#compliancex

[thewallstreetexecutive]

Global Fintech firm seeks a Head of US Compliance

The position is based in NYC. Candidates should have anti-money laundering, payments, money remittance, and banking related Compliance experience. 

Jack Kelly 212.997.3166. [email protected]

Compliance Search ComplianceJobs.com The Compliance Executive

(via https://www.youtube.com/watch?v=nJqGVgtgAPI)

[jackkellycsg-blog]

Subpoenas, Scandals, Secret Swiss Bank Accounts, the SEC and More

As any loyal reader of ComplianceX, you may have noticed a little trend. Well, actually a huge, gigantic trend of never-ending scandals, whether it is insider trading, FX rigging,money laundering activities or HSBC’s recent tax evasion scandal in its Swiss arm, the commotion seems to never end.

It is not only happening in the U.S. though. Martin Wheatley, the Chief Executive of the Financial Conduct Authority (FCA) is ticked-off about  “staggering” number of scandals emanating from the City (London’s WallStreet).

Here in the U.S., Senator Elizabeth Warren is turning up the regulatory heat by demanding that prosecutors “come down hard” on HSBC for its recent tax evasion scandal in the bank’s Swiss subsidiary.

Some financial institutions are getting worried about this trend as well. Goldman Sachs, in an attempt to stay out of the list of billion dollar fined banks and win back public opinion, is embarking upon a program to limit risky, volatile activities by becoming more “boring.”

As compliance becomes more in demand, research analysts on Wall Street may have to start looking for jobs in this area due to the sad reality that they are becoming disposable, now that a new law is requiring analyst’s pay to come out of the pockets of investment managers for specific work and research.

The good news that comes from these never-ending scandals is that it keeps compliance in the forefront of everything. We can’t complain too much because, not only do we benefit from the increasing number of compliance jobs that are becoming in-demand, but our readers benefit as well because it means more job opportunities.

Unlike the big banks, you can take preventative steps and avoid any problems you may have, and this includes hiring problems!  So go ahead and post your jobs on Compliancejobs.com and be sure to check out our latest article on what recruiters don’t tell you during the job search.

We are very excited to bring you a new and improved job board with the largest selection of Compliance jobs in the world.

Check out our latest YouTube video, featuring Amanda Swain – our Client Development Associate. She provides a wonderful visual explanation of why people should post their Compliance jobs with us.

Please call us at [phone] if you would like more information or have any questions. THE #1 JOB SITE FOR COMPLIANCE PROFESSIONALS Why post your job on ComplianceJobs.com?: -Compliance Jobs has the largest audience of Compliance, Legal and Regulatory professionals in the world. -We realize not everyone wants to work with a recruiter so we have created a cost-effective way to reach your target market and find the -perfect candidate for your job. -While other job boards cater to hundreds of different professions and job categories, we specialize in Compliance jobs and Compliance professionals. -Our job board is niche-oriented and targeted toward those in the Compliance field, so your ad is guaranteed to reach the professionals you want to reach. -Your job posting will appear in front of an active audience of job-seeking candidates that can save your job to their job profile and contact you directly. -We do so much more than just post your position. We make sure your job is in front of a relevant audience so you source only the best candidates. What You Get: -A job posting on ComplianceJobs.com which has had over 1.4 million visitors and 2.9 million page views. -Your job posting will be included on our blog, ComplianceX.com which is viewed by over 275,000 compliance professionals on a monthly basis in addition to being featured in our daily newsletter, The Compliance Exchange, which is emailed to over 110,000 Compliance professionals daily. -The job listing will be actively promoted via our social media outlets including: LinkedIn, Twitter, Facebook and Google+. -The job listing will be aggregated to the largest job boards including, Indeed, The New York Times, Simply Hired, Glassdoor, The Washington Post, Bloomberg Business Week, CNN Money, The Wall Street Journal, The Ladders and hundreds of other sites. -If you would like to give us a banner size image, we will include the image in the job posting and advertise the banner strategically on the ComplianceX blog. -You will have your own personal consultant who will offer creative ideas throughout the posting period to ensure that you listing attracts the best candidates. -Job postings will be refreshed on a daily basis to reach more candidates and a wider audience www.ComplianceSearch.com www.ComplianceX.com www.ComplianceJobs.com

[thewallstreetexecutive]

The Halloween Recruiters Guide to Treating and Not Tricking to Get the Job

[thewallstreetexecutive]

Recent examinations of hedge funds have uncovered a range of problems, a top Securities and Exchange Commission official said, including firms boosting their performance, and the fees they collect, by changing the way they value investments.

