manager or in their absence to the Compliance Manager or Compliance Director.


Experience:  Minimum 5 years


Education:  BA/BS


Accreditations: 


Skills: 


Minimum Salary:  Not Available Maximum Salary:  Not Available


We thank all interested candidates however only those selected for an interview will be contacted.

If interested, please apply online at http://track.jobviper.com/ViewJob.asp?id=561799-3-373