Director, Head of Surveillance - Core Compliance

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OVERVIEW OF THE DEPARTMENT/SECTION

The surveillance team currently is approximately 15 people split between London and India.

Coverage includes sales and trading activity our London Bank and Securities businesses and similar businesses in other EMEA countries. Communications Surveillance covers the UK population and certain EMEA and other overseas operations which affect EMEA business

NUMBER OF DIRECT REPORTS

Currently 7

MAIN PURPOSE OF THE ROLE 

Ensure that MUFG EMEA develops and maintains a surveillance programme which

addresses key risks inherent in the MUFG business and meets the functional, control and governance expectations of internal and external stakeholders.

KEY RESPONSIBILITIES

Surveillance programme responsibilities include

• Line-manage the surveillance team
• Oversee the daily alert disposition process conducted in London and India, ensuring appropriate continual quality control and monitoring versus performance targets.
• Ensure the surveillance programme has appropriate coverage of products and risks, taking into account regulatory requirements and expectations
• Develop strategy and articulate to the team and stakeholders
• Ensure results of surveillance are reported timely, accurately with impact and insight
• Maintain and oversee sufficient processes to monitor completeness and accuracy of surveillance input data and alert generation, working with the Data Governance, Transformation and Technology teams
• Lead the surveillance team’s responses to audits and regulatory examinations and enquiries, negotiate outcomes
• Execute all people management, training, operational, issue and breach management, and administrative tasks are executed timely and fully and ensure the same throughout the surveillance team
• Work constructively and proactively on global and international initiatives, managing international stakeholders appropriately
• Developing and embed systems strategy, engage with internal and external stakeholders on the design and delivery of the strategy. Make sufficient surveillance resource available to support system projects
• Maintain appropriate oversight of surveillance system vendor performance
• Understand relevant regulatory developments, business model, structural, trading platform and product changes. Use these insights to constantly monitor and evolve the surveillance programme
• Ensure that investigations are conducted in line with internal procedures and guidance;
• Plan resources to meet the requirements of the surveillance programme and escalate issues promptly
• Oversee the design, preparation and quality control of the market conduct risk assessment, collaborating with the business areas and first line controls teams, and incorporate the results appropriately into the surveillance programme
• Developing and embed systems strategy, engage with internal and external stakeholders on the design and delivery of the strategy
• Represent Compliance at relevant working groups and governance forums
• Keep Compliance management fully and regularly informed of status, issues and challenges on all activities, escalating issues quickly and consulting appropriately on key decisions

• Maintain an effective understanding of major regulatory issues and developments affecting MUFG and engage with relevant stakeholders on strategic responses to such developments.
• Represent MUFG in external industry and regulatory interactions

People management and culture

• Ensure staff are appropriately trained and supported to meet their responsibilities and monitor performance
• Role-model MUFG’s cultural values and ensure the surveillance team lives them

WORK EXPERIENCE

Essential experience

• Team management of a substantial surveillance function
• designing and deploying advanced market abuse risk detection tools
• documenting surveillance programmes e.g. policies, procedures, risk assessments, process performance, issue management etc. Maintaining an audit trail of activities
• managing surveillance engagement with auditors and regulators, remediation of issues arising
• senior stakeholder engagement, including presenting at senior governance committees
• strong technical foundation performing trade and communications surveillance covering key MUFG risk themes and products (including FX, Equities Fixed Income cash and derivatives, on-venue and OTC.
• Understanding of trading platforms and trading and sales data
• systems calibration and testing, setting standards and embedding procedures and good practices
• undertaking market abuse investigations from analysis to interviews.
• Regulator engagement and/ or prior work experience at a regulator, preferably in the context of in depth reviews or inspections

SKILLS AND EXPERIENCE

Functional / Technical Competencies:

Essential

• Understands cash and derivatives products across all major asset classes and profitability analysis of trades
• Control design and documentation. Maintenance of audit trail on activities.
• Data analysis
• Communication and leadership
• Operation of Surveillance Systems including tuning and calibration (trade and comms systems)

PERSONAL REQUIREMENTS

• Precise and proactive communicator
• Relationship building, Team driven
• Results driven, with a strong sense of accountability
• A proactive, motivated approach.
• The ability to operate with urgency and prioritise work accordingly
• decision making skills, the ability to demonstrate sound judgement
• problem solving skills
• A creative and innovative approach to work
• The ability to manage large workloads and tight deadlines
• Attention to detail and accuracy
• Ability to perform well in a pressurised environment
• Strong numerical skills
• Digital literacy

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.