At a Glance
- Tasks: Lead compliance and financial crime oversight in a dynamic mutual building society.
- Company: Established mutual building society with a strong local presence and member focus.
- Benefits: Competitive salary, pension contributions, and flexible office-based work.
- Other info: Opportunity for personal growth in a stable, well-governed environment.
- Why this job: Join a senior leadership team with genuine board access and regulatory accountability.
- Qualifications: Proven compliance experience in FCA and PRA regulated firms; SMF16/SMF17 approval preferred.
The predicted salary is between 65000 - 80000 € per year.
Head of Compliance and MLRO
Financial Services — Mutual Building Society
Location: Home Counties (office-based with some flexibility)
Salary: £65,000 – £80,000 depending on experience
Permanent, full-time
Regulatory: FCA and PRA dual-regulated — SMF16 and SMF17 appointment required
About the Organisation
Our client is a well-established mutual building society with a strong presence in its local market and a committed member base built over many decades. The society operates a straightforward savings and mortgage business, is regulated by both the FCA and PRA, and has a reputation for prudent management and genuine member focus.
With a modest team, the society offers the opportunity to operate as a senior leader with genuine board-level visibility and real regulatory accountability — without the complexity and politics of a large institution.
The Opportunity
Following the planned departure of the current postholder, the society is seeking a Head of Compliance and MLRO to join the senior leadership team. This is a sole compliance function role: the postholder will be the society's subject matter expert for all regulatory conduct matters and will hold both the SMF16 (Compliance Oversight) and SMF17 (MLRO) Senior Manager Functions, subject to FCA and PRA approval.
The role reports directly to the Chief Executive and attends the Board, providing quarterly compliance reporting and the annual MLRO report. It is a genuinely senior position with personal regulatory accountability and direct access to executive and non-executive leadership.
Key Responsibilities
- Compliance oversight (SMF16):
- Design, maintain and execute the annual compliance monitoring plan, reporting outcomes to executive and board
- Provide practical regulatory advice to business lines on conduct requirements including MCOB, BCOBS, and Consumer Duty
- Lead the society's Consumer Duty implementation, ongoing compliance programme, and annual board report
- Manage the relationship with the FCA and PRA, including supervisory visits, regulatory returns and correspondence
- Horizon scan for regulatory change and translate requirements into timely and proportionate implementation
- Maintain and develop the compliance policies and procedures framework
- Oversee product governance arrangements and provide compliance input to new product development
- Oversee complaints handling, providing compliance input and board-level reporting on outcomes and trends
- Financial crime (SMF17 — MLRO):
- Maintain and develop the AML/CTF framework, risk assessment, policies and procedures
- Manage sanctions screening processes and maintain the sanctions compliance framework
- Deliver AML/CTF training to all staff and specialist training to relevant teams
- Prepare and present quarterly compliance reports to the Board of Directors
- Provide regulatory and compliance input to the Board Risk Committee and Audit Committee as required
- Support data protection compliance, working alongside the DPO function where separately resourced
Requirements
- Proven compliance experience in an FCA and PRA dual-regulated deposit-taking firm — a building society, retail bank, or similar institution
- Previous SMF16 and/or SMF17 approval by the FCA, or a track record that clearly demonstrates readiness for approval — the postholder will be subject to individual regulatory assessment
- ICA International Diploma in Compliance, CISI Diploma in Compliance, or equivalent qualification
- Confident presenter to board level, with the ability to communicate regulatory matters clearly to non-specialist directors
- Genuinely autonomous and organised — as a sole compliance function this role requires the postholder to manage their own priorities effectively without the support of a wider team
- Direct building society sector experience — the mutual governance structure, BSA membership context, and member-first regulatory posture all have features specific to the sector
SMF Approval
The successful candidate will be required to obtain FCA and PRA approval as SMF16 (Compliance Oversight) and SMF17 (MLRO). Candidates with existing or recent SMF16 and/or SMF17 approval will be at an advantage, as their regulatory record will already be on file with the FCA.
A senior leadership role with genuine board access and regulatory accountability.
A stable, well-governed mutual with a strong balance sheet and a long-term perspective.
Competitive salary of £65,000–£80,000 depending on experience.
Standard building society benefits package including pension contribution.
Office-based role in Hertfordshire with a degree of flexibility for the right candidate.
Regulatory Compliance M in Luton employer: FD Capital Recruitment
Join a well-established mutual building society in the Home Counties, where you will enjoy a senior leadership role with direct access to the Board and genuine regulatory accountability. The organisation fosters a supportive work culture that prioritises member focus and prudent management, offering competitive salaries and a standard benefits package, including pension contributions. With opportunities for professional growth and a flexible office environment, this is an excellent employer for those seeking meaningful and rewarding employment in the financial services sector.
StudySmarter Expert Advice🤫
We think this is how you could land Regulatory Compliance M in Luton
✨Tip Number 1
Network like a pro! Reach out to your connections in the financial services sector, especially those who have experience with compliance roles. A friendly chat can lead to insider info about job openings or even referrals.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of FCA and PRA regulations. Be ready to discuss how you've navigated compliance challenges in the past. We want to see your expertise shine!
✨Tip Number 3
Showcase your leadership skills! As a potential Head of Compliance, you’ll need to demonstrate your ability to lead a team and influence board-level decisions. Share examples of how you've successfully managed compliance initiatives.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who take that extra step to connect with us directly.
We think you need these skills to ace Regulatory Compliance M in Luton
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter to highlight your experience in compliance, especially with FCA and PRA regulations. We want to see how your background aligns with the specific requirements of the Head of Compliance and MLRO role.
Showcase Your Leadership Skills:Since this is a senior position, it's crucial to demonstrate your leadership capabilities. Share examples of how you've successfully managed compliance functions or led teams in previous roles. We love seeing candidates who can take charge!
Be Clear and Concise:When writing your application, keep it straightforward and to the point. Use clear language to explain your qualifications and experiences. We appreciate candidates who can communicate effectively, especially when it comes to complex regulatory matters.
Apply Through Our Website:Don't forget to submit your application through our website! It’s the best way for us to receive your details and ensures you’re considered for the role. Plus, it makes the process smoother for everyone involved.
How to prepare for a job interview at FD Capital Recruitment
✨Know Your Regulations
Make sure you brush up on the FCA and PRA regulations, especially those relevant to compliance oversight and financial crime. Being able to discuss these confidently will show that you're not just familiar with the rules but can also apply them practically.
✨Showcase Your Leadership Skills
As this role involves direct access to the board, be prepared to demonstrate your leadership experience. Share specific examples of how you've led compliance initiatives or managed regulatory relationships in the past, highlighting your ability to communicate effectively with non-specialists.
✨Prepare for Scenario Questions
Expect questions that ask how you would handle specific compliance scenarios or regulatory challenges. Think through potential situations you might face in this role and prepare structured responses that showcase your problem-solving skills and regulatory knowledge.
✨Understand the Organisation's Culture
Research the mutual building society's values and member-focused approach. Be ready to discuss how your personal values align with theirs and how you can contribute to their commitment to prudent management and genuine member focus.
