To remain up to date with all regulatory developments, analyse and assess the implications for the LMSTL/LMSL/LTSL businesses and, where appropriate, recommend and implement changes in a complete and timely manner, working with Senior Management to ensure that the business is advised, reporting to the Head of Compliance on progress.
To devise, manage and complete the annual Compliance Monitoring programme in a timely manner, reporting to the Head of Compliance on progress, and work with other members of the Compliance team who may undertake monitoring activity.
To work alongside the business to ensure new/variations to products, projects and referrals are appropriately considered and responded to from a regulatory compliance perspective.
To oversee and assist the business with completion of their annual plan and ensure it dovetails with the Compliance Plan with the appropriate risk-ranking and prioritisation given.
To work with and develop other members of the Compliance team who may undertake regulatory change work, monitoring activity and other ad-hoc appropriate tasks as required.
To create and maintain a compliance culture within the business, not merely for the benefits it gives, but also for the long-term commercial benefits that flow from running the business ethically.
To assist the Head of Compliance as required, including attendance at any of the Governance Forums.
To develop into other Compliance areas, such as advisory and AML either as part of monitoring or as separate standalone pieces of work.
Key Accountabilities and Main Responsibilities
To drive Regulatory Change for the business, guiding the compliance team, attending relevant forums/committees, remaining up to date with all regulatory developments and assessing the implications for the LMSTL/LMSL/LTSL businesses and, where appropriate, manage the completion of a gap analysis and recommendation/implementation of changes including update of Compliance policies and monitoring plans, providing timely and accurate updates to the Head of Compliance, Risk Committee and Board, and Group etc., as appropriate.
To oversee the preparation of the annual risk-based Compliance Monitoring programme, including the risk-ranking exercise.
To oversee the delivery of the ongoing Compliance Monitoring Programme providing timely and accurate reports to the business, Head of Compliance, Risk Committee and Board, and Group, specifically ensuring:
Identification of key rules and risk areas,
Scoping and preparation/maintenance of monitoring checklists and test scripts,
Completing desk-based and face to face testing and fieldwork,
The production and issue of reports,
Monitoring completion of agreed remedial actions and reporting on progress,
Maintain working papers and monitoring files to evidence monitoring activity undertaken.
To possess a technical appreciation of the business being controlled as well as a thorough, up to date understanding of the relevant FCA rules and all applicable statutes to Link, ensuring that LMSTL conducts its regulated business activities in line with the FCA rules assess regulatory developments and outlining the implications for LMSTL business and where appropriate recommend and implement changes including update of monitoring plans.
Identify, monitor and assess compliance breaches, complaints and incidents and ensure that these have been responded to promptly by the business and details of any material breaches are reported to the CEO/Board/FCA on a timely basis as appropriate
Where relevant, to review all marketing and advertising to ensure all such items comply with the FCA requirements on Financial Promotions, Treating Customers Fairly principles and Conduct rules.
To provide clear and accurate guidance to the business where queries arise and oversee the guidance provided by the team.
To provide coaching and guidance to other team members ensuring that work is delivered to plan.
To review the Compliance, other manuals and internal policies to ensure these are up to date and fit for purpose
To undertake ad-hoc project work and/or become the Subject Matter Expert in compliance tasks as periodically advised by the Head of Compliance (e.g. advisory and AML)
Assist the business/compliance function in preparing for FCA and other external visits
Experience & Personal Attributes
Minimum 5 years' experience in compliance and working within FCA regulatory framework
Either existing qualification or commitment to obtain below qualification within 18 months of commencing role.
SII Investment Operation Certificate or ICSA CCSP or other equivalent professional qualification covering the following topics: Introduction to Securities and Investments; FCA regulation; and other technical module .
Knowledge of regulatory requirements especially, but not limited to, the Financial Conduct Authority or other Regulators.
Proven track record of managing tasks and objectives in an efficient and timely manner.
Experience in interpretation and implementation of regulatory change within a business environment.
Proficient understanding of LMSTL's regulated products and services, and the applicable FCA rules (CASS, COBS, FEES, TC, SYSC, DISP, SUP ) and legislative requirements.
Proficient knowledge of Client Assets, Custody, Dealing, and related technical aspects of the Securities / Asset Management / Stockbroking sectors
Strong background in the operational, technical aspects of the securities/and or share registration and employee share plan business
Report writing, time management, good people management and team working skills
AML rules and regulations.
Good background in computer literacy and knowledge of Microsoft Word/Excel.
Willingness to study for required qualifications where identified as a result of business or regulatory change and compliance qualifications (e.g. Compliance Diploma)