Financial Crimes Compliance Senior Risk Analyst

Company: Disability Solutions
Location: Phoenix
Posted on: November 4, 2024

Job Description:

Job Title:Financial Crimes Compliance Senior Risk AnalystLocation:CityScapeWhat you'll do:The Financial Crimes Compliance ('FCC') Senior Risk Officer will play a key role in supporting the FCC Senior Risk Manager in developing and administering the FCC's risk administration function. This position focuses on maintaining the FCC Risk and Control Inventory (RCI), conducting credible challenge reviews of RCSA from the second line of defense, maintaining the FCC's risk taxonomy and performing vendor risk assessments for AML/OFAC/ABAC/Fraud compliance. Vendor Risk Assessment reviews will be conducted at initial onboarding and will require periodic reviews of onboarded vendors based on risk score. The role also involves monitoring remediation activities related to issues management and ensuring adherence to enterprise-wide standards, policies, and regulatory requirements. Additionally, the FCC Senior Risk Officer will collaborate with FCC projects, working closely with the FCC Analytics & Data Team to drive initiatives forward.What we are looking for: Key Responsibilities:Risk & Control Inventory Maintenance

• Assist in ongoing maintenance and enhancement of the FCC Risk & Control Inventory, ensuring all risks and controls are accurately documented, up-to-date, and aligned with regulatory internal policy changes.Credible Challenge Reviews (RCSA)
  • Support credible challenge reviews for the Risk and Control Self-Assessment (RCSA) in partnership with the second line of defense. Ensure that the risks identified in these reviews are appropriately documented, challenged, and remediated in accordance with compliance requirements.Vendor Risk Assessments
    • Conduct vendor risk assessments for new and onboarded vendors, focusing on BSA/AML, OFAC, ABAC, and Fraud risk.
    • Collaborate with the Third-Party Risk Management team to ensure vendors meet all compliance requirements related to financial crimes.
    • Complete third-party risk assessments for FCC & Fraud, including reviewing all documents provided by the third parties to demonstrate their controls and processes.Risk Taxonomy Maintenance
      • Assist in ongoing maintaining FCC's risk taxonomy, ensuring the classification of risks and controls is consistent with the organization's standards and is responsive to emerging risks and regulatory changes.Issues Management & Remediation Monitoring
        • Monitor remediation efforts for issues management within FCC, ensuring compliance with enterprise issue management standards and timely resolution of identified issues. Provide updates on the status of remediation efforts to relevant stakeholders.
        • Provide support and guidance to FCC stakeholders throughout the lifecycle of their issue.FCC Projects & Data Analytics Support
          • Collaborate with the FCC Analytics & Data Team on FCC-related projects, supporting new initiatives, enhancements, and ongoing improvements to the FCC risk management framework.
          • Assist in the collection, analysis, and interpretation of business requirements and data to inform risk management strategies.
          • Provide support for the FCC Annual Risk Assessment process in collaboration with the AML Program Team and FCC Analytics & Data Team.Stakeholder Collaboration & Reporting
            • Partner with the first and second line of defense departments to ensure effective communication and collaboration on risk-related matters. Provide regular reports on FCC Compliance, vendor risk, and issues management progress to leadership.
            • Ensure that all activities comply with federal regulations related to BSA/AML/OFAC/ABAC/Fraud. Stay current on regulatory changes and best practices to ensure the FCC's Risk Program remains robust and effective.What you need to have:
              • 5+ years of financial crimes compliance, general compliance, third-party (vendor) risk compliance, risk management, and/or audit experience
              • Bachelor's degree in a relevant field OR high school diploma and 3+ additional years of relevant experience.
              • Understanding of compliance risk management practices and methodologies, including risk assessment and control assessments.
              • Practical working knowledge of financial services compliance and operations, including the related rules and regulations of the financial services industry.
              • Strong curiosity and the ability to dig into many document types (contracts, policies, procedures, trainings, SOWs, etc.) to discover relevant information.
              • Strong analytical skills with the ability to assess risks and recommend effective control measures.
              • Excellent written and verbal communication skills, including experience preparing reports for senior leadership.
              • Proven ability to work effectively with cross-functional teams.Preferred Qualifications:
                • Understanding of applicable federal, state banking and privacy laws and regulations with the ability to promptly research regulatory requirements.
                • Experience working in a financial institution or consulting environment focused on financial crimes compliance.
                • Previous experience with issues management and remediation monitoring within an enterprise-wide risk management framework.
                • Familiarity with risk and control frameworks, including RCSA.
                • Project management exposure and ability to effectively manage various deadlines and moving pieces, while communicating these effectively to stakeholders.
                • Strong understanding of compliance risk management principles and role in advising and providing guidance on bank laws, rules and regulations, and related policies and procedures
                • Demonstrated skill in effectively communicating with all levels of management with a focus on collaboration and relationship management.Benefits you'll love:We offer all the important things you'd want - like competitive salaries, an ownership stake in the company, medical and dental insurance, time off, a great 401k matching program, tuition assistance program, an employee volunteer program, and a wellness program. In addition, you'll have the opportunity to bolster your business knowledge, learning the ins and outs of how successful companies operate and manage their finances, giving you invaluable hands-on experience to help grow your career!About the company:Western Alliance Bank is a wholly owned subsidiary of Western Alliance Bancorporation. Alliance Bank of Arizona, Alliance Association Bank, Bank of Nevada, Bridge Bank, First Independent Bank, and Torrey Pines Bank are divisions of Western Alliance Bank; Member FDIC. AmeriHome Mortgage is a Western Alliance Bank company.Western Alliance Bancorporation is committed to equal employment and will consider all qualified applicants without regard to race, sex, color, religion, age, nation origin, marital status, disability, protected veteran status, sexual orientation, gender identity or genetic information. Western Alliance Bancorporation is committed to working with and providing reasonable accommodations for individuals with disabilities. If you are an individual with a disability and require a reasonable accommodation to complete any part of the application process and/or need an alternative method of applying, please email HR@westernalliancebank.com or call 602-386-2488. When contacting us, please provide your contact information and state the nature of your accessibility issue. We will only respond to inquiries concerning requests that involve a reasonable accommodation in the application process.-- Western Alliance Bancorporation

Keywords: Disability Solutions, Peoria , Financial Crimes Compliance Senior Risk Analyst, Professions , Phoenix, Arizona