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Prime Brokerage Compliance and Operational Risk Specialist

New York, New York

Job Description:

The Compliance and Operational Risk (“C&OR”) Specialist assists the C&OR officer team in activities to contribute to the independent compliance and operational risk oversight of Front Line Unit or Control Function (“FLU/CF”) performance and any related third party/vendor relationships in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs).

The C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Specialist is accountable for assisting the C&OR Team in the proactive identification, escalation and timely mitigation of compliance and operational risks through the execution of some or all of the following activities:

• Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
• Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
• Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
• Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
• Assists in remediating C&OR “owned” issues and control enhancements
• Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
• Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls
• Assists with the development of risk metrics, monitors related performance and breach remediation

The Equities Compliance and Operational Risk (C&OR) Specialist is responsible for engaging in activities to provide independent compliance and operational risk oversight of the Prime Brokerage (FLU) business 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 the Equities C&OR officer team, the C&OR Specialist demonstrates and applies business acumen to promote a culture of risk management and supports 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 Specialist contributes to the requirements in the GCOR Policy aligned to compliance and operational risk officers, including but not limited to the following activities related to Prime Brokerage:
• Proactively engages other C&OR officers, Enterprise Areas of Coverage (EAC) roles, and horizontal function roles to provide comprehensive oversight of FLU activities.
• Owns and updates the relevant C&OR Policies, including the Prime Brokerage and Futures Commission Merchant (FCM) Policies, working with the relevant stakeholders to update regularly.
• Provides guidance to the FLU on Prime Brokerage requirements, including those related clearing, settlement, futures activities of the FCM, and capital introduction services.
• Reviews and responds to regulatory inquiries.
• Leads certain daily pre-opening processes, including reviewing daily allocation reports, monitoring for issues, among other tasks.
• 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 processes and controls so that their day-to-day activities operate in a compliant manner.
• Conducts targeted and risk assessments of the Prime Broker FLU, incorporating review of external loss events to assess control effectiveness.
• Provides independent review and challenge of the FLU’s Risk & Control Self-Assessment (RCSA).
• Leads the efforts and/or contributes to monitoring and testing coverage plans and related metrics.
• Monitors and tests the effectiveness of the FLU compliance and operational risk controls.
• Identifies, aggregates, reports, and escalates compliance and operational risks, issues and control enhancements.
• Executes and/or provides oversight of governance and management routines.
• Identifies compliance and operational risk training needs and provides subject matter expertise to support development of training curriculum.
• Provides consultation to business leaders in preparation for regulatory exams and audits.
• Inspects that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
• Escalates regulatory-related concerns and other issues to the C&OR Executive

Required/Desired:

• 3-5 years working in prime brokerage, equities, or relevant risk management experience;
• Degree Required: Bachelor’s Degree or equivalent experience
• Excellent interpersonal skills
• Strong verbal and written communication skills
• Experience demonstrating initiative and an eagerness to learn
• Detail-oriented and ability to work in a fast-paced environment and under pressure

Job Band:

H5

Shift: 

1st shift (United States of America)

Hours Per Week:

40

Weekly Schedule:

Referral Bonus Amount:

0

Job Description:

The Compliance and Operational Risk (“C&OR”) Specialist assists the C&OR officer team in activities to contribute to the independent compliance and operational risk oversight of Front Line Unit or Control Function (“FLU/CF”) performance and any related third party/vendor relationships in alignment with the Global Compliance -- Enterprise Policy, the Operational Risk Management -- Enterprise Policy (collectively “the Policies”) and the Compliance and Operational Risk Management (“CORM”) Program and Standard Operating Procedures (SOPs).

The C&OR Specialist assists in engaging other C&OR officers, including horizontal coverage owners and Enterprise Areas of Coverage (“EAC”), to provide comprehensive oversight of FLU/CF activities. This role assists in developing and maintaining a global coverage plan which defines the scope and risk-based focus of the second line’s risk management activities. The C&OR Specialist assists in preparing materials for C&OR regulatory exams/audits/inquiries and may assist with preparation for FLU/CF regulatory exams/audits/inquiries.

