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Senior Compliance Officer for Swap Dealer & Wholesale Compliance at Nomura in Frankfurt.
Lead 2nd line testing, regulatory reporting, and CFTC compliance across NFPE’s global markets.
Company overview
Nomura is an Asia-based financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com
Nomura Financial Products Europe GmbH (NFPE) is the Brexit entity of Nomura, headquartered in Frankfurt/Germany. NFPE offers the full range of Nomura products and services to clients based in Europe. The role will be in the Wholesale Compliance team mainly covering Swap Dealer Compliance with involvement in all aspects of the team’s work but with a primary focus on 2nd line testing NFPE’s controls, Swap Dealer related Outsourcing Supervision and compliance with CFTC Swap Dealer regulations and requirements.
Tasks/Responsibilities:
- Ensure that rules and regulations applicable to NFPE as a CFTC registrant and NFA member remain considered and overseen from a 2nd line of defense point of view.
- Support interactions with CFTC and NFA;
- Maintain Swap Dealer (SD) governance framework for the Head of Compliance and for the Management Board
- Ensure proper Outsourcing Supervision under AT9 MaRisk of outsourced processes and controls performed by other Nomura entities including KPI; Controls, annual risk assessment and controls
- Provide Compliance support and guidance for the supervisory regime in place for the corporate functions
- Track and advise on US OTC derivatives regulatory change, feeding into the MaRisk Compliance function of NFPE;
- Maintain SD Compliance policies and procedures;
- Support the design and delivery of US regulatory training for staff;
- Support US registration obligations;
- Oversee and provide advice on US regulatory reporting and filing requirements;
- Respond to US regulatory inquiries and examinations;
- Track identified issues of non-compliance and produce appropriate management information;
- Assist with the compilation and filing of the NFPE SD annual reports and various other Compliance managed filings.
- Managing the day-to-day operations of the NFPE compliance program, conducting periodic compliance reviews and providing reports;
- Providing compliance advisory services to NFPE front office and infrastructure departments and the management board
- Establishing and enhancing the risk analysis, and control framework for the compliance function
- Proactive support of business units by identifying, reporting and managing of regulatory and marketing risks in order to protect NFPE, its reputation and investors
- Liaising and coordination of compliance specific topics with branches and EMEA stakeholders
- Executing compliance monitoring and testing activities, identifying and reporting on issues and exposures. Driving closure of compliance monitoring report recommendations to resolution;
- Preparing regulatory registrations, reporting and returns to the German regulatory authority within set time frames
- Liaise with Registration and Trade Surveillance Departments of Exchanges, coordinate the completion of Due Diligence Questionnaires and other regulatory required documents
- Liaising with other division of NFPE to make sure that regulatory developments in Germany are being fully implemented, in particular:
- Independently perform gap analysis of regulatory requirements in the Compliance division in cooperation with other divisions of the firm.
- Contribute to the protection of Nomura, its reputation, regulatory risk and investors through participation in the identification, reporting and management of regulatory and marketing risks and through provision of proactive support to specific business areas.
Skills, experience, qualifications and knowledge required:
- Essential:
- Completed studies in law, economics or similar studies, professional education and relevant professional experience
- Min. 5 years of relevant professional experience
- Fluent in English and preferably in German
- Good written and verbal communication skills.
- Practical understanding of CFTC Swap Dealer Regulations as well as MiFID, German and relevant European legislation where substituted Compliance is taken. Knowledge and awareness of Title VII of the Dodd Frank Act. Knowledge of relevant FCA/PRA rules is an asset
- Experience with or experience undertaking 2nd line testing and monitoring and/or 3rd line of defence audit testing - ideally in SD and SBSD rules and requirements;
- Minimum of 3 years’ compliance and/or regulatory experience or equivalent ideally with focus on Dodd Frank SD regulations
- Strong understanding of 3LOD model and the role of Compliance within that model
- Resilient team player who can interact well with individuals within the Compliance team and others in different business divisions of various seniority
- A curious, check and challenge and continuous improvement mentality and outlook
- Communicate advice/guidance in a clear and concise manner
- Ability to work independently without need for close direction
- Well-developed analytical skills and ability to distil large quantities of complex information into high level briefings and impact analysis
- Methodical with strong attention to detail
- Ability to work well under pressure and move between tasks quickly
- Ability to project manage, in particular relating to regulatory enquiries, examinations, or change matters
- Knowledge and understanding of Global Markets businesses
- Ability to work well under pressure
- Strong organisational skills and ability to collaborate with various functional teams simultaneously
- Strong prioritisation and time management skills
- Ability to work proactively both individually and in a team, taking the responsibility to achieve results in a set timeframe
- Microsoft Office (Excel, Power Point)
Nomura competencies:
- Trusted Partner
Understand clients’ needs and issues, and respond with high-quality proposals
Acquire capabilities to perform one’s responsibilities and contribute to being a Trusted Partner - Entrepreneurial leadership
Produce new ideas that might challenge the status-quo or oneself - Teamwork
Collaboration
Seek advice from senior colleagues and utilize it for improved results
Collaborate with members from relevant departments - Influence
Contribute to the success of the organization both quantitatively and qualitatively, and act with awareness of the impact on others - Serve as role model and provide guidance to junior employees
- Integrity
Have a good understanding of corporate philosophy, professional ethics, compliance, risk management, and code of conduct, and make decisions and take actions accordingly
Diversity Statement
Nomura is committed to an employment policy of equal opportunities, and is fundamentally opposed to any less favourable treatment accorded to existing or potential members of staff on the grounds of race, creed, colour, nationality, disability, marital status, pregnancy, gender or sexual orientation.
DISCLAIMER :
This Job Description is for reference only, and whilst this is intended to be an accurate reflection of the current job, it is not necessarily an exhaustive list of all responsibilities, duties, skills, efforts, requirements or working conditions associated with the job. The management reserves the right to revise the job and may, at his or her discretion, assign or reassign duties and responsibilities to this job at any time.