The Office of Legal Obligations (OLO) program is a firm-wide, global initiative that brings together the expertise of Legal, businesses, Business Control Management, 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, in which a Legal and Regulatory Change Management (LRCM) framework has been established, to ensure that the inventory of laws, rules and regulations relevant to global Markets businesses held in the Enterprise Library Application, or ELA database, is kept up to date to reflect the impact of constant business and regulatory change.
The role is within the Markets Business Controls Management (BCM) organization, supporting the global Markets business across Sales, Trading and Research.
The Markets LRCM Associate will be responsible for the completion of LRCM-related BAU tasks, including mapping legal obligations to the policies, procedures and other evidence that demonstrates how Markets meets these legal requirements.
Mapping Execution activities will involve working extensively with a diverse set of global stakeholders, including Legal, Compliance, Business Control Management and other stakeholders.
The team’s activities cover 24 jurisdictions (8 languages), with further scope expansion expected.
The position reports into the global Markets LRCM Support lead.
Responsibilities of the position include :
Regulatory Change activities
The bank has established a Legal and Regulatory Change Management framework, 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.