EMEA Custody Compliance Officer
The EMEA Custody Compliance Officer (“EMEA CCO”) works within the Compliance Assurance Program (“CAP”) framework and reports to the EMEA Head of Compliance Assurance (“HECA”). The EMEA CCO is responsible for the creation and delivery of a regional custody compliance assurance program.
The role of the EMEA CCO is to:
- work closely with the local custody Subject Matter Experts (“SMEs”) who are responsible for the creation and delivery of a custody compliance program for their jurisdiction.
- ensure common standards and processes are applied where appropriate by the local custody Subject Matter Experts (“SMEs”) in each jurisdiction;
- co-ordinate with HECA and local custody SMEs the delivery of the EMEA Custody CAP and agree with relevant stakeholders revised prioritisation of work and allocation of resources.
- co-ordinate and review relevant approvals and reporting of the results of the EMEA Custody CAP (including weaknesses or identified breaches) to senior management, boards and relevant committees; and
- outline the EMEA Custody CAP to regulators and clients;
The EMEA CCO also acts as the local custody SME for the UK. In that role the EMEA CCO provides advisory and assurance support to the UK CF10 and UK CF10a in relation to the FCA’s Client Asset rules (”CASS”) and works alongside the UK CASS Custody team and other relevant business and risk partners to ensure Client Asset controls are embedded within the business.
The role therefore involves dealing at the highest level with NT management, regulators and clients.
You will be required to deliver a proactive “consultancy” style service to EMEA local compliance officers and Operations partners in the custody business. The role may include any of the aspects of the day to day responsibilities listed below.
DAY TO DAY Responsibilities
- Advisory : Acting as Trusted Adviser
- Timely delivery of briefing note analyses on regulatory developments or existing rules that are clear and relevant to the business
- Demonstration of challenge to and guidance on custody rule interpretation at governance and other meetings or one to one
- Produce/assist with the identification and assessment of custody rule related risks
- Assist with the production/challenge of the contents of the CASS Manual (including the resolution pack section) to meet regulatory requirements
- Monitoring: Refining methodology to demonstrate CASS compliance
- Using cross jurisdictional Compliance Risk Assessment information co-ordinate the creation and delivery of an EMEA Custody assurance program
- Produce clear examples of areas of suggestion for ‘deep dive’ review and Custody KRI analyses to drive assurance activities
- Training : Embedding custody rule awareness within the business
- Develop a focussed and tailored training pack to target audience covering CASS and where applicable other jurisdictional requirements.
- Deliver relevant training as and when needed to target audience
- Regulator relationship: Reinforce NT’s custody assurance program framework with relevant regulators including the FCA and FRB.
- Act as lead coordinator on any UK CASS reviews and provide assistance to other EMEA offices in relation to custody related reviews
- Active participation in key CASS meetings with the FCA to position NT’s compliance framework
- Network: Reflecting industry views to the custody assurance program
- Maintain an on-going network of compliance contacts in peer custody firms
- Share feedback from compliance peer group with the core CASS team
- Clear examples of taking discussion points to compliance peer group to gain industry vie
SKIILS/EXPERIENCE
- Proven CASS compliance experience within a Financial Services organisation
- Wider knowledge of the FCA Handbook/accounting background including the scope of regulatory permissions, audit/accounting experience to understand balance sheet accounting (useful but not mandatory)
- Knowledge of custody regimes in other EMEA jurisdictions beneficial
- Highly motivated individual with a proven record of problem solving and delivering effective solutions
- Ability to make and communicate decisions in a clear concise and effective manner
- Desire to stay ahead of regulatory developments
- Strong numeric, and excellent written/oral communication skills
- Strong time management skills, the ability to balance on-going job requirements with ad-hoc projects, and a flexible approach to adapting to a fast-changing business environment
- Collaborative and consensual approach to work
- Degree preferred
CORE COMPETENCIES
- Communication and Influencing
- Judgement issue Resolution
- Develop People and Capability
- Planning and Organising
- Continuous Improvement
- Teamwork and Collaboration
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