The Compliance Analyst Senior is a key member of the GGA North America compliance team. The Compliance team is responsible for evaluating and reporting compliance with regulatory and legal requirements and internal policies, as well as the effectiveness of business management of operational and compliance and legal risks. To accomplish this, compliance analysts perform risk-based reviews of business processes and compliance and legal requirements, with focus on International Sanctions, AML and CFT. This role is essential for supporting the ongoing development, administration, and maintenance of our Compliance Management Program. This position is a direct report to the Head of Compliance.
Principal Duties and Responsibilities:
- Maintain high-level knowledge of regulations, guidelines, policies, and procedures, both internal and external. Continually review laws and regulations, with particular emphasis on OFAC, Data Privacy, Information Security, and other key areas.
- Review systems, processes, procedures, internal audit reports, transactions and other information to assess reliability, accuracy, and completeness and conduct assurance testing to assess whether governance, risk management and control processes are operating as intended and in compliance with internal policies, applicable laws and regulations.
- Conduct interviews with responsible staff as needed to gain an overall understanding of systems, processes, procedures, reports and transactions and to examine specific issues or areas.
- Identify, obtain, analyze and evaluate relevant information to support compliance testing and controls conclusions and results.
- Draft high quality audit reports to document relevant information obtained, analyzed and evaluated that support observations and conclusions which include a background discussion of the operations and activities audited, and recommendations.
- With oversight from the Head of Compliance and Legal Counsel, facilitate and coordinate the resolution of observations and recommendations with Senior Management and Department Management who oversee the operations and activities audited or tested.
- Responsible for reviewing OFAC testing reports on a daily basis.
- Provide technical, regulatory and operational expertise and support to staff to assess/analyze the internal control environment, define gaps in key internal controls, and recommend improvements/enhancements to Head of Compliance.
- Assist with Risk Specialist, Auditors, CISO and Business Continuity Planning as needed.
In addition, the the senior compliance analyst must:
Advices
- Provide advices and solutions, to the business lines and to the top management and when required, and recommend improvements
- Support activities to be in line with new and or amended regulations or statutory requirements
Legal Watch
- Implement a legal watch jointly with the legal department
- Provides impact analysis on regulations and presents them to the top management
Financial Crime
- Conduct scheduled and ad hoc Financial Crime reviews as per the approved annual control plan
- Assess the first level reviews conducted by the business units for the daily and monthly reports with immediate reporting on non-compliance cases
- Performing regular testing to ensure full compliance to Financial Crime policy, which should include all type of customers and counterparties
- Perform the regular monitoring of the customer names and transactions to identify any unusual transactions, through internal systems
- Escalate issues as required
Data Privacy
- Performing regular testing to ensure full compliance to Data Privacy policy
Procedures and Guidelines
- Review new and amendments made to relevant policies, procedures, services products
- Monitor the implementation of new regulations or amendments made to the existing regulations
Controls
- Prepare the Compliance control Program of the entity
- Participate in conducting scheduled and ad hoc compliance reviews as per the approved annual compliance review plan.
- Monitor adherence of business and changes to business practices and products to ensure adequate consideration and compliance of business to regulatory and statutory requirements.
Trainings
- Promoting employees awareness and coordinating continuous in-house courses and e-learnings. Perform direct trainings regarding compliance issues and requirements
Regulatory and Group reportings
- Submit periodic reports to Group Compliance / Internal Control
- Participate in preparing the regular compliance report sent to Group Compliance
- Prepare the follow-up process for the gaps noted and ensure remedial actions are taken on timely manner
Required / Desired Knowledge, Experiences and Skills:
- A minimum of three (3) years of experience working in an insurance, compliance or legal environment is preferred; travel insurance industry experience is highly desired
- Knowledge of standard concepts, practices, regulations and laws within insurance field preferred
- Insurance product implementation knowledge preferred
- Experience working with state insurance departments and industry underwriters preferred
- Proficiency in Microsoft Office Suite required
- Experience working with graphic design technology (InDesign) and complex proprietary computer systems highly preferred
Education/Certifications:
- Bachelor’s Degree in Finance or Accounting or equivalent work experience in lieu of degree required
Physical Working Environment:
While performing the duties of this job, the employee is required to stand; walk; sit for long periods of time; use of hands to grasp, handle, or feel; reach with hands and arms; finger dexterity; talk; hear. The employee is occasionally required to climb or balance and stoop, kneel, crouch, or crawl. The employee must frequently lift and/or move up to 10 pounds and occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, peripheral vision, depth perception and ability to adjust focus.
The above statements are intended to describe the general nature of work being performed by people assigned to this classification. They are not to be construed as an exhaustive list of all responsibilities, duties and skills required of employees so classified.
Generali Global Assistance is an Equal Opportunity Employer M/F/Disability/Veteran