MD/Head of Regulatory Reporting, Op/Market Risk, AML & Surveillance: Now Needed

See Herbie's Job Search Tips.

Morgan Stanley now has a hiring freeze for Investment Bank for the remainder of 2010 - reported by Bloomberg among others. View 9/27 article. Institutional Investor noted MS joined 'investment banks that have taken steps to modify staffing amid revenue declines from dampened trading volumes.'

Rosenthal Recruiting now seeks a Senior Consultant for Op Risk. This is based in New York along with two additional Senior level Consultant roles 1> MARKET RISK and 2> Credit Risk. The openings are with a Global Consulting and Internal Audit leader. The firm includes leaders in finance, accounting, risk, compliance, technology, litigation, investigations and restructuring. It positions itself to compete ‘more nimbly and be more ‘adept’ than the Big 4.

Also NOW NEEDED HEAD of REGULATORY REPORTING - this is a Managing Director/Senior Vice President role in Stamford, CT.
The MD role is Senior, base salary up to $250+ and oversees an opening for a AVP and VP of Financial Regulation - must know SEC Rules 15c3-3, 15c3-1.

A summary can now be viewed in Accounting Jobs and Connecticut Jobs. Another recent job?
AML and Account Surveillance - International Bank Broker-Dealer - New York City


Please view and apply for all posted opportunities by Rosenthal Recruiting. Please call (973) 826-0537 or send an email to: Stuart@RosenthalRecruiting.com to personally discuss any opportunities. You may also submit your resume and receive a prompt response. Click to read Herbie's Job Tips...read how you SHOULD FREQUENTLY review and fine-tune every element of your employment search, from résumés to thank-you notes. Review a checklist, take a good look, perhaps next to a hot beverage as Herbie is seen this picture.

Florida Salon Novel Ways to Weather Business Conditions

 

East Side Creative Hair Salon in Boynton Beach, FL has come up with a number of creative ways of cutting back on its payroll and helping its bottom line. Not only creative but these ways are a win-win for all – please read on.

East Side owner Rosemarie Clark recently implemented a volunteer program that provides gives much sought after work experience to Students enrolled in a local Cosmetology School.

The Students, who all are enrolled in a mentor program that East Side takes part in, not only learn in a Professional salon environment, they gain very important hands on experience. The East Side Creative Hair Salon Mentoring Program offers experience in several job categories including as a Shampooer, Bookkeeper, and Receptionist.

This program has proven very helpful as when these Cosmetology students graduate and then seek their first jobs -they have experience that most employers require.

Learning the salon crafts under Rosemarie and Kenneth Clark who have operated EAST SIDE CREATIVE HAIR SALON since 2002 has proven very valuable for job seekers in today's challenging job market.

Beyond the job experience, the Students who work for three (3) or more hours each week are eligible for free hair services from East Side's experienced Cosmetologists.

On the positive side for the Salon owners, saving on payroll costs helps the bottom line during the nation's economic downturn.

Do you have any other sample of small businesses who have made key decisions in the current economic environment?
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Family owned East Side Creative Hair provides salon services to patrons looking for salon services at affordable prices provided by experienced cosmetologists, educated in maintaining the health of the hair and scalp. All done in a clean and friendly atmosphere.

 

Website is http://escreativehs.com

 

The Salon has a Facebook page and the photo shown is from its album titled Salon Models Summer 2010

By East Side Creative Hair Salon · View Photos

 

Salon Hours
Tuesday - Friday {9:00 to 6:00}
Saturday {9:00 to 3:00
Sunday & Monday {Closed}
Appointments encouraged.
{561-737-1880}

Located at
614 No. Federal Hwy, Boynton Beach, FL 33462

On the east side of Federal Hwy
No. of Boynton Beach BLVD.

AML & Retail Account Surveillance Analyst, Financial Regulation (AVP) Openings

AML and Retail Account Surveillance at the Analyst level now needed.
Compensation: Base 80-95K + Bonus, Midtown NY office, Broker-Dealer part of established Bank.

