Vice President Supervision, Global Trade & Banking, Asia & Europe
- Shanghai, Shanghai Shi, China
- Permanent, Full time
- Bank of Montreal Asia
- 26 Sep 16
Business Unit Compliance is responsible for directing, leading and operating the First Line of Defense’s Operating Group Compliance Program (OGCP). The incumbent will lead and be accountable for assigned areas of Supervision with a strong focus on Global Trade & Banking for Europe and Asia. Assigned areas could include support for other businesses including other areas of Capital Markets, areas of Wealth Management, and of Corporate/Support areas.
Key Accountabilities – Business Compliance
In their assigned Assessable Unit(s), the incumbent’s primary responsibilities are to serve as their Operating Group’s primary day-to-day manager in championing and supervising the design and execution of the OGCP including:
• In consultation with the Compliance Group, ensuring that OGCP policies, processes and procedures to comply with the Bank Compliance Polices and guidelines, are established, executed and reviewed periodically.
• Ensuring the scope of their OGCP incorporates current AUs.
• Ensuring Compliance Controls are designed implemented and, in consultation with the 2nd Line of Defense Compliance team, aligned to Regulatory Requirements and the Enterprise Compliance Risk Appetite and Compliance Culture (i.e. testing).
• Conducting and validating Operating Group Regulatory Compliance Risk Assessments.
• Ensuring that applicable Operational Risk Management Framework Risk and Control Assessments maintained by the Operating Group accurately reflect the level of Regulatory and Related Risks.
• Assisting in identifying, assessing the severity of, reporting and overseeing remediation of Compliance Issues currently impacting, or with the potential to impact, the effectiveness of the OGCP.
• Monitoring the resolution of Compliance Issue action plans.
• Escalating when they become aware of Operating Group developments which may impact the operation of the OGCP and/or Operating Group Regulatory Risk Profile.
• Identifying, ensuring and/or participating along with the Compliance Group in the delivery of and the fulfillment of any compliance-related OGCP training needs, as appropriate.
• Identifying areas and methods for relying on existing control and assurance functions to streamline the Business Unit Compliance Program.
• Other internal control duties and responsibilities as assigned.
Key Accountabilities – Supervision
The Vice President will be responsible for the monitoring and supervision of a set of trading and/or business activities.
These activities will include:
Monitoring and Supervision of regulatory compliance across a range of businesses spanning Global Trade and Banking Products and other products as assigned. Product lines will be focused on trade and global banking but may include other areas; in particular: Vostros, Money Market, Trade Finance (including bank refinancing and loans), and potentially Bonds, Equities, Derivatives etc.
Additionally, the Vice President is accountable for helping to promote an inherent culture of compliance across Capital Markets Trading Products so that resources may be committed toward proactive rather than reactive gap analysis.
The Vice President will work closely with the business units as well as 2nd line Compliance to ensure adherence to all applicable regulations.
This role may include the management of staff actively engaged in the Supervision.
The Vice President will be expected to:
• Provide consultation and advice to trading desks and Business Heads
• Perform necessary functions and activities to ensure and demonstrate compliance with the Operating Group Compliance Program
• Supervise business activities to ensure compliance with all applicable regulations.
• Partner closely with Compliance and Supervision colleagues in order to monitor Regulatory developments in the context of current rules and industry trends.
• Review alerts on electronic communications and potentially perform voice reviews of employees to ensure appropriateness of communications
Secondary Mandate – Selected Business Compliance & Control Areas
EBC & AML will own several important local regulatory mandates as assigned by senior executives in Asia. The incumbent may have accountabilities or tasks as assigned for these mandates. Examples include Branch Governance Policy, Bank-Wide and Branch Performance Management framework & measurement, Chop/Seal Management, Data Quality, Policy & Procedure Management, Fee Management, Interest Rate Management, and/or Deposit Insurance. The incumbent may be assigned aspects of these accountabilities.
• Ability to challenge others about any action in an appropriate and balanced manner. They shall also be able to follow-up on any concern, question or issue that may arise.
• Overall understanding of the Operating Group and/or assigned AU(s)
• Direct access to all operations within their assigned AU(s), which includes access to all documents if the Director believes are relevant for the effective execution of their compliance responsibilities;
• Attend meetings the incumbent believes are relevant for an effective execution of the program.
• Appropriate access to all levels of Management in their assigned AU(s) as well as the OGL and the Compliance Group, as required
• Direct access to Desk Heads and Business Managers for escalation &/or clarification of Activities.
• Assist First Line colleagues with Regulatory Exam readiness, and when necessary interact directly with Regulators in coordination with First Line Executives.
Cross Functional Relationships
• Line of Business and functional unit personnel, management, and business unit heads
• Enterprise Business Continuity Management
• Product Operations Business Continuity, Capital Markets BCM, and PCG Headquarters Regulatory
• Enterprise Operational Risk
• Strong product knowledge and understanding of trade finance and bank-to-bank activities and applicable regulations.
• Solid knowledge of trade finance and global banking related regulations – ideally including many of CBRC, SAFE, PBOC, MAS, HKMA, FCA, OSFI, and FFIEC regulations/guidance
• Strong written and oral communication skills
• Strong relationship management skills; ability to establish and manage multiple stakeholder relationships with the business, within the three lines of defense and with corporate support functions
• Proven project leadership capabilities and an ability to co-ordinate the efforts of people and resources not under their direct control
• Ability to read technical compliance material and distil the applicability of the regulations to respective business unit(s)
• Demonstrated analytical, auditing, writing, communications and presentation skills
• Excellent judgment and interpersonal skills, who can consult, influence, collaborate, effectively challenge colleagues across first, second and third line and the business groups
• Strong analytical skills – analyze the evidence collected on remediated controls and determine if there is substantive conformance with requirements
• Ability to recognize material differences between planned execution and actual practice
• Ability to communicate questions and requests in a professional and clear manner
• Advanced educational degree is desirable – MBA, CPA, JD or CFA
• Advanced written and verbal communications, both English and Mandarin; Cantonese a plus
• Strong planning skills (re finance, resource, strategy, business)
• Advanced risk management skills
• Advanced Business Continuity Planning/ Business Continuity Management / Disaster Recovery Planning skills
• Advanced influencing skills
• Advanced stakeholder relationship management skills
• Advanced facilitation/ presentation skills
• Advanced conflict management/ resolution skills
• Strong teamwork skills
• Strong report-writing skills, with ability to create and organize varying forms of business information while developing it into cohesive, meaningful, professional reports and presentations
• Advanced written and oral communication skills, with the capability to present and articulate complex concepts