Prime Brokerage Compliance Manager- Vice President


Position Description:
State Street Markets Compliance is seeking an experienced compliance professional to assist the Chief Compliance Officers (CCOs) to satisfy their regulatory obligations for prime brokerage and security-based swap dealer activities. The role must maintain and apply current knowledge of FINRA, NYSE, SEC, CFTC, and NFA rules and regulations. The position is responsible for supporting the business teams in the implementation of all required policies and assist with the compliance oversight of the Broker-Dealer’s prime brokerage activities and Swap Dealer’s security-based swap activities.

This role will support the build out of prime brokerage capabilities conducted out of SSGM, LLC, a registered Broker-Dealer along with security-based swap activities conducted out State Street Bank and Trust. The Prime Brokerage Compliance Officer will advise internal stakeholders on implementation and development of SEC, FINRA, prime brokerage requirements, including leading the development of relevant compliance program elements including policies and procedures, training, risk assessments, issues management, governance and management reporting, and assisting in the remediation of noncompliance matters. In addition, knowledge of SEC security-based swap dealer regulations is preferred as this role will assist with compliance support of the SBSD Compliance framework and structure.

The candidate should have experience with:

• Domestic and International Institutional and Accounts
• Specialized compliance knowledge required for prime brokers offering services such as securities lending, margin accounts and applicable risks.
• Establishing and maintaining compliance policies, procedures, and controls based on regulations and in accordance with requirements and process flows.
• Providing compliance advisory support to business and operations as a subject matter expert.
• Strong knowledge of financial services products, markets, laws, rules and regulations relevant to Margin, Equities, Fixed Income, OTC derivatives, Equity Derivatives, swaps, Interest rate swaps, futures and options

Responsibilities include:

The Prime Brokerage Compliance Officer's responsibilities include serving as a compliance expert for prime brokerage and security-based swaps, understanding business processes and risks. They will establish and maintain compliance policies, procedures, and controls based on regulations such as SEC, FINRA, CFTC, and NFA.

Implement and enhance the Compliance Oversight Program in alignment with division methodology addressing all relevant risks and corporate and local requirements.

Proactively engage with First Line of Defense, control functions (Risk, Legal, Audit and IT) and participate in and provide management oversight on the development of the Compliance Oversight Program in response to changes in regulatory obligations and industry standards and best practices.

Provide advice to firm’s Registered Representatives regarding applicable securities rules, regulations and firm policies.

Demonstrate excellent communication skills, both oral and written. Should have the ability and experience to draft clear and professional correspondence, policies and procedures and other documents of both legal and business nature.

Work with Chief Compliance Officers to ensure appropriate support as needed for any regulatory matters revolving around the firm's activities by compiling data and drafting responses.

Staying abreast of relevant changes to rules/regulations and other industry news including regulatory findings.

Candidate Requirements:

• Bachelors Degree or Higher Required.
• Series 7 and 24 qualifications required (or the ability to retain within 6 months of hire)
  Minimum of 5 years’ experience in compliance, legal, risk control, or audit, specifically in Prime

Brokerage or similar financial services areas

• Ability to understand the compliance issues involved with the State Street Markets Business, prime brokerage, and security-based swap regulation
• Strong knowledge of FINRA, SEC, NFA and CFTC rules and regulations
• Have an in-depth understanding of evaluating risk and compliance initiatives and determining regulatory compliance risks at a global financial institution
• Analytical/detail-oriented mindset and a good sense of judgment
• Experience managing regulatory exams and relationships
• Self-motivated and able to prioritize workflow and work independently
• Knowledge of rules and regulations pertaining to banks or bank holding companies participating in capital markets
• Proficiency in Excel, PowerPoint, and Microsoft Office

Salary Range:

The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.

Job Application Disclosure:

It is unlawful in Massachusetts to require or administer a lie detector test as a condition of employment or continued employment. An employer who violates this law shall be subject to criminal penalties and civil liability.