Legal & Compliance Department-Regulatory Affairs Office (RAO) AVP/VP

Introduction Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business. Overview RAO serves as the primary, centralized point of contact for all Regulatory Affairs Matters for the Bank. This includes overseeing the coordination of Regulatory Communication items, Regulatory Meetings, and Regulatory Examinations across all three (3) lines of defense. RAO is responsible for identifying, tracking, managing, responding to, and retaining records related to Regulatory Affairs Matters across the Bank. RAO organizes and manages Regulatory Meetings, conduces reviews and credible challenge of written responses and supporting documentation, leverages subject matter expertise and knowledge of U.S. Banking rules and regulations, oversees the timely submission of material, and retains records of all forms of communication with Regulators. The VP establishes and maintains RAO policies/procedures and oversees all Regulatory Affairs Matters, including project management, stakeholder relationships, and day-to-day processes, communication with regulators, tracking and coordinating regulatory deliverables, driving the submission process to ensure timely execution and quality assurance, and reporting regulatory updates to Bank Management and committees. Responsibilities Include but are not limited to: Regulatory Affairs Liaison: Communication with Regulators and Bank Management Serve as the primary liaison with regulatory agencies and the Bank during periodic examinations and BAU or ad hoc inquiries; facilitate prompt review and approval of submissions and commitment closures Oversee the bank examination process for exams and enhanced continuous monitoring reviews conducted by the different U.S. regulatory authorities Lead in maintaining fluid and regular communications between the Bank and its regulators Convey regulators’ inquiry/advice/comments/instruction/concerns to relevant parties and drive a resolution to address those in a timely manner Support key stakeholders in the writing of regulatory responses ensuring comprehensiveness and consistency across lines of business Manage escalations related to regulatory matters and/or deliverables, and provide support to ensure proper awareness and communication to applicable stakeholders including the regulators and Executive Management as applicable Ensure standards are maintained and followed related to the Bank’s regulatory interactions, including exam management, regulatory meeting, request for information and other ad hoc communications Drive and Execute quality reviews of all regulatory submissions to ensure deliverables meet strict deadlines and fulfil regulatory and quality standards; leverage knowledge of U.S. Banking regulations and compliance rules Oversee all facets of compliance-related regulatory exams, as well as additional exams covering other Independent Risk Management (IRM) functions, such as Operational Risk Management, etc., as requested by CRO; manage exam requests, meeting preparation and presentation, exam logistics, and communication of exam deadlines and updates to relevant parties, and Senior and Executive Management; and ensure efficient, effective and accurate communication between regulators and the Bank. Regulatory Affairs Office Recordkeeping and Retention Oversee the documentation and maintenance of comprehensive records of communications and regulatory affairs in line with both the Bank’s policies/standards and regulatory expectations Review minutes for regulatory meetings; consider internal stakeholder feedback; maintain RAO records of such Maintain and communicate the regulatory exam schedule, including exam results and documentation (SL) and key metrics related to RAO functions Establish and maintain RAO Procedure and relevant processes; facilitate procedure approvals and relevant training, as needed Periodically review and update the RAO Procedure, and conduct ad-hoc amendment per regulatory requirement or instruction from Management Develop and drive other regulatory affairs processes, as needed Regulatory Affairs Office Reporting Oversee coordination and review of regulatory-related information and status updates for periodic reporting to Management and committees Review and assess items to be submitted for remediation validation and evaluation against stated regulatory expectations Review supporting documents for remediation to confirm regulatory MRAs/MRIAs are addressed Provide guidance and support in the development of remediation documentation and supporting information Monitor and track corrective actions regarding Regulatory Enforcement Action and MRA remediation plan progress; facilitate the preparation and reporting of overall remediation status of open issues to the management team; manage related communication with the regulators on ongoing and timely basis Organize and participate in internal meetings with stakeholders and management to discuss progress in corrective actions; and Report to Management with most updated information regarding regulatory affairs Others Other tasks or projects assigned by the Supervisor, including ad hoc regulatory updates or communications, as requested Qualifications Bachelor’s degree required; advanced degree (i.e., MBA, JD, etc.) preferred. Minimum 10 years of work experience in banking, preferably in a risk management and/or compliance-related function; prefer experience managing regulatory affairs, managing teams, and/or prior experience working at a regulatory agency. Or combination of 5 years experience in banking and 5 years managing regulatory affairs, and/or prior experience at a regulatory agency. Understanding of bank processes, risks, controls, and overall governance framework. Experience in managing high-priority, cross-functional projects involving multiple stakeholders, and/or experience related to regulatory issue remediation a plus. Experience with committee and senior management-level reporting; development and review of policies/procedures. Strong knowledge of regulatory environment; knowledge of BSA/AML and Sanctions Compliance preferred. Excellent verbal and written communication skills Solid analytical and computer skills (Microsoft Office, with a focus on Excel/pivot tables) and detail-oriented. Strong relationship management/leadership skills; ability to work well under high-pressure situations and use negotiation/influencing skills to reach positive conclusions. Task oriented with sound time management skills; ability to manage and deliver against multiple priorities to meet critical deadlines. Strong team player mindset and effective collaborator. Sound problem-solving skills, able to drive solutions; possesses independent judgement and discernment. Strong knowledge of industry best practices, regulations, and industry developments. CAMS or other relevant certification preferred. Pay Range Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications. USD $110,000.00 - USD $230,000.00 /Yr. #J-18808-Ljbffr Bank of China Limited, New York Branch