FICC Compliance Officer, Senior Manager

Scotiabank•New York City, NY

21d•Hybrid

About The Position

The FICC Compliance Officer provides primary compliance coverage to the U.S. FICC businesses and helps them meet 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 a detailed understanding of BNS and SCUSA FICC businesses, including personnel, operations, and systems, to analyze and evaluate compliance risk. This is a hybrid role that requires frequent presence on the U.S. trading floor to support the compliance program for trading and sales businesses. The role operates in a fast-paced trading-floor environment. Travel is not generally required, though occasional visits to the Bank’s business continuity backup site in New Jersey may be necessary. The position reports to the Head of Markets Compliance and has no direct reports.

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 appropriately high-quality work, set goals, and manage priorities.
Detail-oriented, with 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 (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 through business forums and internal meetings.
Support and monitor Treasury auctions to ensure bidding practices comply with regulatory expectations and BNS NYA procedures, and assist with related issues.
Create and deliver online and in-person compliance training for FICC professionals and support personnel; coordinate consistent training with other Compliance officers and evaluate personnel in scope with the Training Group.
Develop, draft, amend, and maintain FICC compliance policies, procedures, and manuals; review relevant business and Compliance documents; and coordinate reviews of 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 compliance risk assessments with Internal Control, 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 related controls.
Participate in reviews of monitoring and surveillance routines, investigate alerts or issues concerning trades or communications, and escalate breaches.
Investigate and respond to regulatory inquiries and examinations involving FICC businesses, including obtaining requested data, analyzing potential compliance issues, and preparing written responses.
Conduct assigned monitoring and compliance processes according to written procedures and document completion.
Monitor emerging legislation, policy statements, trends, and industry best practices 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.
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, Volcker, 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.
Perform responsibilities effectively and efficiently in accordance with Scotiabank’s values and Code of Conduct.
Champion high performance and contribute to an inclusive work environment.