The Compliance Quality Assurance Lead will support the Compliance Testing Manager in overseeing the Enterprise-wide ongoing identification and monitoring of identified risks as they relate to the BSA/AML functionality at the bank. The QA Lead is responsible for the efficient, timely execution and reporting of the Quality Assurance program requirements. Additionally, the QA Lead will monitor the effectiveness of the corrective action plans put into action by the respective stakeholders. The focus of this role is ensuring the Quality Assurance program is being properly executed as required by the Bank Secrecy Act and as defined by the Bank's Risk Management BSA/AML Department.
* Support Testing Manager in overseeing the workflow of the QA analysts to ensure the proper execution of the Quality Assurance program (generating sample sizes, the cadence of testing, assigning of test cases, tracking of execution and completion, generation of metrics, and status updates). Assign, prioritize, and monitor work (production levels, documentation, quality of reviews) conducted by the Quality Assurance team. Assist management with requests from auditors and examiners, as needed. Apply knowledge of bank standards and regulatory requirements to determine next steps in resolving outstanding issues. Make recommendations to management for improvement in processes related to areas of evaluation. * Work independently and in team environment on assigned tasks and testing areas in a timely and efficient manner, in accordance with the Compliance BSA quality Assurance program. Interact with various stakeholders to provide regular feedback on how improving their work streams to mitigate the identified risks with defined timelines and measurable objectives. Review the results of the quality assurance program and create the reporting summaries and metrics to be shared with the corresponding stakeholders. * Evaluate trends in errors and suggest modifications to business processes as appropriate. At the direction of the Testing Manager, meet with business representatives to discuss appropriate measures for error reduction. Create and present summaries and/or reports of review findings in a concise, professional manner that exhibit factual, unbiased conclusions and require few corrections by management. Support reporting to various levels of management, as needed, in order to relate team productivity and quality. Develop ongoing enhancements to the Quality Assurance program to ensure compliance with Regulatory and Industry practices. These enhancements will consist of updating procedures, testing tools, and tracking mechanisms to keep in line with regulatory and industry practices. * Maintain thorough knowledge of the bank's systems used to conduct processes in-scope for Quality Assurance Team review. Maintain a working knowledge of all relevant rules and regulations. Track the approved corrective action plans by the corresponding stakeholders to ensure effectiveness in improving the quality results by building a tracking program that tracks key milestones and target end date for the completion of the corrective action plan. Provide a defined cadence of the progress of the corrective action plan testing results that is aligned with the time frame along with escalating identified issues to the Compliance Testing Manager.
* Bachelor's degree or equivalent professional experience. * 5+ years of experience in BSA/AML/OFAC compliance, law enforcement, general compliance, audit, or legal areas, with at least 4 years' experience in internal audit, quality control, operations, and/or quality assurance. * Knowledgeable of the laws applicable to anti-money laundering and sanctions compliance, including the Bank Secrecy Act, the USA PATRIOT act, US Treasury AML guidelines, OFAC requirements, and Suspicious Activity Reporting requirements. * Strong working knowledge of banking operations and procedures, including experience with anti-money laundering (AML) and Suspicious Activity Report (SAR) filing, including automated and manual transaction monitoring systems and investigations workflow. * Ability to identify and escalate issues and offer thoughtful solutions to complicated matters * Strong verbal and written communication skills with ability to summarize findings, create reports effectively, and interact with variety of individuals within all levels of the department and the organization. * Ability to effectively communicate with all levels of management, BSA staff, regulators, and examiners. * Keen attention to detail, proven analytical and problem-solving skills. * Desire and ability to oversee a team of individuals, provide mentorship and coaching, and provide a positive working environment. * Skilled leader who can build consensus with other teams, and develop and motivate direct reports. * Ability to manage multiple priorities simultaneously, with a keen interest in process optimization and organizational transformation. * Must possess value-added, decision making ability with sound judgement and professional skepticism. * Ability to identify areas of risk or weakness and suggest or recommend process improvements. * Willingness to be a deadline-driven team player. * Proficient in Microsoft Office and related programs (specifically Word, Excel, PowerPoint, Outlook, SharePoint).
* Experience with a range of Testing and GRC related systems, Archer's GRC, Wolter Kluwer's OneSumX testing application * Experience with a range of FIU-related systems, Fiserv's FCRM a plus * Accreditation from a recognized industry body such as ACAMS, CFE, or similar. * CRCM, CPA, CIA, CFSA, CFE, CFCS certification(s) a plus. * Familiarity with US Treasury OFAC sanctions administration and associated bank processes.
About Investors Bank
Investors Bancorp is a holding company for Investors Bank.