Head Of Operational Risk And Compliance

Date
03/13/2017
Location
New York, NY
Compensation
N/A

Brief Description:

Our client; a Global European Bank is looking for a Head of Operational Risk & Compliance for their New York office. The position has responsibility for ensuring adequate compliance and operational risk mitigation throughout North American Operations, with a primary goal to ensure, in partnership with the heads of business and support units, full compliance with all relevant laws and regulations that the Bank may be subject to in North America.

Job Function:

• Full operating and daily management responsibility of the Operational Risk and Compliance Department and its personnel and business activities, including management and development of the personnel
• Work closely with direct reports to develop and align the functions according to the evolving needs of the organization and external requirements
• Responsible for setting action plans for the Operational Risk and Compliance Department to secure delivery and fulfillment of goals of the Bank.
• Ability to communicate with the Bank’s North America staff to ensure awareness and importance of their compliance and risk responsibilities while building a culture of managed risk and compliance
• Ultimately responsible for ensuring BSA/AML manual, broker/dealer compliance and supervisory procedures manuals, and all other compliance manuals, policies and procedures are developed and up-to-date
• Represent the Bank at a senior level towards relevant stakeholders locally and at Headquarters.
• Responsible for building relations and securing cooperation with relevant divisions/business units and strategic partners
• Ensure that the department has developed and implemented effective and efficient training programs for business and support staff relating to compliance with applicable laws, regulations and internal policies and to reflect best practices expectations
• Keep the Head Office organization informed about local markets and conditions as well as about areas, competence or knowledge the department can contribute to the global organization
• Responsible for partnering with business and support unit heads in securing compliance with internal policies as well as ensuring that the local operations comply with all applicable laws and regulations
• Responsible for optimizing the Bank’s brand and ensuring that the department is perceived as professional, competent and responsive with high ethical standards
• Ultimate management responsibility for all regulatory relationships, including oversight of examinations, to ensure those relationships are cordial and that North America is promptly and comprehensively responsive to regulatory requests and is perceived by the regulators generally (and, of course, genuinely acts) as the paradigm of a compliant and ethical organization
• Maintain awareness of regulatory developments including contact with other financial institutions; attending relevant seminars and conferences; study of periodicals and correspondence issued by OFAC, FinCEN, the New York State Department of Financial Services, the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York and various other regulatory support services.

Requirements:

  • Undergraduate degree with preference for additional academic business or legal degree
    • Excellent business understanding of and material experience in the U.S. financial industry
    • Strong international financial market understanding with focus on compliance
    • Familiarity with financial industry laws and regulations, including:
    o Anti-Boycott laws
    o Anti-Tying Statutes
    o Bank Bribery Act
    o Bank Secrecy Act
    o Cybersecurity and Other Information Security Regulations
    o FINRA Regulations

o Foreign Corrupt Practices Act (FCPA)
o Abandoned Property
o Mandatory Time Away (MTA)
o Reg GG (Internet Gambling)
o Reg W with Sections 23A/23B
o Securities Act of 1933
o Securities Exchange Act of 1934
o USA PATRIOT Act
o Securities Industry Series 7, 24 and 63 Licenses
o CAMS Certification Preferred
Required professional experience
• 15+ years relevant experience and documented skills from the same or corresponding areas
• 15+ years knowledge within the financial sector internationally
• 10+ years relevant management experience
• 10+ years relevant credit experience
• Experience working at a U.S. financial industry regulator or extensive experience managing financial regulatory relationships
• 10+ years managing a compliance function within a financial institution
• Experience as a Chief Compliance Officer or Deputy (or similarly titled) Chief Compliance Officer in the financial industry and preferred within a foreign branch and an affiliated broker/dealer
Personal skills
• Commercial skills and result orientation
• Customer and market orientation
• Leadership skills
• Relationship, mentoring and teambuilding skills
• Strategic and analytical focus
• Strong oral and written communication skills
• Highest personal integrity

Contact Details:

Steven Cebel

scebel@madisondavis.com

914-524-0301 ext 126