Job Description
Responsible for implementation and maintenance of the Legislative Compliance Management Program (LCM) coordinating activities as well as regular reporting across Functions and Technology & Operations (T&O).
Lead and provide direction and advice on regulatory compliance matters that have impact to Functions and T&O to ensure compliance with existing applicable laws, rules regulations, regulatory expectations, voluntary Codes, etc., including regulatory and audit issues management.
Leads the development of the Operational Risk Reviews for T&O and Functions.
Primary point of contact for Regulators engaging the Functions and T&O on regulatory compliance issues, exams and enquiries.
Responsible for Self-Assessment of Compliance's practices against Regulations for Global Compliance governance.
Develops and leads the Quality Assessment Review process for Global Compliance.
Develops centralized methodology for common processes, including management and extending the use of the Global Compliance Risk Rating process.
Primary Responsibilities:
Functions and T&O Compliance Program - 40%:
Responsible for implementation and maintenance of the LCM Program coordinating LCM activities as well as regular reporting activities across Functions and T&O Compliance.
Ensure Functions and T&O is equipped to meet the regulatory requirements of its governing legislation and other key laws and regulations in all jurisdictions in which it operates, working in conjunction with our wider compliance team.
Responsible for the periodic review of the LCM Database, covering regulations and identified controls to ensure they are current.
Responsible for overseeing the monitoring and testing of key controls, working in conjunction with business line Compliance teams and other functions (e.g. IAS, and GRM) to ensure complete and efficient design and execution.
Responsible for Self-Assessment of Compliance's practices against Regulations for Compliance groups - as part of the LCM.
Responsible for reviewing and ensuring all Functions and T&O regulatory gaps and/or weaknesses are appropriately disclosed to executive management.
Acts as first line of defence in directing the development of the Operational Risk reviews in conjunction with T&O and Functions.
Oversees the resolultion of deficiencies identified through monitoring and testing and ensure information is included as part of the Scorecard Process for Functions and T&O.
Promotes and maintain positive relationships and is primary point of contact for Regulators for Functions and T&O regulatory compliance issues, exams and enquiries.
Tracks Functions and T&O compliance issues ensuring they are completed in a timely manner.
Is at the forefront of regulatory developments to help Functions and T&O and Compliance Relationship Managers better adapt to regulatory compliance changes.
o Leads review of proposed and / or new legislation and makes recommendations to formulate RBC positions and / or industry positions.
o Proactively identify and assess emerging regulatory and compliance risks.
o Represent RBC's interests at relevant industry associations to ensure these are suitably represented to policy makers and regulators.
o Establish and lead the direction in relation to dealing with the CBA, Big Six and regulators on regulatory compliance matters, working closely with Regulatory and Government Affairs and other Functional Groups (e.g. Law and Finance).
Global Compliance Methodology - 30%:
Leads implementation of a coordinated, risk-based approach to development of Compliance Methodologies. Ensuring key approaches and processes are aligned across all groups.
Drives the Risk Rating approach for Global Compliance and expands the approaches for its use.
Provides Strategic insight, direction and support to business Compliance groups.
Works with the head of Automated Compliance Solutions to add input on centralized tools to ensure they are efficiently designed and are effective.
Researches and integrates, where appropriate, best practices and marks interanlly and from external Compliance organizations.
Designs the enhancement of the Compliance website to add methodologies common to all groups.
Drives cost efficiencies by implementing efficient processes and systems.
Compliance Management - 20%:
Acts as main point of contact for Functions and T&O SMTs, communicating broad platform strategies to impacted Product Compliance Relationship Managers.
Provides specific advice on regulatory compliance matters affecting assigned units as they arise, ensure adequate written guidance exists, and provide (or assist Functions and T&O management in providing) appropriate training and education.
Assists with other intiatives supporting the Enterprise Compliance Team.
Managerial Excellence - 10%:
Ensures employees understand RBC's vision and values, as well as support and reinforce targeted behaviours that contribute to achieving RBC's goals.
Manages financial and human resource assets through effective budget management and prioritization of resource allocations and optimization to meet RBC objectives.
Establishes team goals and ensure supporting individual goals are documented, driving performance management, supporting career development and rewarding strong performance.
Accepts and successfully executes change while supporting employees through the process, and keeping them focused on business priorities.
Rewards strong individual and team performance. Pro-actively manages poor performance.
Leverages the value in unit, department and enterprise-wide teams to devlelop better solutions and achieve cross enterprise mind set.
Maintains constructive working relationships with all Global Compliance staff.
Job Requirements:
Required:
Minimum 10 years management experience.
Minimum 10 years of compliance (or related) experience (preferred).
Strong communication skills.
Understanding of regulatory compliance and risk management principles as they apply to a banking environment.
Conecptual Thinking required.
Exceptional Leadership skills.
Preferred:
Post graduate degree (CA, MBA, Law)
Minimum 15 years senior industry experience.
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Email: jobs@aarenconsultants.in
