The Office of Legal Obligation (OLO) program is a firm-wide, global initiative that brings together the expertise of Legal, Lines of Business (LoBs), Oversight & Control, Compliance, Risk and other key control functions, to proactively manage regulatory changes in our operations and allow us to trace end-to-end connections between laws, rules and regulations on the one hand, and our policies and procedures that demonstrate compliance on the other.
The OLO program has been running since 2017, and is now transitioning into a BAU’ state, which will require OLO and Legal and Regulatory Change Management (LRCM) activities for the global Markets (Sales, Trading, Research) business to be supported in perpetuity.
The role is within the Markets Controls organization, supporting the global Markets business. The global Markets LRCM Support lead will lead a team of specialists responsible for the completion of OLO and LRCM related BAU tasks, in addition to further support of the overall Markets Regulatory Change framework.
Mapping Execution activities will involve working extensively with a diverse set of global stakeholders, including Legal, Compliance, Business Control Management and other stakeholders on a global basis.
The LRCM Global Support lead will be responsible for leading and executing this work for Markets businesses based in 24 jurisdictions (8 languages), with further scope expansion possible.
The position reports into the global LRCM lead, based in London.
Responsibilities of the position and team include :
Mapping Execution ( OLO’)
Capture the above in the firm’s system of record, ELA’ Overseeing the above for direct reports
Regulatory Change Management ( LRCM’)
The bank has established a Legal and Regulatory Change Management program, to ensure the mapping of legal obligations in the ELA database remains up to date in the face of business and regulatory changes.
The LRCM Global Support team will, in addition to owning obligation related activity as outlined above, contribute to the LRCM program’s activities. This may include :
The scope of these reg change management activities is likely to increase over time.
The future activities of the Buenos Aires team are currently performed by staff in primary locations (London, Singapore, Hong Kong, New York).
The LRCM Global Support manager will be responsible for the effective migration of the in-scope activities to Buenos Aires.
This includes, but is not limited to :
recruiting Skills and knowledge matrix assessment Knowledge transfer plan from primary location existing staff Training plan Markets business knowledge CORE structure Markets procedures CIB and Corporate OLO mapping standards for obligations Development of local operating model and documentation of such in SOP(s) QA processes Inputs to mapping and assessment process including business footprint files, L&R matrices, inventory of relevant procedures, policies and other supporting documentation Completing IAS and other internal policy approvals, as required Governance framework to allow adequate oversight of offshored function SLAs, MIS, escalation protocol etc Success and exit criteria to progress to BAU state
Program & Team Management (BAU)