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- Tasks: Provide compliance advice on Consumer Credit for Private Client business.
- Company: Join a leading financial institution focused on private banking and consumer lending.
- Benefits: Enjoy competitive pay, flexible working options, and professional development opportunities.
- Why this job: Make a real impact by ensuring clients receive fair treatment and good outcomes.
- Qualifications: Experience in compliance advisory, particularly in regulated lending and FCA regulations required.
- Other info: Ideal for those passionate about finance and regulatory compliance.
The predicted salary is between 43200 - 72000 £ per year.
The post-holder will:
- Provide accurate, timely and practical regulatory compliance advice to the Private Client business on Consumer Credit.
- For regulated lending, advise on the meaning and application of FCA rules and guidance applicable to secured lending (MCOB + any legacy Article 3.1(b) agreements and CONC rules and guidance) as well as PRA BTL lending, taking into account requirements from other sources (e.g. Consumer Duty, Consumer Credit Act (CCA) legislation, industry standards and best practice codes)
- For unregulated lending, advise on the meaning and application of rules and guidance that apply to any regulated aspects or general conduct expectations
- Ensure issues of potential regulatory risk (including potential regulatory breaches) are identified and managed (and/or escalated as required) promptly and appropriately, having regard to the need to treat clients fairly, help clients to achieve good outcomes, acting when clients achieve poor outcomes and manage IBP\’s Retail regulatory and conduct risks
Core Skills and Knowledge
- A number of years\’ compliance advisory experience, ideally with a background in regulated lending
- Strong and proven working knowledge of FCA regulation with particular emphasis on MCOB, CONC, Consumer Duty + PRA BTL lending regulation and experience of providing advice on these regulations to a regulated firm
- Sound knowledge of retail lending products for consumers, with experience working with lending to private banking clients welcomed
- Ability to think clearly and apply technical regulatory knowledge to commercial demands of business
- Adept at tracking changes in the market, products, legislation and regulation relevant to the business areas and communicating them out in a digestible manner
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Private Banking Compliance Advisor , Consumer Credit employer: BMO Harris Bank
Contact Detail:
BMO Harris Bank Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Private Banking Compliance Advisor , Consumer Credit
✨Tip Number 1
Familiarise yourself with the latest FCA regulations, especially MCOB and CONC rules. Understanding these regulations in depth will not only help you during interviews but also demonstrate your commitment to compliance in the private banking sector.
✨Tip Number 2
Network with professionals in the compliance and private banking sectors. Attend industry events or join relevant online forums to connect with others who can provide insights and potentially refer you to opportunities at StudySmarter.
✨Tip Number 3
Stay updated on recent changes in consumer credit legislation and market trends. Being able to discuss current issues and how they impact compliance will set you apart as a knowledgeable candidate.
✨Tip Number 4
Prepare for the interview by thinking of specific examples from your past experience where you've successfully navigated regulatory challenges. This will showcase your problem-solving skills and ability to apply your knowledge in real-world scenarios.
We think you need these skills to ace Private Banking Compliance Advisor , Consumer Credit
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your compliance advisory experience, particularly in regulated lending. Emphasise your knowledge of FCA regulations, MCOB, CONC, and Consumer Duty to align with the job requirements.
Craft a Strong Cover Letter: In your cover letter, explain how your background and skills make you a perfect fit for the Private Banking Compliance Advisor role. Use specific examples from your past experiences that demonstrate your ability to provide regulatory advice and manage compliance risks.
Showcase Relevant Skills: Highlight your ability to track changes in market regulations and communicate them effectively. Mention any experience you have with retail lending products and how you've applied your regulatory knowledge in a commercial context.
Proofread Your Application: Before submitting, carefully proofread your application materials. Check for any spelling or grammatical errors, and ensure that all information is clear and concise. A polished application reflects your attention to detail, which is crucial in compliance roles.
How to prepare for a job interview at BMO Harris Bank
✨Know Your Regulations
Make sure you have a solid understanding of FCA rules, especially MCOB and CONC. Be prepared to discuss how these regulations apply to both regulated and unregulated lending, as well as any recent changes in legislation.
✨Demonstrate Practical Experience
Share specific examples from your previous roles where you've provided compliance advice in a regulated lending context. Highlight your experience with private banking clients and how you've navigated complex regulatory environments.
✨Showcase Your Problem-Solving Skills
Be ready to discuss how you've identified and managed potential regulatory risks in the past. Use real-life scenarios to illustrate your ability to treat clients fairly while ensuring compliance with regulations.
✨Stay Updated on Industry Changes
Research recent developments in consumer credit and retail lending products. Being able to discuss current trends and how they impact compliance will show that you're proactive and knowledgeable about the industry.
