Consultant, Compliance Risk Management, Compliance Testing

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 - Consultant
• Department – Compliance Risk Management
• Corporate level - Consultant
• Report to – Lezlie McKenzie, Director, Compliance Monitoring and Testing
• Location – Iselin, NJ
• Base pay / salary (NY/NJ) - $800-1080/day  

What you will be doing:

• Assist the Director of Monitoring in Testing with reporting related to the Compliance Testing Plan and its results
• Work independently with Director oversight to conduct and deliver Compliance Testing reviews on the plan in a timely manner and with an appropriate standard of quality
• Assist the team in tracking and validating corrective action plans
• Work across departments to develop a monitoring inventory and monitoring standards, identifying gaps and creating project plans where needed
• Apply practical, proportionate and sustainable remediation to compliance risk and conduct issues identified in the course of monitoring and testing.
• Assess optimal technology solutions for conducting testing reviews, creating the monitoring inventory, and implementing monitoring standards.

What we’re looking for:

• Proficient in writing clear, concise testing reports.
• Understanding of industry practices and disciplines ideally having implemented and/or developed second line compliance monitoring and testing frameworks in the past.
• Excellent written and verbal communication and stakeholder management skills at all levels of the organization.
• Proficient engagement, influencing and negotiating skills.
• Proficient in investigative and analytical thinking.
• Ability to convert high level strategy and goals into operational plans.
• Strong control and risk management mindset

Professional qualifications / certifications

• Minimum bachelor’s degree. Postgraduate degree (e.g., JD, MBA) or compliance / testing / audit certifications a plus.
• 5-7 years experience of compliance testing / monitoring / auditing / risk management. Regulatory experience a plus.
• 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
• 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.
• Experience in executing annual monitoring and 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