Compliance Oversight Manager

Active Recruiting Consultants
From £40,000 to £45,000 per annum
30 Sep 2017
03 Nov 2017
Contract Type
Full Time

A really interesting opportunity to take on the compliance responsibility for a relatively young company that consists of an IFA arm with £10m funds under management (FUM) and a discretionary investment management arm with £15m FUM. Whilst the overall business numbers 12/13 staff, your focus will concern the 7 advisory staff within these two parts of the group. Ideally you would be Level 4 Qualified and looking to take on a role where you can help the company develop long-term.

The Company: This group started in 2013 and has been continually evolving. Expansion plans in development currently include growth of its digital and social media marketing activities, growing the regulated advisory and investment management teams as well as launching new investment products. Centralised services such as compliance and administration/brand management and financial controls are also being developed.

The Role: Your overall remit will include keeping up-to-date with regulatory developments, advising senior management of FCA related and other regulatory issues and of any changes to the FCA rules. You will produce an annual compliance report for senior management and manage the firm’s relationship with the FCA. Responsibilities will cover the following:

  • Approved persons - Ensure that all new Approved Persons receive FCA approval before commencing duties. Formally review job descriptions / key tasks for all Approved Persons at least annually.
  • Compliance Monitoring - Ensure that the firm has adopted a risk based approach to compliance monitoring. Ensure findings from client file reviews are recorded as part of the firm’s management information and reacted to by senior management, where necessary.
  • Selling Practices - Ensure all staff are aware of the FCA requirements on selling practices. Monitor the review of client files to ensure regulatory requirements are being met.
  • Complaints handling - Review complaints against the firm, dealing with them in accordance with the FCA complaints handling rules. Ensure all staff are aware of the firm’s complaints handling procedures.
  • Financial Promotion - Ensure financial promotions are approved in line with FCA rules. Annually review financial promotions to check that the information contained therein remains valid and compliant.
  • Training and Competence - Ensure that any new recruits and / or approved persons are subject to proper supervision. Ensure all relevant individuals are subject to on-going supervision and assessment.

Skills / Experience Required: It is essential that you have a strong compliance background and detailed knowledge of FCA rules. Ideally this experience will have been gained within an IFA/Wealth Management environment and will include detailed knowledge of retail investments.

Additional Information: The salary for this role is in the £40,000 - £45,000 range. Will consider home working options and possibly a 3 or 4 day week arrangement, dependent on the person.

The Compliance Oversight Manager position is only one of many vacancies we are handling. ARC is a specialist within Financial Services recruitment and the Consultant handling this role has over 20 years experience in this field. Areas of expertise include pensions, sales support, employee benefits/group risk, compliance, flexible benefits, paraplanners, underwriting, customer services and IT related roles. We predominately focus on London and the Home Counties, although we have also been successful in offering national solutions and overseas. Check the website and feel free to call Darren Snell at any time.

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