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For Companies At a Glance
- Tasks: Lead compliance efforts and ensure regulatory frameworks are up to date.
- Company: Join a global banking group based in the City, known for its innovation.
- Benefits: Enjoy competitive salary, career development opportunities, and a dynamic work environment.
- Why this job: Make a real impact in financial crime compliance while growing your career in a supportive culture.
- Qualifications: 6+ years in UK financial services compliance, with strong leadership skills required.
- Other info: Opportunity to mentor and develop a team while staying ahead of regulatory changes.
The predicted salary is between 43200 - 72000 £ per year.
THE COMPANY: Our client is a global banking group with offices based in the City. They are looking to hire a Deputy Head of Compliance & Deputy MLRO (combined duties).
THE RESPONSIBILITIES:
- Maintain and embed the Bank's regulatory and Financial Crime compliance framework.
- Maintain the wider Compliance policy and procedures framework, ensuring that periodic updates to policies and procedures are scheduled, tracked and executed.
- Maintain and keep up to date the Bank's PA Dealing, Compliance Training, Conflicts, and Gifts & Entertainment registers.
- Provide monthly Management Information (MI) and reports to the Head of Compliance & MLRO, Senior Management and relevant governance committees.
- Attend, and actively contribute to the monthly Compliance and Financial Crime Committee (FCC).
- Develop, maintain and embed appropriate monitoring and testing standards, procedures and test scripts for the Compliance Monitoring and Testing team.
- Analyse the impact of new regulatory rules and guidelines and update the Monitoring and Testing Plan and relevant test scripts as appropriate.
- Ensure all areas of the business are appropriately monitored; and all changes to regulations are incorporated into the monitoring plan.
- Act as the main point of contact for Internal Audit / 3rd Line of Defence with regards to financial crime compliance matters as and when required.
- Attend, and contribute to the Compliance and Financial Crime Committee (CFCC).
- Support the design, development and execution of Bank Wide Risk Assessment (BWRA) for financial crime and regulatory compliance.
- Provide input to the design, development and execution of Compliance Monitoring and Testing Plan (CMP).
- Collaborate closely with other members of the wider compliance team, and share experience, insight and perspectives to support the development of a comprehensive, risk-based and rounded compliance framework and culture.
- Plan and carry out assurance reviews (desk/thematic) in accordance with the CMP.
- Develop and maintain detailed test scripts that align to internal policies and procedures as well as regulatory requirements.
- Deliver timely and accurate compliance monitoring reports that opine on the adequacy of Compliance systems, controls and processes to manage compliance risks.
- Identify and risk rate deficiencies and work with line management on remediation plans.
- Develop, maintain and circulate to management a Compliance Tracker of progress made against the implementation of review recommendations and open actions.
- Analyse the impact of relevant regulatory developments with regards to the Bank's business, suggest (and where appropriate, execute) appropriate enhancements.
- Staff and personal development:
- Manage, mentor and coach members of the regulatory compliance team, conduct appraisals, identify training and development needs.
- Stay abreast of developments in regulatory rules and good practice to ensure the Bank's correspondent banking and trade finance compliance framework remains fit for purpose and up to date with the latest regulatory developments and industry best practice.
- Develop and deliver relevant and appropriate regulatory compliance training to employees and other stakeholders as and when required.
- Continuously consider how to automate controls and make processes more efficient.
- Be commercially minded, always looking for solutions that satisfy Compliance requirements and minimise adverse business impact.
EXPERIENCE REQUIRED:
- A minimum of 6 years' experience within a UK financial services environment, (ideally Banking) gained in a compliance function or directly with a regulator.
- Strong understanding of industry practices and compliance expectations with regards to the UK's rules and regulations.
- Team leadership and management experience essential.
- Relevant experience conducting Compliance monitoring and testing for a financial services firm in the UK covering retail and institutional business.
- Experience of applying monitoring or audit methodologies within financial organisations desired and advantageous.
For further information please contact Hannah Tabatabai.
Deputy Head of Compliance & Deputy MLRO employer: Compliance Professionals
Contact Detail:
Compliance Professionals Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Deputy Head of Compliance & Deputy MLRO
✨Tip Number 1
Network with professionals in the compliance and financial crime sectors. Attend industry events, webinars, or local meetups to connect with others who work in similar roles. This can help you gain insights into the company culture and potentially get a referral.
✨Tip Number 2
Stay updated on the latest regulatory changes and compliance trends in the UK financial services sector. Being knowledgeable about current issues will not only prepare you for interviews but also demonstrate your commitment to the role.
✨Tip Number 3
Prepare to discuss specific examples of how you've successfully managed compliance frameworks or led teams in previous roles. Highlighting your leadership experience and problem-solving skills will be crucial in showcasing your fit for the Deputy Head of Compliance position.
✨Tip Number 4
Familiarise yourself with the company's values and mission. Tailor your conversations during networking or interviews to align with their goals, showing that you understand their business and are genuinely interested in contributing to their success.
We think you need these skills to ace Deputy Head of Compliance & Deputy MLRO
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in compliance and financial crime, particularly within the UK banking sector. Use specific examples that demonstrate your understanding of regulatory frameworks and compliance practices.
Craft a Compelling Cover Letter: Write a cover letter that clearly outlines your motivation for applying to this role. Emphasise your leadership experience and how it aligns with the responsibilities of managing and mentoring a compliance team.
Highlight Relevant Experience: In your application, focus on your past roles that involved compliance monitoring and testing. Detail any specific methodologies you have applied and the outcomes of your efforts in previous positions.
Showcase Continuous Learning: Mention any recent training or certifications related to compliance and regulatory changes. This demonstrates your commitment to staying updated with industry best practices and regulatory developments.
How to prepare for a job interview at Compliance Professionals
✨Know Your Regulations
Make sure you have a solid understanding of the UK's financial regulations and compliance frameworks. Brush up on recent changes and how they impact banking operations, as this will show your commitment to staying informed.
✨Demonstrate Leadership Skills
As a Deputy Head of Compliance, you'll need to showcase your leadership abilities. Prepare examples of how you've successfully managed teams or projects in the past, particularly in compliance settings.
✨Prepare for Scenario Questions
Expect scenario-based questions that assess your problem-solving skills in compliance situations. Think about past experiences where you identified compliance risks and how you addressed them effectively.
✨Showcase Your Analytical Skills
Highlight your ability to analyse regulatory developments and their implications for the bank. Be ready to discuss how you've previously adapted compliance strategies based on new regulations or internal audits.
