Head of Compliance

THE COMPANY:

Our client is multinational Corporate banking company, with branches worldwide.

THE RESPONSIBILITIES:

• Responsibility for the Bank’s compliance with the UK regulatory environment.
• Responsibility for the Bank’s obligations in relation to individual conduct rules for training and reporting.
• Undertake and Manage the Compliance & Money Laundering Oversight Functions (SMF16 & SMF17)
• Ensure the Bank’s Compliance framework and processes are maintained in accordance with all regulatory requirements (e.g. SYSC, SUP, EMIR, MIFID, COREP/FiNREP, COBs, MAR, Money Laundering Regulations, FATCA etc.).
• Ensure that all Compliance department responsibilities are fully implemented and embedded in the department’s work.
• Prepare and maintain the policies, standards and methodologies forming the Compliance risk management framework in the Bank, covering conduct risk, conflicts of interest, financial crime risk, compliance risk and whistleblowing. Ensure that the framework is regularly reviewed and consistent with relevant Head Office policies and delegations of authority and applicable legal and regulatory requirements.
• Ensure that the above risks are identified and regularly assessed across the Bank’s business and that policies, procedures and controls are put in place to ensure they are managed appropriately.
• Ensure that the above risks are identified and assessed for new business and new products and that the Compliance department participates in the design and structuring of new products, services and systems to ensure these fully meet relevant regulatory requirements.
• Oversee the annual comprehensive Compliance monitoring programme which monitors activities in the Bank to ensure that they are carried out in accordance with the requirements of the Bank’s Compliance risk management framework.
• Act as the Whistleblowing Officer with oversight of the Bank’s whistleblowing arrangements.
• Lead and manage the MLRO and wider Compliance department and ensure it has the appropriate resources to carry out its work. Set and modify the departmental objectives. Set the objectives of the staff directly reporting to the Head of Compliance and carry out regular appraisal of performance against these objectives. Ensure that objectives are set and regular appraisal carried out for all members of the Compliance department. Develop the knowledge and expertise of all Compliance staff and ensure the team is fully informed of matters in the Bank.
• Ensure the Compliance department reviews, monitors, and takes appropriate action to mitigate the operational risk arising from their activities. Ensure that a regular RCSA is carried out to identify, document and quantify the operational and conduct risks and conflicts of interest arising in these activities.
• Ensure that regular and appropriate compliance training is provided to all staff with an appropriate mixture of e-training, instructor led, and external modules.
• Provide advisory support to senior management and the business to assist the achievement of business objectives in a controlled and compliant manner.
• Assess and advise management on the impact of changing statutory and regulatory requirements and on regulatory events or issues.
• Act as primary contact and ensure good relations with the PRA, FCA, Bank of England and any other regulatory authorities. Act as primary contact on regulatory matters with the Bank’s Head Office.
• Promote a strong Compliance culture at the Bank.
• Provide senior management with regular MI and reports on the Bank’s compliance with its policies.
• Oversee the investigation of suspected breaches of regulatory requirements or internal Compliance policies and resolve appropriately.
• Represent the Bank at trade associations and other external Compliance forums.
• Represent Compliance at the Bank’s governance committees, including acting as Chair of the Compliance Forum.
• Take responsibility for the provision of policy, tools, techniques and support to enable conduct and compliance risk to be managed in the first line. Conduct monitoring and reporting to assess the design and effectiveness of first line controls and ensure consistency of definitions and measurement of conduct risk. To ensure policy and processes meet legal and regulatory requirements, identify opportunities to improve the framework and collaborate with the First Line of Defence to implement and embed changes.

EXPERIENCE REQUIRED:

• Must be able to work 5 days in the office
• Proven track record in UK compliance, ideally with experience of operating in the capacity of SMF16 in wholesale or investment banking firm.
• The successful candidate will be of graduate calibre with a detailed working knowledge of the FCA and PRA handbooks and industry guidance and best practice.
• Excellent understanding of the regulatory environment in the UK.
• A sound understanding of banking products and business.
• Ability to create robust systems and processes and prepare high-quality written documents.
• Highly effective communication skills (written and spoken) and ability to engage and influence others.
• Prior experience of managing a team.

For further information please contact Hannah Tabatabai