The Compliance Monitoring Analyst plays a critical role within an organization’s compliance function, responsible for monitoring and assessing the effectiveness of the organization’s compliance controls and processes. The analyst conducts reviews, audits, and assessments to identify and mitigate compliance risks, ensuring adherence to applicable laws, regulations, and internal policies.
- Compliance Monitoring: Design and execute compliance monitoring programs to assess the effectiveness of the organization’s compliance controls and identify areas of potential non-compliance.
- Risk Assessment: Conduct periodic risk assessments to identify and evaluate compliance risks associated with regulatory requirements, industry standards, and internal policies.
- Compliance Reviews and Audits: Conduct compliance reviews and audits of various operational areas to assess compliance with relevant laws, regulations, and internal policies. This may include reviewing documentation, conducting interviews, and analyzing processes and procedures.
- Testing and Sampling: Perform testing and sampling of transactions, data, or activities to verify compliance with regulatory requirements, identify control gaps, and assess the adequacy of controls in place.
- Compliance Reporting: Prepare comprehensive and accurate reports summarizing findings from compliance reviews and audits, including identified issues, root causes, and recommended remedial actions.
- Regulatory Compliance: Stay updated with changes in relevant laws, regulations, guidelines, and industry best practices to ensure compliance programs are aligned with current requirements.
- Process Improvement: Identify opportunities to enhance compliance processes and controls, making recommendations for process improvements and operational efficiencies.
- Training and Education: Provide training and education to employees on compliance requirements, policies, and procedures to promote awareness and understanding of compliance obligations.
- Internal Collaboration: Collaborate with stakeholders across different departments, including legal, risk management, and operational teams, to address compliance-related issues, implement effective controls, and foster a culture of compliance within the organization.
- Compliance Projects: Contribute to compliance-related projects, such as the implementation of new regulatory requirements or the enhancement of compliance frameworks and systems.
- Bachelor’s degree in business, finance, law, or a related field.
- Strong knowledge of relevant laws, regulations, and industry best practices pertaining to the organization’s sector.
- Experience in compliance monitoring, auditing, or a related field is preferred.
- Analytical mindset with the ability to evaluate complex information, identify patterns, and draw meaningful conclusions.
- Attention to detail and ability to maintain accurate records and documentation.
- Strong written and verbal communication skills to effectively communicate findings and recommendations.
- Proficiency in using compliance monitoring tools, data analysis software, and Microsoft Office applications.
- Familiarity with compliance frameworks and methodologies.
- Professional certifications such as Certified Compliance and Ethics Professional (CCEP) or Certified Regulatory Compliance Manager (CRCM) are advantageous.
- Ability to work independently, manage multiple tasks, and meet deadlines.
- Strong ethical standards and the ability to handle sensitive and confidential information.