The Compliance and Operational Risk (C&OR)Manager is responsible for engaging in activities to provide independent compliance and operational risk oversight of Front Line Unit (“FLU”) and Control Function (“CF”) performance and any related third party/vendor relationships in alignment with the Global Compliance Enterprise Policy, the Operational Risk Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs). As a member of an FLU or CF C&OR officer team, the C&OR Manager demonstrates and applies business acumen to promote a culture of risk management and the identification, escalation and timely mitigation of compliance and operational risks. This role exercises judgment and influence, and may constructively challenge FLU and CF leaders to support the CORM Program objectives, balancing business strategy with appropriate controls.
The C&OR Manager contributes to the requirements in the GCOR Policy aligned to compliance and operational risk officers, including but not limited to the following activities:
• Takes an active leadership role in maintaining and communicating regulatory changes, advising and directing business leaders to ensure that regulatory requirements are addressed in their respective process and controls so that their day-to-day activities operate in a compliant manner.
• Proactively engages other C&OR officers, Enterprise Areas of Coverage (EAC) roles, and horizontal function roles to provide comprehensive oversight of FLU and CF activities.
• Identify, collect, validate and record internal loss events and “near misses.” Perform root cause analyses on internal loss events and develop remediation plans to strengthen controls.
• Identify, review and document relevant external loss events.
• Conduct compliance and operational risk assessments of FLU and CF, incorporating review of external loss events to assess control effectiveness.
• Provides independent review and challenge of the FLU/CF’s Risk & Control Self-Assessment (RCSA).
• Leads the efforts and/or contributes to monitoring and testing coverage plans and related metrics for Front Line Unit (“FLU”) or Control Function (“CF”).
• Monitor and test the effectiveness of the front line unit and control function compliance and operational risk controls.
• Identify aggregate, report and escalate compliance and operational risks, issues and control enhancements.
• Contribute to Scenario Analyses to provide a forward-looking estimate of hypothetical operational losses.
• Executes and/or provides oversight of governance and management routines.
• Identify compliance and operational risk training needs, provide subject matter expertise to support development of training curriculum, and inspect FLU/CF and third party participation.
• Provides consultation to business leaders in preparations for regulatory exams and audits for FLU/CF and related Enterprise Areas of Coverage.
• Inspect that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
• Escalate regulatory relations concerns to Compliance and Operational Risk Executive.
The Compliance and Operational Risk Manager plans, drives and reviews team deliverables to support consistent quality of activities, processes and outputs. This role may contribute as a manager responsible for providing leadership direction to attract, assess, develop, motivate and retain a team, or may act as an individual contributor.
5+ years experience in global risk and/or compliance and operational risk.
Must be a self starter, proactive, team player
Proactive, analytical thinker
Excellent verbal communication skills
Excellent writing skills
Attention to detail
Experience in fixed income products and markets
Functional knowledge of laws, rules and regulations applicable to banking and securities activity
Prior experience in a Fixed Income Compliance and/or Control Function role
Experience in Securitized Products and Municipal Finance preferred by not required
Functional knowledge of multiple FICC market activities preferred including:
GSEs – Compliance with agreements, suitability, TMPG requirements and annual audit reviews
Securities regulation – Trade reporting (TRACE), suitability, communications/research, supervision, markups, best execution/order handling and Market Access
Advanced degrees, securities licenses, or regulator experience a plus, but not required
Able to work in trading floor environment
Shift:1st shift (United States of America)
Hours Per Week:40
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