As re-tweeted this morning:
New #Job #AML #Compliance, SERIES 7, 24 Retail Surveillance exp. reqd #NYC Apply w/ e-mail to: Stuart@RosenthalRecruiting.com

Original Tweet on Fri and prior tweets http://twitter.com/StuartRosentha
New #Job #AML #Compliance Officer, SERIES 7, 24 retail brokerage surveillance exp reqd Location #NYC Apply via e-mail http://bit.ly/caHcdo
Requirements:
•Ensure that activities are in compliance with applicable laws, rules and restrictions of the SEC, FINRA, Federal Reserve and state securities regulations.
•Ensure that the Compliance Manual and Supervisory Manual amendments are timely circulated to appropriate personnel as laws, regulations and procedures are changed.
•Coordinate training and Continuing Education (CE) of personnel.
•Conduct daily surveillance review of brokerage activities.

Minimum qualifications:
•7 years experience, Bachelor's degree, Series 7 and 65 licenses; 24, preferred
•Excellent organizational, interpersonal, written and verbal communication skills
•Strong PC skills, MS Applications

Another new opportunity is a position for a Compliance Examiner. A candidate should have internal or external audit experience, preferably in Capital Markets. Corporate Title - Vice President (VP) Base Salary target: $125,000 to $140,000

A Financial Regulation (AVP) role focused on SEC Rules 15c3-3, 15c3-1 Salary 125K - will be responsible for:
• Preparing the SEC Rule 15c3-1 Net Capital computation for a US Broker Dealer.
• Preparation of Weekly SEC Rule 15c3-3 Customer Reserve calculation.
• Monthly preparation of FOCUS report

To read more and apply for this opportunity please click here or send a WORD resume by email to: Resume@RosenthalRecruiting.com

Registration Compliance Officer - Bank Holding Compliance Officer, among current Openings

Bank Holding Compliance Officer:
This opportunity is a permanent Vice President role with a well-regarded US-based Firm known more for Investment Banking. A candidate must show Bank Holding Company, Federal Reserve and/or other Federal Bank agency work experience.

With the support of Legal and Compliance, the responsibilities include monitoring to ensure full compliance with Federal Reserve laws and regulations, internal policies and procedures and report discrepancies to Senior Compliance Management. See More & Apply at Job Board.

Registration Compliance Officer - CRD, CE etc.
Prestigious Investment Bank
Posted: September 3, 2010
Address: Stamford, CT 06907
Full-time, Permanent
Description:
Responsible for coordinating regulatory, licensing and other legal and compliance tasks to ensure employees are registered and licensed as required. Assist and support Senior Regulatory, Legal and Compliance colleagues in all matters related to SEC and FINRA compliance.

RESPONSIBILITIES:
Manage the licensing of employees and related ongoing compliance matters in connection with activities for licensed associates.

Manage, obtain and maintain registrations, including continuing education for licensed associates and reviewing confirmation reports regarding continuing education exams. CE Notices; Tracking CE compliance; RV confirmation reports re: CE exams. See More. Apply, Inquire.

Chief Privacy Officer (CPO) Needed | PCAOB Seeks PUBLIC Hearings | Muni. Advisers Must Register w/SEC by 10/1

The SEC announced on 9/2 that it adopted a temporary rule requiring municipal advisors to register with the SEC by October 1, a deadline established by the Dodd-Frank Act. Municipal advisors can access and complete the new registration form (Form MA-T) on the SEC website.

Separately, as WSJ reported on 9/3, the U.S. board overseeing Company auditors has sent a draft bill to Congress to make its enforcement proceedings Public.

Privacy sector JOB Opportunity
Chief Privacy Officer (CPO)
This job is located close to Philadelphia in NJ. A excellent opportunity for for the right person located near Cherry Hill, NJ Center City Philly or the Main Line. Please share w/anyone who has contacts within a Large Bank or with a Privacy specialty.

CIPP qualification preferred, not required.
This job listing is posted on the Rosenthal Recruiting Job Board.
To apply, review or forward a Job please 1) Click to view the complete Job Description 2) E-mail resume and cover letter to Stuart@RosenthalRecruiting.com or call (973) 826-0537. For more information please view the Job Board.

The Public Company Accounting Oversight Board (PCAOB) proposal would repeal a requirement that its disciplinary actions remain secret, according to a copy of the document reviewed by Dow Jones.

