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Location

Jersey City, NJ | United States

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Job description

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”).

Job Description

What is the Opportunity?

As an Associate Director on the US Regulatory Relations team, you will be responsible for maintaining 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”).

What will you do?

Inquiries and Exams

• Lead and handle the receipt, response, and follow-up for verbal and written regulatory inquiries and exams related to the FCM, Swap Dealer, SBSD, and IT & Operational Risk Management Topics, as well as requests with a particular focus in trade reporting topics (e.g., CAT, LOPR, TRACE, MSRB, etc.)

• 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 to draft and prepare responses to regulatory inquiries and exams

• Manage expectations internally and externally in responding to regulatory requests; and

• Identify and escalate emerging issues and trends associated with inquiries and exams, and areas prioritized by regulatory bodies to management

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

• Assist with summarizing and preparing reporting that communicates exam activity and issues for the Markets Regulatory Action Committee.

• Support internal and Board of Directors level regulatory reporting and promote 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; and

• Work closely with partners in other Functions and segments, to ensure consistent, insightful, and clear communications to senior management.

Additional Responsibilities

• Complete special projects, as assigned; and

• As required, create, and maintain department documentation, including manuals, training materials, and communications.

What do you need to succeed?

• Extensive and comprehensive regulatory knowledge and expertise (5+ year minimum)

• Excellent judgment and analytical skills

• Excellent written and oral communication skills

• Effective organization skills, including the ability to prioritize between tasks and deadlines

• Ability to effectively analyze risk to the organization of potential issues discovered

• Ability to interact with regulators and in team setting

• Attention to detail and accuracy are essential

• In-depth knowledge of markets regulations related to FCM, Swap Dealer, and SBSD entities

• In-depth knowledge of prudential regulations related to IT & Operational Risk Management topics (preferred)

• Experience in trade reporting requirements (e.g., CAT, LOPR, TRACE, MSRB, etc.) (preferred)

• Solid Microsoft Excel and PowerPoint skills, as well as general Microsoft Office skills

• Exam management experience (preferred)

What’s in it for you?

We thrive on the challenge to be our best, progressive thinking to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits, competitive compensation, commissions, and stock where applicable

• Leaders who support your development through coaching and managing opportunities

• Ability to make a difference and lasting impact

• Work in a dynamic, collaborative, progressive, and high-performing team

• Opportunities to do challenging work

• Opportunities to building close relationships with clients

The good-faith expected salary range for the above position is $110,000 - $190,000 depending on factors including but not limited to the candidate’s experience, skills, registration status; market conditions; and business needs.  This salary range does not include other elements of total compensation, including a discretionary bonus and benefits such as a 401(k) program with company-matching contributions; health, dental, vision, life and disability insurance; and paid time-off plan.

RBC’s compensation philosophy and principles recognize the importance of a highly qualified global workforce and plays a critical role in attracting, engaging and retaining talent that:

·       Drives RBC’s high performance culture

·       Enables collective achievement of our strategic goals

·       Generates sustainable shareholder returns and above market shareholder value

Job Skills

Critical Thinking, Data Gathering Analysis, Decision Making, Financial Regulation, Industry Knowledge, Interpersonal Relationship Management, Product Services, Strategic Thinking

Additional Job Details

Address:

GOLDMAN SACHS TOWER, 30 HUDSON STREET:JERSEY CITY

City:

Jersey City

Country:

United States of America

Work hours/week:

40

Employment Type:

Full time

Platform:

Law and Compliance

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2024-01-26

Application Deadline:

2024-03-08

I nclusion and Equal Opportunity Employment

At RBC, we embrace diversity and inclusion for innovation and growth. We are committed to building inclusive teams and an equitable workplace for our employees to bring their true selves to work. We are taking actions to tackle issues of inequity and systemic bias to support our diverse talent, clients and communities.
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We also strive to provide an accessible candidate experience for our prospective employees with different abilities. Please let us know if you need any accommodations during the recruitment process.

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