VP Compliance Advisory Electronic Trading
The candidate should have experience and a strong working knowledge of US equity markets and rules and regulations relating to electronic trading including but not limited to the Market Access Rule, Trade Reporting rules, Reg ATS, Reg NMS and Reg SHO.
Responsibilities will involve all aspects of compliance support, including advising and providing guidance to the Electronic Trading Platform of a sophisticated full service broker/dealer oriented toward Institutional domestic and international clients. Additional responsibilities will include a role coordinating with foreign affiliates on cross-border electronic and algorithmic trading initiatives and activities.
In addition, the candidate will:
- Lead the Compliance Advisory program to assess the regulatory/compliance controls of the Firm’s Electronic Trading Platform which includes Direct Market Access, High Frequency Trading, an Alternative Trading System ( ATS) and Internalization Crossing Engines. This would include providing clear and understandable advice and guidance to interested parties, and drafting and delivering Compliance training on these topics.
- Partner with Trading and IT to further develop and enhance the governance structure of the Electronic Trading Platform including but not limited to protocols for system development and testing ; and interacting? with IT, Trading Counterparts and Market Centers to address connectivity, order routing and other system related requests or issues.
- Review and comment on Business Requirement Documents and system specifications and test results for adequacy of risk and compliance controls.
- Analyze proposed and new rules in addition to market and internal developments provide advice and guidance, as may be required. Additionally, play an advocacy role representing the Firm in industry efforts (e.g., SIFMA, FIF, etc.) as they pertain to electronic trading and related developments.
- Develop and enhance existing compliance policies and procedures and coordinate with global colleagues in developing global standards for electronic trading.
- Assist in the preparation of Compliance reports for Compliance Management, Senior Management, Executive Committees, and Risk Committees etc. as required.
Responsibilities may include contributing to the enhancement of the Firm’s execution quality program including the review of the Firm’s SEC Rule 605 and 606 statistics and providing guidance on the Firm’s surveillance program for electronic trading systems and trade reporting.
Knowledge of the rules and regulations governing cross-border dealings with Canada and the Canadian regulatory structure is a strong plus.
Knowledge of FINRA Rules related to OATS and TRF Reporting is a plus.
Additional Responsibilities
Supporting Compliance initiatives including writing policies and procedures, assisting in the research of and responding to regulatory inquiries and examinations, preparing and conducting compliance training sessions for business personnel;
Advising business persons on regulatory and compliance requirements pertaining to new business initiatives with an ability to develop solutions that meet the requirements;
Identifying regulatory trends and developments, advising business staff as to how this may impact their current activities and working with supervisors to implement any required changes to current policy / practice and supervision;
Identify, explain and monitor compliance issues and related remediation efforts to ensure timely resolution and implementation of effective controls;
Advising management on significant compliance matters and issues;
Interacting with regulatory agencies and exchanges; and
Participating in internal investigations and coordinating with other Control functions in internal and external audits and inspections.
Position Requirements
Bachelor’s Degree required advanced degree (JD or MBA) and or proven business acumen;
Minimum of 5 years relevant compliance experience, preferably at a major national or global securities firm or regulator;
Ability to effectively collaborate with multiple stakeholders including legal, internal audit, risk management and other internal business partners;
Demonstrated ability to interact effectively with all levels of management;
Excellent verbal, written, analytical and interpersonal communication skills;
Intuitive, energetic, and self motivated;
Ability to make, support and defend difficult and complex regulatory/compliance decisions in a fast-paced and high pressured environment; and
High standards of integrity and ethical judgment.
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