Head of Compliance – Corporate Banking

THE COMPANY:

We are delighted to be working with a great client who specialise in corporate banking, with a global presence.  They are looking for a Head of Compliance; this is an SMF16/17 role managing a small team.

THE RESPONSIBILITIES:

Regulatory Compliance & Governance

• Develop and maintain the Compliance & Financial Crime Framework, ensuring alignment with FCA, PRA, and other applicable regulatory requirements such as FATF recommendations, guidance issued by the Joint Money Laundering Steering Group (JMSLG), OFAC, EU and HMT Sanctions
• Act as the primary liaison with regulatory bodies (FCA, PRA, NCA) on all compliance and AML matters.
• Provide expert advice on regulatory developments, ensuring proactive updates to policies and procedures.
• Advise Senior Management of any likely implications of changes in regulations to internal policies and Bank’s activity
• Provide advice on the implications of future business strategies from a financial crime and compliance perspective.
• Oversee regulatory horizon scanning, assessing the impact of new regulations on the bank’s operations.
• Ensure effective policies and procedures are in place for treating customers fairly (TCF), conduct risk, and data protection (GDPR).
• Maintain and regularly review the Risk Appetite Statement for compliance and financial crime risk.

Anti-Money Laundering (AML) & Financial Crime

• Act as the Money Laundering Reporting Officer (MLRO), ensuring full compliance with AML/CTF regulations and the bank’s financial crime risk framework.
• Develop and oversee the bank’s AML/CTF program, including customer due diligence (CDD), enhanced due diligence (EDD), transaction monitoring, and SAR reporting.
• Report to RC results of reviews of AML risks assessments and monitor remedial proceedings.
• Ensure that suspicious activity reports (SARs) are promptly reviewed and submitted to the NCA when necessary.
• Provide oversight of ongoing monitoring and quality assurance of financial crime controls, including screening for PEPs and sanctions.
• Provide AML training and awareness programs for employees, ensuring all staff understand financial crime risks and reporting obligations.

Risk Management & Monitoring

• Develop, implement, and maintain the Compliance Monitoring Plan (CMP) to ensure adherence to regulatory and internal compliance requirements.
• Provide risk assessments on correspondent banking relationships, high-risk customers, and transactions.
• Oversee the transaction monitoring system, ensuring it is effectively identifying and escalating potential financial crime risks.

Data Protection Officer (DPO) Responsibilities

• Serve as the Bank’s Data Protection Officer in accordance with UK GDPR and the Data Protection Act 2018.
• Oversee the Bank’s data protection governance framework, ensuring compliance with data protection laws and internal policies.
• Advise Senior Management and business areas on data protection obligations, including privacy risk implications of new products, systems, or processes.
• Lead and oversee the completion, review, and approval of Data Protection Impact Assessments (DPIAs) for high-risk processing activities.
• Monitor compliance with UK GDPR, including adherence to policies, internal controls, retention schedules, and data minimisation principles.
• Oversee the Bank’s Register of Processing Activities (RoPA).
• Act as the main point of contact for the Information Commissioner’s Office (ICO).
• Oversee the handling of data subject rights requests (DSARs), ensuring compliance with statutory deadlines and maintaining appropriate records.
• Provide data protection training and awareness programmes to staff.
• Monitor and report personal data breaches, ensuring prompt escalation to Senior Management and the ICO where required.
• Maintain oversight of third-party data processors, ensuring DPAs are in place and that ongoing due diligence is completed.
• Provide reports to Senior Management, ExCo, and the Board on data protection risks, incidents, and compliance status.

Reporting & Board Engagement

• Regularly present compliance, AML, and financial crime and data protection reports to the Risk Committee (RC), ExCo, CEO, and the Board.
• Escalate material compliance breaches and regulatory risks to the Risk Committee and Board.
• Prepare and submit the Annual MLRO Report, ensuring a comprehensive review of financial crime risks and controls.
• Prepare regular DPO updates and an annual Data Protection Report to the Board and Risk Committee.
• Support the Board in maintaining an effective Senior Managers & Certification Regime (SMCR) framework.
• Compile Management Information to the Board Committees

Training & Culture

• Develop and implement compliance and AML training programs across the bank.
• Promote a compliance culture by embedding regulatory requirements into daily business activities.
• Provide advice and training to Senior Management and frontline staff on regulatory risks and obligations.

EXPERIENCE REQUIRED:

• Must be able to work 5 days a week in the office
• Extensive experience in compliance, AML, and financial crime risk management within the UK banking sector. (wholesale, corporate, private banking)
• Strong understanding of UK regulatory frameworks, including FCA, PRA, AML/CTF regulations, GDPR/data protection requirements and SMCR.
• Experience in engaging with regulators and managing regulatory audits/inspections.
• Excellent leadership, analytical, and communication skills, with the ability to influence senior stakeholders.

For further information please contact Hannah Tabatabai