Regulatory Compliance Specialist (Part-Time)

Location(s): New York, NY (Hybrid: 3 day / week in office) Role Summary Seeking an experienced Regulatory Compliance Specialist to serve as the independent second-line compliance lead for a New York branch of a European banking group. The consultant will own the local risk-based compliance plan, perform compliance testing and risk assessments, establish and monitor key risk indicators (KRIs), prepare quarterly compliance risk reporting, and oversee regulatory compliance governance. A key workstream is establishing and certifying the applicability of U.S. regulatory requirements, obligations, and exemptions to the organization's European home-market operations, including extraterritorial requirements under SEC, CFTC, BSA/AML, and OFAC frameworks. The consultant will operate independently from the first line and may use their own firm's methodology for risk assessment, testing, execution, and reporting. Business Context The New York branch supports a wholesale-only activity set that includes: Liquidity management for Group Treasury, including execution of transactions in financial instruments Financing products and trade finance Guarantees and standby letters of credit International trade finance products subsequently offered and documented in the home market Direct loans Syndicated loans Revolving credit facilities The branch does not provide cash management services, maintain client accounts, provide payments or FX services, or hold licenses to provide financial instrument services to clients. Key Responsibilities 1. Risk-Based Compliance Plan Develop and maintain an annual risk-based Compliance Plan for the branch. Perform local compliance risk assessments covering Conduct Risk and Financial Crime Risk. Assess inherent risk, evaluate control effectiveness, and determine residual risk. Use the applicable risk and control objective library as the reference framework. Document conclusions and prioritize compliance activities based on residual risk. Calibrate conclusions with Group Compliance. Update the plan when material risks emerge. Report material changes to Group Compliance. 2. Risk-Based Compliance Activities Perform in-depth second-line compliance testing of key controls. Assess both control design and operating effectiveness. Execute embedded controls where applicable. Perform or coordinate model validation where required. Review and challenge testing or validation performed by external specialists. Document testing activities, findings, severity assessments, and remediation plans. Report findings to branch and Group Compliance stakeholders. Independently assess remediation adequacy and monitor remediation progress. 3. Regulatory Screening Verify that effective processes exist for identifying and assessing U.S. regulatory requirements. Provide independent oversight of first-line regulatory screening activities. Ensure local requirements are appropriately aligned with Group-level requirements. Communicate regulatory developments, trends, emerging risks, implementation status, and gaps to Group Compliance. Independently establish and certify the full scope of U.S. regulatory requirements, obligations, and potential exemptions applicable to the Group's European home-market operations. Assess extraterritorial regulatory requirements, with particular emphasis on SEC and CFTC requirements applicable to securities and derivatives activities. 4. Key Risk Indicators Assess the relevance of Group KRIs to local branch operations. Identify the need for additional local KRIs, including Regulatory Compliance Risk indicators. Collect quarterly KRI data. Liaise with first-line stakeholders regarding KRI changes. Coordinate requests for new, amended, or revoked KRIs. Manage escalation and remediation related to KRI threshold breaches. 5. Quarterly Compliance Risk Reporting Financial Crime Risk Conduct Risk Regulatory Compliance Risk Compliance testing and audit findings Open and overdue findings Criticality classifications Remediation status KRI trends and threshold breaches Material events and emerging risks Regulatory breaches and systemic control failures Regulatory interactions Risk-based compliance plans and activities New Product Approval Process (NPAP) Regulatory screening activities The reporting must provide a consolidated view of the branch's compliance risk profile, identify material changes in exposure, assess control effectiveness, and provide forward-looking risk considerations. 6. New Product Approval and Advisory Assess compliance implications arising from new product approvals when requested. Identify and report significant regulatory developments, incidents, suspected breaches, or regulatory contacts. Provide ad hoc compliance advice when specifically requested by Group Compliance. Support training activities when specifically requested. Required Experience Significant hands-on compliance experience within a U.S. banking or broker-dealer environment. Experience with a foreign banking organization, U.S. branch, or U.S. agency is highly desirable. Strong knowledge of the U.S. regulatory environment applicable to wholesale banking operations. Strong knowledge of BSA/AML and OFAC sanctions requirements. Strong understanding of SEC and CFTC regulations governing securities and derivatives activities. Understanding of how U.S. regulatory requirements and extraterritorial provisions apply to non-U.S. entities. Proven experience designing and executing second-line compliance testing. Experience testing control design and operating effectiveness. Experience assessing findings, severity, remediation requirements, and control effectiveness. Experience performing compliance risk assessments using inherent risk, control effectiveness, and residual risk methodologies. Experience developing risk-based compliance plans. Experience defining, monitoring, and escalating KRIs. Experience preparing board-level or group-level compliance risk reporting. Ability to operate independently from the first line while functioning as an embedded local compliance resource. Ability to review and challenge work performed by external specialists. Excellent written English and strong regulatory reporting skills. Preferred Qualifications Experience with trade finance, guarantees, and standby letters of credit. Experience with syndicated lending and revolving credit facilities. Experience with treasury and liquidity activities. Previous experience supporting a European banking group in the U.S. Model validation experience or access to qualified specialists for coordinating validation activities. CAMS, CRCM, or equivalent compliance certification. Experience with anti-bribery and corruption controls. Experience with data protection control environments within banking. Ways of Working Part-time, on-site in New York City, approximately 3 days per week. Initial 6-week engagement beginning October 1, followed by ongoing part-time support. Effort will be scaled according to the approved annual compliance plan. Consultant will apply their own firm's methodology for risk assessment, planning, execution, and report writing. Group Compliance will provide the applicable risk and control library, KRI decision documents, and reporting templates. Core Deliverables Annual local risk-based Compliance Plan and compliance risk assessment. Compliance testing reports with findings, severity ratings, and remediation plans. Local KRI relevance and gap assessment. Quarterly KRI data collection. Quarterly compliance risk reports covering Financial Crime, Conduct, and Regulatory Compliance Risk. Certified scope of applicable U.S. requirements, obligations, and exemptions affecting European home-market operations. Ad hoc reporting on material events, emerging risks, NPAP outcomes, and regulatory interactions. Ampcus is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veterans or individuals with disabilities. #J-18808-Ljbffr Ampcus, Inc