AVP - Markets Compliance
- Hong Kong
- Permanent, Full time
- 21 Oct 17 2017-10-21
AVP - Markets Compliance
Barclays is a transatlantic consumer, corporate and investment bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US. Our goal is to become the bank of choice by providing superior services to customers and clients and supporting our stakeholders via a commercially successful business that generates long-term sustainable returns.
Our two clearly defined divisions, Barclays UK and Barclays International, provide diversification by business line, geography and customer, enhancing financial resilience and helping to contribute to the delivery of consistent returns through the business cycle. We have a strong core business with exciting prospects, well positioned to deliver long-term value for our shareholders.
Consistent with the objective of delivering long-term sustainable value for all our stakeholders, we have developed our Shared Growth Ambition - our approach to citizenship and the sustainability of the business model we operate. The aim is to make decisions and do business that provides our clients and customers, and the communities which we serve, with access to a prosperous future.
The delivery of our strategy is underpinned by the energy, commitment and passion of our people, and we are clear on our common purpose: to help people achieve their ambitions, in the right way.
About Barclays Compliance
Compliance at Barclays is located across 43 Countries with approximately 2000 employees. It oversees all compliance activities across Barclays, including all regions in which we do business. The world is changing and we need to too. We are making a paradigm shift to the way we operate, returning to the basics of ethical banking. Our vision is to become the "Go-To Bank", to be the role model for the banking industry.
Along with our core values, we have introduced the balanced scorecard which will help us to measure our success against our "Go-To" vision, giving all our colleagues clarity around what they should focus their energy on.
Compliance is an independent 'second line of defence'. It is absolutely at the heart of the Barclays "Go-To" vision. We are on a journey to achieving this vision, where positive changes have already been realised. We will act as the 'guiding light' for Barclays:
• Being an independent control for the bank
• Being a world class global compliance function
• Driven by the skilled and empowered individuals in Compliance who are focused on doing the right thing
• Reporting directly into the board and being a role model for the banking industry
Our drive for excellence is work in progress - it's about doing the best we can today and doing even better tomorrow. It's about being proud of our achievements and honest about the things that need to change. We are looking for people that have what it takes to make Barclays the "Go-To" bank.
People are a key component of the success of Compliance and are expected to play a central role in business decision-making, with the ability to lead and be a key component in complex projects. In taking proactive judgement, continuously challenging and anticipating risks compliance employees are the individuals that senior management of the firm significantly value as an essential contributor and partner when key decisions are being made.
The Compliance people strategy is focused on attracting, retaining and developing talented and capable employees by engaging them in fulfilling roles; in an environment that is empowering and rewarding. Individual career development is supported by an externally recognised Compliance Career Academy and underpinned by the right methodology and focus on internal mobility, reward, assessment and training.
Barclays is committed to creating an inclusive environment, where everyone's perspective is valued. Diverse teams bring varied opinions, skills, and experiences to the organisation. We believe this will help us make better decisions and deliver the best outcomes for our clients.
We provide large corporate, government and institutional clients with a full spectrum of solutions to their strategic advisory, financing and risk management needs
Overall purpose of role
This role reports into the head of Equity Fund Structuring/Equities Financing Group (EFS/EFG) Compliance in Hong Kong , who reports into Head of HK Market Compliance and ultimately reporting to the Head of Markets Compliance for APAC. The successful candidate will work closely with the markets Compliance tem in Hong Kong and the region, and also with Country and Central Compliance to provide compliance support on EFG/EFS Compliance matters to the relevant businesses. The role will primarily focus on providing compliance support to the firm's EFS/EFG businesses in Hong Kong on relevant regulatory matters including ID Markets, India, Taiwan and Korea, Stock Borrowing and Lending and Exchange Rules. The role will also offer the successful candidate exposure to a wide range of products, including Equities and Synthetic products.
