Fixed Income Rates Advisory Compliance £50k-£70k
- London, England, United Kingdom
- Permanent, Full time
- Holmes Search
- 13 Nov 18
Providing advisory Compliance coverage and compliance support primarily for the London G10 Rates (“G10R”) and Asset & Liability Management – Treasury (“ALMT”) businesses, as well as to GMAT (Global Markets ALMT) and xVA, as part of the Markets Compliance team coverage. To promote the Compliance programme in relation to new activities, transactions, other compliance arrangements, and implementation and management of relevant global policies, codes of conduct and new regulation. To assist in procedure creation and setting, regulatory watch and relationship with local regulators.
- Provide day to day compliance support and advice to the G10R, ALMT & xVA businesses and their senior management, on a range of topics including new transactions, products and business activity.
- Contribute to the definition and implementation of monitoring procedures to identify actual or potential market abuse scenarios, insider dealing activities, conflicts of interests arising, benchmark manipulation and other compliance risks
- Provide support and to assist in carrying out compliance of the business areas in scope.
- Dealing with and answering regulatory and exchange trading related questions and enquiries that arise.
- Contribute to, and represent the Compliance view at new activity / transaction approval committees, when requested to do so.
- Contribute to the relationship with local Regulators in support of Compliance Management.
- Advise the business on the impact of exchange rules, regulatory changes, codes of conduct and the like.
- Contribute to the design and delivery of compliance training for the businesses in scope.
- Ensure appropriate record keeping of advice given and provide Management Information.
- Provide Compliance advice to all levels of the business on Compliance policy and procedures, as directed by the Head of UK Compliance and in accordance with the compliance general policy of the Group and CIB
- Provide advice on compliance issues related to transactions, products, benchmarks, regulatory matters to the businesses covered (and saving of records of advice provided)
- Oversee the application of compliance controls related to the framework surrounding transactions, products or businesses within the businesses covered (and saving of records of checks performed), including notably:
- that analysis of transactions takes place according to Group and CIB norms, standards and processes
- that there are in place procedures that seek to ensure an audit trail and a record of transaction analysis
- Share Compliance intelligence (lessons learned, regulatory change etc) with the Head of Markets Compliance and, where relevant, the Head of UK Compliance and appropriate Global Heads of Compliance on local laws and regulations impacting their areas of concern.
- Contribute to the new business, new transaction and index/benchmark committees (TAC, NAC, IAC and others) as necessary (including via pre-NAC and TAC processes), liaising as relevant with the CIB Compliance Transversal Team to prepare TACs on cross-border transactions
- Alert the Head of Markets Compliance and the Head of UK Compliance of all significant and urgent compliance matters/issues and, where appropriate, systematic escalation of all significant transactions / arrangements to senior Compliance management.
- Contribute to the relationship with the FCA, PRA and other regulatory bodies in support to the Head of UK Compliance
- To provide input to compliance-related reporting to the Head of UK Compliance, and as relevant Global Heads of Compliance, in accordance with Group or CIB Compliance templates and on timely basis
- To be aware on an on-going basis of key applicable laws and regulations and market practices through reading, training
- Actively contribute to Conduct and Operational Risk committees and other control committees.
- Oversee the implementation of regulatory change in the businesses covered and across the broader Global Markets business.
- Produce Management Information and updates.
- Provide support and backup to other Fixed Income Compliance Officers with in the Markets Compliance team, as and when needed.
- As appropriate to seek to implement Regulatory, Group and CIB standards to prevent market abuse and to ensure high standards of market conduct:
- In collaboration with the relevant Compliance team, to contribute to the definition and implementation of monitoring procedures to identify actual or potential market abuse scenarios, insider dealing activities, conflicts of interest, benchmark manipulation and other compliance risks
- In collaboration with the relevant Compliance team, to contribute to the definition and implementation of monitoring procedures to check that customers are treated fairly, in accordance with Group and CIB standards and local regulations, in relation to the execution of their orders and/or the terms and conditions of their transactions
- To assist the Control Room as appropriate by seeking to ensure that the business provides information to allow for the maintenance and update of the conflicts register, watch list, restricted list and insider lists, and to work with Control Room and the business as appropriate to seek to ensure that Information Barriers are satisfactorily set up and maintained
- Where appropriate, to assist the Head of Compliance Training in compliance awareness-raising and information towards relevant staff in the UK, including for example via:
- providing orientation on compliance issues to new employees
- contributing to the design and delivery of compliance training
- Where appropriate, to assist the PA Dealing/Outside Business Interests Officer with the implementation by the business of the relevant Group, CIB and UK requirements
Day-to-Day CIB Compliance Operations
- To assist in the appropriate implementation of Group / CIB and other policies and procedures
- To help ensure the delivery of day-to-day operational compliance activities in the Territory (including putting in place appropriate systems/processes to manage compliance risks, execution of compliance operational permanent controls, internal investigations on compliance matters, etc.).
- Where appropriate, to assist the Control Room in enhancing/implementing policies and procedures relating to the management of conflicts of interest and the management of confidential information - and ensuring that the business lines understand and observe these requirements.
- As required, to contribute to committees by representing Compliance.
Risk Identification and Management Tools
- Contribute to the set up, implementation and operation of risk identification and management tools designed by Group, CIB Compliance & Control Functions, and UK Compliance.
- Contribute to the implementation within G10 Rates and ALMT of Regulatory, Group and CIB standards against money laundering, fraud, corruption, terrorism, etc.
Projects and Initiatives
- As directed, to contribute to UK, regional or global projects with a view to ensuring that they are delivered effectively and efficiently
Legal and Regulatory Responsibilities
Comply with all applicable legal, regulatory and internal Compliance requirements, including, but not limited to, the London Compliance manual and Compliance policies and procedures as issued from time to time; Financial Crime Prevention requirements, including, but not limited to, the prevention of Financial Crime and Fraud including reporting obligations to the Money Laundering Reporting Officer.
Maintain appropriate knowledge to ensure to be fully qualified to undertake the role. Complete all mandatory training as required to attain and maintain competence.
Skills & Knowledge Requirements
Sound knowledge of UK and EU regulatory rules and their practical application to a commercial business.
Sound knowledge of fixed income products (particularly Rates, Treasury activity and benchmarks) and in the relevant product areas described above.
Good understanding of MiFID II and the EU Benchmark Regulations.
An understanding of valuation adjustments.
Good understanding of the Compliance risks and ability to research and present advice on current regulatory topics.
Experience of trading floor environment coupled with first class oral and written communication skills to interact with front office personnel and management.
Any other relevant information