• 3 July 2008
• Reference: JR202391

• Director Institutional Securities Sales & Trading Surveillance

• City of London Excellent Permanent

Our client is a pre-eminent global investment bank. This pivotal role will assist the Firm in compliance with UK legislation, exchange rules and regulations, and applicable EU and overseas legal and regulatory requirements.

The Department also undertakes surveillance activities and utilizes exception reports to monitor and, where appropriate, investigate Firm, customer and employee trading activity. The Institutional Sales and Trading Compliance Director will work closely with other professionals in the Department that provide advisory coverage to the Institutional Equity and Interest Rate, Credit and Currencies and Commodities Division, and drawing upon the general resources of the Firm.

Principal Duties:
Surveillance and Monitoring Management
Oversee and manage the resources of the team who are responsible for daily monitoring and surveillance of all European sales and trading to ensure compliance with relevant Market Abuse, Conduct of Business and Exchange rules. Ensure that all the team interrogate the Firm's surveillance reports and systems and that findings are investigated and resolved appropriately and in a timely fashion and that all the results are fully documented and escalated accordingly.
Liaise with the Compliance advisory teams and other Compliance Departments as well as operations other business support staff to ensure findings are appropriately investigated.

Surveillance and Monitoring Development
Work closely with Compliance coverage teams, IT and operations throughout the Firm to ensure that appropriate enhancements are made to the Firm's surveillance systems, reports and processes as and when rules and regulations require such changes.
Ensure ongoing development of surveillance reports is consistent with regulatory enhancements.

Regulatory Enquiries
Manage regulatory enquiry process for all enquiries of relevance to the IED or IRC businesses, ensure appropriate recording and resolution of all such enquiries from regulators and exchanges.
Liaise with the FSA in regard to regulatory enquiries from European regulators as well as relevant exchanges and handle such enquiries appropriately.

Consultation Documents/Comment Letters
Participate and lead internal and external industry surveillance and monitoring discussions and assist in the drafting of response letters to consultation initiatives from regulatory bodies and exchanges.

Implementation of New Policies and Procedures
Assist in the implementation of new policies and procedures in response to, or in anticipation of, relevant rule changes and new legislation, new exchange/jurisdictional listings or trading models.

Management reporting
Provide senior management with appropriate information on a regular basis on surveillance findings, investigations and market developments.

Training
Develop and assist in the provision of appropriate training to business units and Compliance on monitoring and surveillance related matters.

Mentoring
Mentor and develop team members, in particular but not limited to, junior members of the department.

Primary Contacts
Due to the diverse and widespread nature of the position, the successful candidate will be in close contact with all levels of Business Unit staff, as well as Operational, IT and other support areas within the Firm.

The role may also require contact with other investment banks, broker-dealers, clearing organisations, derivative exchanges, regulatory bodies, industry bodies, outside counsel and external auditors.

Supervision
The reporting line will be to the Head of Sales and Trading Compliance.

Skills Required

Position Requirements:
University graduate and/or professionally qualified, e.g. law or accountancy graduate

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