In Privacy News this past week, as the public now is denied access to information about accountants that have been sanctioned or charged by the PCAOB, acting Chairman Daniel Goelzer wrote a letter on Aug. 24 to members of the Senate Banking Committee and House Financial Services Committee.
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Going Concern's Caleb Newquist added that 'despite the setback that was the creation of the PCAOB, the Big 4 have to be pret-tay, pret-tay, pret-tay pleased with the privacy they get when it comes to the Board’s disciplinary actions. Perpetually-acting chair Dan Goelzer wrote a letter to the Senate Banking and House Financial Services Committees saying that by keeping the proceedings mysterio and out of the public eye. The current arrangement “gives firms and auditors an incentive to drag out litigation, sometimes for years,” and that simply won’t do.

Despite the general public’s disinterest in all things accounting (until the shit hits the fan, of course), the Board is still trying to find its place as the relatively new kid on the bureaucratic block."

HELP WANTED: "Fund Czar" "Top Fund Cop" aka S.E.C. Director of Division of Investment Management

Did you notice that last week the S.E.C. announced that Andrew "Buddy" Donohue - the agency's Director of the Division of Investment Management - will step down in November?

As Chuck Jaffe, of MarketWatch noted in a recent column, the typical fund investor hasn't got a clue who Donohue is or what he has done in his SEC job over the last four years. Jaffe added that since industry insiders argue over whether the director of the Division of Investment Management should be called the agency's "fund czar" or its "top fund cop," there's no denying that whoever has this gig has the potential to influence a lot of key issues facing the fund industry today.

Donohue, who was global general counsel at Merrill Lynch Investment Managers before joining the SEC, was credited by the agency with improving the oversight of money-market funds, as well as for his efforts to overhaul 12(b)-1 fees in the fund industry.

Since Donohue is leaving at a key time in the evolution of mutual funds, whoever replaces him faces big issues with the potential to change the way individual investors interact with fund companies and feel about funds and financial advisers.

A primary issue is Fiduciary responsibility for advisers. On the surface, this does not seem to be a fund issue, but it clearly is. The dirty little secret of financial advice is that only some types of advisers have a fiduciary responsibility to their customers, meaning they are required by law to put their client's best interests first. Other types of adviser, most notably people acting as brokers, must adhere to a "suitability standard," meaning an investment merely must be suitable, rather than "in your best interest."

Congress was wrestling with this issue, but booted it out of the financial-reform package and kicked it over to the SEC to study by January, with proposed rules to follow soon thereafter. The new big cheese at the Division of Investment Management will have a lot of say here, and if he chooses not to protect investors on this one, it will send a big message that the new top fund cop is soft on protecting consumers and in bed with the brokerages and insurance companies.

Here are the rest of the issues that a new fund czar must help to steer and shape as listed by Jaffe in his Aug 22 Marketwatch column.
-Completed reform of 12(b)-1 fees
-Revenue sharing between funds and advisers
-Rapid trading in exchange-traded funds
-Regulate 'alternatives' that the fund world uses to dodge rules

Wanted: Chief Data Officer for US Federal Govt. Data Skills Not Necessary

President Obama has a year to decide on which person will occupy the post of Director of the Office of Financial Research (OFR).


Before that Congress must ratify. Should the individual have previous Washington experience? A former White House executive, Congressman or say Treasury official. What about Wall Street experience and if so what kind?

As noted by Chris Kentouris in the Securities Industry Blog, this job amounts to the U.S government having the equivalent of a Chief Data Officer.

The OFR will be a new agency responsible for collecting data from financial corporations - what the IRS is for taxes. This newly created department will be responsible for collecting whatever data is needed from financial institutions so that the industry as a whole can be analyzed and evaluated for the spectre of systemic risk. In effect, illness in one firm or group of firms will be spotted before it spreads to the market as a whole.

According to the Financial Reform bill, the OFR will eventually issue and maintain two different and very important public databases. One would be a database of the financial instrument types and another a database of financial entities and organizations. The OFR would be linked to a Financial Research and Analysis Center whose job will be to develop intelligence – or actionable data – out of the raw data—so it can identify emerging systemic risks. Congress would get an annual report.

Given its significant role, who should head up the OFR?

The overriding consensus: a minimum 10 years of experience as the former chief executive or chief financial officer of a large Multinational Bank and/or a minimum 10 years experience as the chief risk officer of a large multinational bank. Additional data management expertise ideal but not required.

