Regulatory Compliance Advisory Specialist

Job purpose

CLS's Compliance Department provides compliance oversight, advice and guidance to all departments. The Regulatory Compliance Advisory Department provides technical guidance, support and tailored feedback on regulatory issues to ensure that existing processes, systems and controls, and any changes to them, comply with regulatory obligations and CLS's own standards and principles

The role of the Regulatory Compliance Advisory Specialist is to support the Regulatory Compliance Advisory Department in its partnering with CLS departments ("business units") to meet their regulatory obligations. 

Essential Function / major duties and responsibilities of the role

 

Regulatory Requirements

         Understand key applicable regulatory requirements

         Keep abreast of regulatory developments and assist with the preparation of regulatory change reporting to keep management up-to-date on relevant legal and regulatory developments

         Support Compliance Leads and business units in analyzing and implementing new or changing regulatory requirements and standards

 

Advisory

         Support provision of advice to assigned business units on Regulatory Compliance matters and provide technical guidance, support and tailored feedback on regulatory issues

         Support provision of advice to assigned business units in the identification of Regulatory Compliance risks, assessing controls and reporting on effectiveness of controls to ensure compliance with applicable standards and internal policy requirements

         Support the assigned business units departments in conducting risk based reviews of existing and emerging regulatory requirements and provide advice on how to address issues and control gaps

         Support assigned business units to ensure that new business initiatives and amended processes comply with regulatory obligations

         Collaborate with assigned business units to develop the appropriate training materials designed to raise awareness of Regulatory Compliance risk and how it is mitigated

         Maintain strong working relationships with business unit managers in order to ensure the timely delivery of quality information and increase the likelihood of favorable conditions for compliance activities

         Responsible for fostering a culture of compliance within the organization in a manner consistent with CLS's company values

         Effectively support the influencing of business decisions and the identification and escalation of issues

 

         Support the Compliance Leads in the development of the compliance strategy for the assigned business units

         Contribute to the development of projects and programs to improve compliance and enhance the control environment

         Provide direct input to more junior professionals to improve their understanding of compliance, control and documentation of policies

         Support with the review and analysis of upstream regulatory change, including responding to consultations.

         Support with Compliance's risk and controls and risk assessments as part of the Operational Risk Management Framework

         Working with assigned business units to ensure Compliance Risk under the risk taxonomy is monitored appropriately.

         Effectively support business units with assessing their compliance risk and documenting this as part of the Compliance Risk Management Framework

          

Reporting and Tracking

         Support the effort to assess the effectiveness of current risk prevention and mitigation controls to ensure managers in the assigned business units are equipped with the education to identify and judge the severity of risks

         Management and maintenance of CLS's Compliance Standards Inventory

         Contribute to the establishment of key risks indicators (KRIs) and tracking and reporting methodologies as part of a standard system of measurement and reporting

         Contribute to the development of recommendations for corrective action and issue tracking to ensure resolution efforts proceed timely and effectively

         Contribute to the preparation of complex, time sensitive reporting and appropriately escalate issues to senior management

 

Experience / essential and desired for successful job performance

 

         Bachelor's degree or the equivalent combination of education and experience is required.  Legal or finance qualification an advantage

         5+ years of experience in a compliance/legal function

         Proven Compliance Advisory support experience

         Experience leading/contributing to the design and management compliance training programs

         Experience in analyzing and implementing regulatory reform measures

 

 

 

Knowledge, skills and abilities / competencies required for successful job performance

 

         Understanding of the need for and possession of the ability to uphold the highest standards of confidentiality

         Articulate and diplomatic, with strong negotiation and influencing skills with the ability to display a range of influencing styles and stakeholder management skills

         Excellent report writing and presentation skills

         Superior interpersonal skills

         Investigative and analytical thinking

         Ability to work independently to creatively assess and identify gaps and present solutions

         Ability to steer and influence a culture of compliance

         Project management skills an advantage

         Good knowledge of Microsoft Office packages, particularly Excel and Word

 

Expected full-time salary range between $100,000 - $150,000 + variable compensation + 401(k) match + benefits.*Note: Disclosure as required by NY Pay Transparency Law of the expected salary compensation range for this role