Compliance Products Specialist

Date Posted: Postedhace 23 días
Madrid, Madrid provincia

Job Description

Compliance Product Specialist
Working in the Compliance Department as part of the CIB BLC:
  • The person in charge of this role will have to evidence deep knowledge and understanding of complex MIFID products and in particular derivatives, and its mechanics, strategies, and trading styles. Knowledge of applicable Regulation (MIFID regulations) will be highly valued. The Product Specialist will have to become familiarized with all Complex products, included OTC Derivatives DB Group & DB SAE related policies and procedures, as well as controls deployed in each DB Group Division related to such transactions, in order to enhance, if needed, such procedural and control framework, and better assist the Business and Infrastructure functions in their eventual remediation plans to comply with Regulators’ expectations, recommendations, findings and requests, as in certain cases these may imply the amendment or adjustment of such policies, procedures and/or controls to meet Regulators’ expectations/requests related to such complex products. Eventual Complex Products related 2LoD Compliance monitoring tasks will also be performed by this role.
  • The overall mission of this role will be to assist BLC and the Regulatory Management Function, in detecting DB SAE complex products and OTC Derivatives related potential regulatory risks for which the compliance function is risk type controller, when as a result of monitoring or controls such risk may be identified, and avoid not complying in a timely and consistent manner with Regulatory Requests and Findings, the Bank may expose itself to the Regulators’ admonitory warnings or sanctions or disciplinary proceedings.
Main responsibilities
The Compliance Product Specialist will assume full responsibility in the support of BLC control assessment, monitoring, reviews and analysis related to OTC Derivatives, Structured Products and complex products in general, with the aim of ensuring a timely and consistent compliance with the regulation and DB Group and DB SAE policies and procedures and eventual Regulators’ recommendations, findings & requests, while at the same time advises the Business Lines Compliance and the Business itself and Infrastructure Functions about complex products related matters, hence, the following tasks included:
1. Support the Business Lines Compliance (CIB, IPB & DWS) in the fulfilment of the overall mission to manage properly complex products related risks, ensuring a proper compliance with Regulators’ expectations, recommendations, and requests: 
Deploying a constant and pro-active regulatory watch for complex products and structured products/OTC Derivatives matters.
Strictly Confidential 
Providing support to Compliance in the assessment of complex MIFID products and specially OTC
Derivatives related matters. 
Hence, the Product Specialist will be the local Compliance Subject Matter Expert for complex products 
Ensuring a periodic follow-up of outstanding remediation plans, checking the status and progress, and
challenging accordingly the eventual lack of information or cooperation from any related party
responsible for the closure of such requests/findings 
Conducting monitoring tasks related to DB SAE complex products and OTC Derivatives activity,
assessing results of such monitoring and preparing related MI and reporting. 
When required, support periodic reporting processes and escalation on any relevant event related to
the evolution of related requests/findings and associated remediation plans & making internal Global
reports related to Complex products and OTC Derivatives status plan.
2. Ensure implementation and maintenance of adequate remediation plans to mitigate any Compliance
related risk associated with Regulatory Requests wrt complex products, as well as application and/or eventual
amendment of policies and procedures and controls, to adjust DB SAE control framework to the Regulators’
requests and expectations. This will imply managing the following roles and responsibilities:
  • OTC Derivatives and Structured Products related Audits, Examinations and RFI’s: as SME, the
Product Specialist will play a central role in the overall management and coordination of such
regulatory examinations and audits
  • Providing advice and expertise on the review of findings and remediation actions proposed by the
Business and ensuring a quality assurance of the content of all related aspects of such findings and
actions (namely Policies, Procedures, Controls and interactions with Regulators).
  • The submission of any complex products information to Regulators in the framework of Regulatory
Interactions, will require the approval of the Product Specialist, as SME.
3. The Product Specialist will undertake and be actively involved in proactive and reactive management and
escalation of all Compliance risks, issues and breaches, and ensure a good coordination and cooperation
with Compliance Testing Function, in order to better manage the adequate and proper compliance with all
Regulators’ requests and findings.
4. The Product Specialist will also provide assistance, when required, in other Compliance matters, to
Regulatory Management Function, and Business Lines Compliance.
The Product Specialist will also, in general terms:
5. Participate in, and provide compliance support to, relevant projects ensuring adherence to related
standards, mitigation of associated risks and strong stakeholder consideration particularly focused on the
client or customer.
6. Support a compliance aware culture within the country, including regular and appropriate local education,
training, and awareness by leveraging related global initiatives.
7. Provide local and regional support to the EMEA Compliance regional and Global Compliance management
teams, as and when required.
The Product Specialist will report regularly to his organizational Manager – Head of CIB Business Line
Compliance and, will also ensure in his daily and on-going activity: 
Compliance with the Deutsche Bank’s conduct standards and professional principles 
General compliance with the relevant laws, rules, regulations, directives and DB Group standards
across the activities and business operating model of Spain, that fall under the Compliance risk types 
Identification of any significant risk exposures and material incidents of non-compliance and
accordingly, deployment of appropriate measures to address any gaps or deficiencies
Strictly Confidential
Profile considerations
  • Fluent in written and spoken English
  • Experience – more than 5 years- working in relation with Structured Products or OTC Derivatives in a local
or international financial institution in the Front Office, or within First Line of Defence or within Operations
or Control Function or alternatively as Consultant. Such experience will allow the candidate to have a deep
knowledge and understanding of the Derivatives “world”.
  • Certain knowledge of applicable MIFID Regulation will be appreciated.
  • Able to handle stressful situations with internal clients and regulators whilst maintaining a professional
approach to problem solving
  • Able to work in a matrix structure and adopts a hands-on and proactive approach
  • Able to partner with Compliance peers and other advisory, risk and control functions
  • Possesses and demonstrates integrity and discretion
  • Has affinities with Audit or experience in risk management – desirable but not essential.

Our values define the working environment we strive to create – diverse, supportive and welcoming of different views. We embrace a culture reflecting a variety of perspectives, insights and backgrounds to drive innovation. We build talented and diverse teams to drive business results and encourage our people to develop to their full potential. Talk to us about flexible work arrangements and other initiatives we offer.
We promote good working relationships and encourage high standards of conduct and work performance. We welcome applications from talented people from all cultures, countries, races, genders, sexual orientations, disabilities, beliefs and generations and are committed to providing a working environment free from harassment, discrimination and retaliation.

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