Prudential Vice President Jobs in Rutherford, NJ

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.

The AVP on the Sanctions and Compliance Audit Team is mainly responsible for supporting the oversight, design and execution of audit coverage for Bank of China's US (BOC USA or the Bank) sanctions program and the regulatory compliance program.

Include but not limited to:

Drive the audit program enhancements to achieve a "Strong" internal audit function and to meet enhanced prudential standards

• Execute the audit coverage of the sanctions regulatory compliance programs.
• Help prepare the audit risk assessments.
• Design and execute audit tests of the sanctions program.
• Perform assigned audits including executing approved audit programs and questionnaires.
• Complete and review audit workpapers covering planning and fieldwork for sufficiency.
• Provide subject matter expertise to assist in the execution of other audits (AML, business, operations, technology) that may have sanctions, AML or regulatory compliance related risks.
• Ensure the delivery of audit findings and IA feedback that is complete, insightful, timely, accurate and concise.

Prompt, oversee and report on corrective actions

• Evaluate management action plans to ensure that they adequately address the audit issues raised.
• Direct and/or perform IA issue tracking and validation of outstanding audit issues.
• Follow-up with the responsible business and compliance managers and their teams to ensure control issues are effectively resolved.
• Coordinate with the key stakeholders to identify emerging issues and thematic or systemic control issues affecting the US operations.

Update the audit strategy and program

• Design and ensure implementation of continuous monitoring of the sanctions and regulatory compliance programs.
• Collect and analyze program related information from regulators, H.O. and Bank.
• Revise the audit work programs.
• Support the update of risk assessments and audit plans.
• Establish and maintain relationships with internal stakeholders of the sanctions and regulatory compliance programs.

Improve audit toolset

• Recommend improvements for departmental performance.
• Partner with data analysts to design and apply re-usable tools to automate testing, sampling, re-performing processes, and exception testing.
• Optimize the use of the audit workflow tool, when available.

Build expert knowledge

• Provide feedback for auditor professional development plans specific to AML and compliance.
• Advise auditors on training alternatives.
• Serve as a key departmental resource on sanctions and regulatory compliance audit procedures to test risks.
• Help cross-train auditors in all aspects of internal audit procedures.

Other

• Assist VP Auditors on regulatory management and external auditor requirements and other information requests.
• Support other departmental initiatives.
• Support the AML Team or other IAD teams as needed.

• Bachelor's degree in Business, Finance, Accounting or related areas is required; Master's degree is preferred
• 4 years of experience and preferably with background in OFAC, sanctions, OCC regulations, and AML, along with technical skills in SQL and Python
• Familiarity with OFAC, the Bank Secrecy Act (BSA), USA PATRIOT Act, and KYC
• Familiarity with consumer compliance, corporate compliance and other bank regulations
• Specific experience using computer assisted auditing tools to improve sampling and test audit assertions
• Capability and willingness to develop staff, including new hires, on technical skills
• Demonstrates excellent communication and interpersonal skills required with ability to present complex and sensitive issues to senior management
• Ability to build rapport with internal stakeholders and examiners
• Experience as a bank examiner, auditor, consultant or compliance professional with a strong understanding of BSA, AML, and OFAC
• Experience in ensuring documentary sufficiency of analytical procedures to support audit standards and bank regulatory expectations
• Proven process manager with an established track record of overseeing and executing multiple deliverables
• CAMs certification or agree to obtain

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