SENIOR BANK COMPLIANCE OFFICER

PURPOSE: • Provide Senior Management with effective regulatory compliance supervision of the One Liberty Plaza New York Branch, associated RBC Capital Markets Representative Offices and other bank-licensed locations facilitating the Capital Markets Division of RBC, (collectively “OLP Branch”).

• Keep current with U.S. Regulations impacting these units.

•Act as the primary contact with the regulatory authorities supervising the “OLP Branch” for inquiries related to examination requests, quarterly and annual reporting requirements and ongoing contact and regulatory requests.

•Coordinate all aspects of regulatory examinations for the “OLP Branch”, including follow-up of issues/violations identified by the examiners and implementing corrective action
i.e. training where appropriate.

•Ensure Compliance oversight processes are aligned with business strategies, operations and processes and that identified gaps or weaknesses with recommended action plans are escalated to senior management for review and approval.

•Ensure appropriate policies and procedures are in place to protect the integrity and reputation of “OLP Branch” and the organization as a whole.

•Provide compliance training to “OLP Branch” staff including overseeing the development of training materials, training programs, etc.

Authority to:
•Communicate directly with Business Units.
•Advise Business Units regarding regulatory compliance and corrections to specified exception items.
•Recommend RBC GRM Compliance priorities.
•Make recommendations regarding Regulatory and Compliance policy approvals and exceptions for RBC businesses.
•Offer recommendations to Management regarding policy, procedural and weaknesses.
•Analyze and recommend changes to RBC’s Written Compliance Manual.
•Speak to regulators
•Recommend policy and procedure to Senior Management
•Submit Bank filings

Impact and Risk:
•Effective performance has a major impact in ensuring compliance with US banking laws and regulations.
•Has significant positive impact on regulatory and operational compliance through effective completion of special projects related to the supervisory, examination and operational compliance areas.
•Significant regulatory, reputational and financial risk and impact
Job Requirements PRIMARY RESPONSIBILITIES

•Provide Senior Management with effective regulatory compliance supervision of the “OLP Branch” and act as the primary contact with the regulatory authorities supervising the “OLP Branch” for examinations, regulatory inquiries and ongoing requests.
•Coordinate all aspects of regulatory examinations for the “OLP Branch”.
•Follow-up on issues/violations identified by the examiners both internal and external and implement corrective action and training where appropriate.
•Assess existing compliance program, adapting current or developing new compliance policies and procedures and managing the implementation of any necessary additions to the current program and coordinating local regulatory requirements with enterprise policies.
•Address compliance issues as they arise, which could entail conducting research on the Internet, conferring with internal and external counsel, speaking with regulators and polling other compliance professionals for their view on how they address certain issues.
•Administer and update compliance manuals relating to the existing businesses conducted from or under the regulatory auspices of “OLP Branch”.
•Prepare and submit the annual Home Mortgage Disclosure Act data report to the government agency requiring the information.
•Act as the “OLP Branch” Privacy Officer by ensuring Privacy Policy Notices and policies are current and that the appropriate Privacy Notices are sent out as required.
•Liaise with U.S.A. Privacy Officer to coordinate compliance and consistency with Enterprise Privacy Policy.
•Assist in the analysis of new and revised regulations and developing and drafting appropriate procedures.
•Monitor compliance with consumer protection regulations, (e.g.), Regulation Y, Regulation Z, Truth in Lending, Regulation CC; UCC Article 4(a); Regulation C, Home Mortgage Disclosure Act; and other consumer compliance regulations impacting RBC business in the USA.
•Assist in the development and maintenance of the Bank Compliance Matrix.
•Participates in various RBCMM and RBC committees, as required.
•Identify and recommend action plans to address Compliance Risks for Management review and approval
•Provide compliance training, including overseeing the development of training materials, training programs, etc., including continuing education programs and annual compliance training programs.
•Develop and oversee “OLP Branch” compliance testing program.
•Participate in industry compliance groups (e.g., IIB, etc.) in order to better identify compliance trends and industry standards.
•Liaise with AML Compliance as necessary
•Participate in special projects as required.

KEY RELATIONSHIPS
•Chief Compliance Officer and Deputy Compliance Director, RBCCM: Keep them updated on responsibilities and recommend escalation of issues as necessary.
•VP, Royal Bank of Canada and MD, RBCCM Operations: Keep them updated on the status of audit issues.
•VP Royal Bank of Canada and Managing Director Financial Accounting/Reporting: Discuss identified exceptions, ongoing business issues and risk and regulatory issues as necessary.
•Head Office GRM Compliance
•Senior VP and Deputy General Counsel, Legal, RBCM; other members of Law Department Staff. Toronto and New York: Discuss legal issues relative to the Firm’s Regulatory Requirements.
•Regulatory Examiners/Internal/External Audits: Provide documents and explanations as required.
•Industry Associations/working groups, internal and external: Discuss issues; develop standards and best practices.
•AML Compliance (NY and Head Office): Discuss AML related issues for “OLP Branch”


JOB SPECIFICATIONS

Required:

•Extensive knowledge of U. S. Banking Industry Rules and Regulations
•Minimum 6-10 years in-house experience
•Extensive knowledge of RBC Business Units and the products and services offered
•Working knowledge of Global Regulatory requirements
•General knowledge of the brokerage industry
•Familiarity with complex structured products and related Capital Market activities
•Familiarity with the fiduciary responsibilities of a Branch exercising its trust powers and creating protocols to monitor and mitigate conflicts of interest
•Working knowledge of systems, technology and databases
•Written and Oral communication skills
•Well developed organizational skills
•Proficient analytical skills
•Ability to impact and influence
•Teamwork

Preferred:

•Regulatory Background

ONLY CANDIDATE RESUMES AND COVER LETTERS SUBMITTED IN WORD FORMAT WILL BE REVIEWED

ONLY CANDIDATES OF INTEREST WILL BC CONTACTEDCompany Overview

RBC Capital Markets is an international corporate and investment bank, offering a broad range of products and services to institutions, corporations, governments and high net worth clients around the world. With nearly 3,600 professional and support staff, we serve clients through 60 offices in 11 countries. We are part of one of the world's largest providers of financial services, Royal Bank of Canada (RBC). Operating since 1869, RBC is a leading international bank with more than US$360 billion in assets and one of the highest credit ratings of any financial institution (Moody's Aa2, Standard & Poor's AA-). Today, RBC serves more than 14 million clients worldwide, from individuals to corporations to institutions, through more than 2,000 offices in 30 countries.