Senior Compliance Specialist

Wells Fargo
London, United Kingdom
19 Aug 2022
02 Sep 2022
Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
About this role:

The EMEA Compliance Surveillance team ('Surveillance') monitors and analyses the sales, trading and banking activities conducted by the Corporate Investment Bank, as well as undertaking the surveillance of electronic communications (e.g. e-mail, Bloomberg etc.) and telephone communications across Commercial Banking and Enterprise Function. Surveillance is in the process to expand its coverage significantly across all lines of business by implementing strategic surveillance capabilities and/or expanding coverage through the existing controls.

This role will initially oversee the change the bank activities for communications surveillance (electronic communications and voice) which will subsequently develop into a BAU role managing communications surveillance process in compliance with EMEA and other globally applicable regulations. The role may require trade surveillance activities to be carried out as well.

The position reports into the Head of EMEA Surveillance and will work closely with Compliance Advisory, Front Office COO and Control Office, Audit and global surveillance teams.

In this role, you will:
  • Be responsible for managing the development of communications surveillance implementation within Corporate Investment Bank, Commercial Bank and Enterprise Functions in compliance with EMEA and global regulatory expectations.
  • Act as a subject matter expert in the performance of surveillance monitoring across a range of products and lines of business.
  • Have intermediate knowledge of regulatory requirements and a good understanding of MAR, MiFID II, US regulatory expectations and other relevant regulations or industry standards.
  • Carry out surveillance work with the aim of identifying any attempt by client's or members of staff of the firm, to commit financial crime, market abuse, market manipulation, or other breach of rules or regulations.
  • Participate in departmental compliance and conduct risk assessment exercises to help direct the work of the department in conducting market conduct risk assessment and scenario analysis.
  • Perform deep dive investigations to identify potential market abuse, including market manipulation, trading on insider information, competition law and market conduct breaches.
  • As a technical expert you will work with and support senior management in the identification and mitigation of key risks.
  • Design and deliver Compliance Surveillance training as required.
  • Design and deliver periodic Compliance reports and MI to senior management.
  • Demonstrate and share knowledge of UK and global regulatory developments and provide practical and immediate interpretation of regulations in the context of the firm's business activities.
  • Suggest new processes for identifying and monitoring Compliance and Conduct Risk.
  • Produce policies and guides for the firm, liaising with other regional centres and Head Office functions were necessary, accompanied by appropriate training as requested.
  • Ensure that the second line Compliance Surveillance staff act as an independent challenge to the front office, escalating any concerns about breaches or law, regulation or internal policies.
  • Design, maintain and use Compliance and Conduct Risk management frameworks to identify risk and determine risk-based activities.
  • Support Compliance Testing and Internal Audit and where appropriate taking responsibility for addressing corrective action plans in respect of Regulatory Compliance surveillance.
  • Identify opportunities to enhance existing surveillance processes and recommend areas for improvement.
  • Pro-actively identify and manage Regulatory Compliance risk.
  • Support Compliance Testing and Internal Audit and where appropriate taking responsibility for addressing corrective action plans in respect of Regulatory Compliance surveillance.
  • Identify opportunities to enhance existing surveillance processes and recommend areas for improvement.
  • Pro-actively identify and manage Regulatory Compliance risk.
Required Qualifications:
  • Educated to degree level.
  • Working knowledge of Conduct Risk with specialism in MAR, Competition Law, Market and Client Conduct
  • AI development - understand NLP, as well as new language capture.
  • Understanding the business model/mandates for all desks - MiFID products or other.
  • Working knowledge with Digital Reasoning preferable.
  • Strong knowledge of securities and/or derivatives products.
  • Strong understanding of FCA, PRA and European regulatory requirements and how these apply to sales & trading lines of business.
  • US regulatory knowledge is desirable.
  • Preferably hold industry qualification &/or post graduate qualification.
  • Analytical skills - the candidate must be highly analytical with experience in collecting, analyzing, and synthesizing information on various subjects.
  • Problem solving skills - the candidate must demonstrate the ability to identify key issues and obtain appropriate information for further analysis.
  • Communication - excellent interpersonal, communication (written and oral) skills are essential with an ability to liaise professionally and with diplomacy across all levels of staff.
  • Highly IT literate - including Microsoft Excel, Access, Word, PowerPoint and other reporting tools but also able to understand use of technology for improving the regulatory control environment.
  • French, Italian, German language skills preferable.
We Value Diversity

At Wells Fargo, we believe in diversity, equity and inclusion in the workplace; accordingly, we welcome applications for employment from all qualified candidates, regardless of race, color, gender, national origin, religion, age, sexual orientation, gender identity, gender expression, genetic information, individuals with disabilities, pregnancy, marital status, status as a protected veteran or any other status protected by applicable law.

Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit's risk appetite and all risk and compliance program requirements.

Candidates applying to job openings posted in US: All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Candidates applying to job openings posted in Canada: Applications for employment are encouraged from all qualified candidates, including women, persons with disabilities, aboriginal peoples and visible minorities. Accommodation for applicants with disabilities is available upon request in connection with the recruitment process.

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