Company
RBC Capital MarketsLocation
UK-LondonRemuneration
£££ CompetitivePosition Type
PermanentEmployment type
Full timeUpdated
05-Nov-2013eFC Ref no
1267918
RBC is looking for an experienced
Compliance Monitoring Specialist to join the team. Compliance experience
within a custody environment is essential. The successful candidate
will rotate across the various compliance monitoring programs. Must also
be good at working to deadlines.
PURPOSE
To execute the Compliance Monitoring Program (“CMP”) of RBC Investor Services UK Branch (“RBC Investor Services”). This role is a key component of the RBC Investor Services Compliance strategy and will ensure that we can demonstrate our compliance with the requirements of the Financial Services Authority together with other relevant laws and regulations.
The successful candidate will support the Compliance Monitoring Manager in the day to day execution of the CMP and ensure that reviews are carried out within the relevant timelines laid out in the plan. The role will act as part of the overall 2nd line of defence control environment in place within the UK Branch. The role will also be responsible for interaction with the Audit and Risk functions to ensure a consistent and proactive approach to monitoring is achieved.
The role will require the successful candidate to understand the application of the FCA Handbook and in the context of a custodian business with significant UK based Market Products operations.
PRIMARY RESPONSIBILITIES
Conduct onsite inspection of the business units of UK Branch under the supervision of the Compliance Monitoring Manager, such inspections to be both planned and reactionary visits.
Development of the monitoring activity carried out by the UK Branch with a focus on completion of the yearly monitoring plan.
Contribute to the development of the monitoring plan by ensuring that new areas of the UK Branch business are included in the plan and by reviewing the risks posed by such business units on a continuous basis.
Tracking and monitoring completion of action plans agreed with the business units following inspection visits.
Ensure that Business Unit Certificate process is updated to take account of changes in laws and regulations and ensure that testing of business response is incorporated in the overall plan.
Ensure that GCN is updated to reflect monitoring activity
Monitor the external environment for changes in regulation which may impact either the plan or compliance obligations.
AUTHORITIES, IMPACT, RISK
The role is independent of the business and monitors business units in the UK Branch to ensure that they meet internal and external compliance obligations and where deficiencies arise that these are reported and tracked.
The Compliance Monitoring Specialist will engage all relevant employees throughout the business in the U.K. and globally, if applicable, in order to meet the requirements of this mandate.
The compliance Monitoring Specialist will ensure that any compliance failings are identified and raised to management in a timely manner
KEY RELATIONSHIPS – LOCAL
Reporting to the Compliance Monitoring Manager and Senior Manager, Compliance.
Liaise with Internal Audit and Risk Functions to ensure a consistent approach is taken to monitoring activity across each control function.
Building relationships with key stakeholders in the UK business units and in other RBC Investor Services locations to ensure execution of the CMP.
Liaison with U.K. business units and other RBC Investor Services locations to appraise them of the CMP and to provide timely and accurate post-monitoring feedback, evidenced by an action plan, if applicable.
Ensure timely reporting of activity to Compliance management.
WORKING CONDITIONS
Standard working hours
Minimal, if any, travel required.
COMPETENCIES
Required
Recent Compliance monitoring experience in the Custody platform is a must.
Experience of control testing within a global custody bank whether through current compliance role or through an operation role within a similar organization.
Ability to quickly understand the product set offered by a global custody bank, including areas such as FX, Securities Lending and Cash.
Inquisitive mind and not afraid to challenge business responses to ensure appropriate controls are in place and working effectively.
Experience of FCA Handbooks and their application to a global custody business.
Preferred
Professional Compliance qualification.
People Skills
Ability to quickly build relationships with the business units and to ensure that appropriate communication takes place with the business units in advance of monitoring activity commencing.
Superior report writing and presentation skills, ensuring that scope and findings of reviews are appropriately documented and communicated.
Absolute attention to detail and ability to effectively prioritise workloads and to ensure successful completion of the monitoring programme.
Ability to engage in a proactive manner with senior members of the Compliance function locally and globally.
Behavioural
Ability to deal with senior management in a profession manner, ability to objectively deliver findings to senior management and business units to ensure successful completion of monitoring program. Ability to maintain independence from the business units being reviewed.
PLANNING
Attention to detail and ability to manage multiple tasks within tight timeframes. .
RESULTS ORIENTATION
Committed to ensuring completion of tasks and ability to drive others within the team with their commitment and dedication to the task in hand.
