Director, Regulatory Change Management

About CLS:

CLS is the trusted party at the centre of the global FX ecosystem. Utilized by thousands of counterparties, CLS makes FX safer, smoother and more cost effective. Trillions of dollars' worth of currency flows through our systems each day.

Created by the market for the market, our unrivalled global settlement infrastructure reduces systemic risk and provides standardization for participants in many of the world's most actively traded currencies. We deliver huge efficiencies and savings for our clients: in fact, our approach to multilateral netting shrinks funding requirements by over 96% on average, so clients can put their capital and resources to better use.

CLS products are designed to enable clients to manage risk most effectively across the full FX lifecycle - whether through more efficient processing tools or market intelligence derived from the largest single source of FX executed data available to the market.

Our ambition to make a positive difference starts with our people. Our values - Protect, Improve, Grow - underpin everything that we do at CLS and define and shape a supportive and inclusive working environment in which everyone is encouraged to be open and forward-thinking.

What you will be doing:

• Lead and drive an inclusive customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Develop and maintain a comprehensive regulatory change management (horizon scanning) framework for identifying legal and regulatory developments that may impact the firm's operations and coordinating change management processes to address such developments.
• Develop and maintain robust and comprehensive processes and procedure documents for identifying and tracking legal and regulatory requirements/obligations assessed to be applicable to the Bank's operations; and tracking changes to such requirements/ obligations and policies and procedures arising from new or amended laws/regulations or changes in business activities.
• Oversee the processes supporting the timeliness, completeness and accuracy of the Bank's regulatory inventory of legal and regulatory requirements/obligations.
• Oversee the completion of the annual risk assessment exercise on a timely basis. Prepare clear reporting of results with actionable recommendations.

What we're looking for:

• Proven track record in developing practical compliance solutions developed by working with the business, solving problems by understanding the issues, developing ideas and taking accountability to act on them, and incorporating the appropriate effective challenge to ensure an effective second line regulatory change management program.
• Proven track record in building solid relationships with stakeholders to achieve workable solutions that support the business in managing risk aligned to safety and soundness expectations.
• Experienced in writing clear annual compliance risk assessment reports.
• Strong understanding of industry practices and disciplines ideally having implemented and/or developed second line regulatory change management frameworks in the past.
• Excellent written and verbal communication and stakeholder management skills with all levels of the organization.
• Given interactions with senior and critical internal / external stakeholders (e.g., regulators, auditors), has strong engagement, influencing and negotiating skills.
• Experience with developing and managing a multi-disciplinary team of professional staff.
• Proficient in investigative and analytical thinking.
• Superior ability to effectively represent the organization through building collaborative relationships.
• Ability to lead and motivate teams with diverse skill sets to deliver sustained high performance.
• Ability to convert high level strategy and goals into operational plans.
• Strong control and risk management mindset.

Preferred skills / experience:

• Experience in developing and overseeing a regulatory change management program and/or compliance risk assessment would be beneficial.
• Knowledge of a financial market utility or FMU regulatory environment, key legislative requirements and practical implications would be beneficial.
• Experience interfacing with regulators would be beneficial.
• Familiarity with legal/regulatory requirement mapping practices and writing compliance policies & procedures would be beneficial.
• Familiarity with corporate compliance programs and standards relative to Federal Reserve SR 08-8 would be beneficial.

Professional qualifications / certifications:

• Minimum bachelor's degree. Postgraduate degree (e.g., JD, MBA) or compliance / audit certifications would be beneficial.
• Experience in overseeing the management of a compliance risk assessment program with 5-7 years' management experience.
• Solid understanding of the critical elements of an effective compliance program.
• Advanced proficiency in Microsoft Office 365 (i.e., Word, Excel, PowerPoint) and SharePoint required. Familiarity with Governance, Risk & Compliance (GRC) tools (e.g., Archer) would be beneficial.

Expected full-time salary range between $170,000 - $210,000 + variable compensation + 401(k) match + benefits.*Note: Disclosure as required by NY Pay Transparency Law of the expected salary compensation range for this role
#LI-DK1

Our commitment to employees:

At CLS, we celebrate diversity and consider this to be one of our strongest assets. We are committed to fostering an environment in which everyone feels comfortable to be who they are, and inclusion is valued. All employees have access to our inclusive benefits, including:

• Holiday - UK/Asia: 25 holiday days and 3 'life days' (in addition to bank holidays). US: 23 holiday days.
• 2 paid volunteer days so that you can actively support causes within your community that are important to you.
• Generous parental leave policies to ensure you can enjoy valuable time with your family.
• Parental transition coaching programmes and support services.
• Wellbeing and mental health support resources to ensure you are looking after yourself, and able to support others.
• Affinity Groups (including our Women's Forum, Black Employee Network and Pride Network) in support of our organisational commitment to embrace and always be learning more about DE&I.
• Hybrid working to promote a healthy work/life balance, enabling employees to work collaboratively in the office when needed and work from home when they don't.
• Active support of flexible working for all employees where possible.
• Monthly 'Heads Down Days' with no meetings across the whole company.
• Generous non-contributory pension provision for UK/Asia employees, and 401K match from CLS for US employees.
• Private medical insurance and dental coverage.
• Social events that give you opportunities to meet new people and broaden your network across the organisation.
• Annual flu vaccinations.
• Discounts and savings and cashback across a wide range of categories including health and retail for UK employees.
• Discounted Gym membership - Complete Body Gym Discount/Sweat equity program for US employees.
• All employees have access to Discover - our comprehensive learning platform with 1000+ courses from LinkedIn Learning.
• Access to frequent development sessions on a number of topics to help you be successful and develop your career at CLS.