Job
Description
Overview: This is a dual-purpose role, and the holder will be responsible for the following tasks: 1. Regulatory horizon scanning; 2. Assisting with the second level oversight of the Firms regulatory reporting and MIFID II / MIFIR deliverables. Headquartered in London and New York, BGC Partners (NASDAQ: BGCP) provides a wide range of services including trade execution, broker-dealer services, clearing, processing, information, and other back-office services. The role is critical in supporting BGCs awareness of, and compliance with current, new, and changing financial servicess regulation. The Regulatory Compliance BA function will form part of the Central Compliance Team at BGC and will be responsible for assessing rules and regulations released by the UK and EU regulators to maintain awareness of relevant regulatory developments. The function will cover the UK and EU regulation and will be reporting into the Trading Venue Control Manager. The function will provide a bulletin of all changes in relevant rules and regulations that are applicable to the Business and will help the Business aligned Technology and Operations Departments to translate the regulatory requirements into business requirements. Activities will consist of the assessment of regulatory alerts received from Regulators and Industry Bodies, and determination of whether these are applicable to any of the Firms business lines. Given the Firms complex and broad business coverage, the holder of this role will have exposure to multiple business lines as well as multiple jurisdictions. The Firm is looking for someone who understands and is interested in regulation, assessing impact of regulatory changes, and liaising with multiple stakeholders and team members to help implement solutions globally. The role will require someone with strong attention to detail that has good interpersonal and analytical skills to take ownership of this role. Main Purpose of the Role: Maintaining and providing our management group and business with a forward-looking view of the regulatory landscape and reporting on new and changing rules as they may apply to BGC. Preforming the horizon scanning for regulatory developments that could affect the Firm. Interpreting regulatory announcements and assessing the impact of these changes for our business. This will include Regulatory Consultations, Final Reports, Guidelines, and upcoming changes to the existing regulations that are set out in the ESMA Journal and/or FSMA and the FCA Handbook. Undertaking formal impact analysis and gap analysis reviews for specific rule changes, and develop recommendations and actions plans for the business lines that may be affected by the changes. Summarising the upcoming changes in a report, performing an impact assessment, and informing the stakeholders of those changes and implementation dates. Articulating the relevant changes to the Trade and Transaction Reporting BAs and Regulatory Technology BAs so that the regulatory requirements can be translated into business requirements and technical specifications. Providing close oversight and ongoing input to regulatory change projects. Key Responsibilities: Ongoing monitoring of the regulatory developments in the UK and EU and attending the relevant Industry Forums / Discussions. Key areas of focus will include compliance and assurance review of MIFID II, MIFIR, EMIR Refit, SFTR, REMIT, MAR, GDPR. Informing the relevant stakeholders of the upcoming applicable regulatory changes affecting the Firm in a timely manner. Support colleagues in other departments to ensure that a timely and accurate assessment of the developments is made in advance of the compliance date. Facilitate the implementation of required changes to current policies, procedures, systems and controls, and advise on new regulations. Producing the regulatory requirements documentation to the BAs from Regulatory Reporting and Technology teams. Supporting the assessment by Compliance of forthcoming regulatory developments, and the creation of associated Management Information. Providing the Second Line of Defence oversight and quality assurance of the Firms regulatory Trade and Transaction Reporting processes. Further enhancing processes, policies and procedures owned by UK Compliance to make sure regional processes and procedures align to the global model and are fit for purpose. Assisting the Trading Venue Control function with any other relevant regulatory initiatives periodic, ad-hoc or otherwise as directed by management. Skills: An aptitude for learning and remaining current on industry rules, regulations and best practices, including having an interest in how innovations in technology can make processes more efficient. At least 5 years Regulatory/Compliance experience, or project/regulatory change management experience, working in a large corporate environment (Any previous legal training is an advantage). Experience in understanding new financial services laws and regulations and assessing their impact and relevance to the different businesses in more than one jurisdiction. Experience of MiFID II implementation within a regulated financial services firm. Experience in working on ad hoc, multi-disciplinary projects across complex organisations. Working knowledge and practical understanding of the Key financial services regulations that are applicable to UK/EU MIFID Investment Firms and Trading Venues. Understanding of the regulators approach to implementing new regulations and changes to existing regulations (both UK and EU). Awareness of the divergence between the UK and EU regulatory regime due to Brexit and resulting implications of the US CFTC SEF regulatory regime for certain products. Ability to write clear and concise Reports and Business Requirement Documentation (BRD). Understanding of a full end-to-end transaction lifecycle for different financial products, trading protocols and financial instruments. The ability to identify regulatory requirements, analyse market and regulatory data, and present findings. Experience of a trading environment, with an understanding of the general activities and functions of a brokerage firm and trading venue operator. Excellent PC skills including Word, PowerPoint, Excel/CSV (Data management skills will be seen as an advantage). Personal attributes: Excellent attention to detail and good organisational, numeric and time management skills. Good analytical skills and the ability to produce timely and accurate reports for different audiences. Ability to work autonomously or as part of a team in a dynamic environment. Ability to communicate information in a timely and clear manner. Ability to listen to, influence and support team members to deliver their goals. A collaborative approach to challenging the work product of others.
