Senior Vice President - Regional Head of Regulatory Compliance
Description
Position: Senior Vice President - Regional Head of Regulatory Compliance – Americas and Caribbean
Location: Cayman Islands
About Us
The Maples Group is a global leader in financial services, trusted by many of the world’s largest hedge fund managers, private equity firms, and international corporations.
Our side-by-side financial and legal teams consistently deliver award-winning services to a global client base, offering unrivalled learning and career opportunities to our 2,500 colleagues worldwide.
What’s it like to work here?
We are driven to excel, and collaboration is key to our continued success. We can go further for our clients because we go further for each other too. Our inclusive culture creates an environment where people can be themselves at work while doing their best work. No matter where you work in the Maples Group, you will be part of a global team.
The Opportunity / Who We Seek
We are looking for an accomplished Senior Vice President - Regional Head of Regulatory Compliance to join our Compliance team as part of our financial services business in the Cayman Islands to cover the Americas and Caribbean region. This comprises the Cayman Islands, Bermuda, Boston, British Virgin Islands, Delaware and Montreal.
The Cayman Islands is home to our global headquarters and where the Maples Group first established operations in the 1960s. Since then, we have grown to become one of the largest employers in Cayman, where colleagues from all over the world collaborate to deliver best-in-class solutions to clients worldwide. Responsibilities will include, but are not limited to, the following:
Regulatory Reporting and Inspections
- assuming responsibility for the coordination, review and timely delivery of all information (filings, reporting) required to be provided to relevant regulatory bodies;
- assuming the coordination role to assist the relevant businesses in preparing for onsite inspections of relevant MaplesFS entities across the Americas and Caribbean and being the primary point of contact during such inspections. This will include the collation, review and timely delivery of all requested information; tracking of matters arising, drafting of management responses, and timely closure of issues identified;
- acting as the primary point of contact on an ongoing basis with all relevant regulatory bodies that MaplesFS is overseen by in the Americas and Caribbean region.
Policies and Procedures
- ensuring that the relevant frameworks, policies and procedures terms of reference, risk assessments, etc., are in place for each office and/or business division and that all statutory regulatory obligations are covered appropriately by such documentation(working closely with senior management, business leads, and other Compliance leads to affect such);
- recommending changes and working with interested parties including the drafting and implementation of new frameworks, risk assessment, and policies and procedures;
- continuously monitor and review all applicable regulatory policies, rules, codes, guidance, statements, etc., published by the relevant regulatory bodies across the Americas and Caribbean to ensure all frameworks, policies and procedures are aligned with applicable regulations and legislation;
- develop and deliver training on material changes;
- ensure appropriate approvals are in place for material changes or new policies.
Regulatory compliance
- responsibility for leadership of the MaplesFS Group's Risk Assurance function, dedicated to the performance and delivery of the Group's compliance monitoring programme;
- ensuring that appropriate code mapping against all applicable financial crime and regulatory compliance is in place, and ensuring that regulatory/statutory reporting matrices are in place for all MaplesFS group entities and they are reviewed and updated on an annual basis (or as required);
- reviewing the board composition and corporate governance framework documents of all MaplesFS entities and ensuring compliance with all applicable regulatory frameworks, policies, guidance notes, statements etc;
- responsibility for internal systems that record and track Maples group entity regulatory filings and regulatory compliance obligations, ensuring that all filings are properly submitted to the relevant regulatory and recorded (in line with the matrices), that all regulatory compliance obligations are adhered to, and that responsible parties within the group are monitoring and updating the system;
- in conjunction with relevant members of the global compliance team, examining and assessing compliance policies and procedures, including Financial Crime[1]and prudential regulatory compliance;
- in conjunction with relevant members of the global compliance team, ensuring frameworks, policies and procedures are updated to take into account changes to local laws and regulations with regard to Financial Crime, corporate governance, outsourcing, market conduct, internal controls and other regulatory compliance requirements;
- ensure appropriate fitness and properness standards for Key Persons, in line with group standards, is in place;
- ensure Risk Assurance processes are adequate and effective to identify gaps in policies and procedures from a testing and monitoring perspective;
- liaise with internal and external auditors on matters arising;
- proven experience and understanding of outsourcing;
- regular attendance at senior management and board meetings to present on all aspects of regulatory and Financial Crime compliance matters.
Financial Crime
- you must have prior experience of having received a no objection or equivalent to a fit and proper assessment by a regulator as this role includes the requirement to be the nominated Anti-Money Laundering Compliance Officer for a number of regulated entities;
- you must have demonstrable prior experience in such a senior role;
- receive and consider internal suspicious activity reports (iSARs), in the absence of the Money Laundering Reporting Officer, and drafts and submits suspicious activity reports (SARs) to relevant authorities, as warranted;
- ensure that all businesses have a clear understanding of their obligations under Financial Crime legislation and regulation such that all activities undertaken by authorised firms remains fully compliant with regulatory expectations;
Regulatory advice, training and escalations
- provide input to business and support functions from a regulatory perspective for complex and/or unclear situations
- acts as an escalation point for financial crime and prudential compliance issues
- contributes to and delivers regulatory compliance training to business
Risk including Due diligence questionnaires
- it is advantageous to have had experience working with other Risk functions such as operational risk, or with risk projects that enhance the required controls needed to facilitate compliance and Financial Crime;
- working closing with the CRO, Group General Counsel and members of IT to participate in the completion of information security, compliance, governance and other types of client DDQs where there is a need for contribution from the regulatory compliance function.
What You Bring
In addition to indisputably high ethical standards and autonomy, the ideal candidate possesses the following:
- a university graduate (with a qualification in a relevant area) with an excellent academic background and a minimum of 12 years relevant experience in senior positions within the financial services industry, in a regulatory, risk or compliance role or equivalent role with proven international experience (Cayman, BVI, Bermuda, US and Canada as a minimum);;
experience working effectively and collaboratively across multiple jurisdictions, strong risk awareness, and the ability to credibly manage and influence multiple stakeholders at senior levels across the group on a team basis;
- experience of managing multiple teams;
- demonstrable knowledge and understanding of the regulatory frameworks of the jurisdictions this role is responsible for;
- a recognised Compliance or Financial Crime qualification or other risk-related post-graduate qualification is advantageous.
Competencies
MaplesFS applies a competency framework to all roles. Our expectations of this role are:
Behavioural Areas – all at an advanced level: Leadership – inspire purpose and direction; set Maples' strategic direction; Relationships – influence and negotiate; teamwork; effective communication.
Professional Areas – at an advanced level: manage and develop people;, plan workload and manage resources.
Professional Areas – at a highly advanced level: practice compliance and audit; monitor and report.
Technical & Specialist areas – at a highly advanced level – technical and specialist knowledge; at an advanced level: Maples knowledge and client, partner and supplier knowledge.
You can learn more about the Maples Group on our corporate website. Experience our culture and our people on our Careers Page or on LinkedIn.
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