Compliance Testing/Audit Lead, Deutsche Bank

Banking/Financial Services

$117-206k

Senior and Expert level

New York

Office located in 875 Third Avenue, NY

Investment bank and financial services company

Be an early applicant

Investment bank and financial services company

1001+ employees

B2CB2BInvestingTradingFinancial Services

Be an early applicant

$117-206k

Senior and Expert level

New York

Office located in 875 Third Avenue, NY

1001+ employees

B2CB2BInvestingTradingFinancial Services

Company mission

To be the leading global provider of financial solutions for demanding clients, creating exceptional value for its shareholders and people.

Job

Company

Role

Who you are

Proven knowledge of regulations governing financial institutions including the BSA, USA PATRIOT Act, sanctions, and financial services rules and regulations of the FRB, FINRA, SEC, NFA, and CFTC etc
Proven financial services experience, with exposure to asset management related products and services such as broker dealer, investment advisory, fixed income, and equities
Proven expertise in AFC and Compliance Testing or Internal Audit within a large complex financial services organization
Strong business writing experience and expertise, including policy and procedures
Expertise in interpreting various laws, regulations, policies, and developing testing strategies to assess
Excellent interpersonal and communication skills and experience with the ability to interact effectively with internal and external stakeholders, including regulators and senior management
Strong analytical and investigative, critical thinking skills including the ability to identify the root cause of issues
Proven ability to manage multiple compliance reviews and projects at the same time and meet quality standards and deadlines
Educated to graduate degree level or with relevant industry experience

What the job involves

The DWS Anti-financial Crime (AFC) and Compliance Testing team, part of the AFC and Compliance Department, conducts reviews to evaluate the firm’s compliance with applicable laws and regulations and to help ensure that control gaps are adequately escalated and mitigated through remedial actions
The Senior Compliance Testing Officer will support the Americas Head of AFC and Compliance Testing in leading reviews, tests, and branch inspections designed to provide assurance that the internal control framework is effective in mitigating AFC and Compliance risk within DWS in the Americas Region
Leading AFC and Compliance reviews in order to assess and review compliance with legal, regulatory, and internal firm policy requirements applicable to DWS products and services in the Americas
Developing testing modules and conduct testing across all DWS Americas business activities to evaluate adherence to regulatory requirements
Building and maintaining effective relationships with business line leadership, business line AFC and Compliance, Operations groups, Internal Audit, Testing peers in Deutsche Bank, and other stakeholders and partners throughout the region
Supporting the development of a testing universe and review plans based on the results of the annual AFC and compliance risk assessment, ensuring the review plan addresses regulatory priorities and that reviews are designed to meet applicable regulatory guidance
Utilising subject matter expertise with respect to applicable regulatory requirements to ensure testing is adequately designed to identify potential control gaps and non-compliance with laws and regulations
Identifying AFC and Compliance risks inherent in a business or process and assess whether the control framework in place is effectively managing these risks
Determining the root cause of issues and guide the development of effective remediation plans to mitigate the risks
Preparing reports to DWS leadership and senior management detailing review findings and recommendations. Periodically report on significant activities conducted and planned for the upcoming period
Ensuring that all findings and recommendations are entered into the appropriate issue tracking system for managing corrective actions effectively and performing follow-up and final validation to ensure proper resolution
Meeting with senior management in AFC and Compliance, lines of business, and other stakeholders to provide overview of significant risks and control gaps

Our take

Despite its roots in the nineteenth century, Deutsche Bank has seen strategic transformation at countless stages to remain competitive. For example, it recently launched Vert, a new digital payments company for SMEs, in collaboration with Fiserv. As a result, the company successfully filled the gap in the market for a user-friendly, all in one solution which would enable merchants to accept payments and manage money.

The company continues to benefit from its scale and reputation. Despite ongoing criticisms, its strong European ties and a global network means Deutsche Bank is well placed to help clients navigate through geopolitical and macroeconomic shifts, something that can’t be said so confidently of its competitors. Today, it operates in circa 60 countries.

Moving forwards, the company is focused on aligning more closely to environmental, social and governance (ESG) criteria to facilitate over €500B in sustainable finance and investments between 2020 and 2025.