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Compliance Manager - Retail Banking

Posted 2 February by MERJE Ltd Ended

The Client:

Leading UK Retail and Commercial Bank

This Client does not provide sponsorship.

The role profile:

  • Provide the Chief Compliance Officer and Head of Compliance Advice with regular updates on compliance matters relating to the Consumer Finance Division, including on emerging issues/incidents, progress in addressing findings from first/second/third line monitoring reviews
  • Attend Consumer Finance governance meetings (including Executive and Operational meetings)
  • Ensure maintenance and awareness of regulatory developments, particularly in the consumer credit market, through regular liaison with the Bank’s Regulatory Change Team
  • Alongside the Consumer Finance Compliance Team, provide and oversee the provision of advice to the Consumer Finance Division on issues relating to their business, including the development and launch of new products, new business models and new functional processes
  • Attend, as necessary, risk management governance meetings, to share regulatory risks identified and work with the Consumer Finance Division to enhance controls as appropriate
  • Contribute to the implementation of the business-facing aspects of the Annual Compliance Plan
  • Support the management of the conduct risk framework for the Bank through regular review of key controls and compliance with Group policies, in order to ensure the Consumer Finance Division operates within risk appetite
  • Provide assistance and guidance to Group Legal and the first and third lines of defence in developing and maintaining a robust three lines of defence framework, sharing information as appropriate and ensuring there is no significant overlap of work

Skills and qualifications:

  • Advanced degree and/or professional designation required
  • Regulatory/legal experience in Financial services/Banking
  • 5-10 years’ experience as a legal/compliance professional within a banking/consumer finance environment
  • Strong academic background, with one of the following qualifications preferred with a minimum of a 2:1 degree and an appropriate professional qualification, for example ICA Certificate in Compliance
  • Broad and deep knowledge of financial regulation, with particular specialist knowledge of consumer credit regulation (including the FCA’s CONC Rules) and the regulation of deposit-taking (including the FCA’s Banking Conduct of Business Rules)
  • Extensive experience of operating in the Compliance function of a regulated bank or consumer credit lender
  • In depth understanding of the financial services sector with specific focus on consumer finance (deposits / lending)
  • Strong capability in strategic thinking developing solutions and effective business planning
  • Strong commercial and financial acumen
  • Ability to operate effectively on Senior Management Committees
  • Strong understanding of risk appetite and risk management frameworks
  • In depth knowledge of Conduct Risk and how to deliver fair customer outcomes
  • Strong understanding of legislation relevant to a financial services business with specific focus on banking and consumer finance

Required skills

  • Compliance
  • Regulations
  • Risk

Reference: 34381335

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