Conduct independent quality assurance testing of financial crime compliance activities, including transaction monitoring, sanctions screening, and investigations. Review case documentation, identify errors and control weaknesses, document findings, support reporting and thematic analysis, escalate risks, and maintain audit-ready workpapers. Participate in calibration and peer review sessions while staying current on regulatory guidance and internal compliance procedures.
Position Summary:
Community Federal Savings Bank (CFSB), located in New York City is seeking a highly skilled and detail-oriented Financial Crime Compliance Quality Assurance Officer to join our Governance function within the Compliance department. CFSB offers a full range of banking services including ACH settlement services, pre-paid card issuance, and retail banking. In addition to serving our general customer base, we also service various types of money service businesses and FinTech companies. This individual will be primarily responsible for executing quality assurance program testing and reviews to ensure financial crime controls are functioning as designed.
Key Responsibilities:
- Execute independent quality assurance testing of completed financial crime activities (e.g., transaction monitoring, sanctions/OFAC screening, investigations) in accordance with approved QA methodology, standards, and procedures.
- Review alerts, cases, and investigative documentation to assess accuracy, completeness, timeliness, and adherence to internal policies, procedures, and regulatory expectations.
- Identify, document, and classify errors using the established QA error taxonomy, including determination of material vs. non‑material issues, root cause drivers, and control weaknesses.
- Maintain clear, well‑supported workpapers and evidence to substantiate QA conclusions, ensuring audit and regulatory defensibility.
- Escalate identified issues, trends, or emerging risks to QA leadership in a timely manner in accordance with issue management and escalation protocols.
- Support QA reporting by contributing to metrics, dashboards, and thematic analysis, including Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs).
- Participate in calibration sessions, peer reviews, and quality forums to promote consistency, objectivity, and alignment across QA reviewers.
- Remain current on relevant regulatory guidance, internal policy changes, and procedural updates impacting the scope of QA testing.
- Proficient in Microsoft Office Suite (Word, Excel, PowerPoint) or related software.
- Capability to work independently and collaboratively in a team environment, contributing ideas while supporting group decisions.
- Strong interpersonal skills.
- Excellent analytical and problem-solving skills, with a keen understanding of risk management and mitigation strategies.
- Strong organizational and time management skills, with the ability to manage multiple priorities effectively.
- Exceptional written and verbal communication skills, with the ability to present information clearly and effectively.
Education, Training, and Experience:
- Minimum requirement of a bachelor’s degree with a preferred focus in Finance, Law, Economics, International Relations, or a related field; advanced degree or professional certification (e.g., CAMS, CFE) preferred.
- Minimum of 3-4 years of experience in Compliance, Audit, or Internal Controls. Professional certification (e.g., CAMS) is a plus.
- Familiarity with financial services industry risks and regulations with knowledge of Financial Crimes. This includes understanding anti-money laundering (AML) laws, sanctions, and other relevant industry-specific rules.
- Understanding of risks and controls with respect to an AML compliance framework in the Banking industry.
- Experience in Retail Banking, FinTechs, MSB’s, international payments and card products is preferred.
About Community Federal Savings Bank (CFSB)
Community Federal Savings Bank (CFSB) is a federally chartered bank founded in 2001 and headquartered in New York City. CFSB has focused on providing superior service and added value to clients though a solid understanding of relationship banking. We offer a full range of services, including loans, bill payments, card services, internet banking, and merchant processing.
We are an equal opportunity employer and do not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, disability, military and/or veteran status, or any other Federal or State legally-protected classes.
Community Federal Savings Bank New York, New York, USA Office
New York, NY, United States
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