Head of Fixed Income Compliance
We are looking to add to the Compliance Team.
1. Job Objective
To co-ordinate and assist the Firm as a whole in compliance with UK legislation including FCA rules and regulations and applicable EU and overseas legal and regulatory requirements with respect to Fixed Income Sales and Trading and Debt Capital Markets (with a particular focus on distressed assets, high yield bonds, claims trading, leveraged loans, bank debt and emerging markets).
2. Job Dimensions
The Compliance Department is a service-oriented department which provides guidance and advice to all business and support staff at the Firm, including sales, trading, research, investment banking, capital markets, financial, administration and infrastructure staff.
The Department provides general transactional guidance and advice to Business Units and other staff, implements compliance policies as required, and provides training. It also undertakes surveillance activities and utilises exception reports to monitor and, where appropriate, investigate Firm, customer and employee trading activity. The Department is also called upon to render advice on the rules and regulations of FCA, exchanges and other bodies; and Firm policies and procedures.
The individual will provide compliance related advice to the relevant business units on transactional queries, new products, marketing materials and rule and policy interpretation. The individual will also conduct monitoring and desk review activities and assist in enhancing and developing the monitoring and desk review programme, working closely with other professionals in the team.
While the role is London-based, responsibilities extend to other Stifel offices in Europe active in the fixed-income markets including Zurich and Madrid.
3. Principal Duties
(a) Advice and Interpretation
Provide oral and written general compliance and transactional advice to the Fixed Income Sales and Trading and Debt Capital Markets Divisions on compliance policies and procedures and relevant UK laws, rules and regulations. Participate in the New Product Approval process for relevant business areas, providing compliance advice and sign off on transactions. This will often be required on a fast-response basis given the nature of our business.
(b) Business Engagement
Engage with senior business management across the Fixed Income Sales and Trading and Debt Capital Markets Divisions providing them with regulatory advice, appropriate management information and compliance support with respect to the regulatory aspects of the business they operate.
(c) Implementation of New Policies and Procedures
Assist in the implementation of new policies and procedures or, as appropriate, the update of existing policies and procedures in response to, or in anticipation of, relevant rule changes and new legislation and industry guidance.
(d) Strategic Projects and Initiatives
Participate in strategic projects and initiatives with other legal and compliance professionals relating to the Fixed Income Sales and Trading and Capital Markets Divisions' business. , including participation on new product committees. Take lead role in ensuring efficient interaction between US and EU-based Compliance-related initiatives.
(e) Regulatory and Client Enquiries
Assist with enquiries from regulatory authorities and clients and liaise with legal and compliance professionals and other support areas of the Firm on these matters.
(f) Compliance Reviews
Management and execution of reviews of the Debt Capital Markets business to ensure compliance with relevant Market Abuse and Conduct of Business rules, including review / test check design, implementation and execution of testing and completion and resolution of action items.
(g) Training
Management of ongoing training programmes for the Fixed Income Sales and Trading and Debt Capital Markets Divisions on a broad array of Compliance and regulatory issues.
(h) Regulatory Audits
Assist in the co-ordination of regulatory audits and visits and follow-up on findings as necessary.
(i) Industry Association / Consultation Documents / Comment Letters
Participate in internal and external industry discussions and assist in the drafting of responses and initiatives from industry associations and regulatory bodies. Maintain a working dialogue with industry peers within and outside of relevant professional bodies in the market to ensure awareness of best practice.
4. Primary Contacts
The individual will be in close contact with all levels of business unity staff, as well as legal, operational, IT and other support staff within the Firm.
5. Supervision
The reporting line will be the Global Chief Compliance Officer based in the US.
Skills Required
• Experienced compliance professional with DCM, fixed income (credit sales and trading) and regulatory expertise.
• Ideally, the candidate will primarily have experience in claims trading, loan and bond trading, leveraged finance and capital raising through the debt capital markets (public and private markets). 15a6 and knowledge of relevant US securities laws useful.
• The role requires the ability to build relationships of trust with senior management from the business as well as other support and control functions.
• The candidate will need to be confident, with initiative, excellent judgement, strong analytical and communications skills and a team player.
• Numeric and computer skills essential.
Knowledge of FX/Options Useful
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