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Head of Compliance - SMF16/17

  • Location

    London, England

  • Sector:

    Operations & Middle Office

  • Job type:


  • Salary:

    £140000 - £150000 per annum

  • Contact:

    Scott Duerden

  • Contact email:

  • Job ref:


  • Published:

    6 months ago

Our client, an International Bank based in London are looking to recruit a Head of Compliance who will hold the SMF16 & 17 controlled functions. Main responsibilities of the Head of Compliance will include;

  • Responsibility for the branch's compliance with the UK regulatory regime applicable to the branch
  • Responsibility for the escalation of correspondence from the PRA, FCA and other regulators in respect of the branch to the governing body and/or the management body of the firm or, where appropriate, of the parent undertaking or holding company of the firm's group
  • Local responsibility for the branch's policies and procedures for countering the risk that the branch might be used to further financial crime
  • Responsibility for the branch's obligations in relation to individual conduct rules for training and reporting

Other responsibilities will include;

  • Ensure that regulatory compliance issues faced by the London business are identified and communicated with solutions to local and Head Office management.
  • Provide all necessary support to the London business to ensure that they remain compliant with current regulation.
  • Designing and implementing internal controls, policies and procedures to assure compliance with applicable UK regulations, guidance and best practise that may be disseminated by UK regulators to the UK market from time to time.
  • Act as a centre of expertise for receipt of regulatory and legal developments issued by relevant outside Authorities and process and disseminate as necessary to mitigate risks.
  • Managing audits and investigations into regulatory and compliance issues
  • Responding to requests for information from regulatory bodies.
  • Ensuring there is a framework in place to promote understanding and awareness of the relevant conduct rules by the provision of training and any other relevant means of promoting the understanding of the conduct rules and how they may apply to the various businesses that operate in the UK.
  • Ensuring that the London Branch has an established framework for systems, controls and training to combat money laundering, counter terrorist financing and relevant sanctions legislation
  • Maintain a Compliance Policy / Procedure Manual embracing all aspects of the London business that are subject to regulation imposed by external or internal authority, which sets out required standards for operation
  • Provide ongoing input to new and existing London policies and procedures generally to ensure that they demand regulatory compliant and risk controlled operations across all relevant business activities
  • Provide day to day support to the London business as appropriate to achieve a compliant operation
  • Maintain and execute a risk based Compliance Monitoring Programme encompassing all regulated London activities and provide regular reporting to line management to address exceptions
  • Follow-up of reported exceptions to ensure resolution within agreed timeframes.
  • Coordinate with Head Office Compliance personnel to ensure that exposures receive appropriate cross-border attention
  • Report consolidated compliance risk information on a monthly basis to the relevant committee
  • Consider the regulatory risk implications of proposals for new or changed London business activities and present a full analysis to the relevant committee

To be considered for this position, ideal candidates must have the following experience and skills;

  • Extensive regulatory compliance and risk management experience in Private Banking and Investment business, with a substantial proportion of career history in UK banking sector
  • An understanding of and experience in working in partnership with the PRA/FCA on banking and investment business areas
  • Thorough working knowledge of the legal, regulatory and professional environment in which the Bank operates.
  • The following qualifications are preferred; CISI Level 6 Diploma in Investment Compliance, or equivalent, ICA International Diploma in Financial Crime Prevention - Level 6 Advanced & ICA International Diploma in Governance, Risk and Compliance - Level 6 Advanced.
  • Analytical and investigative aptitude; highly literate/numerate with a proven ability to present compliance risk issues effectively to an internal audience at all levels
  • Communication skills to be of the highest standard to represent the bank in a professional and credible manner both internally and externally
  • The applicant should be a "fit and proper" person of appropriate calibre and experience to perform all regulated prescribed duties under SMF16 & SMF17 and all Compliance duties listed above
  • Sound knowledge of UK Anti Money laundering requirements gained through suitable qualifications or previous experience as a MLRO and an ability to apply this in the operating environment

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