We are currently partnered with a top Canadian bank looking to expand their Compliance Monitoring & Testing team in NYC by bring on a VP. This bank is know for having a strong employee centric culture built on prioritizing internal promotion and strong work/life balance.
In this role, you'll work alongside the head of the group to execute the annual compliance testing and monitoring plan, lead testing engagements, preparing compliance reports, and supporting management on compliance related issues. When leading engagements, you're expected to lead junior compliance personnel and build strong relationships with business unit stakeholder and leaders.
Key Responsibilities:
Compliance Monitoring & Testing Framework:
- Develop, implement, and continuously enhance the compliance monitoring and testing framework for the Investment Banking, Broker-Dealer, and Corporate Banking businesses.
- Design and execute risk-based testing plans to assess the effectiveness of policies, procedures, and controls across relevant business lines.
- Establish regular reviews and testing procedures to identify gaps in regulatory adherence, escalating issues as necessary to senior management.
Regulatory Coverage & Oversight:
- Stay current on evolving regulatory requirements (e.g., SEC, FINRA, OCC, FRB, CFTC) applicable to the Investment Banking, Broker-Dealer, and Corporate Banking businesses.
- Collaborate with Legal and Regulatory Affairs teams to ensure timely updates to testing programs and control frameworks based on regulatory changes.
- Liaise with business units to ensure proper implementation of compliance initiatives and provide subject matter expertise on regulatory expectations.
Risk Assessment & Control Evaluation:
- Lead compliance risk assessments to identify areas of potential non-compliance and heightened regulatory risk across the business lines.
- Evaluate the effectiveness of existing controls and recommend enhancements where deficiencies are identified.
- Provide management with actionable recommendations and remediation strategies to address compliance risks.
Reporting & Communication:
- Prepare and present findings, analysis, and recommendations to senior leadership, compliance committees, and business stakeholders.
- Produce detailed reports that document the results of compliance testing, including any breaches or violations identified.
- Foster strong working relationships with other control functions, such as Internal Audit, Operational Risk, and Legal.
Team Leadership & Collaboration:
- Oversee junior team members responsible for executing monitoring and testing activities.
- Provide mentorship, guidance, and training to ensure the team develops and maintains a high level of expertise in compliance monitoring and testing.
- Partner with global compliance teams to share best practices, align on testing methodologies, and coordinate efforts on cross-border regulatory matters.
Regulatory Interaction & Examinations:
- Support the preparation for regulatory exams and inquiries related to compliance monitoring and testing.
- Respond to information requests from regulators and ensure prompt and accurate delivery of materials.
Key Qualifications:
- Education: Bachelor’s degree required (advanced degree preferred in Business, Law, Finance, or related field). JD Preferred but not required.
- Experience:7-10+ years of experience in Compliance, Internal Audit, or Risk Management, with a focus on monitoring and testing in Investment Banking, Broker-Dealer, and Corporate Banking environments.
- Extensive knowledge of U.S. regulatory requirements (e.g., SEC, FINRA, OCC) and international regulations, as applicable.
