Deputy Head of Compliance & Deputy MLRO

THE COMPANY:

Our client is a a global banking group with offices based in the City.  They are looking to hire a Deputy Head of Compliance & Deputy MLRO (combined duties).

THE RESPONSIBILITIES:

• Maintain and embed the Bank’s regulatory and Financial Crime compliance framework.
• Maintain the wider Compliance policy and procedures framework, ensuring that periodic updates to policies and procedures are scheduled, tracked and executed
• Maintain and keep up to date the Bank’s PA Dealing, Compliance Training, Conflicts, and Gifts & Entertainment registers.
• Provide monthly Management Information (MI) and reports to the Head of Compliance & MLRO, Senior Management and relevant governance committees
• Attend, and actively contribute to the monthly Compliance and Financial Crime Committee (FCC)
• Develop, maintain and embed appropriate monitoring and testing standards, procedures and test scripts for the Compliance Monitoring and Testing team
• Analyse the impact of new regulatory rules and guidelines and update the Monitoring and Testing Plan and relevant test scripts as appropriate
• Ensure all areas of the business are appropriately monitored; and all changes to regulations are incorporated into the monitoring plan.
• Act as the main point of contact for Internal Audit / 3rd Line of Defence with regards to financial crime compliance matters as and when required,
• Attend, and contribute to the Compliance and Financial Crime Committee (CFCC)
• Support the design, development and execution of Bank Wide Risk Assessment (BWRA) for financial crime and regulatory compliance
• Provide input to the design, development and execution of Compliance Monitoring and Testing Plan (CMP)
• Collaborate closely with other members of the wider compliance team, and share experience, insight and perspectives to support the development of a comprehensive, risk-based and rounded compliance framework and culture
• Plan and carry out assurance reviews (desk/thematic) in accordance with the CMP
• Develop and maintain detailed test scripts that align to internal policies and procedures as well as regulatory requirements
• Deliver timely and accurate compliance monitoring reports that opine on the adequacy of Compliance systems, controls and processes to manage compliance risks
• Identify and risk rate deficiencies and work with line management on remediation plans
• Develop, maintain and circulate to management a Compliance Tracker of progress made against the implementation of review recommendations and open actions
• Analyse the impact of relevant regulatory developments with regards to the Bank’s business, suggest (and where appropriate, execute) appropriate enhancements
• Staff and personal development
• Manage, mentor and coach members of the regulatory compliance team, conduct appraisals, identify training and development needs.
• Stay abreast of developments in regulatory rules and good practice to ensure the Bank’s correspondent banking and trade finance compliance framework remains fit for purpose and up to date with the latest regulatory developments and industry best practice
• Develop and deliver relevant and appropriate regulatory compliance training to employees and other stakeholders as and when required
• Continuously consider how to automate controls and make processes more efficient
• Be commercially minded, always looking for solutions that satisfy Compliance requirements and minimise adverse business impact

EXPERIENCE REQUIRED:

• A minimum of 6 years’ experience within a UK financial services environment, (ideally Banking) gained in a compliance function or directly with a regulator.
• Strong understanding of industry practices and compliance expectations with regards to the UK’s rules and regulations.
• Team leadership and management experience essential
• Relevant experience conducting Compliance monitoring and testing for a financial services firm in the UK covering retail and institutional business
• Experience of applying monitoring or audit methodologies within financial organisations desired and advantage.

For further information please contact Hannah Tabatabai