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For Companies At a Glance
- Tasks: Manage regulatory compliance risks and provide expert advice to internal teams.
- Company: Join a dynamic team at the Bank of Singapore, part of OCBC Group.
- Benefits: Enjoy a fast-paced work environment with opportunities for professional growth.
- Why this job: Make a real impact by ensuring compliance and shaping company policies.
- Qualifications: 7+ years in compliance at a UK regulated bank; degree required.
- Other info: Fluency in English is essential; additional languages are a plus.
The predicted salary is between 43200 - 72000 £ per year.
About the Role
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.
The Regulatory Compliance Manager will 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.
Main Responsibilities
- 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.
Qualifications & Required Skills
- Degree holder in the related disciplines.
- At least 7 years’ relevant experience at a UK regulated bank, investment firm or Wealth Management 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 / Native proficiency in English, any additional language would be considered as an advantage.
Regulatory Compliance Manager (London Based) employer: Bank of Singapore, Asia's Global Private Bank
Contact Detail:
Bank of Singapore, Asia's Global Private Bank Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Regulatory Compliance Manager (London Based)
✨Tip Number 1
Familiarise yourself with the FCA Handbook and recent regulatory changes. This will not only help you understand the compliance landscape but also demonstrate your proactive approach to potential employers.
✨Tip Number 2
Network with professionals in the regulatory compliance field, especially those working in UK regulated banks or investment firms. Attend industry events or webinars to make connections that could lead to job opportunities.
✨Tip Number 3
Prepare to discuss specific examples of how you've identified and mitigated compliance risks in previous roles. Being able to articulate your experience will set you apart during interviews.
✨Tip Number 4
Stay updated on current trends and challenges in regulatory compliance. Showing that you are informed about the latest developments can impress interviewers and highlight your commitment to the field.
We think you need these skills to ace Regulatory Compliance Manager (London Based)
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your relevant experience in regulatory compliance, particularly within UK regulated banks or investment firms. Emphasise your understanding of the FCA Handbook and any specific projects you've worked on that relate to compliance.
Craft a Strong Cover Letter: In your cover letter, clearly articulate why you are interested in the Regulatory Compliance Manager position. Mention your experience with compliance policies and your ability to work autonomously, as well as your proactive approach to identifying and mitigating compliance risks.
Showcase Communication Skills: Since excellent written and verbal communication skills are crucial for this role, consider including examples in your application that demonstrate your ability to deliver concise advice and reports to stakeholders.
Highlight Relevant Qualifications: Ensure you mention your degree and any additional qualifications that are relevant to regulatory compliance. If you have experience with regulatory change projects or FCA inspections, be sure to include that as well.
How to prepare for a job interview at Bank of Singapore, Asia's Global Private Bank
✨Know Your Regulations
Make sure you have a solid understanding of the FCA Handbook and relevant UK regulations. Be prepared to discuss how you've applied these rules in your previous roles, as this will demonstrate your expertise and ability to navigate compliance challenges.
✨Showcase Your Experience
Highlight your experience in a second line of defence role, particularly within a UK regulated bank or investment firm. Use specific examples to illustrate how you've identified and mitigated compliance risks in past projects or audits.
✨Demonstrate Communication Skills
Since the role requires excellent written and verbal communication skills, practice articulating complex regulatory concepts clearly and concisely. You might be asked to explain how you would advise stakeholders on compliance matters, so be ready to showcase your ability to communicate effectively.
✨Prepare for Scenario Questions
Expect scenario-based questions that assess your problem-solving abilities in real-world compliance situations. Think about past experiences where you've had to resolve regulatory issues or manage compliance projects, and be ready to discuss your thought process and outcomes.
