Legal & Compliance Department-Regulatory Affairs Office (RAO) AVP/VP

Overview

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

Responsibilities

• Regulatory Affairs Liaison: Communication with Regulators and Bank Management
• Serve as the primary liaison with regulatory agencies and the Bank during periodic examinations and BAU or ad hoc inquiries;
• Facilitate prompt review and approval of submissions and commitment closures;
• Oversee the bank examination process for exams and enhanced continuous monitoring reviews conducted by the different U.S. regulatory authorities;
• Lead in maintaining fluid and regular communications between the Bank and its regulators;
• Convey regulators’ inquiry/advice/comments/instruction/concerns to relevant parties and drive a resolution to address those in a timely manner;
• Support key stakeholders in the writing of regulatory responses ensuring comprehensiveness and consistency across lines of business;
• Manage escalations related to regulatory matters and/or deliverables, and provide support to ensure proper awareness and communication to applicable stakeholders including the regulators and Executive Management as applicable;
• Ensure standards are maintained and followed related to the Bank’s regulatory interactions, including exam management, regulatory meeting, request for information and other ad hoc communications;
• Drive and Execute quality reviews of all regulatory submissions to ensure deliverables meet strict deadlines and fulfil regulatory and quality standards; leverage knowledge of U.S. Banking regulations and compliance rules;
• Oversee all facets of compliance-related regulatory exams, as well as additional exams covering other Independent Risk Management (IRM) functions, such as Operational Risk Management, etc., as requested by CRO; manage exam requests, meeting preparation and presentation, exam logistics, and communication of exam deadlines and updates to relevant parties, and Senior and Executive Management; and ensure efficient, effective and accurate communication between regulators and the Bank.
• Regulatory Affairs Office Recordkeeping and Retention
• Oversee the documentation and maintenance of comprehensive records of communications and regulatory affairs in line with both the Bank’s policies/standards and regulatory expectations;
• Review minutes for regulatory meetings; consider internal stakeholder feedback; maintain RAO records of such;
• Maintain and communicate the regulatory exam schedule, including exam results and documentation (SL) and key metrics related to RAO functions;
• Establish and maintain RAO Procedure and relevant processes; facilitate procedure approvals and relevant training, as needed;
• Periodically review and update the RAO Procedure, and conduct ad-hoc amendment per regulatory requirement or instruction from Management;
• Develop and drive other regulatory affairs processes, as needed;
• Regulatory Affairs Office Reporting
• Oversee coordination and review of regulatory-related information and status updates for periodic reporting to Management and committees;
• Review and assess items to be submitted for remediation validation and evaluation against stated regulatory expectations;
• Review supporting documents for remediation to confirm regulatory MRAs/MRIAs are addressed;
• Provide guidance and support in the development of remediation documentation and supporting information;
• Monitor and track corrective actions regarding Regulatory Enforcement Action and MRA remediation plan progress; facilitate the preparation and reporting of overall remediation status of open issues to the management team; manage related communication with the regulators on ongoing and timely basis;
• Organize and participate in internal meetings with stakeholders and management to discuss progress in corrective actions;
• Report to Management with most updated information regarding regulatory affairs

Qualifications

• Bachelor’s degree required; advanced degree (i.e., MBA, JD, etc.) preferred.
• Minimum 10 years of work experience in banking, preferrably in a risk management and/or compliance-related function; prefer experience managing regulatory affairs, managing teams, and/or prior experience working at a regulatory agency.
• Or combination of 5 years exerience in banking and 5 years managing regulatory affairs, and/or prior experience at a regulatory agency.
• Understanding of bank processes, risks, controls, and overall governance framework.
• Experience in managing high-priority, cross-functional projects involving multiple stakeholders, and/or experience related to regulatory issue remediation a plus.
• Experience with committee and senior management-level reporting; development and review of policies/procedures.
• Strong knowledge of regulatory environment; knowledge of BSA/AML and Sanctions Compliance preferred.
• Excellent verbal and written communication skills
• Solid analytical and computer skills (Microsoft Office, with a focus on Excel/pivot tables)
• and detail-oriented.
• Strong relationship management/leadership skills; ability to work well under high-pressure situations and use negotiation/influencing skills to reach positive conclusions.
• Task oriented with sound time management skills; ability to manage and deliver against multiple priorities to meet critical deadlines.
• Strong team player mindset and effective collaborator.
• Sound problem-solving skills, able to drive solutions; possesses independent judgement and discernment.
• Strong knowledge of industry best practices, regulations, and industry developments.
• CAMS or other relevant certification preferred.

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications. USD $110,000.00 - USD $230,000.00 /Yr.