FICC Compliance Officer, Senior Manager

Scotiabank; New York (NY); On-site; USD 121,000 - 231,000; Full time

Job summary

Scotiabank in New York seeks a FICC Compliance Officer, Senior Manager to provide primary compliance coverage for US FICC businesses within US Markets Compliance. You will advise on laws, rules, and internal policies to support risk management.

The role requires 5–7 years of compliance experience, strong analytical skills, and the ability to coordinate across multiple management levels and jurisdictions. Be part of a global bank with a culture of inclusion and performance.

Qualifications

• A minimum of 5-7 years of compliance experience, including experience providing advisory support to a US fixed income sales and trading operation.
• Knowledge of Treasury best practices and regulations, Government Securities Dealer requirements, and SEC and FINRA rules and guidance on fixed income cash and OTC derivatives trading, including requirements for markups, markdowns, best execution, and TRACE trade reporting.
• Experience developing policies and procedures, providing compliance training, conducting compliance risk assessments, responding to regulatory inquiries, etc.
• Strong analytical and investigative skills and demonstrated ability to operate at a strategic level.
• Able to coordinate across multiple management levels, jurisdictions, business lines and support functions to drive results.
• Able to operate with minimal direction, deliver work product of the appropriate quality, set goals

Responsibilities

• Champion a customer-focused culture and assist the US sales and trading businesses in their effort to deepen client relationships by leveraging broader Bank relationships, systems, and knowledge.
• Provide day-to-day compliance support for FICC cash trading and sales businesses by advising on the application of laws, rules, and regulations, as well as internal policies and procedures, to the businesses.
• Communicate with FICC management and US Compliance personnel on relevant compliance issues, the regulatory environment, and Compliance Department initiatives by actively participating in relevant business forums and internal meetings.
• Provide support to and monitor Treasury auctions to ensure bidding practices are in line with regulatory expectations and BNS NYA procedures. Assist in addressing issues relating to Treasury auctions.
• Create and provide online and in-person compliance training for FICC professionals and support personnel. Coordinate with other Compliance officers to ensure training is consistent across businesses. In coordination with the Training Group, evaluate personnel in scope for training.
• Develop, draft, amend and maintain FICC-related compliance policies, procedures and manuals outlining firm requirements, regulations, and best practices. Provide comments to relevant business and compliance policies and procedures as part of the internal review and governance process. In coordination with Internal Control, conduct reviews of written supervisory procedures assigned to FICC supervisors to ensure they adequately reflect current practices and regulatory requirements.

Job description

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Title: FICC Compliance Officer, Senior Manager

Requisition ID: 276690

Salary Range:121,000.00-231,000.00

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

Global Banking and Markets
Global Banking and Markets (GBM) is a leading Canadian Capital Markets and Investment Banking business with a growing platform in the US and Latin America, operating globally for over 100 years. Scotiabank’s strong U.S. presence provides our clients an important bridge to this key global market for trade and investment flows across the Americas and the world.
Global Banking & Markets provides a full range of investment banking, credit and risk management products and services relevant to the financing and strategic development needs of our clients. Our products include debt and equity financing, mergers & acquisitions, corporate banking, institutional equity sales, trading and research, fixed income products, derivatives, energy, foreign exchange and precious & metals. We also cross-sell the full range of wholesale products and services offered by the Scotiabank Group.
Be part of an innovative, Global Capital Markets and Investment Banking business with a unique geographic footprint that puts capital to work for our clients across industries! We work together to drive ambition for every future!

Job Title: FICC Compliance Officer, Senior Manager
Department: US Markets Compliance
Location: New York

Purpose of Job:
The FICC Compliance Officer is responsible for providing primary compliance coverage to the U.S. FICC businesses and assisting the businesses in meeting applicable regulatory and compliance obligations. The FICC Compliance officer also provides support for the Bank’s Compliance Risk Management Framework and its related programs.

