Institutional Banking and Markets (IB&M) is responsible for managing the Group’s relationships with major corporate and government clients and institutional investors, and provides a full range of capital raising, transactional and risk management products and services. The division also performs an important internal role for the Group by providing equities, markets, lending and transaction banking execution capabilities to other CBA business units that allows them to capture opportunities with business customers.
IB&M launched a new purpose and strategy in May 2014. That purpose is to enhance our clients’ success through market-leading capabilities and unique insights. It’s part of our DNA.
The US Regulatory Compliance Team assists the New York Branch in maintaining compliance with the various regulatory bodies responsible for oversight. The team engages with the Office of the Comptroller of the Currency, the Fed, the SEC, FINRA, CFTC and NFA among others. The team is an integral part of the Corporate Governance of the branch and supports the business through advice, monitoring, testing and policies and procedures.
Your impact and contribution:
Top deputy, experienced leader and subject matter expert and key advisor to the Head of Compliance & Regulatory Risk, Americas in administering the IB&M Compliance Framework and Compliance Program.
Your reporting lines:
You will report directly to the Head of Compliance and Regulatory Risk, Americas.
• Second in charge and key advisor to the Head of Compliance & Regulatory Risk, Americas in leading compliance support for America’s businesses including fixed income, registered swap dealer, FX, commodities, broker dealer and futures businesses;
• Implementation of compliance programs/controls frameworks relevant to regulatory risks and requirements;
• Advise the business on business obligations and lead the team in maintaining the US obligations register;
• Oversee outsourced OTC trade reporting function and actively manage trade surveillance program;
• Advise broker/dealer on private placement business;
• Assist Head of Compliance with regulator engagements, exams and audits;
• Track relevant US regulatory developments and lead development of position papers explaining changes and implications;
• Participate in external and internal regulatory forums on behalf of Head of Compliance & Regulatory Risk, Americas;
• Develop and administer compliance training program and provide sales and trading staff with regulatory advice, appropriate management information and compliance support with respect to the regulatory aspects of the business they operate;
• Oversee regulatory required licensing and registeration;
• Assist in managing the Compliance Monitoring Program;
• Develop and implement compliance policies and procedures;
• Participate in new product approval process, track relevant regulatory developments, draft and revise written policies as needed;
• Serve as a mentor and career developer for junior staff
Your skills and experience:
• Minimum 15 years working in a US Compliance Department for a financial services company that includes banking, broker/dealer and/or investment adviser;
• Experienced working knowledge of fixed income securities, FX, commodities, swaps and futures asset classes;
• Working knowledge of OTC derivative products and related Dodd Frank & Volcker regulations;
• Strong knowledge of US trade reporting requirements (TRACE);
• Strong knowledge of FINRA Net Capital and Customer Reserve Rules;
• Strong experience with drafting compliance policies and procedures;
• Strong knowledge of the US federal and state securities laws;
• Experience with US regulators (e.g., SEC, FINRA, CFTC, NFA, OCC, Federeal Reserve);
• Former experience working for a US regulator a plus;
• Solutions oriented with a strong track record supporting compliance frameworks related to fixed income securities, derivatives, FX, private placements and futures trading and sales businesses;
• Effective project management, multi-tasking and time management skills with ability to meet tight deadlines;
• Proficiency in Excel, Word and PowerPoint
• Strong written/oral communication, organizational, and interpersonal skills;
• Ability to work as part of a team and independently in a fast-paced environment;
• Experience managing, mentoring and/or training junior compliance professionals.
• Series 7 and 24
• Prior experience working for a US regulator a plus