Head of Compliance Business Advisory, Private Banking recruitment
Purpose of role
The purpose of the role will be to lead the team that provides full time front line compliance advisory support to the UK Private Banking business. Stakeholder engagement is key. The role will work in conjunction with other compliance colleagues to deliver the compliance programme within UK Private Bank.
Core accountabilities
Provide seamless and responsive front line support to the business: Provide front line compliance advisory support to the UKPB businesses. Ensure that the businesses maintain an appropriate level of compliance with existing and future policies, providing 'smooth landing' of new policies. Responsible for resolving compliance advisory issues from the business, in conjunction with other compliance colleagues
Controls: Review and ensure that controls within UKPB are fit for purpose and address current and future regulatory requirements
Monitoring: Ensure that an appropriate level of compliance monitoring is undertaken in respect of the core risks of the business. Carry out ad hoc risk based reviews and assisting the Monitoring Team with reviews and helping the business to devise and close out on corrective action plans.
New product and business developments: Working with the product compliance team on new product sign-off and ensure that the business is fully briefed on compliance implications of any new product launch.
Business and project management meetings: Represent the compliance advisory function at business and project management meetings when required. Ensure compliance concerns are flagged to the business and all actions are followed through to completion.
Major regulatory projects: Participation in all major regulatory projects that have a business impact, ensuring that changes are appropriately landed in the business e.g. TCF, RDR.
Training: Deliver new joiner induction training for all UKPB staff; deliver ad hoc compliance training on new initiatives as and when required. Devise and deliver refresher style training to all existing UKPB staff.
Stakeholder Management and Reporting: represent the Head of the UK OSI Team at key governance forums (risk committees). Responsible for the production of timely and effective management reporting to the business stakeholders and compliance management.
The suitable candidate will have relevant experience in a UK or International Private Banking institution with wide ranging front office experience. An excellent understanding of UK regulatory requirements and practical application is required, together with an in-depth knowledge of financial products, sales and relationship management and key operational processes relating to a sales channel. Reliability and taking ownership will be key (e.g. monitoring and follow through on regulatory issues) together with the ability to proactively identify and prioritise risks. The suitable candidate will be able to demonstrate an understanding of the need to balance commercial and regulatory risk when dealing with a sale force of 500+. They will be able to demonstrate strong conflict management and influencing skills and the ability to progress controversial issues with pragmatic workable solutions. Knowledge of global company standards and good understanding of global regulatory requirements will also be a key requirement.