Regulatory Compliance Manager Jobs

Position: Regulatory Compliance Manager

Location: Montreal, QC

Duration: 10 Months

Job Type: Contract

Work Type: Onsite

Pay: $96-$96.00/hr

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This team is part of GMA COOO and is in charge of managing regulatory risks for Global Markets Americas, with a focus on US regulations but also global regulations relevant to the business.

This includes: Advocacy & regulatory watch:

• This team acts a coordination point within GMA for all regulatory examinations and inquiries, interfacing with SRG
• Sharing knowledge with the business and organizing preliminary impact analysis
• Regulatory Change Management : Ensuring that new regulations impacting Global Markets activities are properly understood and that the required changes to behaviours, systems or processes are implemented ahead of the regulatory timeline
• Business-as-Usual Governance: For regulations that are already effective, the team is in charge of the governance framework, including running senior committees, where GMA Senior Managers, Compliance officers and other relevant functions discuss any compliance risks, results of controls and industry regulatory matters.
• Regulatory Inquiries and Examinations Management:
• Contributing to the advocacy efforts, when required, in collaboration with the PPRA team or the GM Regulatory team in Europe, providing input on implementation challenges when regulators propose new rules.

Detailed Responsibilities for this Regulatory Project Manager :

• Work in partnership with the US or global public affairs teams to ensure of areas that require advocacy are well identified
• Provide regular briefs to the business
• US Treasuries public dissemination
• Conflicts of interest for ABS
• Trace Reporting
• This role should have a specific focus on the large rulemaking pipeline by SEC, FINRA and US Treasury that will likely result in significant changes in the 2023-2025 time window. Key changes are expected in :
• ESG Disclosures
• Security Based Large Position reporting
• Participate to regulatory watch process
• Equity market structures (Best execution, Order reporting, competition around retail orders, etc)
• US Treasuries & Repos clearing
• Participate to Industry forums (ISDA, SIFMA, FIA) when relevant

Lead regulatory projects as a result of new regulations issued by regulators

• Promote when relevant the standardization of practices across all Global Markets
• Work closely with Global Markets trading and sales heads, GBLs and local Business Management and other internal business partners (Public Affairs, Risk, Finance and ITO), and act as a key contact point
• Validate interpretation of the rules with Legal and Compliance
• Structure regulatory project governance
• Ensure regular update to management on key implementation risks
• Support Global Markets Business adaptation to new regulatory requirements by providing business with the necessary information to better understand impact of new regulations and define implementation priorities
• Partner with Drive teams to design the required Front to Back process and IT re-engineering
• Participate in training and awareness of staff
• Contribute to maintain a central repository of documents relating to each major regulation in scope

This person will drive implementation for final rules published by SEC / FINRA / CFTC / US Treasury. This role is also expected to work on existing regulatory projects such as:

• Margin rules for uncleared swaps (equity options exemption expiry for 2024- Jan; changes to in-scope clients occurring every year)
• Post Go live stabilization + remediation CAD CDOR (2023-Q4 to 2024-Q2)
• Other changes to SEC / CFTC Swap Dealer Rules
• USD LIBOR Transition (2023 Q3 to Q4)

Management of Regulatory BAU

• Monitor all regulatory findings issued by agencies and verify that the relevant ownership and remediation plan has been established
• Answer questions from staff and clients if required
• Contribute to non Conduct RCSA if relevant
• Organize BAU forums to collect the results of relevant regulatory controls, internal audits, industry insights, regulatory guidance and provide GMA management with a complete picture of ongoing improvements and risks associated with our compliance framework

Minimum required qualifications

• Desired: Graduate business degree
• Business expertise
• 10 to 15 years’ experience in financial sector. The role is open to Senior VPs who would meet the requirements below.
• Experience working directly with front office staff
• Ability to influence
• Attention to detail and ability to manage multiple priorities, complete work accurately and in a timely manner against strict deadlines.
• Deep understanding of Corporate and Investment Banking / Capital Markets activities either working in Business, Risk, Audit or Operations departments
• Ability to work both independently and collaboratively with members of the management team and other colleagues across the bank
• Ability to manage change and drive business process re-engineering
• Prior involvement in regulatory projects applicable to Banks, Broker Dealers and FCMs also desired

Behavioral & Management Skills

• Team player able to communicate efficiently with a global network of people (Business and Functional Partners, Group)
• Project management & organizational skills
• Strategic thinking and analytical reasoning
• Excellent analytical, verbal and written communication skills.
• Ability to interact with experienced managers (COO, CEO level) and provide effective briefs on risks and issues

Adaptability Technical Skills

• Proficiency in Microsoft Office (Word, Excel, PowerPoint, Project)