Location Address: Toronto
Contract Duration: 6 months (Possibility for extension or Convert to FTE)
Project: The primary role of the Compliance Analyst is to function as a UAT analyst (process, not technical) for the implementation of a new electronic Trade Surveillance system. The system focuses exclusively on Market Abuse and Best Execution across the product categories of Foreign Exchange, Fixed income, OTC derivatives, and Commodities. The incumbent is required to have strong market knowledge of some, or all, of these markets in order to be able to evaluate the system’s ability to properly surveil activity within these over the counter markets. Alternatively, or inclusively, specific experience in trade surveillance in the context of market abuse and best execution would be considered a strong asset. The second function of this role is to provide support to the BAU team in the ongoing use of the system as it evolves from UAT to BAU. This may include, but is not limited to, reviewing alerts generated in production mode. The incumbent will be expected to assist the team in regular T+3 trade supervision activities as required.
Candidate Value Proposition
The successful candidate will not only have the opportunity to gain valuable experience at a top 5 Canadian bank, but also get exposure to some of the banks new systems and delivery of a key initiative.
Typical Day in Role
– Apply knowledge of front office trading activities and characteristics to the evaluation of the electronic surveillance systems alerts. Do the generated alerts make sense in the context of the markets being reviewed?
– Participate in discussions with the vender as well as the project team to ensure that the system is providing valid outputs.
– Perform ongoing UAT testing across the required products and provide commentary as to problems, issues and potential enhancements. This will be done in a team focused environment.
– Learn how to understand and operate the Surveillance system, the source systems required to adjudicate alerts and any other systems necessary to provide functional evaluations of the system being evaluated
– Work with the BAU team to pass along observations and tips derived from UAT testing
– Learn what the BAU team does and, as required, assist in BAU when not assigned to specific UAT activities
– Assist the BAU team by passing along specific market knowledge that the incumbent may bring
– The incumbent handles sensitive and confidential information and must have a high level of integrity.
– The incumbent is expected to act independently and arrive at conclusions or recommendations based on the exercise of good judgement on moderately complex decisions falling within standard policies and escalate matters beyond existing policies. Effectively performing this role involves consulting with the team and others as required.
– The incumbent is expected to interact on an ongoing basis with senior professional staff, generally on time sensitive items. The incumbent is required to respond with tact while ensuring compliance priorities and requirements are met.
– The incumbent is expected to apply regulatory requirements and policy guidance with minimal supervision, provide advice to senior professional staff in the various business units, and identify, investigate and escalate any exception conditions to management. Functions must be performed accurately and reliably as errors or delays can have serious adverse regulatory implications.
Candidate Requirements/Must Have Skills:
1) 5+ years of related trading, monitoring or surveillance experience at a financial institution and/or regulated securities dealer
2) 5+ years of experience in foreign exchange, fixed income, commodities and/or OTC derivatives trading markets , including knowledge of hedging and other trading strategies
3) 3+ years of experience dealing with Industry Regulatory Organization of Canada (IIROC) dealer rules and UMIR, as well as a general understanding of Canadian provincial securities legislation
– Bilingual Spanish / English is preferred but not required
– Technical UAT testing would be preferred but not required
– Able to work independently and with other staff across functional lines within the Bank
– The candidate must be a team player
– Excellent communications skills
– Working with technology teams as well as vendors, as well as the occasional interaction with other individuals within the bank
Degrees or certifications:
– Post-Secondary education and/or professional designations
– Canadian Securities Course, Conduct and Practices Handbook Course, and/or the Trader Training Course are helpful