Director, Regulatory Change Management

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 – Protect, Improve, Grow – underpin everything that we do at CLS and define and shape a supportive and inclusive working environment in which everyone is encouraged to be open and forward-thinking.

What you will be doing:

• Lead and drive an inclusive customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
• Develop and maintain a comprehensive regulatory change management (horizon scanning) framework for identifying legal and regulatory developments that may impact the firm’s operations and coordinating change management processes to address such developments. 
• Develop and maintain robust and comprehensive processes and procedure documents for identifying and tracking legal and regulatory requirements/obligations assessed to be applicable to the Bank’s operations; and tracking changes to such requirements/ obligations and policies and procedures arising from new or amended laws/regulations or changes in business activities.
• Oversee the processes supporting the timeliness, completeness and accuracy of the Bank’s regulatory inventory of legal and regulatory requirements/obligations.
• Oversee the completion of the annual risk assessment exercise on a timely basis. Prepare clear reporting of results with actionable recommendations.

What we’re looking for:

• Proven track record in developing practical compliance solutions developed by working with the business, solving problems by understanding the issues, developing ideas and taking accountability to act on them, and incorporating the appropriate effective challenge to ensure an effective second line regulatory change management program.
• Proven track record in building solid relationships with stakeholders to achieve workable solutions that support the business in managing risk aligned to safety and soundness expectations.
• Experienced in writing clear annual compliance risk assessment reports.
• Strong understanding of industry practices and disciplines ideally having implemented and/or developed second line regulatory change management frameworks in the past.
• Excellent written and verbal communication and stakeholder management skills with all levels of the organization.
• Given interactions with senior and critical internal / external stakeholders (e.g., regulators, auditors), has strong engagement, influencing and negotiating skills.
• Experience with developing and managing a multi-disciplinary team of professional staff.
• Proficient in investigative and analytical thinking.
• Superior ability to effectively represent the organization through building collaborative relationships.
• Ability to lead and motivate teams with diverse skill sets to deliver sustained high performance.
• Ability to convert high level strategy and goals into operational plans.
• Strong control and risk management mindset.

Preferred skills / experience:

• Experience in developing and overseeing a regulatory change management program and/or compliance risk assessment would be beneficial.
• Knowledge of a financial market utility or FMU regulatory environment, key legislative requirements and practical implications would be beneficial.
• Experience interfacing with regulators would be beneficial.
• Familiarity with legal/regulatory requirement mapping practices and writing compliance policies & procedures would be beneficial.
• Familiarity with corporate compliance programs and standards relative to Federal Reserve SR 08-8 would be beneficial.

Professional qualifications / certifications:

• Minimum bachelor’s degree. Postgraduate degree (e.g., JD, MBA) or compliance / audit certif