Advisory To provide the FX sales, trading, research, eFX activities and associated operations and middle office functions which support these activities, with on-going independent and critical assessment of the FLODs efforts to manage Compliance risks. This assessment is informed by the collective monitoring and testing efforts and a deep subject matter understanding of applicable regulatory obligations and the internal/ external events affecting State Street and its peers.
Key responsibilities: (1) monitor for changes in the external environment that could impact how Compliance Risk is assessed and managed; (2) inform and challenge the FLOD about relevant Compliance Risks to guide the prioritization of FLOD efforts to manage Compliance Risk; (3) influence FLOD decision making on activities that create Compliance Risk. (4) monitor, analyse and interpret regulatory changes (5) perform the Compliance Risk Assessment and (6) oversee the execution of required risk responses being executed by risk monitoring teams.
Act as SME for the provision of regulatory advice for the product suite of FX cash, fwds, NDF, trading, research and the marketing thereof across the UK, EU and into overseas jurisdictions.
Provide regulatory support to Compliance network overseas with regard to the impact of EU/UK legislation, in particular act as primary liaison for the Swap Dealer and ensuring US regulations is enabled in the relevant branch.
Where required manage State Street Global Markets' responses to RMPs and other Financial Conduct Authority/Prudential Regulation Authority (FCA/PRA) inquiries directed to Global Markets Compliance in co-ordination with other members and the head of the compliance department.
Escalate compliance issues to management and, where necessary, the FCA/PRA.
When called upon to act as a liaison with the FCA/PRA on compliance-related issues.
Identify compliance training needs and establish the necessary training.
Ensure that appropriate compliance-related management information is produced and reviewed at appropriate intervals.
Work closely with management to establish an appropriate compliance culture throughout the business units.
Participate in meetings and represent compliance.
Support a culture of effective challenge.
Complete ad hoc projects, as required.
Act as point of contact for Compliance/Regulatory queries.
Execute on Global Markets' M&S plan.
Maintain the highest standards of conduct and integrity and ensure compliance with accepted industry practice, company policies, statute and regulatory requirements.