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Work as a Compliance Auditor With a Bank

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The job of compliance auditor is a high-ranking position in the accounting industry. Not only do you need to have an undergraduate degree in accounting and CPA designation, but you must have considerable knowledge of banking operations and regulations. This knowledge comes from at least ten years of experience working in the accounting field and the banking industry. You should be able to work independently and have exceptional computer skills. This position requires good judgment and high standards of ethics and professionalism. You will also need to have excellent written and oral communication skills as well as interpersonal skills.

In order to become a compliance auditor for a bank you should have experience in internal auditing. It is highly beneficial to have the CIA certificate which certifies you as an internal auditor. Another certification that would help you obtain such a position is that of CMA (Certified Management Accountant). You will have to demonstrate that you can handle complex problems that involve multiple facets as you will often be working un non-standard situations. You may also have to travel to various branches to audit the financial records to ensure that they are complying with bank regulations.

The main focus of the job of compliance auditor is to oversee the planning, organization, direction and control of the lending procedures of the bank. You will have to set the objectives for the auditing process and then ensure that the programs used work to achieve these objectives. Risk management is also an aspect of this position, as you will have to make recommendations to help minimize risk. This would include such things as taking preventative actions or developing and implementing new procedures to offset any unforeseen circumstances that can pose a risk to the bank operations.



As compliance auditor, you will report to senior management on the the scope of the cases you are working on. You will have to prepare reports of the audits and you may be required to serve on committees. Dealing with external auditors is also part of this job. You may be called upon to investigate unusual accounting situations. In all of your duties, it is essential that you maintain accurate records of your work and ensure that they adhere to the control policies and procedures.

Being able to solve problems and make important decisions is an important requirement for the position of compliance auditor. You will have responsibility for several projects, which will require you to have exceptional organizational skills and an ability to prioritize tasks. On times, complex problems related to customer transactions may be passed to you for solutions. You will need to have skills at operating a computer terminal and be able to use the software of the banking institution. Daily interaction with other branches by telephone or in person will necessary and you will also deal with other banks and organizations. This job is one in which you will always have something different to do even though all of your tasks will deal with numbers and computation.
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Popular tags:

 interpersonal skills  internal auditors  assessments  industry  CIA  undergraduate degrees  accounting  CMA  objectives  bank


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