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Job Title
Associate Director, U. S. Regulatory Relations
Job Description
Inquiries and Exams
- With minimal supervision, lead and handle the receipt, response, and follow-up for regulatory inquiries and exam related to the FCM, Swap Dealer, SBSD, and IT & Operational Risk Management Topics, as well as RBCCM and CMA related requests based on Regulatory Relations Coverage Model;
- Field verbal and written inquiries from various regulatory agencies, including investigations or exams initiated by regulatory agencies;
- Streamline and actively maintain the receipt of written inquiries and exam requests through a centralized mailbox;
- Coordinate and/or conduct due diligence and determine materiality of regulatory issues raised in connection with regulatory inquiries and exams;
- Work closely with relevant subject matter experts and stakeholders throughout FCM, Swap Dealer, SBSD, RBCCM, and CMA to draft and prepare responses to regulatory inquiries and exams;
- Manage expectations internally and externally in responding to regulatory requests;
- Manage risk, both material risk to the Firm and the risk of regulatory contacts, by escalating and notifying business units of findings and/or corrective actions required, as appropriate. Assist in and monitor the enhancement of areas that have been identified with findings and/or corrective actions;
- Review books and records pertaining to FCM, Swap Dealer, SBSD, RBCCM, and CMA inquiries and exams for proper and complete maintenance;
- Identify and escalate emerging issues and trends associated with inquiries and exams, and areas prioritized by regulatory bodies to management;
- Provide additional resource as an Exam Coordinator for Prudential Exams;
- Manage technical enhancements and expansion of the department’s inquiry and exam recordkeeping system; and
- Manage the creation, enhancement, and reporting of department’s metrics reporting.
Continuous Monitoring
- Manage direct contact with regulators by acting as the primary point of contact with CFTC, CME, ICE, and NFA examiners. This includes fielding verbal and written inquiries from each of the primary regulatory leads; and
- Facilitate and summarize regular meetings with regulators and RBC senior management.
Internal Reporting
- Summarize and prepare reporting that communicates exam activity and issues for the Markets Regulatory Action Committee;
- Prepare internal and Board of Directors level regulatory reporting, and promotes information sharing of existing and new material regulatory issues. Also support enterprise-wide reporting programs, such as RegComp, by recording and updating results of regulatory exams, issues, and investigations;
- Work closely with partners in other Functions and segments, to ensure consistent, insightful and clear communications to senior management; and
- Manage and track Firm and regulatory risk through a monthly metrics report detailing U.S. Regulatory Relations themes and trends in regulatory exams, inquiries, and continuous monitoring.
Additional Responsibilities
- Complete special projects, as assigned; and
- As required, create and maintain department documentation, including manuals, training materials, and communications.
Job Summary
•Maintains effective regulatory relations and a compliance program for continuous monitoring, regulatory inquiries and exams associated with Futures Commission Merchant (“FCM”), Royal Bank of Canada Swap Dealer (“Swap Dealer”), Royal Bank of Canada Security-Based Swap Dealer (“SBSD”), as well as RBC Capital Markets, LLC (“RBCCM”) and RBC CMA LLC (“CMA”) based on the Regulatory Relations Coverage Model;
•Assist in the governance and oversight of a consistent issues management strategy across all U.S. entities regarding Markets Regulatory Relations, including the development of thematic observations, conclusions and recommendations to U.S. Compliance; and
•Assist in the maintenance of the effective regulatory relations and compliance program for continuous monitoring, regulatory inquiries and exams associated with the Federal Reserve (“Fed”) and the Office of the Comptroller of the Currency (“OCC”) for Operational Risk, Cybersecurity, Technology, Third Party Risk Management and BCP/DR related focus areas (“IT & Operational Risk Management Topics”).
Address:
Jersey City, New Jersey, United States of America
City:
USA-NJ-JERSEY CITY
Country:
United States of America
Work hours/week:
40
Employment Type:
Full time
Platform:
Group Risk Management
Job Type:
Regular
Pay Type:
Salaried
Posted Date:
2023-02-28-08:00
Application Deadline:
Inclusion and Equal Opportunity Employment
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