Overview
Compliance Testing
A Compliance Testing role in a bank involves assessing and ensuring adherence to regulatory requirements, internal policies, and procedures.
Key responsibilities include:
– Regulatory Compliance: Conducting tests to ensure the bank complies with applicable laws, regulations, and industry standards.
– Control Testing: Evaluating the effectiveness of internal controls and risk management frameworks.
– Gap Analysis: Identifying compliance gaps and recommending corrective actions to mitigate risks.
– Policy Adherence: Reviewing and testing adherence to internal policies and procedures across various departments.
– Reporting: Preparing detailed reports on compliance testing outcomes, including findings and recommendations for improvement.
– Stakeholder Engagement: Collaborating with internal teams, such as audit and risk management, to address compliance issues.
– Training: Assisting in training employees on regulatory requirements and compliance best practices.