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Banking Attorney in Bethpage, NY

Company Name:
BITSOFT INTERNATIONAL, INC.
Investment Product Risk Manager
The candidate as Assistant Coordinator will directly and actively support the Global Distribution Product Approval Committee (DPAC or Committee) - a senior committee chaired and operated by professionals of IPR that is responsible for the review of all new retail investment products and services offered to clients through Private Bank and Consumer, which can be manufactured either by business units or third parties, taking into consideration conflicts of interest, franchise risk, and quality and purpose of investment. The role of the DPAC Assistant Coordinator consists of, among other activities and responsibilities, the following: Participating along with other control function reviewers and DPAC members in the review of retail investment products and services across all product lines, including alternative investment and mutual funds, exchange traded instruments, structured products and derivatives, investment advisory services, annuities and insurance, trust and estate products, and algorithmic strategies and indices; Advising the business regarding DPAC processes and procedures, documentation and other requirements needed to present a product or service to the DPAC for approval. Reviewing submissions to the DPAC to determine whether they meet DPAC requirements as to form, scope, and content. Coordinating and tracking the periodic review of product programs; Maintaining formal documentation, including minutes and reports, of DPAC proceedings and decisions. Responding to requests for information regarding DPAC activities and reviews; Coordinating with the regional DPACs to ensure consistency and common practices and other bank product approval committees to share information and coordinating joint reviews when necessary; Preparing for and participating in regulatory examinations and investigations, including drafting responses to initial inquiries and findings, producing requested documents, providing presentations, and addressing questions. In addition to the DPAC-related responsibilities, the position involves broader involvement in various IPR initiatives and responsibilities connected with the covered businesses product structuring, sales and suitability activities.

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