Vice President, Compliance Manager - Testing & Quality Assurance

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Overview Of The Department/Section

The Core Compliance department at MUFG plays a critical role in safeguarding the integrity and reputation of the investment bank. It is responsible for ensuring that the firm operates within the framework of applicable laws, regulations, and internal policies.

The Compliance Testing and Quality Assurance (CTQA) function is responsible for leading and executing a comprehensive second-line risk based assurance programme, across the bank and securities business activities of MUFG in London and the EMEA region. The work of the department involves conducting targeted reviews, thematic deep dives and delivering a quarterly robotics monitoring programme using advanced data analytics. The team’s assurance coverage is across the first and second line of defence, assessing the overall design and operating effectiveness of compliance risks and controls across the firm.

Number Of Direct Reports

Tbc

Main Purpose Of The Role

To contribute to the overall success of CTQA 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.

This includes supporting the strategic direction and ensuring the effectiveness of the EMEA testing and assurance programme. The individual will work closely with the EMEA Head of Testing in setting strategic priorities, managing the testing and assurance framework and producing meaningful management information.

The successful candidate will have proven knowledge and experience in robust testing and assurance frameworks, industry best practice and “what good looks like” and relevant regulatory expectation.

Key Responsibilities

• Supporting the EMEA Head of Testing and Assurance in delivering the EMEA Testing and Assurance strategy and programme components and the wider Compliance Division’s objectives.
• Leading, managing and delivering technically complex, well-articulated and comprehensive reviews of the London and EMEA business areas to provide assurance over compliance and conduct risks to key stakeholders
• Managing a sub team of integrated London and off-shored team members including team oversight of deliverables, performance management and the production of relevant team MI
• Providing oversight over the data analytics project and supporting and delivering related User Acceptance Testing (UAT) and other deliverables as part of phased go-lives, delivering and supporting with training sessions to the Testing Team (and more widely) on their use of the system (Sherlock)
• Progressing the data analytics strategy overall (including any Artificial Intelligence related projects) to help increase the profile, investment and usability of Sherlock across other teams, internally and externally to Core Compliance.
• Managing the testing and assurance governance framework, including escalation and reporting of management information, analysis and key risk metrics to various senior governance committees and forums across first and second line, and to local compliance management across EMEA.
• Strengthening the overall off-shore strategy through regular interaction with the offshored team/ team leads, identifying challenges and on-going needs, co-ordinating feedback and proposing solutions, and problem solving for any gaps or on-going developmental requirements
• Designing and establishing best practice policies, procedures, standards and systems across testing and assurance activities to ensure consistency, risk mitigation, effectiveness and alignment to regulatory expectations
• Liaising with regulators, auditors and Surveillance to promote a good understanding of the firm’s testing and assurance governance and controls framework
• Assisting in the management of regulatory inspections / exams, internal audits, and assurance reviews including smooth delivery of information and assisting in the planning and implementation of tactical or strategic solutions to meet their requirements.
• Fostering coordination and engagement with other internal stakeholders, including Business Heads, Front Office Risk & Control, Operational Risk Management, Technology, Compliance Advisory, Financial Crimes Division and Data Governance. This includes addressing substantive matters arising and escalation and presentation of significant issues to senior management of these departments, where necessary.
• Working with the Compliance Technology and Data Governance teams to align testing and assurance control development and implementation with strategic goals.
• Taking ownership and lead on managing own career, personal and professional development. Identify opportunities and platforms to enhance Compliance, Regulatory and Financial Industry knowledge and experience to continue to improve product and services knowledge across MUFG which can be reflected in reviews, communications and interactions with stakeholders.
• Assisting in the creation and delivery of the department’s Assurance Plan by identifying key areas of focus for reviews and producing relevant, routine MI
• Scoping reviews and developing test programmes in alignment with the annual testing plan and other live assurance programmes
• Tracking, managing and taking ownership of the remediation of compliance issues by working with relevant business stakeholders
• Regularly meeting with and engaging with key business stakeholders in order to identify key risk areas and building/maintaining strong relationships with key stakeholders
• Contributing to the semi-annual and annual risk assessments through feedback of testing findings, breaches and trends
• Performing peer reviews of the work performed by junior staff (London and MGS), prior to VP review and approval, and the subsequent progression through the Testing Team’s governance lifecycle process
• Coaching, supporting and training junior members of the team including support with stakeholder meetings, negotiations and overall messaging to high quality standards
• Working in collaboration with the First Line to support their assurance programme where required
• Identifying compliance and conduct risk topics and communicating to the team, division and senior management on any industry updates.
• Actively participating in current CTQA projects and wider initiatives such as streamlining Financial Crime and Core Compliance processes and supporting global integration
• Representing Core Compliance at relevant committees and forums across the Bank and Securities platform
• Supporting the build out of the CTQA’s presence in EMEA
• Other ad-hoc tasks as requested by management

Work Experience

Essential:

• Extensive’ experience of working in a testing or audit function for investment banks or other financial institutions, or within a consulting or regulatory environment predominantly focused on the execution and oversight of independent reviews in relation to wholesale banking business areas
• Proven experience in leading testing and assurance programmes.

Skills And Experience

Functional / Technical Competencies:

Essential

• In-depth knowledge and expertise of the UK regulations and regimes is required whilst knowledge of other jurisdictions such as US and EU regulations is preferred
• Strong knowledge and understanding of risks and control frameworks and key testing techniques required to provide independent assurance over the design and operating effectiveness of expected controls
• Familiarity with data analytics tools such as Power BI and Tableau preferred but not essential

Education / Qualifications:

Essential

• Bachelor’s degree in Finance, Economics, Business Administration, or a related field.

Preferred:

• Advanced degree (e.g., MBA) or professional certifications such as ACA, CIMA, ACCA

Personal Requirements

• A confident approach, with the ability to provide clear direction to junior team members
• Good listening skills with the ability to provide and receive constructive advice
• The ability to adapt and pivot on strategy in response to changing demands
• The ability to role model MUFG’s cultural principles as well as behaviours expected at this grade
• A strategic approach with the ability to lead and motivate a high performing team
• The ability to articulate and implement the vision/strategy for the Testing & Assurance / Compliance department
• Excellent communication skills, both written and verbal, and strong negotiation skills
• Results driven, with a strong sense of accountability
• A proactive, motivated approach and the ability to motivate and inspire direct reports
• The ability to operate with urgency and prioritise work accordingly
• Strong decision making skills, 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, competing demands 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 skills
• Data analytics skills desired but not essential

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.