FICC Compliance Officer, Senior Manager

Requisition ID: 276690 | Department: US Markets Compliance | Location: New York, NY

About the role

The FICC Compliance Officer is responsible for providing primary compliance coverage to the U.S. FICC businesses and assisting the businesses in meeting applicable regulatory and compliance obligations. The role also provides support for the Bank's Compliance Risk Management Framework and its related programs.

Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank's strong U.S. presence provides clients an important bridge to this key global market for trade and investment flows across the Americas and the world. GBM provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of clients, including debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious metals.

Responsibilities

• Champion a customer-focused culture and assist the US 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 by advising on the application of laws, rules, and regulations, as well as internal policies and procedures
• Communicate with FICC management and US Compliance personnel on relevant compliance issues, the regulatory environment, and Compliance Department initiatives by actively participating in relevant business forums and internal meetings
• Provide support to and monitor Treasury auctions to ensure bidding practices are in line with regulatory expectations and BNS NYA procedures; assist in addressing issues relating to Treasury auctions
• Create and provide online and in-person compliance training for FICC professionals and support personnel; coordinate with other Compliance officers to ensure training is consistent across businesses
• In coordination with the Training Group, evaluate personnel in scope for training
• Develop, draft, amend and maintain FICC-related compliance policies, procedures and manuals outlining firm requirements, regulations, and best practices
• Provide comments to relevant business and compliance policies and procedures as part of the internal review and governance process
• In coordination with Internal Control, conduct reviews of written supervisory procedures assigned to FICC supervisors to ensure they adequately reflect current practices and regulatory requirements
• Evaluate US and global new business proposals as required under New Initiatives (NIA) policies; provide a written description supporting the Compliance assessment of NIAs
• Coordinate with Internal Control on compliance risk assessments, independently conduct effective challenge for the assessments, and adequately document Compliance rationale
• In support of the Regulatory Library, evaluate new and proposed laws and regulations, determine applicability and impact for specific FICC businesses, and evaluate the impact of controls to address compliance
• Participate in the review of monitoring and surveillance routines and respond to alerts or issues from Surveillance by investigating circumstances surrounding trades or communications and escalating breaches
• Investigate and respond to regulatory inquiries and examinations involving FICC businesses by obtaining requested data, analyzing potential compliance issues, and preparing written responses
• Conduct assigned monitoring and compliance processes in accordance with written compliance procedures and evidence completion of tasks
• Monitor the regulatory environment for emerging legislation and policy statements, along with relevant trends and industry best practices applicable to the FICC business
• Proactively identify issues and participate in remediation and regulatory change initiatives; provide regular updates to relevant stakeholders
• Represent US Compliance in global and cross-divisional projects supporting regulatory requirements
• Identify and escalate compliance issues (including to SCUSA and NYA governance committees) and ensure Internal Audit and Compliance Testing findings assigned to Compliance are adequately addressed to facilitate timely closure
• Collaborate with Swap Dealer, Volcker and Bank Holding Compliance officers to enhance compliance coverage of FICC businesses; provide expertise and assistance to other US and global Compliance personnel
• Understand how the Bank's risk appetite and risk culture should be considered in day-to-day activities and decisions
• Actively pursue effective and efficient operation of responsibilities as a Compliance Officer in accordance with Scotiabank's values and its Code of Conduct
• Champion high performance and contribute to an inclusive work environment

Reporting structure

Reports to: Head of Markets Compliance. Direct reports: None.

Role scope

This is a non-managerial role in U.S. Compliance requiring subject matter expertise in FICC market practices and the laws and regulatory requirements applicable to FICC trading and sales businesses. The FICC Compliance Officer must apply a detailed understanding of BNS and SCUSA FICC businesses, including personnel, operations, and systems, to analyze and evaluate compliance risk. The role requires a strong work ethic, high motivation, and a proactive approach to responsibilities.

Qualifications

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

Working conditions

• Hybrid working role; frequent presence on the US trading floor is important to the effectiveness of the Compliance program for trading and sales businesses
• Requires ability to work in a fast-paced trading floor environment
• Travel is not generally required; occasional visits to the Bank's business continuity back-up site in New Jersey may be necessary

Pay

Salary range: $121,000 - $231,000 per year. The salary range shown is a guideline only; salary offered may vary based on factors including the successful candidate's relevant knowledge, skills, and experience.

Benefits

Scotiabank offers flexible benefit programs designed to support holistic well-being, including family, financial, physical, mental, and social health needs.