Interim Head of Compliance (SMF16)

This position holds responsibility for overseeing the effective implementation of policies and procedures concerning the induction, training, and professional development of senior managers (excluding the governing body). The role also includes accountability for managing the firm’s obligations related to individual conduct rules, training, and reporting.

Key Responsibilities:

• Monitor and regularly test the firm’s regulatory compliance control environment, ensuring it remains robust and proportionate to business activity, regulatory expectations, and industry best practice.
• Provide senior management and executive teams with relevant compliance-related management information.
• Act as Chair or a member of key management committees, contributing meaningfully as outlined in their Terms of Reference.
• Drive improvements in efficiency and effectiveness across the Compliance function, including leveraging automation where applicable.
• Ensure data protection compliance across all personal data processing activities involving employees, clients, or third parties.

Specific Responsibilities:

• Lead and manage the Compliance team, offering strategic direction and subject-matter expertise across regulatory and financial crime issues.
• Provide oversight of the firm’s data protection/GDPR compliance framework.
• Maintain and update the regulatory policy framework in line with evolving business activities and regulatory change.
• Ensure regulatory permissions are aligned and clearly mapped to business operations.
• Regularly assess the adequacy of compliance measures and procedures per SYSC 6.1.23R, including those related to MiFID obligations.
• Support staff performing regulated activities with appropriate regulatory advice and training.
• Manage compliance obligations relating to BCOBs, Conduct of Business rules, and customer documentation (e.g., annual Terms & Conditions review).
• Oversee complaint handling processes and responses to Data Subject Access Requests.
• Provide horizon scanning, regulatory impact analysis, and relevant policy recommendations to the business and executive leadership.
• Deliver insightful and actionable compliance reporting to governing committees, highlighting current risks and emerging threats.
• Lead compliance monitoring activities and thematic reviews to evaluate regulatory and financial crime control effectiveness.
• Develop and implement a firm-wide compliance training programme tailored to business size and complexity.
• Maintain responsibility for anti-financial crime policies and procedures.
• Design and execute a second-line compliance monitoring programme, aligned to the Compliance Risk Assessment.
• Promote a strong compliance culture across the organisation.
• Support regulatory projects and initiatives requiring compliance input.

Compliance & Regulatory Requirements:

• Ensure compliance with the FCA and PRA Conduct Rules, including the requirement to deliver good outcomes for retail customers.
• Maintain “Fit & Proper” status as required for a Senior Manager under the SMCR.
• Conform to operational resilience requirements and associated regulatory expectations.
• Handle personal and sensitive data in accordance with GDPR and internal policies.
• Act in line with the firm's purpose, values, and behaviours.

General Duties:

• Provide hands-on oversight and execution of Compliance department responsibilities.
• Maintain a robust second-line control environment aligned to regulatory expectations.
• Timely escalation of control failures and operational risk events to senior management.
• Engage in process improvement initiatives and efficiency reviews.
• Deliver accurate, timely, and comprehensive compliance reports.
• Participate in firm-wide governance documentation reviews and contributions (e.g., ICAAP, ILAAP, RRP, RAF).
• Conduct regular self-assessments of Compliance through the Risk and Control Self-Assessment (RCSA) process.

Operational Risk Coordinator Duties:

• Manage reporting and analysis of operational risk events (OREs).
• Lead the RCSA process and risk assessments for outsourcing and models.
• Monitor and follow up on corrective actions and build operational risk awareness in the department.
• Liaise with the Risk function on relevant matters.

Qualifications & Experience:

• Significant experience in regulatory compliance within financial services, ideally banking.
• Previous SMF16 designation holder is essential.
• In-depth knowledge of the FCA Handbook and regulatory expectations for banking firms.
• Strong understanding of MiFID, EMIR, PSD2, GDPR, and associated compliance frameworks.
• Familiarity with banking operations and risk management in small to mid-sized institutions.
• Experience in policy writing, framework development, and second-line monitoring.