Regulatory Compliance Manager (London Based)

The Regulatory Compliance Manager is a member of the BOSWME UK Branch team, working closely with the local teams as well as with the Group Regulatory Compliance (Bank of Singapore and OCBC). The Regulatory Compliance function is a second line of defence function, which has as its main task to ensure that the first line maintains full responsibility and accountability for the regulatory compliance risks taken within the business. The Regulatory Compliance function also performs an advisory role and partners with stakeholders to ensure that compliance risks are proactively identified, mitigated, monitored, and reported in line with laws and regulations.

Key Responsibilities

• Provide UK regulatory compliance expertise and advice to internal stakeholders.
• Implement and update the Company’s Regulatory Compliance Policies and Procedures in accordance with local requirements and Group policies.
• Prepare Regulatory Compliance reports, including reports to management and the Head Office, and other materials as required.
• Assist with special projects as needed, with the ability to work in a fast-paced, ever-changing environment.
• Identify and assess UK regulatory compliance risks and impact from new projects, products/services or arising from new regulations.
• Act as a focal point of contact with the FCA concerning regulatory matters and keep the General Manager, Head of Legal and Regulatory Compliance, Head Office and Management Committee updated as appropriate.
• Maintain knowledge and awareness of key regulatory changes related to Regulatory Compliance matters impacting the business, including review of relevant local consultation papers, discussion papers, guidance, policy statements, thematic reviews, and enforcement cases.
• Resolve and follow up any issues raised by the regulators in relation to regulatory compliance matters.
• Plan and manage all regulatory and internal audit requirements for regulatory compliance.
• Develop annual compliance risk assessment and compliance monitoring plan to ensure the objectives are monitored periodically and ensure local monitoring and follow up.
• Perform compliance monitoring in accordance with the compliance monitoring plan.
• Advise stakeholders on regulatory requirements and industry guidelines/practices as set by the FCA.

Academic & Other Requirements

• Degree holder in the related disciplines.
• At least 7 years’ relevant experience at a UK regulated bank, investment firm or Wealth Manager in a second line of defence role.
• Excellent working knowledge and experience of developing compliance policies to ensure compliance with the applicable UK regulations.
• Strong knowledge with the FCA Handbook and ability to read and interpret rules and apply fact pattern to the rules.
• Excellent written and verbal communication skills to deliver accurate and concise advice.
• Robust and inquisitive mindset with clear and demonstrable understanding of the three lines of defence.
• Ability to work autonomously and proactively and to take ownership and the full responsibility of the tasks performed; attention to detail and ability to deliver accurate deliverables at fast pace.
• Experience in dealing with regulatory change projects, remediation/audit related issues and FCA inspections.
• Team player with desire and ability to work within a small and growing business.
• Fluency/proficiency in English, any additional language would be considered as an advantage.