Supervisory Affairs Lead or Supervisory Affairs Legal Specialist
- New York, NY, USA
- Permanent, Full time
- CLS UK Intermediate Holdings Ltd.
- 02 Jan 19
The Supervisory Affairs function of CLS Group Compliance manages and oversights the relationship between CLS and two Federal Reserve contingencies, the Federal Reserve Bank of New York (FRBNY), which is CLS’s primary supervisory authority, and the Federal Reserve Board of Governors staff in Washington DC with respect to submission and other matters relating to the advance notice of proposed change (ANPC) provisions of Regulation HH. In carrying out its remit, the Supervisory Affairs function necessarily interacts and collaborates with all CLS business functions, as well as coordinates its regulatory interface activities with those of CLS Regulatory Affairs and Legal Divisions.
Job purpose This role will either be a Level 2 or 3 legal position in the Supervisory Affairs function of Compliance. • At Level 2, the position is a lead role regarding all facets of Supervisory Affairs-related responsibilities and tasks as described herein and acting as the point person and trusted advisor with respect to all Supervisory Affairs related items and inquiries. • At Level 3, the position is a specialist role regarding all facets of Supervisory Affairs-related responsibilities and tasks as described herein. • At either level, the position requires an ability to engage and collaborate with business lines and personnel across the company to support understanding and adherence to CLS’s regulatory framework. Essential Function / major duties and responsibilities of the job Strategic • Provide oversight and management of the interface with: (i) the FRBNY and BoE Supervisory teams regarding all ongoing supervisory activities; and (ii) the Fed Board Regulation HH team re: Regulation HH ANPC requirements, including: - supervisory-related examination and monitoring activity; responses/progress updates relating to findings letters; remedial actions, including tracking to closure; and reporting to internal governance committee and the CLS Board on remedial activities - “materiality” determinations; ANPC filings and related submissions - overall regulatory framework, including education/training as to CLS DFMU status, relevance and impact • Provide guidance and advice related to Supervisory Affairs, enhance (as needed) policies/procedures, support CLS’s growth program through Regulation HH ANPC activities and embedded participation in project working groups and support CLS’s strategy by engaging effectively in the supervisory regulatory environment • Support the CCO in developing and preparing document submissions to internal constituencies, such as Board/Committees and internal committees Operational • Develop and maintain relationships with business lines in order to oversight and manage various types of deliverables involving input from a number of stakeholders • Serve as a Supervisory Affairs resource and coordinate and oversight related regulatory activities and engagement • Manage and oversight supervisory activity; be proactive and trouble-shoot as needed • Act as point person and/or trusted advisor on items/topics within the Supervisory Affairs remit • Participate effectively in internal governance/ working groups for projects and initiatives, including active facilitation of the shaping/ drafting of required regulatory filings • Interface proactively and effectively with and provide support for supervisory regulators, particularly, the FRBNY and BoE supervisory teams and Fed Board staff in regard to ANPC-related matters • Be innovative, prioritize and manage multiple tasks and deadlines Leadership • Collaborate across the company to maintain and enhance supervisory interface • Strategize, influence and advise business lines in regard to Supervisory Affairs remit • Support and serve as a resource for CLS strategic initiatives • Foster a culture of Compliance; manifest and support the Compliance Brand Experience / essential and desired for successful job performance Level 2: • Juris Doctor from recognized US Law School • 8-10 years of experience in a law firm and/or in compliance/legal functions of a regulated financial services industry Level 3: • Juris Doctor from recognized US Law School • Minimum 3 years of experience in a law firm and/or in compliance/legal functions of a regulated financial services industry Qualifications / certifications • Juris Doctor from recognized US Law School. Knowledge, skills and abilities / competencies required for successful job performance • Well-developed legal-writing, research and analytical skills • Organized self-starter with superior communication skills and strong writing skills • Experience in and/or ability to work effectively with staff representing all disciplines within a company (e.g., Business Development, Operations, IT, Risk Management and Legal) • Experience directly engaging with and interacting/managing inquiries/examinations by regulators and auditors • Well-developed professional presentation skills; proficiency in standard PC programs (Word, Excel and PowerPoint) • Ability to work effectively with all levels in the organization • Ability to work constructively and flexibly in a small team environment, and to assist at the direction of management in variety of projects • Accurate, acute attention to detail and ability to deal with high volume of information and high execution mode of environment • Ability to work independently on routine matters; however, is expected to seek guidance from compliance management and accept supervision on all matters • Ability to deal tactfully with a wide variety of stakeholders, situations and ideas and present advisory, persuasive and authoritative recommendations • Professionalism, discretion, ability to maintain strict confidentiality • Strong relationship-building and interpersonal skills Success factors / ‘How’. Personal characteristics contributing to an individual’s ability to excel in the position • Able to work in a DFMU environment with extremely high standards and intense regulatory scrutiny • High ethical standards and a profound sense of urgency, integrity and confidentiality • Driven by own initiative, can work independently as well as collaboratively • Demonstrates appropriate awareness and skill on when and how to engage with stakeholders • Ability to build relationships, consensus, to influence both internal and external stakeholders • Loyal and results oriented team player • Ensures delivery and execution of results