MUFG Union Bank AVP - Private Side Testing (CA&T) in United States
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Overview of the Department/Section:
MUFG (Mitsubishi UFJ Financial Group) is one of the world's leading financial groups. Headquartered in Tokyo and with approximately 350 years of history, MUFG is a global network with around 2,300 offices in over 50 countries including the Americas, Europe, the Middle East and Africa, Asia and Oceania, and East Asia. The group has over 150,000 employees, offering services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.
As one of the largest financial groups globally with a vison to be the world's most trusted, we want to attract, nurture and retain the most talented individuals in the market. The size and range of MUFG's global business creates opportunities for our employees to stretch themselves and reap the rewards. Behaving with integrity and responsibility, underpinned by a desire to build a culture which is fair, transparent, and honest, drives everything that we do. We aim to be the financial partner of choice for our clients, whatever their requirements, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.
Please visit our website for more information - mufgemea.com.
Compliance Assurance & Testing (CA&T) is responsible for leading and delivering a comprehensive risk monitoring and testing capability across the bank and securities business activities of MUFG in London. The work of the department extends to conducting thematic reviews, deep dives, communications monitoring, investigations and trade surveillance covering compliance and conduct risks and issues. Effective delivery of this programme requires collaboration with other Compliance Departments and engagement with all business and operational areas. The Department is organized into four teams covering; i) Markets ii) Banking iii) Trade Surveillance and iv) Communications Surevillance.
The Banking side covers MUFG businesses involved in corporate finance, corporate banking, trade finance, project finance, Loans and Bonds Syndication, Debt Capital Market, structured finance, transaction banking and supply chain and cash management type activities. However there is also a lot of interface with Markets side of MUFG which mainly deals with secondary market activities (i.e. Public side) looking at FX, Rates and Credit trading amongst other activities.
Main Purpose of the Role :
To contribute to the overall success of CA&T and its objectives by delivering a risk based programme of second line compliance for MUFG’s EMEA region. The role includes support of both the Global Head Offices’ assurance programmes and EMEA based testing which may also include opportunities to travel to offices located within EMEA. The role may also involve ad-hoc investigations, projects and thematic reviews. You may also be asked to support wider initiatives and undertake other tasks and responsibilities in CA&T.
For dual hat only
In this role, you will be responsible for the compliance assurance and testing programme across MUFG’s banking arm and securities business under a dual-hat arrangement. Under this arrangement, you will act and make decisions on behalf of both the bank and the securities business, subject to the same remit and level of authority, and irrespective of the entity which employs you.
You will be expected to contribute to the overall compliance assurance and monitoring framework by:
Applying experience as an SME to conduct risk based reviews and deep dives of the London business areas to provide assurance over compliance and conduct risks and issues to key stakeholders
Scoping reviews and developing test programmes for the Bank’s business areas and assisting in the creation and delivery of the department’s Assurance Plan
Carrying out deep dives and thematic reviews by identifying compliance and conduct issues across both London and other EMEA offices.
Managing and taking ownership of the remediation of compliance and conduct issues identified across both London and EMEA
Regularly meeting with and engaging with key business stakeholders in order to indentify key risk areas and refresh the quarterly and annual risk assessment on a periodic basis.
Liasing with EMEA Compliance Officers in communicating and asssitng them to remediate and address any compliance and conduct risk issues identified via our testing and their monitoring program.
Actively participating in current CA&T projects looking at for example data analystics, compliance framework implementation, risk assessment and further rollout in EMEA and Globally
Developing compliance strategies and implementation model to enhance efficiencies and identify QA gaps in department’s processes
Providing support to both the Bank and Securities Global Head Offices and the EMEA testing programmes
Working in collaboration with the First Line to support their assurance programme
Providing MI for Management meetings and Head Office requests and being able to clearly understand and explain how an identified issue increases risk for MUFG Bank
Performing ad-hoc investigations where required
To provide SME expertise on Banking business models and activities to help identify compliance and conduct issues and assist other team members during their review as and when required.This will also apply to SME knowledge on testing activity to help develop testing methodology, scope and fieldwork.
Coaching, supporting and training junior members of the team
Providing industry updates from various regulatory, industry and trade bodies including ESMA, LMA, ICMA, ECB etc and any other relevant industry and trade bodies.
Updates include identifying key areas of focus for reviews, identifying compliance and conduct risk topics and communicating to the team, division and senior management on any industry updates.
Direct Reports: None
You will be expected to perform your responsibilities under the supervision of and reporting to a line manager. You will be expected to ensure that your line manager is fully aware at all times of your activities and to escalate any issues to the line manager or the Head of Department.
You may be expected to provide some form of line management responsibility for junior members of the team as and when required.
Skills and Experience:
Functional / Technical Competencies
SME in banking business desirable – mainly around corporate banking, syndicated loans, transaction banking, project finance, securitization, DCM including syndicated bonds, Loans and any other adhoc private side activities.
Relevant industry experience around testing (assurance activities) at a thematic and deep dive level covering compliance and conduct risks
Relevant experience in carrying out an end to end detailed assurance activity which involves risk assessment, control testing and sample testing.
Strong understanding of Banking and Market risks and regulations including any upcoming issues and regulations such as MIFID2, MAR, EMIR, PSD2, CSDR, SFTR, Capital Markets regulation
Strong relationship management skills, as well as communication (written and oral) with senior stakeholders
Effective time management skills, with the ability to produce high quality output and meet tight deadlines
Problem solving, analysis and reporting skills
Ability to exercise sound judgement, balance risk and practicality to determine appropriate actions/ solutions
Ability to scope reviews, create test scripts and review the work of others
Strong compliance and/or risk testing experience required
Broad and decent understanding of the FCA Handbooks including CASS, Regulatory approaches & OFAC Standards
Excellent presentation and interpersonal skills - ability to communicate clearly and concisely both in person and in writing
Excellent Excel, Word and Powerpoint skills
- 3-5 years+ of experience in a Compliance Assurance and Risk testing function
Education / Qualifications
Relevant industry qualifications relating to Compliance and/or Risk preferred, e.g. CISI, CFA
Attention to detail
Has a risk based attitude and approach
Identifies opportunity to improve processes
Has practical ideas and makes recommendations that challenge current practice
Takes a solution focused approach to promote continuous improvement
Incorporates new behaviours and changes quickly to serve as a role model to others
Has a forensic nature to go deep into issues identified identify root cause and ensure follow up on issues identified
Is a team player and is willing to teach and help other members of the team
Fully supports a ‘best practice’ environment
Excellent communication skills
Results driven, with a strong sense of accountability
A proactive, motivated approach.
The ability to operate with urgency and prioritise work accordingly
Strong decision making skills with the ability to demonstrate sound judgement
A structured and logical approach to work
Strong problem solving skills
A creative and innovative approach to work
Excellent interpersonal skills
The ability to manage large workloads and tight deadlines
Excellent attention to detail and accuracy
A calm approach, with the ability to perform well in a pressurised environment
Excellent Microsoft Office
A confident approach, with the ability to provide clear direction to others in the team
A strategic approach, with the ability to lead and motivate those within your team
Being a team player and having good interpersonal skills
The ability to articulate and implement the vision/strategy for the CA&T department
Ability to identify industry trends, risks and updates and map across relevant compliance and conduct risks.
We are open to considering flexible working requests in line with organisational requirements.
MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.
We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.