West End, London
£90000 - £100000 per annum
8 months ago
Our client, an Independent Wealth Manager based in the West End of London, are looking to recruit a Compliance Officer (SMF16 & 17). The Compliance officer reports directly into the CEO/Executive Director and works closely with the COO on a day to day basis to ensure communications relating ongoing compliance and regulation is discussed in an open and clear manner. The individual also works closely with the finance department to ensure regulatory returns are completed in a timely manner.
Main responsibilities of the Compliance Officer will include;
- Oversee all activities of the business to ensure compliance with applicable regulations and requirements with an aim to prevent illegal, unethical, or improper conduct.
- Provide Executive Management Committee with business MI and regulatory changes which impact the firm.
- Review and update the company's policies and procedures as required to bring them in line with any regulatory changes required.
- Act as first point of contact for employees, partners and the Management team to provide regulatory advice and guidance on day to day business as well as ad hoc projects and business development.
- MLRO responsibilities, ensuring that the required procedures are in place to implement and monitor the rules set by FCA and JMLSG guidance
- Point of contact for the company to report SAR's and assess and escalate those matters.
- Identifies potential areas of compliance vulnerability and risk, detail the firmwide risk assessment in the ICAAP and recommend/implement corrective actions for resolution of problematic issues, and provide general guidance on how to avoid or deal with similar situations in the future.
- Carry out the company's CMP and develop it to incorporate any required changes along with managing and updating all registers with particular consideration for the identification and prevention or management of conflicts of interest.
- Consult with outside Counsel and consultants as needed and determine resource needs for regulatory change projects such as MiFID II, GDPR & SM&CR.
- Develop an effective training program to ensure firm's compliance with regulatory obligations under MLR and in line with Conduct Rules, MAR requirements along with Bribery & Corruption, Whistleblowing, Inducements and other training needs specific to JAR policies.
- Point of contact and key liaison with the FCA, FOS, ICO.
- Key point of contact for complaints processing. Ensure reporting of violations or potential violations to duly authorised enforcement agencies as appropriate and/or required.
- Reviews / sign off of financial promotions presentation and marketing materials
- Review of trade suitability, general sales policies and practices, and consistencies of policy execution.
- Review and submission of transaction reports and review trades for indications of market abuse.
- Oversee the annual account review process
- Monitors the performance of the Compliance Program and relates activities on a continuing basis, taking appropriate steps to improve its effectiveness.
To be considered for the Compliance Officer position, ideal candidates must have the following relevant experience and skills;
- 5+ years experience in a senior compliance role within a financial institution, ideally Wealth or Asset Management background
- Very strong relationship skills with experience of performing or managing a wide variety of compliance work.
- Good management skills and the ability to prioritise work according to regulatory risk.
- Good problem solving, analytical and communication skills.
- Detailed knowledge and understanding of FCA handbook.
- Industry qualification specific to regulation and compliance. e.g CISI Regulation and Professional integrity.
- Advanced compliance or financial crime specific qualification. e.g. CISI Diploma in Investment Compliance.