Accountabilities

1. Champion a customer-focused culture and assist the US sales and trading businesses in their effort to deepen client relationships by leveraging broader Bank relationships, systems, and knowledge.
2. Provide day-to-day compliance support for FICC cash trading and sales businesses by advising on the application of laws, rules, and regulations, as well as internal policies and procedures, to the businesses.
3. Communicate with FICC management and US Compliance personnel on relevant compliance issues, the regulatory environment, and Compliance Department initiatives by actively participating in relevant business forums and internal meetings.
4. Provide support to and monitor Treasury auctions to ensure bidding practices are in line with regulatory expectations and BNS NYA procedures. Assist in addressing issues relating to Treasury auctions.
5. Create and provide online and in-person compliance training for FICC professionals and support personnel. Coordinate with other Compliance officers to ensure training is consistent across businesses. In coordination with the Training Group, evaluate personnel in scope for training.
6. Develop, draft, amend and maintain FICC-related compliance policies, procedures and manuals outlining firm requirements, regulations, and best practices. Provide comments to relevant business and compliance policies and procedures as part of the internal review and governance process. In coordination with Internal Control, conduct reviews of written supervisory procedures assigned to FICC supervisors to ensure they adequately reflect current practices and regulatory requirements.
7. Evaluate US and global new business proposals as required under New Initiatives (“NIA”) policies. Provide a written description supporting the Compliance assessment of NIAs in line with the requirements of US compliance procedures.
8. Coordinate with Internal Control on compliance risk assessments, independently conduct effective challenge for the assessments, and adequately document Compliance rationale.
9. In support of the Regulatory Library, evaluate new and proposed laws and regulations, determine the applicability and impact of laws and regulations for specific FICC businesses, and evaluate the impact of controls to address compliance.
10. Participate in the review of monitoring and surveillance routines and respond to alerts or issues from Surveillance by investigating the circumstances surrounding trades or communications and escalating breaches.
11. Investigate and respond to regulatory inquiries and examinations involving FICC businesses by obtaining requested data, analyzing any potential compliance issues identified and preparing a written response.
12. Conduct assigned monitoring and compliance processes in accordance with written compliance procedures and evidence completion of tasks.
13. Monitor the regulatory environment for emerging legislation and policy statements, along with relevant trends and industry best practices applicable to the FICC business through review of publications, participation in industry associations, contact with regulators and liaison with counsel and auditors.
14. Proactively identify issues and participate in remediation and regulatory change initiatives and provide regular updates to relevant stakeholders. Represent US Compliance in global and cross-divisional projects supporting regulatory requirements.
15. Identify and escalation compliance issues (including to SCUSA and NYA governance committees) and ensure Internal Audit and Compliance Testing findings assigned to Compliance are adequately addressed to facilitate timely closure.
16. Collaborate with Swap Dealer, Volker and Bank Holding Compliance officers to enhance the compliance coverage of FICC businesses and provide expertise and assistance to other US and global Compliance personnel to contribute to the execution of the Compliance Department mission.
17. Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
18. Actively pursue effective and efficient operation of responsibilities as a Compliance Officer in accordance with Scotiabank’s values and its Code of Conduct.
19. Champion high performance and contribute to an inclusive work environment.

Reporting Relationships:
Reports to: Head of Markets Complinace
Direct Reports: None

Dimensions

This is a non-managerial role in U.S. Compliance requiring subject matter expertise in FICC market practices and the laws and regulatory requirements applicable to FICC trading and sales businesses. The FICC Compliance Officer must apply a detailed understanding of BNS and SCUSA FICC businesses, including personnel, operations, and systems, to analyze and evaluate compliance risk. The FICC Compliance Officer must have a strong work ethic, be highly motivated, and proactive in performing their responsibilities.

Education / Work Experience / Other Information

• A minimum of 5-7 years of compliance experience, including experience providing advisory support to a US fixed income sales and trading operation.
• Knowledge of Treasury best practices and regulations, Government Securities Dealer requirements, and SEC and FINRA rules and guidance on fixed income cash and OTC derivatives trading, including requirements for markups, markdowns, best execution, and TRACE trade reporting.
• Experience developing policies and procedures, providing compliance training, conducting compliance risk assessments, responding to regulatory inquiries, etc.
• Strong analytical and investigative skills and demonstrated ability to operate at a strategic level.
• Able to coordinate across multiple management levels, jurisdictions, business lines and support functions to drive results.
• Able to operate with minimal direction, deliver work product of the appropriate quality, set goals