Quality Assurance and Data Management for Compliance, Compliance Officer, Associate - Singapore
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries. The firm is a leader in Investment & Corporate Banking; Financial Services for consumers, small business and commercial banking; financial transaction processing; asset management and private equity.
The Quality Assurance ("QA") and Compliance Data Management ("CDM") Team are an integral part of the controls environment within Compliance. They are responsible for ensuring the highest quality of data for use in Corporate Compliance Reporting, Surveillance and Monitoring, conducting a continuous testing program against internal procedures and regulatory requirements to ensure quality, completeness, and accuracy. This is achieved through the monitoring and validation of inbound data to identify data quality issues, complete impact assessment and remediate through the Defect Governance framework. In addition, the Quality Assurance Tester (QA) will perform targeted reviews; summarize results, and present to stakeholders.
The team will be expected to determine gaps in process and procedure; question integrity of data and adherence to processing and servicing standards, policies and procedures. They will be accountable for analyzing issues, improving business processes and providing recommendations for improvements. In addition the team reviews, on a sampling basis, cross-team testing across corporate and transaction streams.
The team supports its Compliance and Advisory partners across multiple functions: Client List Screening focusing on Office of Foreign Assets Control (OFAC) Sanctions & Know Your Customer (KYC) programs and AML Transaction Monitoring, focusing on the detection, investigation and reporting of suspected money laundering and terrorist financing. Trade Surveillance & Employee Personal Account Dealing focusing on the prevention of manipulative or illegal trading practices, Responsibilities
- Monitor delivery and completeness of feed/files into and throughout the Compliance environment and escalate delays to the appropriate stakeholders
- Perform data analysis & reconciliations to identify data issues and their impact to Compliance Screening
- Manage data issues throughout the life cycle, by effectively collaborating with various functional leads from LOBs, Tech, Ops and Compliance) to document data issues, root cause and communicate remediation plans
- Perform analysis on closed Transaction Monitoring, Investigations alerts, Surveillance Alerts and Client list screening to verify controls/standards are met.
- Question and investigate the reliability and integrity of data, the validity of conclusions, and the appropriateness of assumptions made.
- Review quality and compliance of completed alerts, based on quality testing standards, the process, and the nature of the breach.
- Identify key issues, cause and effect relationships, and gaps in the process that impact quality and accuracy. Report results/metrics to management.
- Participate in UAT testing, review test scripts, and create business requirement documentation (BRDs)
- Make decisions based on audit principles, risk management practices, verifiable data, professional standards, internal policy and governmental guidelines.
- Consider regulatory requirements, departmental resources, and various compliance streams goals and objectives to identify alternatives that are practical and appropriate.
- Cross training across the Quality Assurance and Compliance Data Management team in multiple streams is expected
- Develop excellent relationships with the other Compliance Advisory, Quality Assurance and Compliance Data Management teams regionally and globally.
- Participate or lead other aligned initiatives as necessary
- Detailed knowledge / subject matter expertise of AML, Client List Screening and Surveillance Quality Assurance processes in addition to Technology, Case Management products and services.
- Team player, excellent organization, written and oral communication skills.
- Strong documentation and process flow development skills to clearly articulate results of testing.
- Strong analytical and problem solving skills
- Pave the way for continuous improvement and serves as a change agent
- Escalate control issues to management
- Interface with internal Audit as appropriate
- Bachelor's degree required
- Ability to converse and read in Business Mandarin
- Regional travelling is required
- Associates with 4-6 years' experience in the Financial Services industry with a demonstrated track-record of delivery and/or relevant experience in Compliance, Transaction Monitoring, Client List Screening and / or Surveillance
- Experience with Financial Services industry. AML/BSA, compliance or investigative background preferred.
- Knowledge of public data research including internal surveillance systems & applications preferred.
- Understand Transaction Monitoring and Investigations practices as it relates to escalations and actions taken
- Outstanding client management, partnership building, and direct experience of dealing with multiple stakeholders at one time
- Ability to translate data and information into business reports and presentations
- Exceptional research and analytical skills with the ability to analyze data and disposition appropriately.
- Excellent verbal and written communication, influencing and relationship building skills
- Strong documentation skills to clearly articulate results of testing.
- Effective analytical, problem solving and decision-making skills
- Able to multi-task and meet deadlines while maintaining quality output
- Highly proficient in MS Office, documentation and metric s