FICC Compliance Officer, Senior Manager

Scotiabank•New York, NY

23h•$121,000 - $231,000•Hybrid

About The Position

The FICC Compliance Officer provides primary compliance coverage to the U.S. FICC businesses and assists them in meeting applicable regulatory and compliance obligations. The role also supports the Bank’s Compliance Risk Management Framework and related programs. It is a non-managerial position requiring subject-matter expertise in FICC market practices and the laws and regulatory requirements applicable to FICC trading and sales businesses. The officer applies detailed knowledge of BNS and SCUSA FICC businesses, including personnel, operations, and systems, to analyze and evaluate compliance risk. The position provides day-to-day compliance advice to FICC cash trading and sales teams; supports Treasury auctions; develops and maintains compliance policies, procedures, manuals, and training; assesses new business proposals and compliance risks; and monitors regulatory developments, controls, surveillance, and remediation. It also investigates regulatory inquiries and potential issues, communicates with business and Compliance stakeholders, and collaborates with other Compliance officers and functions. The role is hybrid, with frequent presence on the U.S. trading floor important to the effectiveness of the Compliance program. Occasional visits to the Bank’s business continuity backup site in New Jersey may be necessary; travel is not generally required.

Requirements

A minimum of 5–7 years of compliance experience, including advisory support to a U.S. fixed-income sales and trading operation.
Knowledge of Treasury best practices and regulations, Government Securities Dealer requirements, and SEC and FINRA rules and guidance for fixed-income cash and OTC derivatives trading, including markups, markdowns, best execution, and TRACE trade reporting.
Experience developing policies and procedures, providing compliance training, conducting compliance risk assessments, and responding to regulatory inquiries.
Strong analytical and investigative skills, with demonstrated ability to operate at a strategic level.
Ability to coordinate across management levels, jurisdictions, business lines, and support functions to drive results.
Ability to work with minimal direction, deliver work of appropriate quality, set goals, and manage priorities.
Detail-oriented, with the ability to coordinate competing deliverables and timelines.
Experience operating and coordinating programs across large matrixed organizations.
Experience interfacing with bank and securities regulators.
Strong organizational, oral and written communication, and interpersonal skills.
Minimum bachelor’s degree.
FINRA Principal qualification (Series 24), or ability to obtain it after hiring.

Nice To Haves

Postgraduate degree, such as a JD or MBA.

Responsibilities

Champion a customer-focused culture and assist U.S. sales and trading businesses in deepening client relationships by leveraging broader Bank relationships, systems, and knowledge.
Provide day-to-day compliance support for FICC cash trading and sales businesses, advising on applicable laws, rules, regulations, internal policies, and procedures.
Communicate relevant compliance issues, regulatory developments, and Compliance Department initiatives to FICC management and U.S. Compliance personnel, including through participation in business forums and internal meetings.
Support and monitor Treasury auctions to ensure bidding practices comply with regulatory expectations and BNS NYA procedures, and assist in addressing related issues.
Create and deliver online and in-person compliance training for FICC professionals and support personnel; coordinate consistency with other Compliance officers and, with the Training Group, evaluate personnel in scope for training.
Develop, draft, amend, and maintain FICC compliance policies, procedures, and manuals; comment on relevant business and Compliance documents during internal review and governance; and coordinate reviews of FICC supervisors’ written supervisory procedures with Internal Control.
Evaluate U.S. and global new business proposals under New Initiatives policies and document Compliance assessments in accordance with U.S. Compliance procedures.
Coordinate with Internal Control on compliance risk assessments, independently challenge assessments, and document Compliance rationale.
Evaluate new and proposed laws and regulations for the Regulatory Library, determine their applicability and impact on FICC businesses, and assess the impact of related controls.
Participate in reviewing monitoring and surveillance routines; investigate alerts or issues involving trades or communications and escalate breaches.
Investigate and respond to regulatory inquiries and examinations involving FICC businesses by obtaining requested information, analyzing potential compliance issues, and preparing written responses.
Conduct assigned monitoring and compliance processes in accordance with written procedures and document completion of tasks.
Monitor emerging legislation, policy statements, trends, and industry best practices relevant to FICC through publications, industry associations, regulators, counsel, and auditors.
Identify issues and participate in remediation and regulatory change initiatives; update stakeholders and represent U.S. Compliance in global and cross-divisional projects supporting regulatory requirements.
Identify and escalate compliance issues, including to SCUSA and NYA governance committees, and ensure assigned Internal Audit and Compliance Testing findings are addressed for timely closure.
Collaborate with Swap Dealer, Volker, and Bank Holding Compliance officers and provide expertise and assistance to U.S. and global Compliance personnel.
Apply the Bank’s risk appetite and risk culture to day-to-day activities and decisions.
Carry out Compliance Officer responsibilities effectively and efficiently in accordance with Scotiabank’s values and Code of Conduct.
Champion high performance and contribute to an inclusive work environment.