Michael Atkin, managing director of the NY-based Enterprise Data Management Council agrees that Wall Street experience is critical.

But he doesn’t discount the need for political savvy when it comes to leading the OFR. “It is after all a political appointment so some knowledge of the inner workings of Washington DC would be a plus,” says Atkin, whose group advocates that financial firms understand the importance of maintaining consistent and accurate enterprisewide data.

Atkin’s top three picks for the OFR directorship: the former chief operating officer of a large financial firm who is either retiring, previously left for a job in academia or for a job in Washington, says Atkin.

See more on the this from the Securities Industry Blog

Options Compliance Officer & Chief Privacy Officer, needed | Fortune Poaches for new Wall Street coverage

Senior Options Compliance Officer job listing has been posted on Rosenthal Recruiting Job Board:

Company: Established, respected Investment Bank Broker-Dealer
Where: New York, NY
URL to view more and apply: http://RosenthalRecruiting.jobamatic.com/a/jbb/job-details/369242

Last week, a Chief Privacy Officer opening was posted.
This is a great opportunity with a Bank Holding Company that has a growing global footprint and leading regional banks in it family of subsidiaries.



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If you missed, the Big news out of the financial journalism world last week: Dan Primack (pictured), creator and writer of Reuters' successful private equity newsletter, peHUB Wire, has been scooped up by Fortune as a senior editor on its website.
This summary from BusinessInsider.com, noted that Talking Biz News was the first with the news, reporting that Primack's "hiring coincides with the launch of a new section on Fortune.com called 'Fortune Finance,' which will include news about Wall Street, private equity, mergers and acquisitions and economics."

In a note to staff, Fortune.com editor Daniel Roth adds that "Dan will write a morning newsletter covering venture capital, Wall Street, M&A and other deal-related topics."

Here's a link for the Fortune full memo via veteran reporter, editor, and pioneering weblogger Romenesko, noting: "Dan’s reporting has become a mandatory read in the private equity market —and he’s not bad on TV, either. From his Boston outpost, Dan will write a morning newsletter covering venture capital, Wall Street, M&A and other deal-related topics. If there are investments being made or an exit in process, Dan knows about it and is ready to explain what it means. In addition to the morning newsletter, Dan will also be blogging."

MSRB Counsel (DC) and Blue Sky Attorney (NY) and Prime Brokerage Attorney openings

MSRB is now seeking an Associate/Assistant General Counsel. Part of a legal team collaborating on Rule making/Policy functions of the MSRB, as well as providing advice on internal legal matters. This is on the SIFMA Job Board,


Not yet posted on the Rosenthal Recruiting Job Board - is a job opening with an AmLaw 200 Firm. Seeking 7+ years of experience to work as a Blue Sky Attorney: Responsibility for Blue Sky matters, securities registrations including IPO registration, PIPES, Hedge Funds, state filings, exemption applications, notice filings for covered securities. FINRA tenure and experience required.

Position Overview: Advise on state regulations of private placements, PIPEs, IPOs.-Advise on investment adviser registration and notice filings in states.-Draft legal memorandum and conduct research on Blue Sky law.-Draft documents for private placement offerings and acquisitions.

Please call 973-826-0537, send an e-mail with cover letter and resume to discuss this excellent opportunity with a prestigious Law Firm.


Among other openings we are currently working to fill a Large Investment Bank’s Prime Brokerage Attorney opening. Responsibilities, Requirements for this can be viewed at the Rosenthal Recruiting Job Board. This premier investment bank requires an experienced Securities Counsel, 10+ years, 3+ covering Prime Brokerage and Securities Lending. Will consider someone from a Law Firm.
______________________________
Stuart@RosenthalRecruiting.com
(973) 826-0537
http://RosenthalRecruiting.com

Prime Brokerage Counsel, Corporate Secretary & Financial Services Advisory

Prime Brokerage and Securities Lending Counsel job opening.
This opportunity requires an experienced Securities Counsel covering Prime Brokerage and Securities Lending. Responsibilities, Requirements... more for this job listing can be viewed at the Rosenthal Recruiting Job Board.

Also new: Corporate Secretary opening. This job listing can be viewed at the Job Board. Requires 10+ years experience maintaining Delaware and Cayman Island subsidiaries. Up to $150K.




