Head of Compliance (SMF 16)

GBM Securities Limited is a London-based broker-dealer regulated by the Financial Conduct Authority (FCA). We are currently seeking a Head of Compliance (SMF 16) to lead and oversee our firm’s compliance framework.

Job Description

Reporting to the CEO/COO, the Head of Compliance is responsible for overseeing the firm’s compliance framework, identifying areas of regulatory risk and ensuring the firm operates a robust control structure and a compliance programme that promotes a proactive compliance culture and prevents illegal, unethical or improper conduct.

As an SMF16, the Head of Compliance is responsible for the firm’s obligations in relation to individual conduct rules, including training and procedures to handle conduct issues with timely and accurate reporting to the FCA where required.

The Head of Compliance is responsible for regulatory horizon scanning, raising internal projects to manage regulatory change where required, and keeping the Board informed of regulatory risk and compliance initiatives. The Head of Compliance is also responsible for ensuring that staff and representatives of the firm at all levels understand and comply with applicable rules and regulations through the provision of guidance, advice and training.

Experience Required

Candidates would have held the SMF 16 position previously or held the position of Deputy Head of Compliance in a larger organisation. This would preferably have been in a UK Prime Brokerage firm or a UK Financial Institution that has multi asset markets and securities businesses.

Technical Knowledge/Skills

• Regulatory Knowledge: Deep understanding of the Financial Conduct Authority (FCA) regulations, including the FCA Handbook and the Senior Managers and Certification Regime (SM&CR) and CASS.
• Working knowledge of International financial regulations applicable to global financial hubs and centers.
• Financial Crime Prevention: Familiarity with financial crime prevention measures and the ability to implement and oversee these within the firm.
• Compliance Monitoring and Reporting: Proven experience in developing and managing compliance monitoring programs, and reporting to senior management and regulators.
• Conflict Management: Ability to identify and manage conflicts of interest, particularly if the individual holds multiple roles within the firm.
• Training and Development: Evidence of ongoing professional development and training in compliance and regulatory matters.

Main duties

• Develop tailored compliance solutions specifically designed for small and medium-sized asset managers and multi-family offices to ensure regulatory adherence while supporting their unique operational needs.
• Foster strong relationships with clients by providing dedicated compliance, support and guidance, enhancing their understanding of regulatory requirements and best practices.
• Maintain a compliance framework that promotes a proactive compliance culture within the firm, identifies and manages the regulatory risk relevant to GBM UK and supports the firm by the operation of an effective compliance control environment. This framework must align not only to the internal risk profile of the firm but also to align the strategic goals of the firm’s clients.
• Initiate, develop, maintain, and revise policies and procedures that ensure the firm complies with its regulatory requirements and prevents illegal, unethical, or improper conduct.
• Implement proactive monitoring systems to identify potential compliance risks in real-time, enabling swift action to mitigate issues before they escalate.
• Ensure the operation of a Compliance Programme that monitors day-to-day adherence to the firm’s policies and procedures, identifies areas of weakness and advise on process improvements where required.
• Conduct periodic and themed reviews across the business and support units.
• Respond to potential breaches of rules, regulations, policies, procedures, and conduct standards by evaluating or recommending the initiation of investigative procedures and remedial steps.
• Provide guidance to management and employees on the applicability of regulatory requirements in the context of GBM UK’s activities.
• Ensure the firm’s SMCR and conduct framework continues to be appropriate and relevant to the firm’s activities at all times.
• Participate as a member of the New Product Committee to advise on regulatory requirements relevant to future planned products and material platform changes.
• Operate a regulatory training programme relevant to the Board, senior management and all employees to ensure compliance requirements are understood in the context of individual roles and responsibilities. Act as the point of contact for any regulatory questions a client may have regarding it business activities with GBM and if required provide guidance to assist with the clients awareness and understanding of its regulatory obligations.
• Collaborate with other departments to implement controls, identify, investigate and resolve potential areas of vulnerability and compliance risk.
• Monitor for key regulatory changes relevant to GBM UK’s business activities, raising requirements for new projects to implement future changes in regulation.
• Report to the Board, Board Audit, Board Risk Committee and Executive Committee on a regular basis, and as directed or requested. Participate in Board and Board Committee meetings as required. Keep senior management informed of the operation and progress of compliance efforts.
• Ensure the compliance department functions as an independent and objective body. Manage the team, ensuring sufficient resources, conducting appraisals, identifying staff development and training needs.
• Prepare annual budgets relevant to UK Compliance activities and ensuring adherence to the approved compliance budget throughout the financial year.
• Act as central point of contact with the FCA and other regulatory bodies relevant to the firm, responding to queries and ensuring consistent and transparent communications at all times. Ensure the firm’s regulatory permissions, regulatory filings and staff registrations of staff are accurate and up to date at all times.
• Represent compliance for the purposes of internal and external audits relevant to the compliance function.

Regulatory Responsibilities

In carrying out the duties assigned to you by GBM Securities Limited, you are subject to the Senior Managers Regime and the Conduct Rules