Legal & Compliance Department-Regulatory Affairs Office; RAO AVP​/VP

Introduction

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

RAO serves as the primary, centralized point of contact for all Regulatory Affairs Matters for the Bank. This includes overseeing the coordination of Regulatory Communication items, Regulatory Meetings, and Regulatory Examinations across all three (3) lines of defense. RAO is responsible for identifying, tracking, managing, responding to, and retaining records related to Regulatory Affairs Matters across the Bank. RAO organizes and manages Regulatory Meetings, conduces reviews and credible challenge of written responses and supporting documentation, leverages subject matter expertise and knowledge of U.S. Banking rules and regulations, oversees the timely submission of material, and retains records of all forms of communication with Regulators.

The VP establishes and maintains RAO policies/procedures and oversees all Regulatory Affairs Matters, including project management, stakeholder relationships, and day-to-day processes, communication with regulators, tracking and coordinating regulatory deliverables, driving the submission process to ensure timely execution and quality assurance, and reporting regulatory updates to Bank Management and committees.

Include but are not limited to:

Regulatory Affairs Liaison:
Communication with Regulators and Bank Management

• Serve as the primary liaison with regulatory agencies and the Bank during periodic examinations and BAU or ad hoc inquiries; facilitate prompt review and approval of submissions and commitment closures
• Oversee the bank examination process for exams and enhanced continuous monitoring reviews conducted by the different U.S. regulatory authorities
• Lead in maintaining fluid and regular communications between the Bank and its regulators
• Convey regulators’ inquiry/advice/comments/instruction/concerns to relevant parties and drive a resolution to address those in a timely manner
• Support key stakeholders in the writing of regulatory responses ensuring comprehensiveness and consistency across lines of business
• Manage escalations related to regulatory matters and/or deliverables, and provide support to ensure proper awareness and communication to applicable stakeholders including the regulators and Executive Management as applicable
• Ensure standards are maintained and followed related to the Bank’s regulatory interactions, including exam management, regulatory meeting, request for information and other ad hoc communications
• Drive and Execute quality reviews of all regulatory submissions to ensure deliverables meet strict deadlines and fulfil regulatory and quality standards; leverage knowledge of U.S. Banking regulations and compliance rules
• Oversee all facets of compliance‑related regulatory exams, as well as additional exams covering other Independent Risk Management (IRM) functions, such as Operational Risk Management, etc., as requested by CRO; manage exam requests, meeting preparation and presentation, exam logistics, and communication of exam deadlines and updates to relevant parties, and Senior and Executive Management; and ensure efficient, effective and accurate communication between regulators and the Bank.

Regulatory Affairs Office Recordkeeping and Retention

• Oversee the documentation and maintenance of comprehensive records of communications and regulatory affairs in line with both the Bank’s policies/standards and regulatory expectations
• Review minutes for regulatory meetings; consider internal stakeholder feedback; maintain RAO records of such
• Maintain and communicate the regulatory exam schedule, including exam results and documentation (SL) and key metrics related to RAO functions
• Establish and maintain RAO Procedure and relevant processes; facilitate procedure approvals and…