Compliance Officer – Indices/Benchmark Administration
New York, NY
Posted Oct 27, 2021 - Requisition No. 96900
Bloomberg’s Legal & Compliance Department plays a critical role in supporting our businesses and operations around the world. We move quickly and thoughtfully to help address a variety of complex legal issues that arise across the Company’s various businesses. Our team is made up of talented and hardworking professionals who think creatively and work collaboratively in an open environment to deliver results, drive innovation, and solve difficult problems. Diversity and inclusion are essential to our success, and we strive to maintain an environment where our employees are empowered to make an impact. We also recognize the value of diversity and inclusion in cultivating a supportive workplace and the importance of giving back to our communities as evidenced by our award-winning pro bono program!
We are looking for a person with indices experience to join our Compliance team in support of Bloomberg’s Index business, which offers financial benchmarks and strategy indices. This role will be based at our New York City office and be the primary US-based compliance coverage for this business (working alongside a larger, London-based team).
What’s the Role?
You will be part of the global Index Compliance team providing support to Bloomberg’s global Index business, which offers financial benchmarks and strategy indices. The role will focus on coverage of Bloomberg Index Services Limited (“BISL”), which offers products globally, and is authorised by the UK FCA as a benchmark administrator under the UK Benchmark Regulation ("BMR"). The ideal candidate will have regulatory as well as product knowledge and experience with regards to indices, financial benchmarks or related products within the financial markets; be familiar with relevant IOSCO principles, as well as FCA and European rules and requirements; and be able to implement regulatory compliance policies, governance and controls. Good communication and interpersonal skills are essential, together with the ability to work as part of a team, with a real drive to add value to the firm.
We'll trust you to:
- Work alongside the global lead and compliance team to increase the profile of the compliance function within the business
- Provide guidance on and implement controls relating to regulatory requirements and expectations for financial benchmarks and indices, including BMR and relevant IOSCO principles
- Provide subject matter expertise on US regulatory actions and expectations (e.g., from US SEC) with respect to index operations, disclosures, and other compliance or control requirements
- Implement compliance governance and controls
- Draft, update and review compliance policies in line with regulatory requirements
- Prepare and implement procedures manuals
- Conduct reviews, testing and verification of compliance controls on a regular basis
- Provide second-line review of benchmark methodologies, disclosures and marketing content
- Participate in design and testing of benchmark input data controls, and provide second-line review as part of the controls process
- Prepare reports for regulatory bodies and internal management
- Identify potential enhancements in processes and play a role in implementing system changes
- Work with the compliance team to draft responses to regulatory enquiries and assist in managing regulatory relationships
- Horizon scanning for regulatory changes and their potential impact on the product and business
- Provide advisory compliance services to the business
- Develop and streamline new and existing compliance processes
- Act as the second line of defence in a dynamic, forward thinking business
- Plan, prepare and conduct continuing education for business stakeholders
You'll need to have:
- Familiarity with the financial markets and UK and EU index-related regulatory developments, particularly the BMR, as well as IOSCO principles, and US regulatory index expectations
- Working knowledge of indices and financial benchmarks
- Strong communication and interpersonal skills
- The ability to advise on regulatory changes and developments
- Experience in drafting policies, procedures, and manuals, along with preparing reports for regulatory bodies and internal management
- An analytical mind, the ability to solve complex problems and streamline processes
- Juris Doctor degree or industry experience in a Compliance role covering indices and/or benchmarks
We'd love to see:
- A desire to be part of a team in a dynamic and fast-paced organisation
- A track record of working with and advising senior business people on compliance matters
- Working knowledge of product or index production processes
- Experience of identifying and managing risk, including risk framework and issue management
If this sounds like you:
Apply if you think we're a good match. We'll get in touch to let you know what the next steps are.
Bloomberg is an equal opportunities employer and value diversity at our company. We do not discriminate on the basis of race, religion, colour, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.