Legal & Regulatory Compliance
Monitoring business activity and conducting regular reviews to ensure compliance with the FCA rules and regulations, relevant guidelines and policies, analyzing regulatory changes and developing a framework of internal codes, policies and procedures and implementing best practice.
Duties and Responsibilities
- Maintain and monitor the Company’s Compliance Manual and Compliance Monitoring Program and adjust in line with continuous FCA handbook changes. Liaison with all business areas including employee training as required;
- Preparing and updating Company's internal procedures and policies for different areas of business to minimize operational risks and to ensure compliance with the FCA and other relevant rules and regulations;
- Carrying out regular assessments of capital adequacy of the firm in coordination with the Finance Department to cover the nature and level of the risks which the company is or might be exposed.
- Maintain awareness of regulatory/compliance developments, assess the impact to the business and initiate necessary changes or seek to ensure that relevant managers initiate such changes;
- Provide advice proactively on UK financial services compliance matters in connection with both existing and new business proposals.
- Providing advice regarding the interpretation of FCA rules and guidance to the Firm and addressing Auditors queries together with the Finance Department during the audit process.
- Identifying the major sources of risk to the Company’s ability to meet its liabilities as they fall due.
- Supervising and undertaking the Compliance Monitoring Programme covering the UK regulated Brokerage and Investment Advisory business, in line with FCA Handbook requirements;
- Ensuring the timely submission of FCA Gabriel reporting and responding to FCA ad-hoc emails requesting information.
- Conducting regulatory reporting responsibilities of the firm in coordination with Finance and Operations departments, specifically the monthly CMAR.
- Oversee the operational effectiveness of the firm’s systems and controls that are designed to achieve compliance with the UK rules.
- Conducting systematic reviews of the business to meet regulatory and business needs
- Designing additional reviews where changes in operating processes or regulatory requirements present new challenges
- Preparing compliance/ regulatory update reports to fulfil Board and Group needs.
- Assisting dealing and investment management staff with relevant compliance issues (e.g. trade allocation, best execution, conflicts of interest management, WHT, new markets)
- Remaining abreast of relevant regulatory developments and their implications for the Company
- Reporting on findings of the compliance monitoring programmes with suggested recommendations
- Ensuring employees are issued with and return the required compliance documentation
- Reviewing client account opening and verification documents in line with UK AML regulations and remaining abreast of changes to AML regulations
- Reviewing counterparty account opening documents and counterparty risk
- Drafting and updating of service agreements and terms of business of the company for new business lines
- Ensuring compliance information is held securely and that record keeping requirements are adhered to
- Some review of legal documentation
- Assist with ad hoc projects
Requirements
Preferably 3-5 years of previous experience in compliance/ legal within a bank/financial institution and/or in a risk management/regulatory compliance departments of a financial consultancy/audit firm, or regulatory authorities.
Educated to at least degree level, preferably a degree in law or compliance risk
Familiarity with derivatives instruments and derivatives framework agreements with counterparties, ISDA etc.
Good working knowledge or strong interest in compliance with FCA guidelines and regulations, specifically COB, GENPRU, BIPRU, MiFD
A confident team leader and team player as well as being able to work on own initiative
Self-motivated with strong analytical skills and previous managerial experience
Good reporting and presentation skills plus have willingness and capacity to learn.
A “can-do” attitude and thrive on challenges.
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