Head of Compliance – Wealth Management recruitment

Global financial institution is looking for a Head of Compliance for their Wealth Management division.

Duties include:

Senior Management
. Provide appropriate management information on compliance and regulatory issues to Senior Management.
. Ensure compliance attendance at relevant management, Committee / Sub-Committee meetings (including Board meetings and Audit Committee meetings).

Interface With Regulatory Authorities and Other External Entities . Communication with Regulators, Exchanges, Trade Bodies, Internal/External Auditors, in respect of compliance issues.
. Assist in investigations prompted by external sources (the regulator, exchanges, police, client, and employees).
. Respond to visits, audits and other enquiries on Compliance issues, liaising with Senior Management as necessary.
. Ensure the registration with the FSA of those staff engaged in relevant activities.

Regulatory Risk Assessment
. To work with line management to understand the level of regulatory risk represented by the business, and the mitigating controls.
. Develop and implement a risk based monitoring plan

Regulatory Developments
. Monitor regulatory developments across EU and communicate these to the Business.
. Work with the Business to assess the impact of these developments and to implement appropriate responses - participating in trade association and industry initiatives as relevant.
. Establish and maintain appropriate links with other group companies to ensure the development of cross-border policies and procedures.

Compliance Advisory
Respond in a timely manner to compliance related queries in relation to regulated (and related) business and its management.
Interpret, summarise and disseminate relevant regulatory or compliance related developments.

Policies and Procedures
Develop and maintain adequate Policies and Procedures covering compliance activities and processes.
Ensure that regulatory, legal or group requirements are implemented and reflected in local documentation.

Client Acceptance and Fighting Financial Crime
. Develop and maintain policies and procedures for:
o Determining the sensitivity of existing / prospective clients.
o Collecting and assessing KYC and KYB information for prospective new clients, according to their sensitivity.
o Reviewing status of existing clients on a rolling, risk-based approach (and where necessary for the collection of additional documentation).
o Escalating to management information on these processes - and exceptions arising.

. To be a member of, and to provide advice to other members of, the Client Acceptance Committee (if appropriate, exercising a right of veto).
. Provision of advice for all AML and other Financial Crime issues, interpreting Group, FSA and other National International requirements and guidance.
. To act as the escalation point for AML and other Financial Crime issues, including:
o to review any suspicious activity reports raised; and
o to communicate conclusions to Management, and to the Authorities as appropriate.
o To provide the investigatory function for AML and other Financial Crime risks identified.

Product / Service / Transaction Suitability
. Products and services validation:
o Involvement in the review of new products and services to ensure that they comply with local laws, regulations, and risk (including regulatory risk) appetite.
o Involvement in review of specific transactions, including assessing the regulatory risk of such.

Complaints / Trade Disputes
. Help ensure the satisfactory follow-up and resolution of complaints and trade disputes.

Transaction Monitoring / Surveillance
. Develop and apply a compliance monitoring and review program, (involving business reviews and periodic monitoring and surveillance) including by reference to:
o Risk appetite and assessed level of regulatory risk.
o Business and regulatory developments.
o Issues identified by the business and the functions.
. .Monitor staff involvement in:
o Personal Account dealing.
o Outside business interests.
. Submit to Senior Management periodic (and issue-specific) reports.
. Direct contribution to operational permanent control framework

Ethics
. Help ensure that the code of conduct and ethics are applied.
. Investigate in co-operation with Internal Audit and HR, as appropriate, any situation where a staff member's conduct / ethics might be questioned.

Training
. Promote compliance awareness and a strong compliance culture.
. Ensure that all staff are appropriately trained on business and local Compliance requirements.
. To conduct periodic training on Compliance issues, including Anti Money-Laundering and other Financial Crime awareness.
. To provide training in response to business and regulatory developments.
. To provide training in response to issues raised by the business and the functions.
. To maintain a record of all training sessions relating to Compliance and any subsequent testing.