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Compliance Monitoring Officer

  • Location

    Docklands, London

  • Sector:

    Operations & Middle Office

  • Job type:

    Permanent

  • Salary:

    £50000 - £55000 per annum

  • Contact:

    Scott Duerden

  • Contact email:

    scottd@kennedypearce.com

  • Job ref:

    SDCMOBF01_1614068957

  • Published:

    4 months ago

International Bank based in the Docklands, are looking to recruit a Compliance Monitoring Officer to join their expanding Compliance department. In this position, you will work with a business wide scope performing monitoring and assurance reviews under the UK Compliance function and the Compliance Risk Framework. The Compliance Monitoring Officer will also assist the Head of Compliance to review the Bank's Money Laundering Reporting activities, with independent, objective oversight reviews and evaluate compliance issues within the Bank.

Main responsibilities will include;

  • Maintaining the Compliance Monitoring Methodology (CMM) to enable Compliance colleagues undertake monitoring reviews in a structured, clear and consistent manner and evidence this to the Conduct and Compliance Risk Committee (C&CRC) and Audit Risk and Compliance Committee (AR&CC)
  • Reviewing and maintaining the CMM annually to incorporate improvements, good practice and feedback from key stakeholders.
  • Developing and maintaining an inventory of the Law, Rules and Regulations (LRR) that apply to the bank and ensure these are mapped to the business processes (rules mapping): and an up to date list of the Banks regulatory permissions, licences and waivers.
  • Developing and maintaining the annual Conduct and Compliance Monitoring Plan (C&CMP) and calendar detailing thematic reviews, assurance reviews and deep dives as appropriate.
  • Ensuring the timely completion of monitoring reviews and reporting of Compliance Monitoring Plan activities through appropriate governance committees (C&CRC and ARCC)
  • Monitoring and reporting on open control issues raised from monitoring reviews to closure validating evidence provided to support issue closure.
  • Working with Compliance Advisory, design and deliver a Bank-wide regulatory training and development programme to all colleagues and key stakeholders.
  • Supporting the Head of Compliance in regulatory breach reporting and event management
  • Provision of relevant Management Information to C&CRC and ARCC highlighting thematic issues relating to Conduct and Compliance.
  • Ensure all compliance principles, policies and procedures are clearly defined and regulatory developments are proactively appraised and communicated;

The successful candidate will likely possess the following (or equivalent qualifiers):

  • Strong experience or understanding of the wholesale, retail and corporate banking industry
  • Proven prior experience working within Compliance Monitoring and specifically strong and in depth experience in undertaking the full range of risk types through Compliance Monitoring Reviews
  • Excellent knowledge LRR as applicable to UK banking environments
  • A strong knowledge of the Compliance Function and Compliance Risk Frameworks
  • Ideally a Compliance Diploma (such as ICA / CISI) or equivalent experience
  • In depth knowledge of UK regulatory compliance requirements including, but not limited to, the FCA/PRA Handbooks, AML/Financial Crime and risk management principles both in the UK and EEA with an awareness of extra-territoriality issues in other jurisdictions as necessary.

Given the broad nature of the role, it is preferred that candidates are not from single discipline roles such as AML/CTF. The Compliance Monitoring Officer must have cross business and cross product expertise to ensure compliance with relevant LLR

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