The C&OR Specialist is accountable for assisting the C&OR Team in the proactive identification, escalation and timely mitigation of compliance and operational risks through the execution of some or all of the following activities:

• Assists in the development of independent risk management reporting for respective area(s) of coverage as input into governance and management routines
• Contributes to the oversight of FLU/CF training which may include content development and/or tracking and communication of employee completion rates
• Assists with the development and maintenance of C&OR owned policies and standards and/or the oversight of FLU/CF-owned policies, standards and procedures to ensure regulatory and operational risk requirements are appropriately addressed, inclusive of conduct risk as applicable
• Monitors the regulatory environment to identify regulatory changes applicable to area(s) of coverage and maintains a comprehensive regulatory inventory; may support communication of regulatory changes to the FLU/CF and ensuring that policies, standards, procedures and/or processes are appropriately implemented or amended to address regulatory requirements
• Assists in identifying, aggregating, reporting, escalating, inspecting and challenging remediation plans, and performing thematic analysis on FLU/CF-owned issues and control enhancements
• Assists in remediating C&OR “owned” issues and control enhancements
• Contributes to risk coverage plan development, executes independent risk monitoring, testing, and risk assessments, communicates results
• Reviews and challenges the FLU/CF process, risk, control (PRC) inventory and FLU/CF Risk & Control Self-Assessment (RCSA)
• Supports the review and challenge of internal and external operational loss events, including development of remediation plans to strengthen controls
• Assists with the development of risk metrics, monitors related performance and breach remediation

The Equities Compliance and Operational Risk (C&OR) Specialist is responsible for engaging in activities to provide independent compliance and operational risk oversight of the Prime Brokerage (FLU) business 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 the Equities C&OR officer team, the C&OR Specialist demonstrates and applies business acumen to promote a culture of risk management and supports 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 Specialist contributes to the requirements in the GCOR Policy aligned to compliance and operational risk officers, including but not limited to the following activities related to Prime Brokerage:
• Proactively engages other C&OR officers, Enterprise Areas of Coverage (EAC) roles, and horizontal function roles to provide comprehensive oversight of FLU activities.
• Owns and updates the relevant C&OR Policies, including the Prime Brokerage and Futures Commission Merchant (FCM) Policies, working with the relevant stakeholders to update regularly.
• Provides guidance to the FLU on Prime Brokerage requirements, including those related clearing, settlement, futures activities of the FCM, and capital introduction services.
• Reviews and responds to regulatory inquiries.
• Leads certain daily pre-opening processes, including reviewing daily allocation reports, monitoring for issues, among other tasks.
• 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 processes and controls so that their day-to-day activities operate in a compliant manner.
• Conducts targeted and risk assessments of the Prime Broker FLU, incorporating review of external loss events to assess control effectiveness.
• Provides independent review and challenge of the FLU’s Risk & Control Self-Assessment (RCSA).
• Leads the efforts and/or contributes to monitoring and testing coverage plans and related metrics.
• Monitors and tests the effectiveness of the FLU compliance and operational risk controls.
• Identifies, aggregates, reports, and escalates compliance and operational risks, issues and control enhancements.
• Executes and/or provides oversight of governance and management routines.
• Identifies compliance and operational risk training needs and provides subject matter expertise to support development of training curriculum.
• Provides consultation to business leaders in preparation for regulatory exams and audits.
• Inspects that commitments made regarding actions in response to Matters Requiring Attention (“MRAs”) and other actions are completed.
• Escalates regulatory-related concerns and other issues to the C&OR Executive

Required/Desired:

• 3-5 years working in prime brokerage, equities, or relevant risk management experience;
• Degree Required: Bachelor’s Degree or equivalent experience
• Excellent interpersonal skills
• Strong verbal and written communication skills
• Experience demonstrating initiative and an eagerness to learn
• Detail-oriented and ability to work in a fast-paced environment and under pressure

Shift:

1st shift (United States of America)

Hours Per Week: 

40

Learn more about this role

Full time

JR-21081419

Band: H5

Manages People: No

Travel: No

Manager:

Talent Acquisition Contact:

Alexander Watkins

Referral Bonus:

0

Street Address

Primary Location:
ONE BRYANT PARK, NY, New York, 10036