Description of the Business Line or Department
Mission Statement of Compliance:
“To enhance and maintain a robust compliance framework, in partnership with all stakeholders, to execute the firm’s strategy in accordance with its risk appetite, regulatory expectations and industry best practices”.
In order to achieve its mission statement, Compliance activities are centred around five key objectives, in support of senior management, business lines and resource functions, where the business lines have first level accountability and responsibility, and where GBS Compliance’s responsibility is with respect to compliance, reputational and conduct risk matters. These five key objectives are as follows:
Providing advice and policy development
Facilitating knowledge and awareness
Undertaking monitoring and surveillance activities
Performing risk assessment, review and control activities
Managing the relations with regulators
CMS has a specific mandate within Compliance to perform the 3rd objective
Summary of the key purposes of the role
To actively and promptly undertake Compliance communication monitoring of key risk areas, reporting any concerns in line with set expectations
Perform investigations as directed by management, requiring collaboration with Trade Surveillance and Advisory Compliance colleagues.
Identify requirements and lead projects relating to expansion of surveillance coverage and development of strategic solutions
Identify and facilitate updates/amendments to core surveillance inputs
Summary of responsibilities
Based upon the applicants prior Markets/Compliance experience, undertake communication monitoring using the firm’s oral and written communication monitoring tools as directed by team management. Investigate and escalate any resulting cases to successful conclusion.
Support the collation and development of Management Information.
Lead the implementation and enhancement of surveillance approaches and /or strategic solutions to meet review requirements.
Maintain and monitor a database of remedial actions/recommendations arising from communication monitoring, to ensure timely and satisfactory resolution of issues identified.
Represent CMS in engagements with Advisory Compliance officers and/or the Control Room on monitoring related issues as appropriate
Assisting in regulatory and leading internal investigations as appropriate.
Satisfy Audit/ Inspection requirements as required.
Proactive and timely escalation of issues to management
Participation in departmental and team meetings, as required
Attendance at relevant industry and trade association seminars
Identify, analyse and communicate any impacts to surveillance activities as a result of change to regulation and/or market/company events
Level of Autonomy and Authority
The role involves autonomy on a day to day basis so to perform BAU role, with active liaison with the team management to manage priorities and as part of escalation management protocols. Whilst team management should be aware, role allows for elements of decision making in regard to surveillance priorities and approaches.