Regulatory Compliance Advisory Specialist

Job purpose

This role will be a Level 3 specialist position in the Regulatory Relations function of Compliance working on various facets of Regulatory Relations – related responsibilities and tasks, as described herein.

·         The position requires an ability (i) to counsel and collaborate with business lines and personnel with respect to regulatory action items, document submissions and processes and regulatory requirements; (ii) to manage reporting and presentations to senior management, board, and other programs / committees and (iii) to support in regulatory examinations.

Essential Function / major duties and responsibilities of the job

Strategic

·         Support CLS’s interface with: (i) the FRBNY Supervisory teams regarding all ongoing supervisory activities; (ii) the Fed Board Regulation HH team re: Regulation HH ANPC requirements and Regulation Y filings; and (iii) the Oversight Committee, including:

o    Supervisory-related examination and continuous monitoring activity

o    Managing the development and preparation of Regulatory Relations reporting to the Board, Senior Management and other committees / programs

o    Leading on the reporting and tracking of remedial activities

o    Supporting the overall regulatory framework, including training / education of CLS’s DFMU status, relevance and impact.

·         Provide guidance and advice related to Regulatory Relations, enhance (as needed) policies/procedures, support CLS’s growth program through Regulation HH ANPC and Regulation Y activities and embedded participation in project working groups and support CLS’s strategy by engaging effectively in the supervisory regulatory environment

·         Support the CCO and Head of Regulatory Relations in developing and preparing document submissions to internal constituencies, such as Board/Committees and internal committees 

Operational

·         Develop and maintain relationships with business lines in order to provide oversight and manage various types of deliverables involving input from a number of stakeholders  

·         Serve as a Regulatory Relations resource and coordinate and oversight related regulatory activities and engagement

·         Manage the end-to-end process of reporting activities, including working with various data sets and collaborating with the business and continuously enhancing reporting

·         Participate in working groups for projects and initiatives

·         Responsible for managing the continuous monitoring sessions for different business divisions

·         Responsible for tracking regulatory requests/deliverables, associated deadlines, owners, and stakeholders/dependencies

·         Facilitate timely, high quality regulatory deliverables by coordinating and managing expectations internally as well as with regulatory stakeholders 

·         Proactively interface with the business on responses to regulatory actions for timely submission

·         Be innovative, and able to prioritize and manage multiple tasks and deadlines

Leadership

·         Collaborate across the company to maintain and enhance supervisory interface

·         Strategize, influence and advise business lines with respect to Regulatory Relations remit

·         Support and serve as a resource for CLS strategic initiatives

·         Foster a culture of Compliance; manifest and support the Compliance Brand

·         Assist in managing and evolving CLS’s relationships with regulatory stakeholders with a specific focus on the CLS Oversight Committee

·         Support and assist in further developing CLS’s relationships with the regulatory community and industry groups across jurisdictions

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Experience / essential and desired for successful job performance

·         Bachelor’s Degree

·         Minimum 5 years of experience in compliance / legal functions / regulatory affairs in the financial services industry

·         Experience in developing content for various audiences, including senior management, regulators and industry groups,

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Qualifications / certifications

·         Bachelor’s Degree

·         JD Optional

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

·         Organized self-starter with exceptional communication skills (both written and verbal), an ability to multi-task with a ‘can-do’ attitude

·         Experience in and/or ability to work effectively with staff representing all disciplines within a company (e.g., Business Development, Operations, IT, Risk Management and Legal)

·         Proficient in standard PC programs (Word, Power Point and Excel)

·         Ability to work effectively with all levels in the organization and tactfully with a wide variety of stakeholders.

·         Ability to work constructively and flexibly in a small team environment

·         Accurate, acute attention to detail and ability to deal with high volume of information and high execution mode of environment

·         Ability to work independently on routine matters; however, is expected to seek guidance from compliance management and accept supervision on all matters

·         Professionalism, discretion, ability to maintain strict confidentiality

·         Strong relationship-building and interpersonal skills 

·         Rudimentary knowledge/understanding of the key players in the regulatory community (e.g. the Federal Reserve, Bank of England, BIS)

·         Rudimentary understanding of and interest in the FX market, current and evolving regulatory environment, oversight of financial services, risk management expectations and standards, and the impact on CLS

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Success factors / ‘How’. Personal characteristics contributing to an individual’s ability to excel in the position

·         Able to work in a DFMU environment with extremely high standards and intense regulatory scrutiny

·         High ethical standards and a profound sense of urgency, integrity and confidentiality

·         Driven by own initiative, can work independently as well as collaboratively

·         Demonstrates appropriate awareness and skill on when and how to engage with stakeholders

·         Ability to build relationships, consensus, to influence both internal and external stakeholders

·         Loyal and results oriented team player

·         Ensures delivery and execution of results