Click the "Call Me" icon above, enter your name and number, and then click "Connect." Google will first call you at YOUR number, then connect you with Rosenthal Recruiting. Google will connect you for free. W/ a cell phone, carrier may charge for minutes.

As many in the Regulatory space prepare or already engaged on Reform or set up task forces, Rosenthal Recruiting is handling resources for client long term engagements as well as permanent opportunities.

We are now working with a major Professional Services Consultancy for its Financial Services Advisory Practice. Responsibilities, requirements/experience include assisting Asset Management, Investment Bank and Broker Dealer clients with Regulatory Compliance, Risk Management, Internal Controls and Internal Audit. View job description - apply for the Financial Services Advisory Practice, Senior Consultant.

Compliance Examiner, needed in Stamford, CT Fixed Income, Bank and Research Compliance in NY

A NEW opening for a Broker-Dealer Compliance Examiner position is now posted on the Rosenthal Recruiting Job Board. Please go to the post for full Job Description. Requirements include Examination, audit or internal testing experience. Read more/apply. This position will be as an Examiner in the Oversight and Monitoring Group for the Fixed-Income Capital Markets firm. Office Location: Stamford, CT
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Another new job opening this week: Fixed Income Compliance Officer. The job is located in Midtown Manhattan, will pay a $175K base salary for the right candidate. Product and experience requirements include Treasury Securities, Interest Rate Derivatives and other Credit products. Salary 175K + a Bonus Read more/apply.

Director of Research Compliance - job listing was posted yesterday and the Company for this opportunity is a prestigious Investment Bank. Location: New York | Salary $200k Read more/Apply.
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RosenthalRecruiting.com has posted job opportunities and you can Subscribe to an RSS Feed. Recently we have seen Fixed Income, Bank Regulatory roles and a spate of Compliance Officer Control Room opportunities: a number of candidate interviews were held this past week with well-known Investment Banks. You can sign up for e-mail delivery at RosenthalRecruiting.com, follow Rosenthal Recruiting at LinkedIn and/or twitter.

Political, Regulatory Battles Await....Obama: Bill will prevent 'breakdown in our financial system'

The White House sought to rebuff criticism that key Wall Street executives were excluded today from signing for the President's financial reform legislation.

The Hill reports that the administration publicly pushed back against a Washington Post story this morning noting that among the 400 people invited to this morning's bill signing, absent from the list were the CEOs of Morgan Stanley, Goldman, Wells Fargo and J.P. Morgan, among others.

"This is a fake controversy. The CEO’s who opposed reform never expected to be invited to the bill signing and not a single one has complained to the Administration," Jen Psaki wrote on the White House blog. "In fact Administration officials have been in touch with many of the same CEOs about a number of issues over the last few days and this issue has not even registered.
Text of Obama remarks on Dodd-Frank, courtesy of MarketWatch, July 21, 2010 @ 11:43 a.m.
‎

Bringing New Light to Derivatives

The financial overhaul bill, which the Senate cleared Thursday and sent to the president, imposes multiple new regulations on the derivatives market generally and the swaps market in particular. It requires that standardized derivatives contracts be traded on an open exchange, with prices and volumes reported publicly. The contracts must also be cleared through a third party, an intermediary who guarantees that if one party defaults, the investor holding the other side of the trade will still be paid.

Clearinghouses will perform that function by requiring parties in a derivative trade to put up collateral, or margin, to protect against a default. The bill also requires securities firms that trade derivatives to maintain certain levels of capital. Overseeing all this activity is the Commodity Futures Trading Commission (CFTC), in the case of derivatives involving commodities like soybeans, oil or metals, and the SEC for security-based transactions.

Blythe Masters, who oversees global commodities at JPMorgan Chase, said at a conference on Thursday that in many respects the changes “are actually going to be very beneficial for the industry and derivatives market participants.”

“It’s important not to lose sight of the fact most of the best minds in the field have believed for years that there has been the need for reform in the market,” she said. Above is a summary from a Article from The New York Times

SEC Commissioner Luis Aguilar to host DC Minority Attorney Networking Series on Mon. July 26

When: Monday, July 26 (6:45–7:15 p.m.)
Who: Commissioner Luis Aguilar
Where: St. Regis Hotel, Washington, D.C.

