Regulatory Compliance Advisory Specialist

Full Time

Madison-Davis

EXTERNAL CLIENT ROLE

Overview:

Compliance Division provides compliance oversight, advice and guidance to all departments. The Regulatory Compliance Advisory Department provides technical guidance, support and tailored feedback on regulatory issues to ensure that existing processes, systems and controls, and any changes to them, comply with regulatory obligations and standards and principles.

The role of the Regulatory Compliance Advisory Specialist is to support the Regulatory Compliance Advisory Department in its partnering with departments (“business units”) to meet their regulatory obligations. This is a new function within the Compliance Division and offers the right candidate the opportunity to be involved in helping develop and establish the department.

Regulatory Requirements

  • Understand key applicable regulatory requirements
  • Keep abreast of regulatory developments and assist with the preparation of regulatory change reporting to keep management up-to-date on relevant legal and regulatory developments
  • Support Compliance Leads and business units in analyzing and implementing new or changing regulatory requirements and standards

Advisory

  • Support provision of advice to assigned business units on regulatory compliance matters and provide technical guidance, support and tailored feedback on regulatory issues
  • Support provision of advice to assigned business units in the identification of regulatory compliance risks, assessing controls and reporting on effectiveness of controls to ensure compliance with applicable standards and internal policy requirements
  • Support the assigned business units departments in conducting risk based reviews of existing and emerging regulatory requirements and provide advice on how to address issues and control gaps
  • Support assigned business units to ensure that new business initiatives and amended processes comply with regulatory obligations
  • Collaborate with assigned business unit to develop the appropriate training materials designed to raise awareness of regulatory compliance risk and how it is mitigated
  • Maintain strong working relationships with business unit managers in order to ensure the timely delivery of quality information and increase the likelihood of favorable conditions for compliance activities
  • Responsible for fostering a culture of compliance within the organization in a manner consistent with company values
  • Effectively support the influencing of business decisions and the identification and escalation of issues
  • Support the Compliance Leads in the development of the compliance strategy for the assigned business units
  • Contribute to the development of projects and programs to improve compliance and enhance the control environment
  • Provide direct input to more junior professionals to improve their understanding of compliance, control and documentation policies

Reporting and Tracking

Support the effort to assess the effectiveness of current risk prevention and mitigation controls to ensure managers in the assigned business units are equipped with the education to identify and judge the severity of risks

  • Management and maintenance of Compliance Inventory
  • Support the design and implementation of Compliance Monitoring reviews and assisting with the tracking of related remediation activities
  • Contribute to the establishment of key risks indicators (KRIs) and tracking and reporting methodologies as part of a standard system of measurement and reporting
  • Contribute to the development of recommendations for corrective action and issue tracking to ensure resolution efforts proceed timely and effectively
  • Contribute to the preparation of complex, time sensitive reporting and appropriately escalate issues to senior management

Experience / essential and desired for successful job performance

  • Bachelor’s degree in finance/economics or law degree, or the equivalent combination of education and experience is required. Legal qualification an advantage
  • 5+ years of experience in a compliance/legal function
  • Proven Compliance Advisory support experience
  • Experience leading/contributing to the design and management compliance training programs
  • Experience in analyzing and implementing regulatory reform measures

Knowledge, skills and abilities / competencies required for successful job performance

  • Understanding of the need for and possession of the ability to uphold the highest standards of confidentiality
  • Articulate and diplomatic, with strong negotiation and influencing skills with the ability to display a range of influencing styles and stakeholder management skills
  • Excellent report writing and presentation skills
  • Superior interpersonal skills
  • Investigative and analytical thinking
  • Ability to work independently to creatively assess and identify gaps and present solutions
  • Ability to steer and influence a culture of compliance
  • Project management skills an advantage
  • Good knowledge of Microsoft Office packages, particularly Excel and Word

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