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Regulatory regimes imply material changes in our internal ways of working and in the relations with clients, due to the extent of the scope at stake.
Multiple regulations across the globe: Europe (such as EMIR), U.S. (such as Dodd Frank Act, FATCA) and several jurisdictions in Asia Pacific (e.g. in Hong Kong)
Various and heterogeneous requirements such as timely confirmation, trade reporting, mandatory clearing / margining, distribution to Equity Research to Major US Institutional Investors only
All types of clients (Institutional, Corporates, Central Banks, Hedge Funds) impacted
All entities (such as non-European subsidiaries) must comply with their own obligations
Tax legislations (such as the Hire Act in the US or the CRS standards committed by OECD countries) are on the agenda and require an extensive client classification exercise along with a potential regulatory procedural obligation.
All those regulatory requirements bring about an intensive client communication to (i) informing & educating our clients on regulations our Client is subject to, (ii) undertaking procedural exercises, when needed, to comply with our regulatory obligations and (iii) informing the clients about the impacts on our business relationship with them should our Client fail to comply with its own obligation.
An intensive internal coordination is also required to educate the Business representatives (Global Market and Coverage) about the regulatory framework, the impacts on their clients and the relevant contingency action plan.
The Client Management Regulations APAC team is also closely collaborating with other functions looking after regulatory affairs such as Legal, Compliance, Project Management, IT, Finance, Due Diligence and both Global Market Regulatory Affairs and Global Market Business Management.
The team is client facing, responsible for client communication related to regulatory changes resulting from MIFID 2, EMIR (European Market Infrastructure Regulation), the Dodd-Frank Act in the US, other OTC derivatives regulatory regimes (including those pursuant to HKMA and MAS rules), tax-related legislations (e.g. FATCA and AEOI [Automatic Exchange of Information]), Equity Research enablement, among others. All of this needs to be addressed diligently due to the very important stakes; indeed, not being compliant in due time could result trading disruption, loss in firm's reputation and regulatory breach.
Regulatory Onboarding and Support
Facilitating and follow up with client onboarding
Tackling regulatory blocks that prevent trading
Addressing queries from clients, traders, marketers and relationship managers
Regulatory Remediation Exercises
Ensuring our existing clients comply by the regulatory enforcement date
To achieve Regulatory Onboarding and Regulatory Remediation Exercises, the Client Management Regulations team aims at:
Preparing the necessary regulatory materials to dispatch to clients
Offers and positions (i.e. encourage signature of ISDA protocols)
Remediating any pending items necessary to meet regulatory requirements by their compliance dates and minimize any trading disruption with our valued clients
Reaching out to our clients to ensure they have completed the necessary documentation:
Following counterparties adherence to ISDA protocols / Representation Letters
For clients who did not sign the ISDA protocol, pushing on bespoke legal documentation
Addressing potential requests from regulators
Working with the different functions involved in this regulatory compliance effort (such as Business Management, Legal and UK & US counterparts)
Anticipating the new rules / change of rules to come (Regulatory Oversight)
Contributing to the Permanent Control Framework, alignment of procedures across the regions, and Global Compliance Status update and KPIs
Degree in Finance, Business or Mathematics; post-graduate degree in Business or Finance a plus
At least 1 - 2 years in finance or banking related industry preferred, but open to those with regulatory tax advisory or legal background
Experience in project management with strong communication skills
Fluent in English, written & verbal. Mandarin and/or French, would be beneficial
Knowledge related to OTC derivatives regulations and/or tax legislations, a plus
Strong interpersonal skills to communicate with external clients
Excellent analytical and problem solving skills
About Our Client
Our client is a prestigious international bank with a long history of providing corporate banking solutions to businesses and to large local companies, financial institutions and multinationals. We look for talented, tenacious individuals who are hungry to progress and eager to grow their knowledge.
Values and Diversity
Dynamic working gives everyone at our client the opportunity to integrate professional and personal lives, if you have a need for flexibility then please discuss this with the hiring manager. They are an equal opportunity employer and are opposed to discrimination on any grounds. It is the policy of our client to ensure equal employment opportunity without discrimination or harassment on the basis of race, colour, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, disability, veteran status, genetic information, or any other basis protected by law.