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Compliance Coordinator Job Description

Job Descriptions November 28, 2013

In the financial industry, there are many regulations in place to ensure that client money is being properly recorded, stored, and used by financial institutions. Most banks employ a compliance coordinator in order to audit the day to day activities of the bank. Coordinators, depending on the size of the bank or branch, may have a number of bank activities to review, or just a single aspect of the bank to review. Either way, compliance coordinators must be adept at gathering, analyzing, and reporting on vast amounts of data, quickly, and without error.

Compliance coordinators spend a great portion of their time gathering relevant data not only within the bank, but also from outside reporting sources. If there is a particular issue with a customer account, for example, information would need to be compiled both from bank sources and from the customer himself. This information is then compiled and analyzed by the compliance coordinator. Coordinators must have the ability to quickly assess data and determine whether or not it meets the bank’s compliance standards. This means that coordinators must have a clear understanding of these standards at all times.

Once a determination is made as to whether or not a particular issue meets compliance standards, the report must be made for a manager, who can then determine the best path forward. Coordinator input is very important when it comes to how banks should handle disputes and internal issues. Only coordinators will have a full understanding of the seriousness of an error or deliberate action, and therefore are uniquely qualified to assess what action should be taken.

Compliance coordinators must also stay apprised of any developments in local or national legislation which may affect how the bank does their business. Though some institutions may require an associate’s or bachelor’s degree, most prefer candidates to have leadership and financial experience over any other kind of qualifications.

The main aspects every compliance coordinator should have is integrity and strict adherence to ethical regulations. Compliance coordinator is currently highly ranked in the Best Business Jobs and 100 Best Jobs categories by U.S.News, because of low unemployment and high salary.

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5 Program(s) Found
  • Ranked among top Regional Universities in the South by U.S. News and World Report in 2015.
  • Ranked 37th among the Best Colleges for Veterans by U.S. News and World Report in 2015.
  • Stands as the largest private, nonprofit university in the nation with 100,000+ students.
  • Offers over 230 programs online, from the certificate to the doctoral level.
  • Has a student-faculty ratio of 25:1, and 42.3% of its classes have fewer than 20 students.
Show more [+]
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Average class size is 25, allowing for more one-on-one time with instructors.
  • Has a 97% employment rate among available graduates.
  • All  graduates receive Lifetime Employment  Assistance—free and forever.
  • Michigan's largest independent college.
  • Most instructors are working professionals in the fields they teach.
  • Programs are continuously updated to ensure classes are career-relevant and in sync with what's needed in the industry
Show more [+]
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Full Sail’s curriculum combines elements of creativity, art, business and life skills, technical prowess, and academic achievement.
  • Full Sail offers accelerated programs, so a degree that would normally take four years takes 24 months on average.
  • Students work with industry-standard tools and technologies, allowing them to gain practical knowledge and real-world experience.
  • Join us on Facebook, Twitter, YouTube and Instagram to interact with our community, read about grad success, and see campus images.
  • Online Courses

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