Will “Bank Compliance Officer” be Replaced By Robots? 🤔

17% Chance of Automation

“Bank Compliance Officer” will almost certainly not be replaced by robots.

This job is ranked #198 out of #702. A higher ranking (i.e., a lower number) means the job is less likely to be replaced.

Care to share? Click for Facebook, Twitter, LinkedIn, or XING. 👍

Job Description

Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify, or authenticate records.

Job Details

The SOC (Standard Occupational Classification) code is 13-2061.00
The Mean Annual Wage in the U.S. is $ 88,940.00
The Mean Hourly Wage is $ 42.00
Currently, there are 49,750 people on this job

☝️ Information based on the reference occupation “Financial Examiners”.

Also Known As…

Tasks for “Bank Compliance Officer”

Verify and inspect cash reserves, assigned collateral, and bank-owned securities to check internal control procedures.
Resolve problems concerning the overall financial integrity of banking institutions including loan investment portfolios, capital, earnings, and specific or large troubled accounts.
Evaluate data processing applications for institutions under examination to develop recommendations for coordinating existing systems with examination procedures.
Review and analyze new, proposed, or revised laws, regulations, policies, and procedures to interpret their meaning and determine their impact.
Investigate activities of institutions to enforce laws and regulations and to ensure legality of transactions and operations or financial solvency.
Review audit reports of internal and external auditors to monitor adequacy of scope of reports or to discover specific weaknesses in internal routines.
Review applications for mergers, acquisitions, establishment of new institutions, acceptance in Federal Reserve System, or registration of securities sales to determine their public interest value and conformance to regulations, and recommend acceptance or rejection.
Confer with officials of real estate, securities, or financial institution industries to exchange views and discuss issues or pending cases.
Prepare reports, exhibits and other supporting schedules that detail an institution's safety and soundness, compliance with laws and regulations, and recommended solutions to questionable financial conditions.
Train other examiners in the financial examination process.
Review balance sheets, operating income and expense accounts, and loan documentation to confirm institution assets and liabilities.
Examine the minutes of meetings of directors, stockholders and committees to investigate the specific authority extended at various levels of management.
Establish guidelines for procedures and policies that comply with new and revised regulations and direct their implementation.
Direct and participate in formal and informal meetings with bank directors, trustees, senior management, counsels, outside accountants and consultants to gather information and discuss findings.
Provide regulatory compliance training to employees.
Recommend actions to ensure compliance with laws and regulations, or to protect solvency of institutions.
Plan, supervise, and review work of assigned subordinates.

Related Technology & Tools

Notebook computers
Personal computers
10-key calculators
Desktop computers

Auditing software
Westlaw
Web browser software
Spreadsheet software
Microsoft Excel
ODEN Insurance Services State Rules & Regulations
ACL Analytics
System for Electronic Rate and Form Filing SERFF
Microsoft Visio
LexisNexis
Word processing software
Financial compliance software
Structured query language SQL
Investigation management software
NILS INSource
Microsoft PowerPoint
Microsoft SharePoint
General Examination System GENESYS
Oversight Insights On Demand
Financial transaction analysis software
Microsoft Office
Microsoft Word
Presentation software
Microsoft Project
Microsoft Access
PricewaterhouseCoopers TeamMate
SAP