Hi all. I am currently in audit. I have been approached by a former employer about taking the compliance officer position. I do know what the basic responsibilites are of the compliance officer in a bank, but I also wanted to find out some more info from all of you as well.
The prior CO was a bit lacking, so there were a lot of compliance issues, which I believe I can work on to fix with my audit experience.
My questions for you are:
1. Who or where does the CO report in your organization?
2. Are they responsible for all areas of compliance (ie. investments, consumer, BSA, tax, HR, etc)
3. What size institution?
4. Do you do independent testing aside from Audit?
5. Who is responsible for compliance audit findings? CO or Management of departments?
6. How is compliance training conducted?
Any information would be greatly appreciated. I am ANON for obvious reasons.