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PERM - CPD - Electronic Trading & Algo Advisory Compliance Officer - Vice President

Sumitomo Mitsui Banking Corporation
London, London, United Kingdom
Closing date
17 Aug 2024

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Engineering, IT, Security
Job Role
Job Type
SMBC: A trusted partner for the long term

Our internal opportunities aim to grow you professionally and personally. Be curious, expand your network and explore how your skills and knowledge can transfer into different roles and areas of SMBC. Even if your experience doesn't perfectly align with the job description 100%, we still welcome your application. Find the resources and support available to help you transition your career and flourish on our Internal Mobility page.

Section 1 - Details

Job Title / Corporate Title

Electronic Trading and Algo Advisory Compliance Officer / Vice President

Department / Group

Compliance / London

Responsible to / Line Manager

This should be a role title, not a named individual.

Head of Public Side Compliance Advisory

Direct Reports

This is about scope of the role. Please include job titles and the reporting relationship.



London Office

Date Prepared

London 2024

MiFID Knowledge and Competence


Certification regime

out of scope

Section 2 - Purpose of Job

Compliance Advisory is one of the key functions in ensuring the bank is compliant in meeting regulatory expectations in complying with all relevant laws, rules and regulations which apply to the Bank and Capital Markets. Compliance is required to protect SMBC group entities in the EEA and their employees from regulatory censure and ensure positive outcomes for its customers and markets by enabling the business to meet its risk preferences and statements relating to compliance risks and embed a compliance culture in the firms' day-to-day activities.

To support the Bank's sustainable growth strategic approach, the Compliance Advisory Vice President, as a conduct and product expert is responsible for providing advice and guidance to the Front, Middle and Back Offices with particular focus on advisory related to complex existing and new product areas representing significant risk including capital markets products, corporate banking and securitisation. These product areas require proactive and effective interaction, and the role is expected to act as a subject matter expert and provide credible challenge to a range of stakeholders including senior management.

In addition, the role holder is expected to contribute to the comprehensive policy framework across the group entities relating to conduct and the prevention of market abuse and related projects for or on behalf of the Compliance department.

Section 3 - Background

The regulators require regulated firms to have an appropriate compliance function, with an appropriate number of competent staff who are sufficiently independent to perform their duties objectively.

Under the supervision of senior management, the Compliance Department performs the compliance oversight function. The Compliance Department also liaises with compliance teams throughout the SMFG Group (Bank and Capital Markets) to ensure that they are compliant for local and head office matters, as well as tasks under SLAs with other offices.

Compliance Advisory is responsible for acting as key point of Compliance contact for the business and helps by advising and interpreting rules. Compliance Advisory also engages and promotes close collaboration with other SMFG entities globally, in particular those that engage in or perform activities impacting the Securities and Trading activities.

Key Stakeholders:

All areas of the business which includes:
  • Front, middle and back office, with a stronger focus on the Front office business areas, as appropriate;
  • Information Technology and Data Management
  • Front Office Quants
  • Head of Compliance
  • Colleagues in offices in Americas, Asia and Japan
  • SMBC Group Companies worldwide;
  • Clients throughout the EEA;
  • Industry and Financial Regulators;
  • Auditors (both Internal and External);
  • Compliance functions within the SMBC group;
  • Local and Head Office Committees (including Executive Committee).

Section 4 - Facts / Scale

The role would have responsibility and oversight of the Electronic Trading activities across all asset classes in particular Treasury, FX, Fixed Income, Equity and Derivative markets for the Compliance Advisory team as a specialist knowledge expert (SME). The role holder would have proven experience of advising on implementing a risk, governance, and controls framework for Electronic and Algorithmic trading initiatives at a leading financial institution and carrying out compliance controls related to such activity.

Create and implement a controls assessment and monitoring framework that works across the three lines of defence, to ensure regular and ongoing testing of all Electronic and Algorithmic Trading tools, reporting material failing, key developments or strategic changes to appropriate escalation forums.

Provide regulatory compliance advice to stakeholders across the three lines of defence on regulatory obligations pursuant to:

- Electronic and Algorithmic Trading initiatives.

- Trading activities on Trading Venues and work with various stakeholders to create a robust target operating model with respect to Trading Venue governance.

