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 underpin everything that we do at CLS and define our working environment:

Pivotal purpose
Trusted guardian
Targeted innovation
Facilitate connections
Delivering excellence
Inclusive culture

Job Information:

Functional Title: Assistant Vice President
Department: Compliance Risk Management
Corporate Level: Assistant Vice President
Reports To: Lezlie McKenzie, Director, Compliance Monitoring and Testing
Location: HXO, MPO

The Compliance Monitoring & Testing team sits within the second line of defence in Compliance Risk Management.

The Assistant Vice President (“AVP”) of Compliance Monitoring & Testing plays a critical role with the second line of defence and will provide leadership, expertise and structure to support the ongoing maturation of the Compliance Program and the continuous improvement to enhance the proactive oversight of compliance risk..

The AVP will be required to stay abreast of developments on regulatory requirements and best practices to ensure the monitoring and testing framework remains fit for purpose and that controls gaps are identified to ensure effective compliance risk management.

What you will be doing:

Ability to write Compliance Testing reports clearly and concisely that require little to no oversight or rewrite
Manages stakeholder engagement independently.
Ability to independently scope a review after reviewing related regulations, the related CRA as well as conversations with Advisory Compliance
Takes initiative for next steps with limited instruction
Has enough experience with Compliance Testing to propose solutions to make the team’s processes (and related documents like templates) more efficient
Works independently (with limited direct authority) to assess and identify gaps and influence outcome
Takes ownership and accountability for deliverable timelines and work quality
Maintains relationships and networks and engage with senior stakeholders across the firm to advise on key areas of expertise that support the mitigation of compliance risk
Adapts communication style to differing audiences to support and drive cross functional collaboration
Has judgement-based decision making in areas of elevated compliance risk and adapt policies and procedures

What we are looking for:

Ability to write Compliance Testing reports clearly and concisely that require little to no oversight or rewrite
Manages stakeholder engagement independently.
Ability to independently scope a review after reviewing related regulations, the related CRA as well as conversations with Advisory Compliance
Takes initiative for next steps with limited instruction
Has enough experience with Compliance Testing to propose solutions to make the team’s processes (and related documents like templates) more efficient
Works independently (with limited direct authority) to assess and identify gaps and influence outcome
Takes ownership and accountability for deliverable timelines and work quality
Maintains relationships and networks and engage with senior stakeholders across the firm to advise on key areas of expertise that support the mitigation of compliance risk
Adapts communication style to differing audiences to support and drive cross functional collaboration
Has judgement-based decision making in areas of elevated compliance risk and adapt policies and procedures
Minimum bachelor’s degree; Postgraduate degree (e.g., JD, MBA) or compliance / testing / audit certifications a plus
3-5 years’ experience of compliance testing / monitoring / auditing / risk management; Regulatory experience a plus
Strong analytic capabilities; excellent communications skills to influence stakeholders
Ability to work independently (with limited direct authority) to assess and identify gaps and influence outcomes
Ability to take initiative for next steps with limited instruction
Advanced proficiency in Microsoft Office (i.e., Word, Excel, PowerPoint) and SharePoint required. Familiarity with Governance, Risk & Compliance (GRC) tools (e.g., Archer) a plus
Proficiency in regulatory requirements e.g. Prudential, BSA/AML, Privacy
Knowledge of a Financial Market Utility regulatory environment, key legislative requirements and practical implications would be beneficial
Experience in executing testing plans
Familiarity with corporate compliance programs and standards relative to Federal Reserve SR 08-8 would be beneficial

Our commitment to employees:

At CLS, we celebrate inclusion 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.
Employee Networks (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 inclusivity.
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.

Assistant Vice President, Compliance Monitoring and Testing

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