Specialist Compliance Adviser
Main purpose of job:
The role of this team is to promote and provide access to an investment service and deposit products for charities, trustees and other not-for-profit organisations.We work with a number of different fund management houses to provide funds and services that are designed to meet the needs of the charity sector. To be accountable for delivering rigorous and effective technical, regulatory advice on these funds, fund based platforms (including the Firm's Investment Account) and associated financial promotions in line with the business model and strategy. .
Responsible to: Chief Risk Officer
Budgetary responsibilities: None
Key Job Responsibilities:
To be responsible for leading and providing rigorous and accurate guidance and regulatory support to senior management and other colleagues to enable informed decisions to be made on key issues relevant to the business model and strategy.
To be responsible for providing accurate and rigorous technical assessments of regulatory permissions.
To deliver an environment in line with Industry and regulatory requirements, ensuring key regulatory risks are understood and an appropriate framework exists to manage and control them (i.e. includes interpretation of regulatory permissions against the business activities performed (to include other group areas directly influenced) for the implications of legislation as required by the regulatory handbook including MiFID II, fund management, etc.)
To be responsible for leading an effective risk-based monitoring program ensuring business delivery complies with applicable regulatory and industry best practice and enhancing this program where necessary to reflect changes to strategy, business model and regulatory requirements.
To prepare reports and papers on compliance and any other subject related matters for discussion at Board, Group Audit, Risk and Compliance Committee, external or internal meetings. Review trends and recommend reviews of strategic operations and activity where appropriate
To assess and monitor all 'material outsourcing’ arrangements in line with FCA handbook requirements for third party product providers.
To compile monthly quantitative and qualitative TCF (Treating Customers Fairly) management information for discussion with Senior Management and at Board and Audit, Risk and Compliance Committee. Review of complaints processes with appropriate reporting to the Regulator, Executive and BRCC
To ensure all supervisory, statistical returns and notifications are completed and submitted to the regulators (FCA and PRA) accurately and in a timely manner.
To review all relevant published Acts of Parliament, regulatory Discussion and Consultation Papers, as well as Feedback Statements, Policy Statements, keynote speeches, enforcement actions, Dear CEO letters and any other relevant communications from the regulators. Undertaken analysis and provide views and commentary recommending courses of acyion/mitigation/challenges as required to Senior Management and the Board.
To deliver presentations on regulatory and technical area of responsibility to help develop knowledge and understanding in this area as required to Executive, Committees, Senior Management and staff.
To develop and build constructive working relationships with a range of external and internal partners, including appropriate regulatory bodies (e.g. PRA, FCA).
To be responsible for scheduling and maintaining a compliance monitoring calendar for all FCA/PRA regulated business activities, ensuring that an effective audit trail is present.
To undertake timely observation assessments of all CRM’s and approve and sign off new to role CRM’s.
To identify and review evidenced instances of incidents, control breakdowns or ineffective control coverage, ensuring ownership by the business and where appropriate recommending strategies for resolution and notification to relevant authorities where appropriate.
To be responsible for approving financial promotions, financial documentation and web pages.
To monitor and recommend the delivery of training required by the business lines in general skills, operational procedures and regulatory responsibilities in an effective and compliant manner.
WE ARE LOOKING FOR SOMEONE WITH THE FOLOWING EXPERIENCE
1. Significant experience of FCA regulation within a regulated financial or supervisory environment of fund services /fund platforms to enable the candidate to hit the ground running and with minimal oversight. Prior experience operating at a senior compliance or risk role.
2. Knowledge of regulatory requirements for financial products
3. Detailed knowledge of fund based regulated compliance, in-depth knowledge of MIFID and MIFID II to enable candidate to provide accurate and rigorous technical and regulatory advice.
4. Comprehensive knowledge of compliance monitoring plans for fund based financial services and ability to enhance current plan to meet business activities of CFSL and MIFID II regulatory requirements.
5 .Will need to be able to demonstrate ability to horizon scan and keep abreast of regulatory developments - ability to research and analyse. Presenting relevant key points to staff and senior management and engaging with the business to ensure understanding and actions being taken where appropriate.