Regulatory Compliance Specialist

Job Description

Job Description

Ampcus Inc. is a certified global provider of a broad range of Technology and Business consulting services. We are in search of a highly motivated candidate to join our talented Team.

 

Job Title: Regulatory Compliance Specialist

Location(s): New York, NY
(Hybrid: 3 days per week in office)

Job Summary
Seeking an experienced Regulatory Compliance Specialist to serve as an independent second-line compliance resource for U.S. banking operations. The consultant will lead local compliance risk assessments, develop risk-based compliance plans, execute compliance testing, monitor key risk indicators (KRIs), and prepare quarterly compliance risk reports.

A key responsibility is independently assessing and certifying the applicability of U.S. regulatory requirements, obligations, and exemptions to international banking operations, with particular emphasis on SEC and CFTC regulations governing securities and derivatives activities, including extraterritorial requirements.

The ideal candidate will have substantial experience in U.S. banking, broker-dealer compliance, or foreign bank branch operations, along with strong expertise in regulatory compliance, financial crime risk, control testing, risk assessments, remediation oversight, and regulatory reporting.

Roles and Responsibilities 1. Risk-Based Compliance Planning

• Develop and maintain an annual risk-based Compliance Plan.
• Conduct local compliance risk assessments covering Conduct Risk and Financial Crime Risk.
• Assess inherent risk, evaluate control effectiveness, and determine residual risk.
• Use established risk and control libraries to identify control gaps and prioritize compliance activities.
• Document risk assessment conclusions and recommend compliance monitoring and testing activities based on residual risk.
• Coordinate with Group Compliance to align local assessments and quarterly risk reporting.
• Update the compliance plan when material risks emerge.

2. Compliance Testing and Risk-Based Activities

• Perform independent second-line compliance testing to assess the design and operating effectiveness of key controls.
• Scope and execute testing based on identified risks, control objectives, and compliance requirements.
• Document testing results, assess findings by severity, and develop remediation plans with relevant stakeholders.
• Conduct or coordinate model validation where applicable, engaging qualified external specialists when required.
• Independently review and challenge testing or validation performed by external specialists.
• Report testing outcomes, control deficiencies, and remediation progress to relevant stakeholders.

3. Regulatory Screening and Compliance Oversight

• Independently assess the applicability of U.S. regulatory requirements, obligations, and exemptions to international banking operations.
• Evaluate regulatory requirements and extraterritorial considerations affecting securities and derivatives activities.
• Demonstrate knowledge of SEC, CFTC, BSA/AML, OFAC, and applicable federal and state banking regulations.
• Oversee first-line processes for identifying, assessing, and implementing applicable U.S. regulatory requirements.
• Monitor regulatory developments, emerging risks, implementation status, and identified compliance gaps.
• Provide structured updates and regulatory intelligence to Group Compliance.
• Certify the applicable U.S. regulatory requirements and exemptions relevant to the organization's international operations.

4. Key Risk Indicators (KRIs)

• Assess the relevance of implementing local equivalents of established KRIs and identify additional indicators where necessary.
• Evaluate KRI requirements across Financial Crime Risk, Conduct Risk, and Regulatory Compliance Risk.
• Collect and consolidate quarterly KRI data.
• Coordinate with first-line stakeholders regarding proposed KRI changes.
• Monitor threshold breaches, escalation requirements, and remediation action plans.
• Identify trends and potential systemic control weaknesses and escalate material deviations.

5. Quarterly Compliance Risk Reporting

• Prepare quarterly compliance risk reports covering Financial Crime Risk, Conduct Risk, and Regulatory Compliance Risk.
• Assess the overall compliance risk landscape, changes in risk exposure, control effectiveness, and emerging risks.
• Report compliance testing results, internal audit findings, regulatory inspection outcomes, and first-line control review findings.
• Monitor open and overdue findings, severity classifications, and remediation status.
• Independently assess the adequacy of remediation measures, particularly for high-risk or delayed findings.
• Analyze KRI trends, threshold breaches, root causes, and potential systemic weaknesses.
• Report material incidents, regulatory breaches, significant operational changes, and emerging risks.
• Maintain oversight of material regulatory interactions and ensure appropriate communication to Group Compliance.
• Provide reporting on compliance planning, testing activities, new product approvals, regulatory screening, audits, and KRIs.

6. New Product Approval and Advisory

• Assess compliance implications arising from new product approval processes.
• Report significant developments, suspected regulatory breaches, material incidents, and regulatory contacts associated with new products.
• Provide ad hoc compliance advice and support when requested by Group Compliance.
• Support compliance training initiatives when specifically requested.

Required Qualifications

• Significant hands-on compliance experience in a U.S. banking or broker-dealer environment.
• Experience with foreign banking organization branches or agencies is highly desirable.
• Strong knowledge of U.S. regulatory requirements, including BSA/AML, OFAC sanctions, SEC, CFTC, and applicable banking supervisory expectations.
• Understanding of securities and derivatives regulations, including their extraterritorial application to non-U.S. entities.
• Proven experience designing and executing second-line compliance testing.
• Experience assessing control design and operating effectiveness, documenting findings, assigning severity ratings, and overseeing remediation.
• Demonstrated expertise in compliance risk assessments using inherent risk, control effectiveness, and residual risk methodologies.
• Experience developing risk-based compliance plans and prioritizing monitoring activities.
• Experience defining, monitoring, and escalating key risk indicators.
• Proven ability to prepare quarterly or senior-management-level compliance risk reports using prescribed templates.
• Ability to operate independently from the first line and challenge the work of external specialists.
• Excellent written English and strong documentation and reporting skills.

Preferred Qualifications

• Experience with trade finance, guarantees, standby letters of credit, syndicated loans, revolving credit facilities, and treasury liquidity activities.
• Previous experience supporting international or European banking organizations operating in the U.S. market.
• Model validation experience or the ability to coordinate qualified external specialists.
• Relevant professional certifications such as CAMS, CRCM, or equivalent.
• Experience with anti-bribery and corruption controls and banking-related data protection requirements.

Ways of Working

• Apply an independent methodology for risk assessment, planning, compliance testing, execution, and reporting.
• Use established risk and control libraries, KRI documentation, and reporting templates provided by the compliance function.
• Work independently while coordinating with first-line stakeholders and Group Compliance.
• Deliver services on-site three days per week, with part-time effort aligned to the approved annual compliance plan.

Core Deliverables

• Annual local Compliance Plan, including a comprehensive compliance risk assessment.
• Compliance testing reports with documented findings, severity ratings, and remediation plans.
• Assessment of local KRI requirements and quarterly KRI data collection.
• Quarterly compliance risk reports covering Financial Crime, Conduct, and Regulatory Compliance Risk.
• Independent certification of applicable U.S. regulatory requirements, obligations, and exemptions affecting international operations.
• Ad hoc reporting on material events, emerging risks, new product approvals, and regulatory interactions.

Work Arrangement:

• Part-time, on-site, 3 days per week.

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.