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Compliance Risk Monitoring Team (CRMT)- Officer

1.00 to 10.00 Years   Saudi Arabia   13 Jul, 2022
State Street Corporation
1 Jobs Openings
Job LocationSaudi Arabia
EducationNot Mentioned
SalaryNot Mentioned
IndustryOther Business Support Services
Functional AreaNot Mentioned

Job Description

The Compliance Risk Monitoring Team (CRMT) within Corporate Compliance is part of the firm?s integrated approach to monitoring Compliance Risk across the First and Second Lines of Defense. As an integral component of the company-wide compliance monitoring approach, CRMT is responsible for performing monitoring and testing over key areas of Compliance Risk, including the top Compliance Risks identified for the firm that fall under Corporate Compliance?s remit as the Second Line of Defense (SLOD). The CRMT Analyst reports to a CRMT Senior Manager, who is responsible for leading a team of global professionals in the design and execution of monitoring and testing activities developed to identify potential breaches of Regulatory Obligations and Corporate Compliance policies, as well as to ascertain whether key controls that are in place to mitigate the risk of non-compliance with Compliance Risk continue to operate effectively.In this role, the CRMT Analyst will:

  • Design monitoring and testing activities for areas deemed to be of higher focus within a particular Compliance Risk
  • Execute the review of internal controls that support various regulatory requirements in addition to internal Firm requirements (Internal Control Testing)
  • Execute substantive outcome monitoring using analytical techniques to detect potential breaches of Regulatory Obligations (Outcome-Based Monitoring)
  • Liaise with their CRMT colleagues all over the globe to share and complete deliverables
This position is perfect for an individual who has experience in risk assessment, internal control, compliance or audit functions within the Financial Services sector, who possesses strong attention to detail and coordination capabilities, and who thrives in a fast-paced environment. It is a role from which a successful candidate may develop a career further in Compliance or in other risk and control areas.Major Responsibilities:
  • Work with CRMT and Compliance Advisory colleagues to design high value, efficient monitoring and testing activities
  • Execute said monitoring and testing activities in line with established standards and execution plans
  • Provide timely execution and ensure quality of work product, including preparation of workpapers
  • Demonstrate knowledge of the CRMT Methodology as well as a broad understanding of the entire Corporate Compliance function at State Street
  • Establish and maintain relationships with the other CRMT staff members globally
  • Complete assigned periodic training as required by corporate methodology (annually, quarterly, etc.)
  • Identify real-time CRMT process improvements and suggest resolutions when applicable
Qualifications:
  • BA (or equivalent experience) in a related field
  • Minimum of 3-5 years relevant work experience in a compliance testing or audit function within the financial services sector
  • Verbal and written fluency in English
  • Excellent critical thinking skills
  • Ability to communicate with and appropriately influence all levels of management
  • Excellent interpersonal, communication (written and verbal), and presentation skills
  • Excellent project management and organizational skills , including the ability to juggle multiple projects simultaneously
  • Experience in a global team, liaising with people from all major regions

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