Torchora
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Key Responsibilities and Required Skills for Compliance Assistant

💰 $ - $

ComplianceRiskLegalFinancial ServicesAudit

🎯 Role Definition

The Compliance Assistant supports the compliance function by executing day-to-day regulatory and operational tasks that enable the organization to meet legal, regulatory, and internal policy obligations. This role focuses on transaction monitoring, KYC and AML screening, regulatory reporting support, policy administration, and remediation tracking. The Compliance Assistant works closely with Compliance Officers, Legal, Risk, Operations, and front-line business teams to ensure timely, accurate, and documented compliance activities.

📈 Career Progression

Typical Career Path

Entry Point From:

  • Compliance Intern or Compliance Coordinator
  • Risk or Operations Analyst (entry-level)
  • Paralegal, Legal Assistant, or Junior AML Analyst

Advancement To:

  • Compliance Analyst
  • AML/KYC Analyst or Investigations Specialist
  • Senior Compliance Officer / Compliance Manager

Lateral Moves:

  • Risk Analyst (Operational or Enterprise Risk)
  • Internal Audit Associate
  • Regulatory Reporting or Policy Analyst

Core Responsibilities

Primary Functions

  • Conduct daily AML/KYC screening and transaction monitoring reviews using enterprise tools (e.g., NICE Actimize, FICO, SAS, Oracle Mantas), escalate suspicious activity and prepare initial documentation for SAR/STR filing under supervision.
  • Perform customer due diligence (CDD) and enhanced due diligence (EDD) for new and existing clients by collecting, validating, and documenting identity, ownership, source of funds, and purpose-of-relationship information to meet regulatory standards.
  • Execute sanctions and PEP screening (OFAC, UN, EU, UK sanctions lists) on customers, counterparties, and payment flows, analyse false positives, and document decisions per internal procedures.
  • Investigate alerts generated by transaction monitoring systems: triage alerts, research account activity, conduct pattern analysis, prepare investigation summaries, and recommend next steps to the senior compliance team.
  • Maintain and update KYC/CDD files and records in compliance repositories and document management systems, ensuring timely re‑verification and client file completeness for regulatory exams.
  • Support periodic compliance testing and monitoring programs by performing sample selection, control testing, evidence collection, and preparing test workpapers for Compliance and Internal Audit reviews.
  • Assist with regulatory reporting tasks, including preparing data extracts, reconciling reporting inputs, and contributing to reports submitted to regulators (e.g., AML reports, suspicious activity summaries) under supervision.
  • Track, monitor, and report remediation items arising from audits, regulatory findings, and management reviews; follow up with accountable business owners until closure and maintain remediation logs.
  • Draft and maintain compliance policies, procedures, and standard operating procedures (SOPs) updates, ensuring version control, distribution, and staff acknowledgment tracking.
  • Support customer onboarding teams by reviewing KYC documentation, verifying adverse media checks, and recommending risk-based onboarding decisions or escalation for higher risk profiles.
  • Conduct periodic screening of third parties and vendors for compliance issues, maintain third-party due diligence files, and contribute to vendor risk assessments and onboarding questionnaires.
  • Provide administrative and operational support for the compliance program including meeting minutes, coordination of internal trainings, and preparation of compliance attestations and attest logs.
  • Compile and analyze compliance metrics and key performance indicators (KPIs) such as alert volumes, disposition rates, false positive ratios, and remediation aging for monthly and quarterly management reporting.
  • Prepare clear, concise investigation memos, timelines, and evidence bundles to support potential escalations to senior management, legal, or law enforcement where required.
  • Assist with AML transaction rule tuning and data quality reviews by testing rule changes in a controlled environment and documenting impacts to alert volumes and precision.
  • Support the onboarding and ongoing training of junior staff and business units on basic compliance requirements, system usage, and documentation standards.
  • Respond to routine regulatory inquiries and information requests by compiling supporting documents, timelines, and historical case notes under senior staff direction.
  • Maintain up-to-date knowledge of applicable laws and regulations (e.g., Bank Secrecy Act, Patriot Act, GDPR, local AML/CTF rules) and embed regulatory changes into daily operational tasks and checklists.
  • Support internal and external compliance examinations by preparing requested documentation, organizing evidence, and coordinating responses with business stakeholders to ensure timely, accurate submission.
  • Assist with sanctions screening investigations and OFAC license checks; document risk rationale and support any required remedial actions or filings.
  • Reconcile and validate client data across multiple systems (CRM, transaction systems, core banking) to ensure data integrity for compliance workflows and reporting.
  • Participate in cross-functional projects to implement RegTech solutions, process automation, and system enhancements aimed at improving compliance efficiency and reducing manual effort.

