How to Become a Compliance Analyst (Banking)
Step 1: Understand the job description and responsibilities of a Compliance Analyst (Banking)
What does a Compliance Analyst (Banking) do?
A Compliance Analyst (Banking) monitors customer accounts and researches transactions to identify suspicious activity violating current anti-money laundering (AML) regulations. Uses customer data mining and software tools to identify suspicious activity patterns. Being a Compliance Analyst (Banking) reviews daily Currency Transaction Reports (CTR) and Questionable Activity Reports (QAR), and submits Suspicious Activity Reports (SAR) as appropriate. Ensures adherence to Know Your Customer (KYC) protocols. Additionally, Compliance Analyst (Banking) may lead or participate in investigations of suspicious activity to pursue corrective actions and ensure completion of required filings. Keeps abreast with regulatory changes, risk management best practices, and trending methods used by fraud perpetrators. Delivers compliance training with up-to-date regulatory information and procedures to develop and guide a well-informed staff. Understands banking regulations such as the US Bank Secrecy Act (BSA) or other governmental anti-money laundering laws. Typically requires a bachelor's degree. Typically reports to a manager. The Compliance Analyst (Banking) occasionally directed in several aspects of the work. Gaining exposure to some of the complex tasks within the job function. To be a Compliance Analyst (Banking) typically requires 2-4 years of related experience.
Were seeking a Compliance Program Manager with expertise in banking, fintech and/or payments products to help develop & implement compliance & regulatory programs, including risk assessment, control assessment & design, training, policies & procedures, complaint management, & 3rd party/vendor management.
The role will report into the Director of Compliance.
IBD covers a wide variety of clients and industry sectors and advises these clients on an array of investment banking activities, including equity, debt and convertible financings, bank loan financings and M&A and other strategic transactions.
The candidate will be an integral part of the IBD Compliance team, which is responsible for addressing a diverse array of regulatory, legal and business issues encountered by Goldman Sachs bankers.
In addition to working collaboratively with fellow team members , the candidate will regularly interact with IBD business professionals, other compliance teams and other Goldman Sachs departments, including Legal, Internal Audit, Finance, Operations, Technology and the Business Selection and Conflicts Resolution Group.
Step 2: Learn best tips to become a Compliance Analyst (Banking)
Best tips for those who want to become a Compliance Analyst (Banking)
Here are some tips to become a Compliance Analyst (Banking).
Step 3: View best colleges and universities for Compliance Analyst (Banking)
Best colleges and universities for Compliance Analyst (Banking)
- Florida Southern College
- Colby College
- Dartmouth College
- University of Notre Dame
- Western Washington University
- Canisius College
Step 4: Think about whether is it worth to be a Compliance Analyst (Banking)
Is being a Compliance Analyst (Banking) Worth it?
Work with the Director, Corporate Compliance and/or the Compliance Manager as needed to prepare….
3+ years compliance experience in the banking or consumer lending industry preferred.
As a Compliance Analyst, you will have the ability to use critical thinking skills to review, develop, and monitor internal processes to ensure compliance with….
Assist in the compilation of Electronic Banking trends and statistical reporting to Board of Directors and/or their designee, ERMC and Senior Management.
Actively ensure compliance with the Bank's Business Standards of Conduct and all Patriot Act, CIP, Anti-Money Laundering, Bank Secrecy Act, Information Security and Suspicious Activity Reporting requirements, Regulation E, NACHA ACH Rules, OFAC, and other regulatory and compliance policies and procedures.
Step 5: Prepare relevant skills for being a Compliance Analyst (Banking)
What skills do you need to be a Compliance Analyst (Banking)?
There are skills required to succeed in every role, and this one is no different. Strategic knowledge of the follow skills will be required: Compliance Management, Internal Controls, Know Your Customer Administration, Regulatory Reporting. For success, a grasp of the following is key: Banking Software, Governance, Risk & Compliance Software. Your ability to stand out from the competition depends on these skills, as well as your resume, interview, and other factors.
Were seeking a Compliance Program Manager with expertise in banking, fintech and/or payments products to help develop & implement compliance & regulatory programs, including risk assessment, control assessment & design, training, policies & procedures, complaint management, & 3rd party/vendor management.
Demonstrated knowledge & application of banking laws & regulations; we may consider candidates who have a strong interest in this area as well.
Demonstrated knowledge & application of banking & or payments operations, operational risks, processes & controls.
Compliance and / or regulatory experience gained within financial services.
Working Knowledge and understanding of all banking….
Step 6: View average salary for Compliance Analyst (Banking)
How much does a Compliance Analyst (Banking) make?
The average salary range for a Compliance Analyst (Banking) is from $65,753 to $84,860. The salary will change depending on your location, job level, experience, education, and skills.
-
View average salary for the United States
-
Adjust salary by state
Average salary for Compliance Analyst (Banking) jobs
Step 7: Find relevant Compliance Analyst (Banking) jobs, and apply.
Looking for Compliance Analyst (Banking) jobs?
Here are some Compliance Analyst (Banking) jobs in the United States.