VP, Compliance

Full Time

Madison-Davis Client

Business Unit Compliance is responsible for directing, leading and operating the First Line of Defense’s Operating Group Compliance Program (OGCP).

An OGCP is the system of policies, processes and controls established by the First Line of Defense to achieve and sustain its risk-based compliance with applicable laws and regulatory requirements and to ensure that the First Line of Defense responsibilities outlined in the Legal Regulatory Compliance Risk Management (LRCRM) Policy, the Enterprise Compliance Program and the Global Compliance Manual (GCM) and supporting operating guidelines are met.

Trade Floor Supervision is part of the overall Business Unit Compliance Organization and is specifically responsible for the monitoring of trade floor activities and ensuring these activities adhere to all applicable regulations. This is done through the utilization of various tools including daily checklists, transaction reviews, risk assessments and attestations.

Job Responsibilities

  • Working directly with the Managing Director responsible for U.S. Business Unit Compliance, the BUCO will be responsible for assisting the Managing Director in coordinating the activities of all BUCO’s across jurisdictions. This will include at times, managing and coordinating remediation projects; coordinating regulator exams or queries, and ensuring consistency of activities throughout the first line supervisory program.
  • Additional accountabilities will include a robust understanding of the regulatory obligations associated with the various trading products and personnel, and the development and/or continued maintenance of a first line of defense (Trade Supervision) protocol for monitoring controls around them. It will additionally include coordination with the BUCO’s responsible for Investment and Corporate Banking.
  • The BUCO is also accountable for helping to promote an inherent culture of compliance across Capital Markets Trading Products so that resources may be committed toward proactive rather than reactive gap analysis.
  • The BUCO will work closely with the Managing Director and other members of Trade Floor Supervision, as well as 2nd line Compliance to ensure adherence to all applicable regulations.
  • Review surveillance reports, documents and report anomalies and trends.
  • Assist in maintaining up-to-date policies and procedures
  • Partner closely with Compliance and Supervision colleagues in order to monitor Regulatory developments in the context of current rules and industry trends.
  • Participate in regulatory exams, including direct interface with Regulators and Examiners
  • Advise Desk Heads on regulatory impacts to proposed strategies and transactions

AUTHORITIES:

The BUCO, U.S. Trade Floor Supervision, will have the following authorities:

  • Ability to challenge others about any action in an appropriate and balanced manner. They should also be able to follow-up on any concern, question or issue that may arise.
  • Overall understanding of the Operating Group and/or assigned Assessable Unit(s) (“AU(s)”)
  • Direct access to all operations within their assigned AU(s), which includes access to all documents if the Vice President believes are relevant for the effective execution of their compliance responsibilities
  • Attend meetings the Managing Director believes are relevant for an effective execution of the program.
  • Appropriate access to all levels of Management in their assigned AU(s) as well as the OGL and the Compliance Group, as required
  • Direct access to Trading Desk Heads and Business Managers for escalation &/or clarification of Trading Activities.

CROSS-FUNCTIONAL RELATIONSHIPS:

The BUCO of U.S. Trade Floor Supervision will work closely with the Compliance Group, who carries out the Second Line of Defense mandate of independent oversight and effective challenge.
Participate in other projects as necessary to support the Trade Floor Supervision function
Additionally, the Vice President will maintain active and ongoing dialogue with the U.S. Legal Entity Executives.

Job Requirements:

  • Strong product knowledge and understanding of trading activities and applicable regulations.
  • Solid knowledge of the Broker Dealer and Banking Regulations, which include but not limited to SEC, FINRA, OCC, FRB, CFTC, IIROC, OSFI etc.
  • Strong written and oral communication skills
  • Strong collaborative skills
  • Excellent Excel spreadsheet manipulation and data analytic skills
  • Strong relationship management skills; ability to establish and manage multiple stakeholder relationships with the business, within the three lines of defense and with corporate support functions
  • Proven project management capabilities and an ability to co-ordinate the efforts of people and resources not under their direct control
  • Ability to read technical compliance material and distil the applicability of the regulations to respective business unit(s)
  • Demonstrated analytical, auditing, writing, communications and presentation skills
    Ability to deal with sensitive issues with tact and discretion
  • Excellent judgment and interpersonal skills, who can consult, influence, collaborate, appropriately escalate issues
  • Strong analytical skills – analyze the evidence collected on remediated controls and determine if there is substantive conformance with requirements
  • Ability to recognize material differences between planned execution and actual practice
  • Ability to communicate questions and requests in a professional and clear manner
  • Advanced educational degree is desirable – MBA, CPA, or JD.
  • Professional certifications are required– Series 7, 63, 24

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