About CLS:
CLS is the trusted party at the centre of the global FX ecosystem. Utilized by thousands of counterparties, CLS makes FX safer, smoother and more cost effective. Trillions of dollars’ worth of currency flows through our systems each day.
Created by the market for the market, our unrivalled global settlement infrastructure reduces systemic risk and provides standardization for participants in many of the world’s most actively traded currencies. We deliver huge efficiencies and savings for our clients: in fact, our approach to multilateral netting shrinks funding requirements by over 96% on average, so clients can put their capital and resources to better use.
CLS products are designed to enable clients to manage risk most effectively across the full FX lifecycle – whether through more efficient processing tools or market intelligence derived from the largest single source of FX executed data available to the market.
Our ambition to make a positive difference starts with our people. Our values underpin everything that we do at CLS and define our working environment:
- Pivotal purpose
- Trusted guardian
- Targeted innovation
- Facilitate connections
- Delivering excellence
- Inclusive culture
Job information:
- Functional title – Assistant Vice President
- Department – Compliance Risk Management
- Corporate level – Assistant Vice President
- Report to – Director, Compliance Risk Management
- Location – Iselin, New Jersey
- Expected full-time salary range between $ 136,000 - $159,000 + variable compensation + 401(k) match + benefits.
- Note: Disclosure as required by NY Pay Transparency Law of the expected salary compensation range for this role.
What you will be doing:
- Provide day-to-day internal support to the Regulatory Compliance team on routine queries, directing and escalating more complex or sensitive issues to senior advisors as appropriate.
- Support the annual Compliance Risk Assessment by data gathering, updating assessment templates, and helping prepare materials for senior management review.
- Assist in the execution of BAU monitoring and control testing activities (e.g. sample checks, QA reviews), performing defined testing steps, documenting results, and drafting clear summaries for review.
- Provide review and challenge of policies and procedures ensuring they are current and aligned with regulatory requirements and internal standards.
- Prepare and maintain regular reporting and management information on compliance matters, supporting reporting into relevant committees and governance forums.
- Support regulatory change activities impacting CLS by assisting with impact assessments, documenting requirements, and helping to embed changes into policies, procedures, and internal frameworks.
- Perform horizon scanning for regulatory and industry developments relevant to CLS, logging developments and helping draft internal summaries.
- Provide general support to the Compliance Risk Management Advisory including maintaining trackers, logs, and shared documentation and contributing to process improvements.
What we’re looking for:
- Prior experience in regulatory compliance and/or finance crime compliance, or related role within financial services or a regulated environment.
- Comfortable working with stakeholders with good organizational skills for managing multiple workstreams and deadlines.
- Prior experience supporting internal audit engagements and remediation efforts. Knowledge of a financial market utility or FMU regulatory environment, key legislative requirements and practical implications would be beneficial.
- Prior experience interfacing with banking regulators would be beneficial.
- Understanding of payments and foreign exchange markets a plus.
- Ability to manage urgent requests in a timely manner.
- Excellent verbal and written communication skills.
- Self-starter with the ability to work independently and proactively solve problems.
- High level of attention to detail.
- Willing and enthusiastic about learning and committed with a desire to succeed.
Professional qualifications / certifications
- Minimum bachelor’s degree; Postgraduate degree (e.g., JD, MBA) or compliance / testing / audit certifications a plus
- 5-7 years professional experience in Regulatory Compliance / risk management in Banking/Financial Services.
- Strong analytic capabilities; excellent communications skills to influence stakeholders
- Ability to work independently (with limited direct authority) to assess and identify gaps and influence outcomes
- Advanced proficiency in Microsoft Office applications (Word, Excel and PowerPoint). Familiarity with Governance, Risk & Compliance (GRC) tools (e.g., Archer) a plus
- Progress towards, or interest in, a relevant professional qualification (e.g. ICA, CAMS) is desirable but not essential.
- Proficiency in regulatory requirements e.g. Prudential, BSA/AML, Privacy
- Knowledge of a Financial Market Utility regulatory environment, key legislative requirements and practical implications would be beneficial
Our commitment to employees:
At CLS, we celebrate inclusion and consider this to be one of our strongest assets. We are committed to fostering an environment in which everyone feels comfortable to be who they are, and inclusion is valued. All employees have access to our inclusive benefits, including:
- Holiday - UK/Asia: 25 holiday days and 3 ‘life days’ (in addition to bank holidays). US: 23 holiday days.
- 2 paid volunteer days so that you can actively support causes within your community that are important to you.
- Generous parental leave policies to ensure you can enjoy valuable time with your family.
- Parental transition coaching programmes and support services.
- Wellbeing and mental health support resources to ensure you are looking after yourself, and able to support others.
- Employee Networks (including our Women’s Forum, Black Employee Network and Pride Network) in support of our organisational commitment to embrace and always be learning more about inclusivity.
- Hybrid working to promote a healthy work/life balance, enabling employees to work collaboratively in the office when needed and work from home when they don’t.
- Active support of flexible working for all employees where possible.
- Monthly ‘Heads Down Days’ with no meetings across the whole company.
- Generous non-contributory pension provision for UK/Asia employees, and 401K match from CLS for US employees.
- Private medical insurance and dental coverage.
- Social events that give you opportunities to meet new people and broaden your network across the organisation.
- Annual flu vaccinations.
- Discounts and savings and cashback across a wide range of categories including health and retail for UK employees.
- Discounted Gym membership – Complete Body Gym Discount/Sweat equity program for US employees.
- All employees have access to Discover – our comprehensive learning platform with 1000+ courses from LinkedIn Learning.
- Access to frequent development sessions on a number of topics to help you be successful and develop your career at CLS.
Skills Required
- Bachelor's degree
- 5-7 years of professional experience in regulatory compliance or risk management within banking or financial services
- Prior experience in regulatory compliance, financial crime compliance, or a related role within financial services or a regulated environment
- Experience supporting internal audit engagements and remediation efforts
- Strong analytical capabilities
- Excellent verbal and written communication skills
- Ability to work independently with limited direct authority to assess gaps and influence outcomes
- Advanced proficiency in Microsoft Office applications, including Word, Excel, and PowerPoint
- Proficiency in relevant regulatory requirements, including Prudential, BSA/AML, and Privacy
- Ability to manage multiple workstreams, deadlines, and urgent requests
- High level of attention to detail
- Postgraduate degree such as JD or MBA
- Compliance, testing, or audit certification
- Knowledge of a Financial Market Utility regulatory environment and related legislative requirements
- Prior experience interfacing with banking regulators
- Understanding of payments and foreign exchange markets
- Familiarity with Governance, Risk and Compliance tools such as Archer
- Progress toward or interest in a relevant qualification such as ICA or CAMS
What We Do
In 2022, we celebrate 20 years of delivering unprecedented levels of risk mitigation, liquidity optimization and operational efficiencies. Trusted by thousands of counterparties within the global FX ecosystem, CLS makes FX safer, smoother and more cost effective. Trillions of dollars worth of currency flows through our systems each day. Created by the market for the market, our unrivaled global settlement infrastructure reduces systemic risk and provides standardization for participants in many of the world’s most actively traded currencies. We deliver huge efficiencies and savings for our clients: in fact, our approach to multilateral netting shrinks funding requirements by over 96% on average, so you can put your capital and resources to better use. Our complementary products are designed to enable you to manage your risk most effectively across the full FX lifecycle – whether through more efficient processing tools or market intelligence derived from the largest single source of FX executed data available to the market.
