BSA/AML Compliance Auditor Job



Overall Compliance Auditor Job Function:

Overall responsible for the execution of the BSA/AML/ OFAC and regulatory compliance audits.  Provides support or manage additional audit activities in the areas of finance, operations, risk management and treasury/trading.


The BSA/AML Compliance Auditor will be responsible for execution of AML/BSA audits; providing subject matter expertise and oversight for AML audits, regulatory compliance audits and other audit activities as assigned.  The position requires an extensive knowledge of BSA/AML and OFAC banking laws and regulations and background in controls or audit best practices.


The BSA/AML Compliance Auditor is expected to plan and execute BSA/AML and OFAC audits; implement testing programs for BSA/AML & OFAC, and all applicable banking laws and regulations to ensure adherence to laws, regulations, policies and procedures; communicating irregularities and recommending corrective measures to appropriate personnel; documenting all reviews and findings in a manner consistent with HO Global Audit standards; ensuring that audit results and analyses are objective and well documented; performing follow-up on audit issues and performing special audits or assignments as requested. Contribute to Global Head audit planning to reflect local requirements and risks and liaison with Global Head Unit Internal Audit, local Management, Regulators and External Accountants.


Major Job Duties:

  • Assist in the development of the risk assessment for the audit universe and development of the Audit Plan that correlates with the Risk Assessment in conjunction with the annual Global Audit assessment and planning exercises.
  • Carry out the planning and execution of the BSA/AML & OFAC audits within the context of the Branch.
  • Perform and support audits in the areas of finance, risk management, operations, and trading/treasury activities.
  • Follow-up and perform validation of remediation activities to ensure control issues are effectively resolved.
  • Staying abreast of laws, rules and regulations impacting financial institutions and partnering with Corporate Compliance to ensure the regulatory risks are properly identified and mitigated with the business lines, and ensuring that the changes are incorporated into the independent assessment process performed by Internal Audit
  • Identify and implement best practices; drive change within the internal audit and the firm to strengthen the BSA/AML & OFAC framework.
  • Report audit findings and make recommendations for correcting unsatisfactory conditions, improving operations and reducing costs.
  • Maintain effective working relationships with the members of local Senior Management, the heads of the business and service units and staff.
  • Ensure that audit work conforms to Global Audit policies and procedures Perform special reviews or projects if necessary.
  • Assist GH Unit Internal Audit at other locations for specific audit projects, if appropriate.
  • To audit new product processes and new systems development from an independent audit perspective.



To perform this job successfully, an individual must be able to perform / participate in audits in the organizational and functional areas of a foreign banking organization operating in the US. This requires:

  • Sound International Banking business understanding and knowledge which includes best practices and banking laws, rules and regulations, e.g. in respect of BSA/AML & OFAC compliance issues.


 Education and / or Experience:

  • Bachelor’s in Accounting or Business Administration
  • Professional designation (CIA, CAMS) preferred
  • Ideally, five years organization or equivalent work experience with foreign banking
  • General banking knowledge
  • Extensive experience working with Bank Secrecy Act/Anti-Money Laundering
  • Ability to work independently and in audit teams
  • Excellent communication, interpersonal, organizational and analytical skills required
  • Working knowledge of regulatory environment and applicable banking regulations impacting foreign banks.
  • Proficiency in MS-Office Products and hands-on experience with auditing software (e.g. data extraction and analysis software)


Decision Making Authority of Job Responsibilities:

  • Determining and assessing risk
  • Prioritizing control issues
  • Recommending viable solutions