Executive Director, Swap Dealer Compliance Officer

CIBC

  • New York City, NY
  • Permanent
  • Full-time
  • 1 month ago
We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients.At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.To learn more about CIBC, please visitWhat You’ll Be Doing:The Swap Dealer Compliance Officer is responsible for performing important advisory, training, surveillance and analytical functions to support CIBC’s Swap Dealer Compliance program. The Swap Dealer Compliance Officer is primarily responsible for 1) advising CIBC’s global Swaps OTC Derivatives businesses on CFTC, SEC, and NFA rule requirements, as well as CIBC’s Global Markets employees on the technical aspects of rules for the SEC Security Based Swaps Dealer and the CFTC Swap Dealer; 2) collaborating with Front Office and Technology personnel on developing and implementing solutions to address regulatory requirements; 3) identifying and addressing the regulatory aspects of new U.S. and cross-border business initiatives; 4) assisting with regulatory exams by regulators such as NFA and SEC; 5) developing and conducting training on specific rules and regulations which affect the Swap Dealer sales and trading desk’s daily business activities; and 6) monitoring sales and trading activities to ensure compliance with CIBC policies and regulatory requirements.How You’ll Succeed:
  • Providing ongoing Compliance advisory services on regulatory matters to personnel in swaps sales and trading businesses and key support functions;
  • Analyzing proposed/new rules as well as market and internal business developments to assess the overall impact on the global Swaps OTC Derivatives businesses;
  • Assisting with the design and implementation of CIBC’s Swap Dealer and Security Based Swap Dealer compliance program;
  • Drafting and maintaining key policies and procedures relating to new CFTC and SEC swaps rules implemented under Dodd-Frank which affect CIBC’s global swaps activities;
  • Assisting with the drafting of CIBC’s Annual Swap Dealer and Security Based Swap Dealer Chief Compliance Officer Reports;
  • Drafting and maintaining key policies and procedures relating to the swaps and OTC derivatives business to address new or changed regulations, identified deficiencies, or to enhance the overall effectiveness of the Compliance program;
  • Collaborating with Technology, Regulatory Operations and front office personnel on the development and implementation of solutions to address existing and new regulatory requirements;
  • Coordinating U.S. regulatory exams, compliance exams and audits by Internal Audit;
  • Assisting in the preparation of written responses to regulatory exams and inquiries;
  • Performing risk assessments of U.S. regulatory requirement group topics to determine risk ratings under CIBC’s Regulatory Compliance Management framework;
  • Assist in the monitoring of daily sales and trading activities of CIBC’s derivatives businesses to assess overall compliance with CFTC and SEC rules pertaining to swaps implemented under the Dodd-Frank Act (e.g. real-time/SDR reporting, large trader reporting, external business conduct rules, etc.);
  • Assisting in the preparation of Regulatory Filings (e.g. CCO Annual Reports and NFA Annual Questionnaire);
  • Evaluating new business initiatives to ensure compliance issues are identified and addressed and an appropriate Compliance program to support the initiative is implemented;
  • Conducting Compliance training on matters pertaining to CFTC, SEC, NFA and SEF rule requirements;
  • Effectively challenging the business to align processes and controls with regulatory expectations and best practices; and
  • Representing CIBC in key industry association working groups (e.g. SIFMA, ISDA, FIA).
Who You Are:
  • 4-year undergraduate degree;
  • Minimum 5-7 years of capital markets Compliance or Legal experience (two years or more of Swap Dealer Compliance preferred);
  • Experience in providing regulatory or compliance advice in connection with derivatives markets a plus;
  • Experience as a regulatory examiner with SEC, NFA or FINRA (NFA or SEC Examiner of Swap Dealers a plus:
  • Understanding of U.S. regulatory landscape and industry practices with respect to OTC Derivatives sales and trading;
  • Ability to concisely draft internal and external communications, policies and procedures, trainings, bulletins, and other materials;
  • Ability to evaluate complex regulatory matters and provide clear and insightful guidance to senior management and trading personnel;
  • Ability to manage Compliance technology projects;
  • Ability to develop and maintain automated exception based surveillance reports:
  • Strong interpersonal skills in order to maintain working relationships;
  • Excellent verbal and writing skills;
  • Teaching and mentoring junior employees;
  • Swaps Proficiency Exam holder is a plus; and
  • Swap Trade reporting experience is a plus.
  • Values matter to you. You bring your real self to work and you live our values – trust, teamwork, and accountability.
#LI-TACross-Functional Relationships:This job requires interaction with:
  • Technology in order to continually evaluate and enhance systems to address specific regulatory requirements and surveillance reports to achieve optimal efficiency and ensure accurate criteria;
  • Line of business staff to inquire about issues of potential regulatory concern and to advise on Compliance related matters;
  • Infrastructure support groups (e.g., Finance and Operations) to collaborate on control issues;
  • U.S. Legal to seek interpretive guidance on technical regulatory requirements; and
  • U.S. regulators and CIBC Internal Audit staff during regulatory exams and audits
Compliance Requirements/Responsibilities:
  • As an employee of CIBC, the incumbent must comply with all applicable CIBC and Line of Business policies, standards, guidelines and controls;
  • As a Compliance Officer, this job is accountable for reviewing the work of others in the business unit to ensure adherence with all CIBC and LOB governance requirements;
  • As an employee of CIBC, the incumbent must complete all annual training requirements
Authorities/Decision Rights:As a key contributor to Compliance, this job has,
  • the authority to recommend changes to U.S. policies and procedures to ensure that relevant regulatory requirements are properly documented and processes are developed and implemented done in the most effective and efficient manner to achieve regulatory compliance;
  • the authority to represent Compliance on internal projects relating to the development and implementation of trading and trade reporting systems for derivatives and related cash products;
At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $200,00- $250,000 for the New York, NY market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which also may include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave, and Vacation), Holidays, and 401(k), in addition to other special perks reserved for our team members.Candidates hired to work in other locations will be subject to the pay range associated with that location. Additional total compensation and benefits details will be provided during the hiring process.What CIBC OffersAt CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program*, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.*Subject to plan and program terms and conditionsWhat you need to knowCIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contactYou need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.Job Location NY-300 Madison Ave., 6th FloorEmployment Type RegularWeekly Hours 40Skills Business Conduct, Compliance Programs, Compliance Requirements, Data Research, Decision Making, Process Improvements, Quality Assurance (QA), Regulatory Compliance, Risk Assessments, Strategic Objectives

CIBC