Assessment of risk and control effectiveness for Electronic and Algorithmic Trading in compliance with applicable rules and regulations. Acting as an independent review and challenge function in the production of the Annual Risk and Controls Self-Assessment (MiFID RTS6) and other periodic regulatory and/or audit assessments.

The role will require timely identification and escalation of all realised and potential regulatory and/or operational risks, with coordination of stakeholders across the Front Office and support functions, to ensure remediation and mitigation of open risk items.

Analysis and interpretation of new or updated regulation, providing guidance to the 3 Lines of Defence to ensure adherence with applicable rules, regulations and market practices.

Resolving queries and responding to questions from the Front Office and other internal and external Stakeholders in a timely and accurate manner.

Advising the business on matters such as handling and reviewing alerts, errors, losses, and other operational risk incidents as well as full root cause analysis.

The role holder is expected to provide SME input on projects and initiatives relevant to Electronic and Algorithmic Trading, including but not limited to; policy development, training and competency enhancements, production of management information and reporting to senior management.

Section 5 - Accountabilities & Responsibilities
  • Act in role of trusted advisor for compliance matters across the relevant product areas through specialised regulatory knowledge and interpretation of the rules;
  • Individual will act as dedicated and specialised Compliance Officer for designated Electronic and Algorithmic Trading activities including the matters concerning Trading Venues Governance for the Fixed Income, Equities, Derivatives and FMD businesses;
  • In conjunction with other members of the Compliance team contribute in the design and implementation of an effective Compliance Risk Assessment program; implementation of an Annual Compliance Plan; and execution and reporting of the Compliance Monitoring program;
  • Lead by example and cultivate a positive compliance culture across the universal bank by implementing proactive engagement with stakeholders and providing appropriate advice, instruction and influence where needed to mitigate the risk in the private side business area.
  • Be a key member of team to progress and communicate the department's Conduct Risk Agenda;
  • In collaboration with the Training team, act as a subject matter expert for the design and delivery of Compliance Training material;
  • Interpret, develop and update relevant Compliance Policies, Departmental Procedures and internal Compliance Department processes to reflect regulatory rules, organisational policies and other regulatory inputs;
  • Review and approve client presentations and other marketing materials;
  • Provide appropriate MI for areas of primary responsibility and as needed for other external reports or information gathering exercises;
  • Provide compliance services to other offices as required under SLAs as well as relevant MI.
  • Get involved in ad hoc Compliance and firm wide projects as required on behalf of Compliance by taking ownership of deliverables as well as acting as the compliance subject matter expert.
  • Contribute as an expert to EMEA wide compliance projects when necessary.

Section 6 - Knowledge, Skills, Experience & Qualifications
  • Recognised subject matter expert in Electronic and Algorithmic Trading and Trading Venues from an advisory and project management perspective.
  • Demonstrated understanding of relevant existing and expected regulations for a universal bank and experience of advising businesses on how to comply with laws, rules and regulations as well as investigating potential or actual breaches relevant laws, rules and regulations.
  • Prudential risks and financial conduct areas
  • Excellent verbal and written communication skills.
  • Ability to work independently and as part of a team.
  • Able to build relationships and have good rapport with.

Section 7 - Challenges (This section is optional)

Prioritising urgent business requests and meeting key regulatory and internal project deadlines

Section 8 - Dual-Hatting
  1. Dual-Hat Details (only required if different to the employing entity details)

Dual-Hat Job Title:

Dual-Hat Line Manager:

Dual-Hat Direct Reports: None

Dual-Hat Certification Regime: N/A

  1. Dual-Hat Roles and Responsibilities

You will be required, from time to time, to undertake tasks on behalf of the dual-hat entity, as necessary.

  1. Dual-Hat Conflict of Interest
  • You will have responsibilities for both SMBC BI and Capital Markets
  • You will be required to perform your duties and responsibilities on an entity neutral basis, without favour
  • You are required to follow regulatory requirements applicable to ensure each business is appropriately supported and to maintain the legal entity integrity of each of SMBC BI and Capital Markets
  • Working terms are dictated by functional mandates in place between SMBC BI and Capital Markets and any other relevant agreements entered into between SMBC BI and Capital Markets

We value the uniqueness of professional and personal, backgrounds and perspectives as they play a vital role in continuing our sustainable growth as an organisation. If you're in need of reasonable adjustment to the recruitment process due to disability or long-term condition, just let your recruiter know.

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