Secondary Functions

  • Provide administrative support for training schedules, compliance newsletters, and staff attestations to reinforce policy awareness across the business.
  • Support ad-hoc data pulls and basic data validation to aid senior compliance staff in escalations, investigations, and regulatory reporting.
  • Contribute to the continuous improvement of processes by documenting gaps, recommending operational fixes, and participating in user acceptance testing for compliance systems.
  • Collaborate with business units to translate compliance requirements into practical onboarding and monitoring workflows and to reduce operational friction.
  • Participate in internal working groups and project teams addressing policy updates, regulatory change implementation, and remediation programs.
  • Assist with maintaining the compliance intranet and knowledge base, ensuring guidance documents and FAQs are current and searchable.

Required Skills & Competencies

Hard Skills (Technical)

  • AML/KYC processes and best practices (CDD, EDD, enhanced due diligence)
  • Sanctions screening and OFAC/UN/EU/UK list management
  • Transaction monitoring and alert investigation (experience with screening platforms like Actimize, NICE, FICO, or similar)
  • Regulatory reporting fundamentals and SAR/STR triage support
  • Familiarity with GRC (Governance, Risk & Compliance) platforms and case management tools
  • Proficient with Microsoft Excel (VLOOKUP, pivot tables, data cleansing) and comfortable handling large data extracts
  • Basic SQL or ability to query data sets (preferred for data pulls and reconciliations)
  • Document management and audit trail maintenance (policies, SOPs, evidentiary documentation)
  • Experience with adverse media screening and PEP databases
  • Knowledge of privacy and data protection requirements (e.g., GDPR) as they relate to compliance investigations
  • Exposure to RegTech implementation or testing and system change control processes
  • Ability to prepare structured investigative memos and compliance reporting

Soft Skills

  • Exceptional attention to detail with strong quality control and documentation discipline
  • Analytical thinking and problem solving to assess risk and interpret transaction patterns
  • Strong written and verbal communication for clear investigation notes and interdepartmental coordination
  • Time management and prioritization skills in a high-volume, deadline-driven environment
  • Integrity, discretion, and ability to handle confidential information professionally
  • Team player attitude and ability to work cross-functionally with business, legal, and IT partners
  • Adaptability to changing regulatory requirements and evolving internal procedures
  • Customer-service mindset when interacting with business users to resolve compliance questions
  • Critical thinking and sound judgement for escalation decisions and risk-based recommendations
  • Continuous learning orientation to stay current on regulatory changes and new compliance technologies

Education & Experience

Educational Background

Minimum Education:

  • Associate degree or equivalent in a related discipline; or equivalent work experience in compliance, risk, or operations.

Preferred Education:

  • Bachelor’s degree in Finance, Business Administration, Law, Criminal Justice, Accounting, or a related field.
  • Professional certifications preferred: CAMS (Certified Anti-Money Laundering Specialist), CRCM, ACAMS, or similar.

Relevant Fields of Study:

  • Finance, Accounting, Business Administration
  • Law, Criminal Justice, Political Science
  • Information Systems, Data Analytics (for regulatory data handling)

Experience Requirements

Typical Experience Range: 1–3 years in compliance, AML, KYC, risk, audit, or regulatory operations.

Preferred:

  • 2–5 years of hands-on experience with AML/KYC processes, sanctions screening, or compliance operations in financial services, fintech, or regulated industries.
  • Prior exposure to compliance monitoring tools, case management systems, and regulatory filing processes.
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