Our client is multinational Corporate and Retail banking company based in the City.
THE RESPONSIBILITIES:
To act as Compliance Business Partner for the execution only Private Banking business.
To possess a good, up-to-date understanding of both the PRA and FCA regulatory requirements in particular in relation to COBS, execution only investment business, COBS 10 appropriateness assessments, training and competence, GDPR, MiFID2 and DISP.
Remain up to date with regulatory and legislative developments on conduct risk, helping as required to undertake reviews and implementation of new / changes to existing regulation. Undertake gap analysis of regulatory publications, such as FCA and PRA Business Plans.
To track all relevant publications from our Regulators and notifying the relevant business areas of the Bank. Maintain the Regulatory Change Forum (RCF) log, chair the monthly RCF meetings, ensuring all items are tracked until closure.
To assist with the publication of the quarterly Compliance Newsletter.
To act as a Compliance representative in various Working Groups of the Bank as and when required.
To support the team to co-ordinate compliance issues to ensure that the businesses operate in accordance with the Bank’s policies and procedures, and local regulatory requirements.
Assist with the preparation and execution of the annual Compliance Strategic Plan.
To complete any monitoring related activities relating to the Bank’s Private Banking business – including call and email monitoring, and any monitoring reviews documented in the Compliance Monitoring Plan for Private Banking.
To prepare and submit MI as necessary to Head of Compliance and Senior Management on Compliance with regulations pertaining to Private Banking.
To facilitate effective and constructive sharing of knowledge and experience of compliance issues and to effectively engage with other parts of the Group, in particular as the Business Partner for Private Banking.
Assist as required with review and approval of all financial promotions received, in line with internal compliance policies and regulatory requirements on a timely basis. Ensure all approved material is logged and kept on file along with the approval for future reference.
To act as back-up for GDPR, MiFID2 and financial promotion related matters.
To assist on ad hoc projects, as required by the Head of Compliance, such as monitoring related activities, analysis of enforcement notices and working with business areas to implement regulatory change.
Assist the Head of Compliance to prepare reports, as required, for the Bank’s governing bodies. Maintain the Compliance Committee/Activities calendar.
To provide timely support and assistance to the Business with DAC6 and keeping up to date with regulatory changes and requirements, ensuring the Bank remains DAC6 compliant. Reporting cross-border arrangements to HMRC as required and within stipulated timescales.
To assist with ensuring the Bank complies with the UK Modern Slavery Act 2015, taking required steps to identify, prevent and mitigate modern slavery in the Bank’s operations and supply chains, and publishing the annual Modern Slavery Statement of the Bank on the required websites.
EXPERIENCE REQUIRED:
Private banking experience
Generalist/advisory experience from a Private Banking/corporate banking background
Wide-ranging financial services experience and knowledge of banking products and processes.
Good understanding of current and anticipated regulatory requirements and expectations.
Ability to use initiative and work with minimum supervision but ensuring, at the same time, that the line reports are kept fully informed at all times
For further information please contact Hannah Tabatabai
