Regulatory Compliance Officer (Marketing and Trading)

Our client, a major oil and gas operator, are currently hiring a Regulatory Compliance Officer (Marketing and Trading) to join the team in London.

Purpose of Role:
This position will be responsible for monitoring trading activities to ensure compliance with relevant regulations. The role will involve collaborating with the marketing and trading, and marketing and trading legal teams to enhance monitoring activities, introduce control processes, and develop risk mitigation strategies.


Critical Responsibilities:
Ensuring that all activities are carried out in a safe manner complying with all regulatory requirements, legislation and HSES Procedures


Ethics and Compliance Responsibilities:
Ensure that all activities and behaviours are carried out in accordance with Ethics and Compliance Policies and Procedures, and to complete any compulsory compliance training as required

Areas of Accountability, Responsibility and Competence:
• Regulatory compliance risk register:
o develop and maintain a risk register to capture the principal legal and regulatory risks (market abuse/financial crime) for the expanded M&T business
o manage and lead risk assessment activities to identify potential M&T Regulatory risks and develop strategies to mitigate them effectively. Be forward looking in seeking to identify risks and making proactive recommendations to the Chief Ethics and Compliance Officer to mitigate/eliminate such risks.
• Policies and procedures to strengthen:
o roll out of key (updated) M&T processes including the Market Conduct Standard and REMIT
 Market Conduct Standard: work to widen the scope and types of offences relevant to M&T activity
 REMIT: formalise the REMIT framework (which will include a policy and a separate procedure) to ensure accountability for responsibilities under REMIT are clearly defined
o updates to other processes including:
 Conflict of Interest Procedure (in development) to restrict personal account dealing / update to the optimisation standard to ensure hardwired limits around non-hedging proprietary transactions
 Transaction monitoring procedures
• Regulatory reporting:
o coordinate regulatory reporting across M&T functions / finalise a responsibilities matrix with:
 middle office as first line team for reporting
 treasury performing the position limit threshold monitoring
 E&C responsible for submitting regulatory / exemption applications
o manage breach reporting and notifications to regulators
o manage the interface with relevant relevant regulators
• Key physical controls to implement and manage:
o Introduce right sized market surveillance systems: introduce manual M&T surveillance system to detect suspicious transactions and/or orders
o Introduce information barriers: introduce information barriers and/or other mitigations appropriate for our Business to ensure compliance with any separation needed of hedging and non-hedging proprietary transactions (and other transactions that could have outsized market abuse risk)
• Training:
o Market abuse training to whole M&T organisation: M&T organisation wide training to reflect the evolution / current and future state of the M&T business
o Market abuse training to traders: training on specific topics to traders to reflect the enhanced risks across expanded business
o Other training/mentoring as required: training to the wider Ethics and Compliance team and to the Legal team and other functions as needed
• Monitoring/Horizon Scanning
o Keep pace with changes in legislation, regulation and market practice. Advise on how to adapt to best effect.
o Ongoing monitoring of M&T regulatory compliance risks, including regular risk assessments and the implementation of mitigating actions. Be forward looking in seeking to identify risks and making proactive recommendations to mitigate/eliminate such risks.
• Record-keeping and application of appropriate retention periods:
o manage M&T record keeping ensuring compliance with relevant regulations e.g. EMIR (derivatives), REMIT (gas supply and gas derivatives),etc…
o ensure that all relevant transaction documents and data (contracts and relevant data to support contracts) meets mandatory retention periods
• Any reasonable instruction from the Line Manager

Critical Skills, Qualifications,
Experience, etc.:
• Bachelor’s degree in law, business administration, or related field is essential.
• Strong understanding of relevant regulations and industry standards.
• Previous experience in a regulatory compliance within Marketing and Trading is essential.
• Strong attention to detail and analytical skills.
• Self-starter, strong initiative and ability to work under minimal supervision
• Excellent communication and organisational skills.
• Ability to work effectively under pressure and meet tight deadlines.
• Ability to handle multiple projects and work in a team environment
• Awareness of HSEQ Policies and Business Management System (BMS)
• Awareness of Values & Business Principles

With over 90 years' combined experience, NES Fircroft (NES) is proud to be the world's leading engineering staffing provider spanning the Oil & Gas, Power & Renewables, Chemicals, Construction & Infrastructure, Life Sciences, Mining and Manufacturing sectors worldwide. With more than 80 offices in 45 countries, we are able to provide our clients with the engineering and technical expertise they need, wherever and whenever it is needed. We offer contractors far more than a traditional recruitment service, supporting with everything from securing visas and work permits, to providing market-leading benefits packages and accommodation, ensuring they are safely and compliantly able to support our clients.