Chief Compliance Officer - Capital Markets

JOB SUMMARY
Pursuant to CFTC Rule 3.3, Capital Markets ("CM"), as a swap dealer, must appoint a Chief Compliance Officer.  The role of the CCO is to provide independent oversight of Capital Markets’s compliance with the Dodd Frank Act, as well as  CFTC and NFA rules and regulations, including opining on the adequacy and effectiveness of compliance processes and status of compliance through an annual compliance report, establishing procedures for remediation of non-compliance issues, providing training, administering policies and procedures, and following up with management on issues identified and the adequacy and timeliness of actions taken.  In addition, the CCO is responsible for interacting with auditors and regulators, including regulatory examinations.
 
SCOPE
The Compliance Department  serves as a regulatory advisory function to CM's Senior Officer, senior management, and the CCO of SMBC Americas Division and is responsible for overseeing the management of CM's compliance risk, and is represented by the Chief Compliance Officer as either a member or observer of various committees such as the IOCC Meeting, Global Risk Management Committee,  Bi-Weekly Management meetings, Monthly Compliance Meetings, and IT Risk Meetings.

CCO of CM has following dual reporting lines.

1) Functional Reporting Line: As CCO, the individual has a functional reporting line to the Head of CM Compliance.
2) Operational Reporting Line: As CCO, the individual has an operational reporting line to the CEO of CM.

The anticipated salary range for this role is between $275,000 and $325,000. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

• Responsible for the ongoing development, implementation and refinement of a comprehensive compliance program.
• Work with Compliance teams globally and as well as other legal entities in the Americas to help lead a coordinated effort throughout the organization.
• Coordinate compliance regulatory examinations and participate in the coordination of responses to these examinations.  
• Maintain policies and procedures to reasonably ensure compliance with applicable regulatory requirements.
• Communicate new regulatory requirements simply and efficiently to affected business and infrastructure to ensure compliance.
• Supervise compliance department staff in carrying out their functions.
• Continually assess the inherent risk of business units as well as the effectiveness of mitigating controls in order to minimize the residual risk of reputational damage, regulatory consequences and other operational risk through a testing and monitoring program.
• Design, implement and maintain Compliance systems to ensure consistency in achieving industry best practices and in minimizing regulatory risk.
• Provide thought leadership and subject matter expertise for compliance issues.
• In discharging responsibilities, do so in a way that is most consistent with CM’s operational and business effectiveness, including the provision of advice, the discharge of duties under the New Product Review process and participation in internal risk management functions.
• Provide regular training to staff and specialized training, as needed to address ad hoc regulatory issues.
• Create an annual compliance report to assess the effectiveness of regulatory compliance. 

• In-depth knowledge of the U.S. regulatory system in general and specifically knowledge of CFTC and NFA laws and regulations applicable to swap dealers. This knowledge is needed in order to service internal clients’ needs and to respond to regulatory demands. This includes the ability to devise win-win solutions for complex businesses against the evolving regulatory landscape.
• Ability to effectively supervise compliance staff.
• Knowledge of CM’s swap products and services, policies and procedures and business culture to reconcile regulatory needs with specific product and delivery channel needs.
• Knowledge of the markets in which CM operates in order to link our practices to those of the marketplace. This is necessary to align compliance requirements with business practices.
• Judgment in handling complex and highly confidential matters with unquestionable character, integrity and professionalism.
• Capability to drive consensus and, where appropriate, to take a firm position even in the absence of broad-based support.
• Analytical knowledge of complex products, issues and people and the mix of those – and the operational, financial, systemic, and risk management processes around such products and services.
• Excellent communication skills, leadership and relationship-building skills to manage regulators, Compliance Officers and their clients including the front office, infrastructure and risk management units. Including a proven ability to develop consensus in dynamic environments and to influence senior business leaders.
• Excellent project management skills in order to effectively manage several priority projects at the same time with a sense of urgency.
• A mastery of applicable CFTC and NFA laws and regulations; exceptional reasoning and analysis skills; attention to detail; strong oral and writing skills; resourcefulness, among other abilities.

Work Experience:

• 15 + years of specialized experience
• Experience as a senior Compliance Officer or  senior other regulatory official.

Education:

• Required:BA / BS
• Preferred:JD

Licenses / Certifications / Registrations:

• Business fluency in the following language(s):English