VP & Director, 1B Compliance Governance Control
TD Asset Management
Location: NYC, NY (Hybrid)
Within TD Wealth the oversight of controls and the management of regulatory risk exposures for its Global Asset Management operations are managed by the Regulatory & Policy Governance (“RPG”) Group within the TD Wealth business, a 1B group, which has its Head Office in Toronto, Canada. In order to perform this function, RPG assesses regulatory rule changes and industry practices, prepares polices, maintains a regulatory rule inventory and in conjunction with Compliance educates the business on regulations and controls, monitors control effectiveness, and act as Centers of Excellence supporting the business to improve its control environment.
This 1B Business Governance Control ("1B") role will support the TD Wealth asset management businesses in the US to achieve sustainable commercial strategies within an appropriate supervisory and governance model that is aligned to TD Bank and TD Wealth's policies, risk appetite and local regulatory requirements.
This role will facilitate the establishment of appropriate governance and control regimes for TD Wealth's US Asset Management Operations (including Epoch Investment Partners ("Epoch")). The role will work closely with the Compliance teams for the US asset managers.
The role will report locally into the President of Epoch and have main to Head Office via the Managing Director, RPG.
Accountabilities:
Maintain the regulatory compliance management ("RCM") program for the US Wealth Asset Management Businesses.
Work with business stakeholders to develop key controls to adhere to regulatory requirements and vet regulatory mapping of policies and procedures and controls ("RCM Rule Mapping").
Provide effective 1B challenge to ensure the effective design of controls owned by 1A business stakeholders.
Implement a process to ensure the ongoing accuracy of control descriptions and control owners in the RCM Rule Mapping and related policies and procedures.
In conjunction with Compliance define a regulatory rule change engagement model and support the businesses on implementation including providing training.
Be a subject matter expert on interpreting the application of the regulatory requirements (securities, privacy, AML) for the businesses with support from Compliance and Legal.
Prepare and maintain business compliance policies and procedures and incorporate reviews by multiple stakeholders.
Assess and address impacts and gaps related to any ongoing business or regulatory changes.
Work with the business to build out new processes or updates to existing processes to meet securities regulatory requirements and policy requirements.
Support business on updating procedures for new processes/controls.
Support governance over business activities by overseeing a sustainable Regulatory Compliance Supervision Framework that includes monitoring and testing that supports effective supervision practices and communication of the business risks, issues, and activities.
Support the remediation process in collaboration with the businesses when control gaps are identified and work with the business in designing action plans to ensure continuous improvements while embedding a strong control and regulatory environment.
Participate in change management initiatives as they arise by supporting the business on regulatory analysis and interpretation at both the approval and implementation stages of a change.
Oversee the operation of effective and efficient processes that are aligned with TD Bank and TD Wealth policies.
Support a culture of risk management and regulatory rule compliance throughout the businesses, supported by processes in alignment with risk appetite.
Bring a strong understanding and experience of managing risk and regulatory requirements, challenge to the business and a strong focus on risk and regulatory governance and oversight.
Protect the businesses interests by keeping abreast of business trends, risks, and control management issues and by maintaining a high level of knowledge of existing and emerging risk issues across the businesses.
Establish strong relationships and maintain an interaction model with business partners, Compliance, and Legal.
Job Requirements:
Previous experience in a 1B role or compliance role within a bank owned asset manager.
University degree in Business, Finance, or equivalent work experience. CPA is an asset.
Solid understanding of asset management regulatory rules (securities, privacy, AML).
Solid understanding of the Asset Management business and market practices.
Auditing background with experience in designing key controls to meet regulatory requirements.
Expert knowledge of compliance policies and procedures preparation and regulatory rule interpretation.
Ability to understand and detect business control issues and assess their impacts on business goals and objectives.
A proven collaborative approach to problem-solving, decision-making, consensus-building, and communication.
High degree of organizational awareness, personal initiative with a strong ability to manage productive relationships with business partners and stakeholders.
Expert communication skills including writing skills.
Ability to exercise sound judgement in making decisions.
Ability to work independently and prioritize work while meeting multiple deadlines and are highly motivated.
Strong organisational skills and attention to detail.
Expert knowledge of governance, risk and control procedures, strategies & tactics.