The D.C. Minority Attorney Networking Series is co-organized by Arnold & Porter and Fried, Frank. In addition to these firms, twenty-six more leading law firms in Washington, D.C. team up and sponsor the Minority Attorney Networking Series.

SEC Upcoming Events page lists Arnold & Porter Partner to Contact for the July 26 event: Darren Skinner (202) 942-5636 or darren.skinner@aporter.com

If you missed, Commissioner Aguilar's Sage Words About Effective Regulation, please see Bill Singer's July 1, 2010 BrokeandBroker summary copied here:

Longtime readers of BrokeAndBroker know that I am not a fan of the time-wastin' speechifyin', masturbatory roundtabling, and high-fallutin' blue-ribbon panels that enervate our government. Sadly, we are saddled with legislators and regulators who belatedly cobble together ineffective solutions for yesterday's problems, or opt for abject inaction that paves the way for tomorrow's crises. In the end, we get neither an ounce of prevention nor a pound of cure. E Pluribus Unum has been replaced with Too Little, Too Late.

Among the worst examples of institutionalized procrastination is the United States Securities and Exchange Commission (SEC). On June 30, 2010, during an open meeting of the SEC, Commissioner Luis A. Aguilar gave a speech titled: "Preventing Investor Harm Should be SEC Priority Number One." It was with some surpise that I read Commissioner Aguilar's comments because he offered a superb description of what constitutes effective regulation. Now, if only the astute commissioner could transform his vision into action, and drag his colleagues into the 21st Century!

I commend his words to you:

Regulatory oversight functions best when we have a regulatory regime that prevents misconduct in the first instance—long before investors can be harmed. If the conduct is not affirmatively prevented, investors are harmed. It's true that once investors are harmed and lose faith in the integrity of our institutions—irreversible damage has taken place. Enforcement actions are rarely, if ever, able to make investors whole, sufficiently punish all the fraudsters, and prevent a loss of investor trust in these financial institutions and the securities industry as a whole. The best course of action is to prevent the significant harm in the first place. Prophylactic rules, consistent and effective inspections, and strong enforcement must work together to protect investors.

Read Commissioner Aguilar's Entire Speech at: http://sec.gov/news/speech

Understanding Financial Reform - Overview at The Waldorf

Mayer-Brown provided “Understanding the New Financial Reform Legislation.” To view the summary outline of the Dodd-Frank Act used in the seminar, please follow the link to view.

Mayer-Brown invites you to the The Waldorf Astoria Hotel in New York on Monday July 12 for a comprehensive, full-day overview of the significant impact this historic legislation will have on US and global financial markets and other important topics:
You can Register to attend here
* Bank proprietary trading and private fund activities (“The Volcker Rule”)
* Bank regulation and structure, including capital requirements
* Securities markets and investors, including securitization
* Derivatives
* The regulation of systemically significant companies
* The resolution scheme for leading financial firms
Location The Waldorf Astoria Hotel | 301 Park Ave | New York

CLE credit will be available. The program includes a lunch, closing cocktail reception and there is no charge to attend.

Register here to attend Mayer Brown all-day overview:

Redefining Jobs of 'Prop' Traders

Volcker rule has everybody on Wall Street scrambling -- even though it hasn't yet become law and won't effect some banks for years.

Reform bill final vote will be next week in the Senate and Banks are shuffling star proprietary traders, whose roles could be put in jeopardy by the reform, according to The Wall Street Journal. Volcker rule will prevent banks from wagering their own money.

Citigroup considering moving traders onto desks that trade with clients, while other firms have moved them to customer-focused operations.

But all this shuffling could just be Wall Street-style smoke and mirrors. At some banks, prop traders are doing what they always did, just from different trading desks. At Morgan Stanley, one trader whose desk was shut down now trades using money from a desk that serves clients. At Deutsche Bank, another trader bets with the bank's money, just on a client trading desk.

Meanwhile, clients are wary about prop traders moving to desks where they can see customers' investment strategies -- and possibly steal customers' ideas for their own profit.

However, firms may be moving a little too fast: Under the reform, many banks, including Goldman and Citigroup will have till 2022 to comply with the Volcker rule. This summary courtesy of FINS.com.