Head of Compliance

This organisation is a UK-based financial institution specialising in business banking services, including lending and savings solutions. It operates with a strong focus on regulatory compliance, risk management, and ethical banking practices. The institution is committed to supporting businesses by providing tailored financial solutions while ensuring adherence to the highest standards of governance and regulatory requirements. With a forward-thinking approach, it integrates modern financial technology and industry best practices to maintain operational efficiency and regulatory compliance.

FUNCTION RESPONSIBILITIES

This role is a Senior Management Function (SMF16), as defined in the Statement of Responsibilities, and is subject to the PRA/FCA Individual and Manager Conduct Rules. Additionally, this role holds Prescribed Responsibilities under the Senior Managers Regime as referenced in the Responsibilities Map.

MAIN PURPOSE OF THE ROLE

• Manage the Compliance function within the organisation.
• Ensure that the organisation meets current and future regulatory rules at all times.
• Act as the Data Protection Officer.
• Provide expertise and capability in all aspects of regulatory compliance to support the organisation’s strategy.
• Assess regulation for applicability to the organisation's activities, inform the first-line business and support and control functions of applicable regulation, and monitor adherence.
• Provide assurance to the Board that the regulatory control framework within the first line is robust and commensurate to the activities undertaken.

KEY ACCOUNTABILITIES

• Develop compliance frameworks ensuring regulatory adherence at all times.
• Provide an independent view of compliance practices to Board Committees and senior management.
• Offer technical and professional expertise in regulatory and conduct compliance, Anti-Money Laundering, Counter-Terrorist Financing, Anti-Fraud, and Anti-Bribery and Corruption risks.
• Develop policies to meet regulatory requirements and good market practices.
• Ensure appropriate processes are in place for assessment, measurement, and management of compliance activities.
• Monitor and report on regulatory conduct and compliance.
• Provide independent assessments of the operation of risk management and control frameworks.
• Maintain and update a forward-looking compliance monitoring plan.
• Assess compliance and financial crime risks of new products and initiatives.
• Oversee training activities in compliance matters.
• Maintain awareness of financial crime laws and regulations.
• Collaborate with the MLRO on reports and regulatory information requests.
• Oversee the data protection control framework.
• Maintain an understanding of applicable data protection laws and regulations.
• Perform the duties of the Data Protection Officer as required by GDPR, including but not limited to: Training all staff, Conducting regular Data Protection assessments, Maintaining data processing documentation.

SENIOR MANAGEMENT FUNCTION

Under the Senior Management Function/Prescribed Responsibility/Certification attributed to this role, responsibilities include:

• Managing or supervising relevant functions.
• Reporting to the governing body regarding compliance.
• Presenting key compliance matters for decision-making.

SENIOR MANAGEMENT TEAM

This role is part of the Senior Management Team (SMT), which plays an important role as leaders and decision-makers. Responsibilities include:

• Contributing to strategic and operational plans.
• Considering strategic and vital organisational issues.
• Ensuring activities align with fundamental values, behaviours, and ethical principles.
• Ensuring regulatory compliance.
• Supporting an effective organisational structure with clear communication channels.
• Managing activities and decisions in the best interest of the organisation.

INTERNAL AND EXTERNAL RELATIONSHIPS

Major internal relationships include:

• Chief Risk Officer
• MLRO
• Risk and compliance team members
• Other internal stakeholders
• Co-sourced compliance monitoring

Major external relationships include:

• Regulators
• External advisers on regulatory capital, liquidity, recovery, resolution, and risk matters
• Outsourced internal audit

QUALIFICATIONS, SKILLS, AND EXPERIENCE

• Educated to degree standard and/or with a relevant professional qualification.
• At least five years of conduct and compliance experience within financial services.
• Broad knowledge of risk and compliance landscapes.
• Experience in engaging with senior management on compliance issues.

CULTURE AND VALUES

• Maintain high standards for handling colleagues and customers fairly.
• Promote and adhere to core organisational values.
• Support teamwork, clear communication, and collaboration.
• Provide transparent leadership to direct reports.
• Convey information with clarity, integrity, and certainty.
• Promote success and share achievements.
• Ensure continuous learning and skill development.
• Comply with Conduct Rules prescribed by the Regulator and organisational policies.
• Maintain awareness of financial crime laws and reporting responsibilities.
• Commit to sound corporate governance and high ethical standards.