Executive Director, Compliance

The Compliance Function:

The Office of the Chief Compliance Officer (i) monitors and reports results of all compliance/ethics/supervisory related efforts of the firm, and (ii) provides guidance to the firm and the Board on matters relating to Compliance. It operates as an independent and objective body that (i) assesses compliance risks (ii) implements and provides guidance on the implementation of compliance programs and tracks remedial actions required to address compliance issues/concerns across the firm.

The Office of the Chief Compliance Officer oversees execution of all programs intended to mitigate compliance risks, currently, 1) the Corporate Compliance program, 2) the AML/OFAC compliance programs, 3) the Records and Information Management program, and 4) the Supervisory Affairs program with CLS's lead regulators, the Federal Reserve Board in DC and the FRBNY in NY.

Essential Functions

Major duties and responsibilities of the job

Under the direction of the CCO, take a lead role with the following:

Strategic

• Identification of key applicable laws and regulations
• Assessment of compliance risks in collaboration with Operational Risk Management based on the identification of key applicable laws, regulations, and best practices
• Development, maintenance, and implementation, as needed, policies and procedures for the general operation of all compliance programs to prevent illegal, unethical, or improper conduct and periodically reviews and updates Standards of Conduct to ensure continuing currency and relevance in providing guidance to management and employees
• Identification of potential areas of compliance vulnerability and risk; develops/implements corrective action plans for resolution of problematic issues, and provides general guidance on how to avoid or deal with similar situations in the future
• Collaboration, as appropriate, within the division to develop effective compliance training programs including appropriate introductory training for new employees as well as on-going training for all employees and managers

Operational

• Data Protection Officer
• Collaboration with other functions to direct compliance issues to appropriate existing channels for investigation and resolution
• Responding to alleged violations of rules, regulations, policies, procedures, by evaluating or recommending the initiation of investigative procedures
• Acting as an independent review and evaluation body to ensure that compliance issues/concerns within the firm are being appropriately evaluated, investigated and resolved
• Monitoring, and as necessary, coordination of compliance activities of other departments to remain abreast of the status of all compliance activities and to identify trends
• Providing reports on a regular basis, and as directed or requested, to keep the Board and senior management informed of the operation and progress of compliance efforts
• Planning, coordinating, implementing and finalize projects according to specifications, deadlines, and budget

Leadership

• Representation, in London, of the Corporate Compliance function
• Monitoring the performance in London of a number of Compliance Programs and related activities on a continuing basis, taking appropriate steps to improve its effectiveness
• Liaising with the Compliance leads in the US to ensure comprehensive coverage

Knowledge, Skills and Abilities

Competencies required for successful job performance

• Superior leadership and communications skills
• Strong working knowledge of global capital markets, and financial market infrastructures
• Sound understanding of compliance principles and philosophy
• Proven success in training and developing staff
• Working knowledge of key US and UK statutes and regulations applicable to banking industry

Essential Qualifications

Experience, education and any certifications as necessary for successful job performance

• University and Law degree
• Experienced in a global banking environment
• In-depth experience in compliance, risk management and/or internal audit functions, within a financial services context
• Experience in working with different levels within a firm
• Experience managing compliance risks across entire firm
• Demonstrable industry experience in payments and settlement systems or other financial infrastructure

Desired Qualifications

Experience, education and any certifications as necessary for successful job performance

Post-graduate Degree and Compliance Certifications

Experience with FX markets, financial infrastructure and in-depth understanding of specific statutes/regulations

Success Factors

Personal characteristics contributing to an individual's ability to excel in the position

• A leader with gravitas able to champion compliance initiatives and make them a priority for each Division within the firm
• High ethical standards and a profound sense of integrity and confidentiality. A voice of reason
• Highly focused and dedicated results oriented team player
• Superior interpersonal communication skills, both written and verbal
• Commitment to setting the tone and influencing the culture at the firm