Broker Dealer Regulatory Governance Advisory Compliance Officer

Role Description

The SMBC Compliance Advisory Function resides within Compliance Department Americas Division (“CPAD”) and provides compliance advice, guidance, and credible challenge to SMBC’s businesses and support functions in the Americas Division. The group assists in supporting SMBC stakeholders across the First and Second Lines of Defense regarding a broad range of compliance and regulatory issues and works hand-in-hand with business/function partners to advise on compliance matters, frequently in real time as business is conducted and transactions are executed.

Role Objectives

The Broker Dealer Regulatory Governance Advisory Team within the CPAD Advisory Function provides centralized compliance support across the Advisory Function with respect to broker-dealer-applicable regulatory engagements, support function coordination, governance and reporting. 

Regulatory Engagements:  The Regulatory Governance Team supports SMBC’s Broker-dealer entity in managing regulatory exams and responding to regulatory inquiries as they arise. Inquiries can take a variety of forms, including but not limited to, informal information requests from regulators received verbally or via email and formal requests received via regulatory portals or through the Firm’s legal department. Providing timely, complete, accurate, and helpful responses to any inquiry is imperative. 

Support Function Coordination: The Regulatory Governance team serves as a central point of contact for facilitating efficient coordination between CPAD Advisory and other internal support functions, including CPAD Central Functions, Strategic Planning Group (SPG), Office of the CEO (CEOAD), Tokyo Home Office, Finance & Operations, Risk, HR, Internal Audit, and Technology. The Regulatory Governance team collaborates with internal support functions to provide and receive status updates, find efficiencies, respond to ad-hoc requests and support the implementation of compliance program enhancements with respect to each of the below-listed Compliance Program areas:

• Policies and Procedures Management
• Compliance Training
• Issues Management
• Monitoring & Testing
• Compliance Risk Assessment
• Communications and Transaction Surveillance
• Employee Compliance (i.e., Registrations, Outside Business Activities and Personal Account Dealing)
• Financial Crimes Compliance
• Regulatory Change Management
• Compliance Alerts and other Communications

Governance and Reporting:  The Regulatory Governance Team is responsible for producing management reporting for senior business leadership, CPAD Senior Management, Risk Management, and other governance forums, including relevant metrics).  In addition, the Regulatory Governance team is responsible for production of Annual Compliance Reports and related senior officer certifications.

Responsibilities:

• Provide compliance advice and credible challenge to businesses and support functions regarding a broad range of compliance and regulatory issues. 
• Escalate potential conduct incidents, events, and material non-compliance matters.
• Assist the Regulatory Governance Team Lead in coordinating the intake and responses to regulatory inquiries and managing regulatory exams. 
• Support the preparation and submission of various regulatory applications and filings. 
• Support remediation efforts stemming from regulatory enforcement actions.
• Assist in process to determine whether to self-report material non-compliance issues to applicable regulators.
• Support the production of management reporting for business leadership, CPAD, Risk and other governance forums.
• Support the preparation of materials for governance committees and working groups within the Firm and industry.
• Coordinate with Compliance and support function staff across the AD to provide subject expertise and to find efficiencies. 
• Coordinate compliance policy & procedure reviews, updates and approvals and facilitate Group Company adoption of AD Compliance Policies.
• Assist in design and delivery of compliance training materials.
• Track and support the remediation of Advisory-owned Issues and Corrective Action plans.
• Assist in drafting and disseminating Compliance alerts, reminders and other communications.
• Support production of Annual Compliance Report and related senior officer certifications
• Participate in evaluation and implementation of Compliance technology.
• Help to identify gaps or areas that can be improved or made more efficient, triggered by:
  
  • Changes in laws, rules and regulations;
  • Changes in AD- or SMBC-level policies;
  • New business initiatives
  • Regulatory findings or recommendations;
  • Audit findings or recommendations;
  • M&T findings or recommendations; and/or
  • Observations by Compliance officer or business staff member 
  • Coordinate with relevant stakeholders to support the implementation of enhancements to the Firm’s overall compliance program 
• Assess applicability, coordinate impact assessment and support implementation of changes in response to new regulations and regulatory developments through the Regulatory Change Management process.
• Provide regulatory advice and oversight of compliance with expertise in US securities, laws and regulations. 
• Proactively engage with Compliance, Legal and other control function colleagues to enhance the overall Compliance program. 
• Support the coordination and drafting of management related reports on a timely basis.
• Escalate regulatory concerns and other significant matters to their manager.
• Communicate policies, procedures and new regulatory requirements simply and efficiently to affected business and infrastructure units in order to minimize bureaucracy and process burden.
• Assist in the design, implementation and maintenance of Compliance policies and procedures to ensure consistency in achieving industry best practices and in minimizing regulatory risk.
• Seek operational efficiencies and automation of processes to reduce risk of manual processes.

Qualifications and Skills

• Knowledge in US securities laws, rules and regulations, including SEC and FINRA requirements.
• Ability to communicate this knowledge and applicability both verbally and in writing
• Ability to manage multiple assignments and build consensus among stakeholders’ communication skills among other attributes. 
• Must be well organized with prioritization and project management skills on a global scale.
• Ability to translate technical subject matter and convey it in easily understandable components for the clients. 
• Attention to detail and discipline to follow up on issues until resolved.
• Ability to translate technical subject matter and convey it in easily understandable components for the clients.
• Ability to manage multiple assignments and build consensus among stakeholders communication skills among other attributes.
• Attention to detail and discipline to follow up on issues until resolved.
• Must be well organized with project management skills.
• Regulatory compliance experience at a broker dealer and or swap dealer preferred.  BA/BS required. JD Preferred.  Series 7, 24, 79 a plus.