· Provide support in relation to Compliance advisory provided to the relevant businesses stakeholders in respect of ID Markets regulations relating to the issuance of Synthetics Products and Stock Borrowing and Lending.
· Develop and maintain knowledge of the rules, regulations and internal process and procedures relating to the ID Markets and other jurisdictions where EFS/EFG undertake business activities
· Develop and maintain knowledge of the Cross Border regulations applicable the jurisdictions where EFS/EFG business operate
· Provide support in managing requests from other Compliance departments for the provision of information relating to EFS/EFG business lines, for example, reviewing and providing comments on escalations from Trade and E-Comms Surveillance teams, providing business/organisational information to the Country and Central Compliance teams for individual and supervisor registration purposes, etc.
· Provide support in managing regulatory requests for information, ad hoc investigations and supervisory inspections, which could include collation of trading information and explanation of trading/sales activities.
· Provide support in the review of marketing communications for all Non Japan Asia markets.
· Provide Support to head of EFS/EFG Compliance in Hong Kong as required.
· Review and preparation of regulatory reports in the region (ODI/QFII).
· Conducting Verification Checks on the above businesses.
Stakeholder Management and Leadership
· EFG and EFS business management including senior management and COOs and front office personnel.
· Infrastructure personnel supporting EFG and EFS business, including client onboarding teams, middle and back office employees, as well as control functions personnel such as Risk and Legal. The contact with the infrastructure personnel spans all levels, depending on the matter in questions. This may include senior personnel such as Head of Equities Legal should a matter warrant his/her attention, for example a contentious piece of marketing material that may require escalation by the Compliance AVP to the Head of Equities Legal.
· Demonstrate good influencing and negotiating skills with the business. This will encompass instances where business requests have to be turned down due to either regulatory or Barclays policy restrictions. The Compliance AVP will have to be able to explain the reason for the restriction, and work with the business to arrive at a compromise solution.
· From a conduct and integrity perspective challenge the business and escalate issues when they are identified to the EFS/EFG Compliance in Hong Kong and the Head of Markets Compliance as appropriate
Decision-making and Problem Solving
· Evaluate issues and where there are concerns determined (by the Compliance AVP), escalate to management within Compliance in a timely manner
· Examine Barclays conduct relating to its obligations to its stakeholders (regulators, customers, shareholders, etc.). When appropriate provide support and/or guidance as to applicable policies, standards or procedures relating to the proposal;
· Excellent organizational skills, able to manage daily queries with ongoing projects
· Ability to work closely with IT to find both technical and procedures solutions
· Ability to understand and explain compliance issues which have been identified clearly and concisely to Business Stakeholders and Compliance management as appropriate.
· Evaluate business proposals, including utilising the Barclays Lens , and appropriately challenge the business evaluation performed by the business and escalate as appropriate (e.g. does the proposal, if executed, create long term value or is the proposed activity in line with the Barclays Way);
· Determine if any Compliance-owned Standard or Policy has been breached, and issue the breach notification to the relevant employee, or if required, escalate to compliance management for further evaluation.
Risk and Control Objective
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards.
· Excellent analytical skills
· Strong product and regulatory knowledge across a number of Asian markets (not just Hong Kong) including restricted markets such as India, China, Korea and Taiwan (preferred)
· Ability to become familiar with new products and regulatory requirements, and learn quickly
· Ability to make decisions and respond to issues promptly under pressure
· Quick thinker with ability to understand complex transactions and explain compliance issues clearly and concisely
· Project experience
Purpose and Values
Barclays has a single cross-business Purpose for Barclays and five core Values which underpin it.
Our Purpose is helping people achieve their ambitions in the right way. Put simply this is the answer to the question 'What is Barclays for?' and it should guide our every action as employees.
We respect and value those we work with, and the contribution that they make.
We act fairly, ethically and openly in all we do.
We put our clients and customers at the centre of what we do.
We use our energy, skills and resources to deliver the best, sustainable results.
We are passionate about leaving things better than we found them.