Job Summary
Job Description
What is the Opportunity?
Responsible for management of strategy and implementation of all regulatory change across IMBD entities, ensuring consistency in approach across areas including business engagement and requirements documentation, RCM application and risk assessments, project management, new policies/procedures, and development both 1st and 2nd LOD controls, such as WSPs, surveillance reviews and monitoring controls.
Additionally responsible for centralized management of IMBD Regulatory Compliance Management (“RCM”) framework including coordination across IMBD segments in areas including Issues Management, Monitoring, Testing and Quality Assurance Reviews, adherence to CUSO/Enterprise Standards, Training, and acting as primary point of contact for IMBD in CUSO and Enterprise working groups.
What will you do?
- Act as primary IMBD Compliance point of contact for management of regulatory change implementation across IMBD segments (Capital Markets, Wealth Management, Global Asset Management), which includes, but is not limited to:
- Conducting scoping exercises across IMBD securities regulators (e.g., SEC, FINRA, CFTC, NASAA) to determine impact to new and changing regulations across IMBD segments, this includes coordination with Compliance Practices Group and Enterprise Compliance teams, as well as review of alerts from CUBE Regulatory Intelligence system.
- Responsible for setting consistent regulatory strategy across IMBD entities for regulatory change implementation.
- Engaging Segment Compliance, business stakeholders, functional partners, and Law Group to complete initial impact analysis processes across business segments for all rule changes impacting IMBD segments.
- Coordinating with Segment Compliance teams and stakeholders from impacted business lines and functions to provide consistent guidance on business requirements.
- Coordinating with and advise global Capital Markets, Wealth Management and GAM entities on US rule changes impacting their segments.
- Coordinating with Segment Compliance Advisory, Law Group, and business management/supervisory stakeholders to develop new policies, procedures and training required to adhere to rule changes.
- Managing the RCM framework process associated with each new rule, including tagging the regulatory requirement to appropriate business lines and regulatory themes, aligning each theme to 1LOD and 2LOD controls, and coordinating with Segment Compliance teams to assign risk ratings and conduct risk assessments.
- Providing regular reporting on the status of rule implementation processes and escalating concerns over potential slippage to senior Compliance and Business stakeholders.
- Act as primary IMBD Compliance point of conduct for centralized management of RCM processes, including, but not limited to:
- Coordinating annual and ongoing IMBD RCM reviews of Baseline Inherent Risk Ratings, Risk Assessments, and High-Level Planning (“HLP”) across each IMBD business segment.
- Acting as primary point of contact for CUSO and Enterprise teams responsible for engaging segments on changes to Enterprise and CUSO Standards.
- Participating in ongoing CUSO and Enterprise working groups to represent IMBD’s interests in implementing changes to Standards and Processes.
- Developing and tracking KRIs pertaining to Issues Management, Policy Updates, Overdue Training, Monitoring, QAR findings, Customer Complaints and other RCM activities handled by Segment Compliance teams.
- Coordinating with CUSO and Enterprise Teams on annual Training Needs Analysis for each IMBD segment.
- Coordinating with Compliance Testing Teams and Segment Compliance teams on development of annual testing plan for each IMBD segment.
- Coordinating with QAR teams on review of IMBD segments.
- Act as escalation point for addressing questions, issues or inquiries related to Regulatory Change Implementation or RCM Practices;
- Participate in global initiatives as Compliance subject matter expert on US regulatory change and RCM processes.
What do you need to succeed?
- Minimum 7 years work experience
- Bachelor’s degree required
- Strong subject matter knowledge in U.S. securities regulation
- Extensive knowledge of compliance and risk issues impacting U.S.-registered broker-dealers, including knowledge of requirements associated with regulatory change processes.
- Familiarity with Capital Markets and/or Wealth Management products, strategies, and activities at U.S.-registered broker-dealer.
- Experience managing multiple workstreams at any given time.
- Ability to work independently while also being able to work effectively in a team environment
- Ability to work under short deadlines and make quick and reasoned decisions
- Strong technical skills to enhance efficiency and tracking of IMBD processes
- Master’s or Law degree preferred
What’s in it for you?
We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.
- A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable
- Leaders who support your development through coaching and managing opportunities
- Ability to make a difference and lasting impact
- Work in a dynamic, collaborative, progressive, and high-performing team
- Opportunities to do challenging work
- Opportunities to build close relationships with clients
The good-faith expected salary range for the above position is $160,000 - $250,000 (New Jersey) depending on factors including but not limited to the candidate’s experience, skills, registration status; market conditions; and business needs. This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan.
RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:
- Drives RBC’s high performance culture
- Enables collective achievement of our strategic goals
- Generates sustainable shareholder returns and above market shareholder value
– Hybrid
– POST
Job Skills
Audits Compliance, Critical Thinking, Data Gathering Analysis, Decision Making, Financial Regulation, Industry Knowledge, Interpersonal Relationship Management, Product Services, Regulatory Compliance, Risk Management, Strategic Thinking
Additional Job Details
Address:
GOLDMAN SACHS TOWER, 30 HUDSON STREET:JERSEY CITY
City:
Jersey City
Country:
United States of America
Work hours/week:
40
Employment Type:
Full time
Platform:
CHIEF LEGAL & ADMIN OFFICE GRP
Job Type:
Regular
Pay Type:
Salaried
Posted Date:
2024-11-22
Application Deadline:
2024-12-31
Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above
Inclusion and Equal Opportunity Employment
At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.
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