Chief Compliance Officer - Brokerage Division - Major IB Chief Compliance Officer - Brokerage Division -  …

Hays Financial Markets
in London, England, United Kingdom
Permanent, Full time
Be the first to apply
Hays Financial Markets
in London, England, United Kingdom
Permanent, Full time
Be the first to apply
Hays Financial Markets
The Company: One of the world's top investment bank's has a unique and specialist division devoted to providing the execution and clearing of exchange traded derivatives (ETD) primarily on behalf of institutional clients. The division also provides over-the-counter (OTC) products and prime brokerage services as well as acting as a foreign swap dealer.

The Role:

The Compliance function is split into two key areas: Advisory & Central Compliance with outsourced support from the main bank in respect of Monitoring & Testing, Surveillance, Training, Conduct Risk etc...

  • Advisory Compliance works with the business to provide support, guidance and regulatory expertise to matters arising.
  • Central Compliance acts in an oversight and control capacity to ensure all operational regulatory obligations are adhered to.

The Brokerage division is a separately regulated entity and as such has its own set of rules, policies and regulatory commitments to adhere to.

As the Chief Compliance Officer for the division, you will report directly to the CEO and the Board ensuring that all regulatory and reputational risks are robustly defended in an open and transparent manner.

  • You will have oversight of the compliance advisory team supporting the Prime Brokerage & Clearing business line within the Global Markets division of the bank with functional links to the Asian and US business,
  • Engagement and oversight of other compliance functions such as Trade Surveillance and E-communication Monitoring, Financial Crime, Registrations, Regulatory surveillance, Regulatory Awareness and Policies; Compliance reviews, control room, compliance advisory functions for support functions, and Prime Clearing Services business line
  • Participate in the subsidiary governance and be the link with FCA as primary regulator and other regulators - (NFA, SEC)
  • Establish and maintain a constructive, open relationship and dialogue with Heads of Business and key Compliance Officers within the bank
  • Advise and alert senior management on key compliance and regulatory risks affecting the division, offering practical, timely and adapted solutions to address and mitigate these risks as well as assisting management in the implementation of appropriate risk management solutions
  • Alongside CEO manage supervisory relationship and all other interaction with FCA working with UK Head of Regulatory affairs where appropriate.
  • Equally manage relationships and ongoing communication with other applicable regulatory bodies including the European Central Bank (ECB) and National Futures Association (US NFA).
  • Alongside markets compliance Advisory, build and manage relationships with other execution and clearing hubs in Paris, the US and APAC ensuring communication and co-ordination on key cross border issues.
  • Manage and organise the Central compliance team to deliver all core Compliance responsibilities to support the CF10 in managing regulatory and non compliance risk:
  • Design and monitoring of the yearly compliance plan
  • Identification and implementation of new solutions across the team to achieve efficiencies
  • Drafting and reviewing compliance policies and updating them as necessary, reviewing policies written by the bank to make sure that the subsidiary are appropriately covered.
  • Oversee completion and maintenance of compliance issues and breaches log (for example client money rule breaches, transaction reporting breaches, customer complaints, Regulators and exchanges enquiries and responses, etc) via internal tool Trouble Tracker and regular follow up on "open" breaches/issues;
  • Oversee and review the policies and controls in place for countering risk that the firm might be used to further market abuse.
  • Work closely with the CASS team and take part in CASS breach identification meetings;
  • Prepare and / or review Compliance reports as and when required, including the quarterly compliance report produced to the Board risk committee and the annual CCO report to be submitted to the NFA.
  • Manage the production and definition of appropriate Compliance management information for the management

The Candidate:

  • University degree educated
  • Preferably a holder of the FCA CF10 or SMF16 designation
  • Over 10 years experience in Investment Banking or Brokerage Compliance
  • A strategic approach to Compliance - the ability to consider the impacts of process change in an operational and commercial sense.
  • A good understanding of the processes involved in Execution & Clearing of derivative trades
  • Very strong knowledge of the regulatory obligations inherent in international OTC trading, exchange trading and Prime Services.
  • Experience interacting and advising board level management on Regulatory Developments
  • Excellent interpersonal skills with the ability to engage well at all levels.
  • Strong ability to assimilate and integrate in a matrix approach to regulatory governance.

This is an excellent opportunity for an individual who is looking to accelerate their career in Compliance within one of the top banking group's in the world.

What you need to do now
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