FX Compliance Officer, US Markets Advisory

Stamford , United States
Royal Bank of Scotland
Ref: 67050 Contract: Full-Time Posted:

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The Responsibilities

Role Summary:

Vice President, NatWest Markets US Markets Advisory is responsible for:

  1. Supporting the NatWest Markets US Markets Advisory team agenda and acting as a trusted advisor primarily to the FX Business, providing reasoned advice, training and surveillance support;
  2. Supporting Markets businesses in Front Office with regard to key regulatory and compliance issues;
  3. Partnering with Front Office and functional senior management to identify and manage potential compliance, regulatory and/or reputational issues and provide escalation to appropriate governance forums, as needed;
  4. Supporting the NatWest Markets US Regulatory Developments process, including identifying and tracking key regulatory issues, identifying and updating key stakeholders globally, and supporting implementation as required;
  5. Primary U.S. liaison with global trade and transaction surveillance team;
  6. Management reporting; and
  7. Exhibiting a culture of compliance and excellent conduct within the department

Role Responsibilities:

  • Act as trusted advisor on a day-to-day basis to the FX Business
  • Contribute as a team player in a challenging and evolving regulatory environment, incorporating a positive and flexible approach
  • Advise Front Office Supervisors and Senior Management on development/enhancement of Front Office supervision, policies, procedures and training, as needed
  • Ensure surveillance services delivered by global surveillance team are fit for purpose across all asset classes traded in the U.S.
  • Draft, revise and/or review compliance and desk policies and procedures
  • Facilitate in the preparation and delivery of mandatory and relevant ad-hoc training to staff, as appropriate
  • Draft, revise and/or review compliance notices
  • Review and provide advice regarding New Products and participate in the Significant Change Approval Process
  • Contribute to managing the NatWest Markets Americas Regulatory Developments lifecycle and advise the business on regulatory developments, including Final and Proposed Rules, Advisories, Guidance, No-Action Letters, etc.
  • Participate in annual rules-based and conduct-based risk assessments
  • Assist with developing and executing against the annual Compliance Plan
  • Participate in regulatory and conduct-driven change programs
  • Participate in ISDA, SIFMA and other relevant industry forums, as needed, as well as other periodic ad hoc calls regarding regulatory initiatives
  • Participate in Internal Audit exams and US RCR Assurance reviews of trading desks, products and relevant programs, as needed
  • Provide support and advice, as needed, to the business on the management of risks, including interpreting and complying with regulatory expectations, the relevant risk policy standards and risk management framework

Critical People Standards required for the role:

  • Work closely with the Advisory Team and Compliance senior management  to manage all aspects of the Advisory Program
  • Ensure all internal and external relationships are open, transparent and in good faith
  • Collaborate closely with business units, risk management, and relevant support functions to ensure appropriate stakeholder involvement to resolve CIB Americas advisory-related issues
  • Escalate, monitor, track, and report NatWest Markets Americas advisory-related issues to senior management and/or appropriate governance committee regulatory issues to ensure the timely and effective resolution
  • Proactively assist in all aspects of regulatory inquiries, exams and requests
  • Analyze regulatory trends and developments to determine impact on CIB Americas business conduct, policies and procedures, systems and processes
  • Help to drive RCR and NatWest Markets Americas policies, practices and initiatives, as appropriate
  • Communicate and coordinating with counterparts globally throughout RCR and NatWest Markets on advisory and regulatory matters affecting the organization
  • Participate in special projects and initiatives, including regulatory remediation activities, as needed

Role Qualifications:

Experience:

  • Deep experience and familiarity with FX market and compliance matters, including a focused understanding of inherent risks and conflicts
  • Experience with how other markets relevant to NatWest Markets function, including Fixed Income Securities and Derivatives (futures, swaps, fixed income and equity options) as well as an understanding of the risks inherent in such activities, products and services
  • Experience and familiarity with relevant regulatory rules; particularly CFTC rules, including Dodd-Frank
  • Ability to apply a rules based approach and  to understand and apply regulation applicable to business unit(s) under coverage
  • Proven ability to work collaboratively and persuasively across the organization to leverage available resources and talent to help drive activities to completion
  • Ability to communicate with knowledge and credibility to all levels of management, including appropriate management committees; offering well-considered compliance and regulatory risk management solutions and recommendations
  • Understanding of regulatory risk management and regulatory expectations
  • Understanding of financial, operational and IT controls
  • Experience in the design of relevant trade and transaction surveillance

Other Role Requirements:

Essential:

  • BA/BS degree
  • Direct experience providing compliance support to FX business
  • 5-7 years securities industry experience
  • Technical Knowledge:  MS Suite (MS Word, Excel, PowerPoint)

Desirable:

  • MBA or JD
  • FINRA Series 3, 4, 7, 14, 24, and/or 63

FX Compliance Officer, US Markets Advisory

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