Regulatory Relations Lead

Job purpose

This role will either be a Level 2 legal position in the Regulatory Relations function of Compliance.

·         At Level 2, the position is a lead role regarding all facets of Regulatory Relations-related responsibilities and tasks as described herein and acting as the point person and trusted advisor with respect to all Regulatory Relations related items and inquiries

·         At either level, the position requires an ability (i) to counsel business lines with respect to regulatory requirements; (ii) to collaborate with business lines and personnel with respect to document submissions and processes; (iii) to draft critical regulatory submissions (requires superior writing skills and the ability to own and manage end-to-end submission content and process)  

Essential Function / major duties and responsibilities of the job

Strategic

·         Provide oversight and management of the interface with: (i) the FRBNY Supervisory teams regarding all ongoing supervisory activities; (ii) the Fed Board Regulation HH team re: Regulation HH ANPC requirements and Regulation Y filings; and (iii) the Oversight Committee, including:

- supervisory-related examination and monitoring activity; responses/progress updates relating to findings letters; remedial actions, including tracking to closure; and reporting to internal governance committee and the CLS Board on remedial activities 

- “materiality” determinations; ANPC filings and related submissions; and Regulation Y filings

- regulatory engagement, including with the Federal Reserve PMI Policy team / Oversight Committee, as needed

- overall regulatory framework, including education/training as to CLS DFMU status, relevance and impact

·         Provide guidance and advice related to Regulatory Relations, enhance (as needed) policies/procedures, support CLS’s growth program through Regulation HH ANPC and Regulation Y activities and embedded participation in project working groups and support CLS’s strategy by engaging effectively in the supervisory regulatory environment

·         Support the CCO and Head of Regulatory Relations in developing and preparing document submissions to internal constituencies, such as Board/Committees and internal committees 

Operational

·         Develop and maintain relationships with business lines in order to provide oversight and manage various types of deliverables involving input from a number of stakeholders  

·         Serve as a Regulatory Relations resource and coordinate and oversight related regulatory activities and engagement

·         Manage and oversee supervisory activity; be proactive and trouble-shoot as needed

·         Act as point person and/or trusted advisor on items/topics within the Regulatory Relations remit

·         Participate effectively in internal governance/ working groups for projects and initiatives, including active facilitation of the shaping/ drafting of required regulatory filings and articulating regulatory requirements

·         Interface proactively and effectively with the FRBNY supervisory teams and Fed Board staff for ANPC and Regulation Y-related matters and Federal Reserve PMI Policy Team / Oversight Committee

·         Be innovative, prioritize and manage multiple tasks and deadlines

Leadership

·         Collaborate across the company to maintain and enhance supervisory interface

·         Strategize, influence and advise business lines with respect to Regulatory Relations remit

·         Support and serve as a resource for CLS strategic initiatives

·         Foster a culture of Compliance; manifest and support the Compliance Brand

·         Mentorship of the L3s

Experience / essential and desired for successful job performance

Level 2:

·         Juris Doctor from recognized US Law School

·         8-10 years of experience in a law firm and/or in compliance/legal functions of a regulated financial services industry

Qualifications / certifications

·         Juris Doctor from recognized US Law School.

Knowledge, skills and abilities / competencies required for successful job performance

·         Well-developed, excellent legal-writing, research and analytical skills

·         Organized self-starter with superior communication skills, with an ability to multi-task with a ‘can-do’ attitude and minimal supervision

·         Experience in and/or ability to work effectively with staff representing all disciplines within a company (e.g., Business Development, Operations, IT, Risk Management and Legal)

·         Experience directly engaging with and interacting/managing inquiries/examinations by regulators and auditors

·         Well-developed professional presentation skills; proficiency in standard PC programs (Word, Excel and PowerPoint)

·         Ability to work effectively with all levels in the organization

·         Ability to work constructively and flexibly in a small team environment, and to assist at the direction of management in variety of projects

·         Accurate, acute attention to detail and ability to deal with high volume of information and high execution mode of environment

·         Ability to work independently on routine matters; however, is expected to seek guidance from compliance management and accept supervision on all matters

·         Ability to deal tactfully with a wide variety of stakeholders, situations and ideas and present advisory, persuasive and authoritative recommendations

·         Professionalism, discretion, ability to maintain strict confidentiality

·         Strong relationship-building and interpersonal skills 

Success factors / ‘How’. Personal characteristics contributing to an individual’s ability to excel in the position

·         Able to work in a DFMU environment with extremely high standards and intense regulatory scrutiny

·         High ethical standards and a profound sense of urgency, integrity and confidentiality

·         Driven by own initiative, can work independently as well as collaboratively

·         Demonstrates appropriate awareness and skill on when and how to engage with stakeholders

·         Ability to build relationships, consensus, to influence both internal and external stakeholders

·         Loyal and results oriented team player

·         Ensures delivery and execution of results