Manager, Regulatory Compliance
The Manager will be responsible for :
• adhering to the Framework, Policies and Control Standards defining the company's organizational approach to identifying, assessing, communicating, managing and mitigating Regulatory Compliance Risk.
• implementation and execution of regulatory compliance monitoring activities for the Luxembourg businesses.
• promoting a strong culture of ethics, compliance and integrity across Lines of Business, consistent with company’s strategic objectives and risk appetite.
• executing the oversight program, in line with the Bank’s Oversight Framework, to ensure that all regulatory standards and Compliance Charter & Code of Conduct are adhered to and appropriately implemented for the Bank and its branches and subsidiaries.
• ensuring that all governance and reporting is accurate, complete and delivered in line with agreed timelines.
• ensuring that the compliance policies, procedures and standards meet local requirements and are communicated timely to our employees.
• instilling with the businesses the central role they play as the First Line of Defence. Promote strong compliance culture to ensure that the company complies with its regulatory obligations and ethical standards.
• provision of support, upon request, to Business stakeholders, Functional Partners and Compliance peers.
• supporting specific regulatory projects in collaboration with the Advisory and/or AML teams, within the scope of the mandate.
Monitoring & Testing
Accountable for adhering to the compliance framework and standards governing monitoring and control activities, including:
- Completion of periodic Risk Assessment processes supporting the establishment of risk-based Compliance Monitoring Plans.;
- Helping to ensure the Compliance Monitoring Framework is appropriately implemented across the relevant businesses within the geography;
- Supporting the establishment and ensuring the completion of a yearly Compliance Monitoring Program in Luxembourg for areas assigned
- Escalation of significant regulatory and compliance risk issues and deficiencies to relevant business executives and Compliance Management.
- Ensure implementation of an adequate framework for the recording and follow up of Compliance findings.
- In conjunction with the relevant businesses, ensure an appropriate and effective response to and resolution of any compliance issues or deficiencies identified.
- Prepare regular reporting to the CCO and towards other stakeholders (e.g. GRS) and participate to coordination meetings (e.g. SMO)
Oversight of Branches & Subsidiaries
- Responsible for leading periodic oversight calls for assigned countries, according to requirements set under the Oversight Framework.
- Responsible for coordinating and overseeing the yearly Compliance Monitoring Program for the Bank’s subsidiaries and branches
- Provide support to the Advisory and AML team in regards to the required information and collaboration of Branches & Subsidiaries
- Be contact point in case of Regulator or Auditor inquiry regarding Branches and Subsidiaries
- Standardize reporting and harmonize approach in collaboration with Corporate Secretary Team.
- Responsible for ensuring that all elements and tool are maintained effectively such that they are up to date, accurate and complete.
- Responsible for completing issues and M&T information in RegComp and CALMA on time with governance processes followed. Any potential slipped issues to be discussed with CCO, Europe and APAC prior to the update in tool and in good time.
- Implement enhancements to company's Regulatory Compliance Management Framework as they occur and work to embed programs into BAU.
- Responsible for provision of quality information to feed and support reporting to authorised management and Board Audit and Compliance Committee on shortcomings and irregularities identified through monitoring and oversight processes.
- Acquire / Maintain detailed knowledge of applicable market conduct, securities, fiduciary, collective investment schemes, banking, prudential regulations and best practices and relevant internal policies and procedures.
- Prepare, review and/or validate Outsourcing Assessments (BOA) for new projects, clients integrations, processes. Coordinate with subs and branches in case of the global project.
- Maintain records of Outsourcing Assessments.
- Support the Advisory team by keeping abreast of the latest developments/changes of statutory or regulatory requirements and updating change log.
Training & Procedures
- Responsible for recommending improvements and providing input to the Advisory group for he update of policies and procedures to address the identified risks;
- Monitoring and follow-up on the implementation of the Bank’s policies at the level of its Branches & Subsidiaries
- Monitor together with Learning & Development the employee participation rate to mandatory training programs.
Qualifications & Skills:
-4-7 years experience
• Excellent knowledge of applicable laws and regulations
• Good knowledge of the services offered by banks
• In-depth knowledge of compliance-related CSSF circulars in Luxembourg
• Good oversight knowledge of regulation applicable to subs and branches
• Excellent analysis and writing skills.
University Degree in the area of Finance, Law, Business Administration or similar.