WRITTEN/VERBAL COMMUNICATIONS
Superior written and verbal communication skills, excellent attention to detail and is able to write clearly and succinctly in a variety of communication settings and styles; can get messages across that have the desired effect.
To execute the Compliance Monitoring Program (“CMP”) of RBC Investor Services UK Branch (“RBC Investor Services”). This role is a key component of the RBC Investor Services Compliance strategy and will ensure that we can demonstrate our compliance with the requirements of the Financial Services Authority together with other relevant laws and regulations.
The successful candidate will support the Compliance Monitoring Manager in the day to day execution of the CMP and ensure that reviews are carried out within the relevant timelines laid out in the plan. The role will act as part of the overall 2nd line of defence control environment in place within the UK Branch. The role will also be responsible for interaction with the Audit and Risk functions to ensure a consistent and proactive approach to monitoring is achieved.
The role will require the successful candidate to understand the application of the FCA Handbook and in the context of a custodian business with significant UK based Market Products operations.
PRIMARY RESPONSIBILITIES
Conduct onsite inspection of the business units of UK Branch under the supervision of the Compliance Monitoring Manager, such inspections to be both planned and reactionary visits.
Development of the monitoring activity carried out by the UK Branch with a focus on completion of the yearly monitoring plan.
Contribute to the development of the monitoring plan by ensuring that new areas of the UK Branch business are included in the plan and by reviewing the risks posed by such business units on a continuous basis.
Tracking and monitoring completion of action plans agreed with the business units following inspection visits.
Ensure that Business Unit Certificate process is updated to take account of changes in laws and regulations and ensure that testing of business response is incorporated in the overall plan.
Ensure that GCN is updated to reflect monitoring activity
Monitor the external environment for changes in regulation which may impact either the plan or compliance obligations.
AUTHORITIES, IMPACT, RISK
The role is independent of the business and monitors business units in the UK Branch to ensure that they meet internal and external compliance obligations and where deficiencies arise that these are reported and tracked.
The Compliance Monitoring Specialist will engage all relevant employees throughout the business in the U.K. and globally, if applicable, in order to meet the requirements of this mandate.
The compliance Monitoring Specialist will ensure that any compliance failings are identified and raised to management in a timely manner
KEY RELATIONSHIPS – LOCAL
Reporting to the Compliance Monitoring Manager and Senior Manager, Compliance.
Liaise with Internal Audit and Risk Functions to ensure a consistent approach is taken to monitoring activity across each control function.
Building relationships with key stakeholders in the UK business units and in other RBC Investor Services locations to ensure execution of the CMP.
Liaison with U.K. business units and other RBC Investor Services locations to appraise them of the CMP and to provide timely and accurate post-monitoring feedback, evidenced by an action plan, if applicable.
Ensure timely reporting of activity to Compliance management.
WORKING CONDITIONS
Standard working hours
Minimal, if any, travel required.
COMPETENCIES
Required
Recent Compliance monitoring experience in the Custody platform is a must.
Experience of control testing within a global custody bank whether through current compliance role or through an operation role within a similar organization.
Ability to quickly understand the product set offered by a global custody bank, including areas such as FX, Securities Lending and Cash.
Inquisitive mind and not afraid to challenge business responses to ensure appropriate controls are in place and working effectively.
Experience of FCA Handbooks and their application to a global custody business.
Preferred
Professional Compliance qualification.
People Skills
Ability to quickly build relationships with the business units and to ensure that appropriate communication takes place with the business units in advance of monitoring activity commencing.
Superior report writing and presentation skills, ensuring that scope and findings of reviews are appropriately documented and communicated.
Absolute attention to detail and ability to effectively prioritise workloads and to ensure successful completion of the monitoring programme.
Ability to engage in a proactive manner with senior members of the Compliance function locally and globally.
Behavioural
Ability to deal with senior management in a profession manner, ability to objectively deliver findings to senior management and business units to ensure successful completion of monitoring program. Ability to maintain independence from the business units being reviewed.
PLANNING
Attention to detail and ability to manage multiple tasks within tight timeframes. .
RESULTS ORIENTATION
Committed to ensuring completion of tasks and ability to drive others within the team with their commitment and dedication to the task in hand.
WRITTEN/VERBAL COMMUNICATIONS
Superior written and verbal communication skills, excellent attention to detail and is able to write clearly and succinctly in a variety of communication settings and styles; can get messages across that have the desired effect.
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