Andrew Bowden, the director of the SEC’s Office of Compliance Inspections and Examinations, said the agency has found a series of deficiencies at the roughly 185 hedge-fund firms in which it completed exams.

The findings come as the SEC begins more closely scrutinizing hedge funds, which have historically operated with less oversight than other investment managers.

The agency, in the wake of the 2010 Dodd-Frank financial-overhaul law, has begun requiring a wider swath of hedge funds and private-equity funds to register with the agency and provide detailed data on trading.

[thewallstreetexecutive]

Although I write a blog and publish a daily newsletter, my real job (defined by actually earning and not losing money) is recruiting. With that disclosure in mind, it may seem curious that I am questioning the motivation and the ethics behind certain high-level career changes.

We reported yesterday that the former House Majority leader, Eric Cantor, after losing his last primary election to a Tea Party Republican, has now joined the investment banking boutique, Moelis & Company as a Vice Chairman.

Moelis is a fine firm and I’m sure Eric Cantor’s friends and family consider him to be a great guy. Nevertheless, a Vice Chairman at an investment bank paying $4million should require just a little more. Perhaps a small requirement asked of a new Vice Chairman is that he possesses at least some investment banking experience. That wouldn’t be too much to ask, right? Well, Cantor does not have any real hands-on Wall Street or investment banking experience. Before you ask, no, experience doesn’t include receiving political contribution checks from banks and fat cat Wall Street executives.

So, why would the investment bank spend $4million on him? Simply, to help navigate government and regulatory issues and call in favors. In the current highly regulated environment where multi-billion dollar fines are becoming common place, it is a reasonable and smart investment to procure some government inside information and protection.

Another high profile instance of the government/banking revolving door involves a giant Russian bank.

The United States recently enacted sanctions against Russia in response to their aggression into the Ukraine. In light of President Obama’s strong rebuke of Russia’s actions, you would think that no one would want to work with any company associated with Russia, even if they were permitted.

Evidently sanctions and teetering on the brink of World War III didn’t stop former Senate Majority Leader Trent Lott and former Senator John Breaux from cashing in on their government connections and start lobbying for Gazprombank, one of Russia’s largest banks.

According to filings, the former Senators will focus on banking laws and regulations “including applicable sanctions”.

34 years in Congress and now former Senator Lott is helping a sanctioned bank weasel out of restrictions.

As a recruiter I whole heartedly support the freedom of movement for professionals. Although, perhaps there should be some limits placed on former top government officials from shamelessly cashing in on their prior cushy political positions.

[thewallstreetexecutive]

With all the sexy scandals in the post financial crisis era we have forgotten some of the awesome Rogue Traders of the past.

Here is a name you may dimly remember, Jérôme Kerviel. No, nothing? He was front page news five years ago as the guy who almost singly handedly blew-up the big French bank, Société Générale, by executing unauthorized trades.

Kerviel, one of the top Rogue Traders of all time, was sentenced to only three years in prison for losing nearly 50 billion euros and destroying a major long-standing bank.

Harsh critics of America’s nonchalant view towards prosecuting banks should pay close attention to France’s laissez-faire attitude.

Kerviel was allowed to wander around Europe while his trail slowly meandered through the French court system culminating in a bizarre meeting with the Pope to protest against the financial markets.

Then, the tough scary stuff happened.

Jerome was remaindered to prison and had to serve 5 whole months. It gets worse, a French court has just released Société Générale’s rogue trader Jérôme Kerviel from jail allowing him to serve out his remaining three-year sentence comfortably at home with wine and baguettes. This is not as easy as it appears, Kerviel will have to wear an electronic monitoring bracelet that may clash with his pajamas.

Mon dieu quelle horreur!