Summary:
The Compliance Regulatory and Assurance (CPL RA) team is a recently established “Center of Excellence” within the CACIB Compliance Function reporting directly to the Chief Compliance Officer (CCO). The CPL RA team provides strategic and centralized management of the supervisory activities of the Firm's regulators and related developments, focusing on regulatory reviews and examinations and continuous monitoring activities. CPL RA serves as the central point of contact with key supervisory regulators globally to facilitate open, cooperative and constructive relationships; provides advice and guidance on regulatory interactions and engagement; oversees responses to and commitments made to regulators; and apprises Senior Management and relevant governance bodies and stakeholders of these matters and related significant regulatory developments. The CPL RA team is comprised of four coverage areas: Project Management, Regulatory Coordination, Regulatory Watch, and Assurance.
- Project Management – lead projects/initiatives initiated by Compliance and assigned by the CACIB Americas CCO. This requires coordination with various parties including the Project Sponsor, Project Owner, and Project Stake holders.
- Assurance – Provide an independent review/assessment of CACIB US CPL Recommendation Closure Memos covering all issues including Regulatory, Audit, and Model Reviews. Discusses the Recommendation Closure Memo with Compliance senior management for approval and addresses any comments/questions.
- Regulatory Watch – responsible for coordinating and performing regulatory watch and regulatory change management in the context of compliance risks as defined in the CACIB US Compliance Risk Management Program.
- Regulatory Coordination – coordinate the exams conducted by Prudential and Capital Market Regulators as well as the Continuous Monitoring/regulatory progress updates related to Compliance.
Key Responsibilities:
The Head of Regulatory and Assurance is mainly responsible for
- Supervising the Regulatory and Assurance team's activities of all aspects via various measures including KPIs and MIS reporting and ensuring the high productivity and good performance of the team
- Directing and providing guidance for all aspects of regulatory examinations by the FRB, DFS, SEC, CFTC, FINRA, NFA, state regulators and exchanges
- Providing advice and directing the Firm's formal response to regulatory findings and assisting in the coordination of any remediation
- Managing and guiding regulatory communications covering the regulatory achievements, remediation progression
- Communicating with key stakeholders, including senior management in CPL, business and risk regarding exam status and potential findings
- Developing and implementing Project Management and assurance methodology, challenge framework and templates for independent assurance review and establishing the governance framework for review of the assurance review results
- Providing centralized Project Management and Quality Assurance support on Compliance Issue Remediation efforts undertaken by the remediation owners across functions
- Performing an autonomous check and robust challenge on the end-to-end remediation performed by ensuring all elements of the findings have been addressed completely and accurately and test for design effectiveness, adequacy and sustainability of the remediation
- Educating and advising the first and second line of defense through periodic training or other media on emerging risks and potential issues based on evolving regulatory environment and supervisory expectations
- Promoting the culture of self-identification of issues across the organization and establishing a robust framework to identify report and remediate self-identified issues
Qualifications/Education Required:
- Bachelor Degree
- Mater Degree or JD preferred
Experience Required:
- At least 15 years of professional experience in the banking industry, focusing on Regulatory Affair, Compliance, Risks, Project Management, Internal Audit, etc.
- Experience in managing regulatory exams and relationships with examiners and auditors
- Extensive knowledge of appropriate regulatory requirements including local and US laws, international and industry standards
- Direct experience with regulators preferred, such as FRB, DFS, SEC, CFTC, NFA, FINRA preferred
- Experience in dealing with US banking regulators preferred
- Experience in regulatory project management
Competencies Required:
- Strong understanding of regulatory requirements, guidance, and expectations
- Capable of understand and analyze complex situations
- Proven track record of completing large scale remediation efforts
- Demonstrated leadership and motivational skills
- Ability to work with regional and global partners, and influence and lead people across culture and senior level
- Ability to quickly grasp key concepts and take ownership of deliverables
Skills & Knowledge Requirements:
- Excellent verbal, writing, and presentation skills with the ability to interact with stakeholders at all levels within the organization and be able to relay complex technical concept to non-technical audience
- Strong analytical, problem solving, and organizational skills
- Strong influencing and negotiating skills
- Expert in using Excel and PowerPoint preferred
- Proven project management expertise preferred