The Regulatory Change Identification Lead (“ID Lead”) will serve as the primary responsible party for monitoring Regulatory Changes (“RCs”) issued by regulatory authorities as defined in Financial RM Scope in the RM Procedures. ID Leads will identify RCs through multiple channels including, but not limited to, monitoring websites, direct email notification from a regulator, and paper correspondence. Further, ID Leads will work with a third-party subscription service/vendor (via a law firm or aggregator services) to review the RCs identified by the vendor in the External Source Intake queue for assignment for applicability determinations. Responsible for updating content in the Financial Regulations Inventory (FRI) in accordance with minimum standards established in the program documentation

ID Leads provide an initial extra territorial regulation (ETR) designation, that is further confirmed by ETR Advisory.

Upon identification of a RC, ID Leads will create RC records.

Key Activities include:

• Review LRRs identified by third-party horizon scanning vendors, subscription services and manual monitoring of assigned Regulatory Authorities to identify RCs.
• LRRs identified by third-party horizon scanning vendors are dispositioned as potentially applicable or not applicable
• ID Leads will perform manual identification of RCs when a third-party subscription service/vendor (e.g., CUBE) is not available.
• Complete scope questions in Reg Intake in CR&C. If necessary, seek guidance within Legal or ICRM.
• Upon identification of an applicable RC, create and submit a Regulatory Change Identification Record in CR&C-RC.
• The record will include, but is not limited to, the name of the change, a summary of the change, jurisdiction, regulator, compliance date, GRC Risk Taxonomy, whether the Regulatory Change is an ETR, URL of the regulatory text from the official regulator source (pdf may only be used when an official regulator source URL cannot be found). The system calculates the risk tier based on certain data elements entered by the ID Lead.
• Timely execution of tasks in accordance with Metrics/KPIs due dates
• Where they are the task owner or co-owner, escalate to relevant senior management where these tasks are expected to be and/or are in 'Overdue' status, in accordance with established, Program-defined governance and escalation protocols.
• Modify and submit updates to existing Publication and Obligation data, where applicable, in the FRI resulting from a regulatory change or internal request.
• Create and submit new Publications and Obligations, where applicable, for new laws, rules and regulations resulting from a regulatory change.
• Ensure all modifications to the FRI meet the minimum standards for the Regulations Management program.
• Complete updates to the FRI in accordance with established key performance indicators (quality and timeliness)
• Support remediation projects and re-structure projects of the FRI content.

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Job Family Group:

Legal

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Job Family:

Legal Professionals

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Time Type:

Full time

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