Head of Compliance

The role ensures the bank meets its regulatory obligations under PRA and FCA requirements and maintains a proportionate, risk-based, and regulator-defensible compliance framework in line with its status as an SDDT firm. As we scale, strong second line oversight will be critical to ensuring the bank continues to meet regulatory expectations. The role holder will support the discharge of relevant SMCR prescribed responsibilities. The Head of Compliance supports the CRO in ensuring clear allocation of compliance-related SMCR prescribed responsibilities. They maintain the Management Responsibilities Map and Statements of Responsibilities. The Head of Compliance is responsible for the independent oversight of the bank’s Compliance and Conduct Risk Framework, operating as the second line of defence. The Head of Compliance plays a key role in ensuring the bank maintains a robust, proportionate, and regulator-defensible financial crime framework. The Head of Compliance has the authority to escalate regulatory and compliance matters directly to the CRO, CEO, Board Risk Committee and Board Audit Committee. They are key second line contributors to Board and Executive governance forums. They provide independent challenge to first line management and senior leadership. This role reports to the Chief Risk Officer (CRO) with additional reporting to the Chairs of the Board Audit and Risk Committees.

Job Requirements

• Knowledge
  • Sound understanding of UK regulatory framework, including familiarity with the PRA Rulebook and Supervisory Statements and FCA Handbook (CONC).
  • Good working knowledge of key applicable areas such as Conduct of Business, Consumer Duty, SMCR, SYSC and outsourcing requirements.
  • Understanding of non-financial regulatory reporting requirements and governance expectations.
  • Knowledge of compliance assurance methodologies and risk-based monitoring approaches.
  • Good understanding of financial crime frameworks and controls (AML, CTF, sanctions, fraud, ABC), sufficient to provide effective second line oversight.
• Skills
  • Strong leadership and people management skills, with the ability to build and develop high-performing teams.
  • Ability to provide effective independent challenge while maintaining constructive relationships with first line stakeholders.
  • Strong analytical and problem-solving skills, with the ability to interpret regulation and apply it pragmatically.
  • Excellent written and verbal communication skills, including the ability to present clearly to senior management and Board committees.
  • Ability to operate effectively in a lean environment and prioritise across multiple competing demands.
  • High levels of integrity, sound judgement, and a strong sense of accountability.
• Experience
  • Significant experience (5-10 years) in a compliance role within UK retail financial services, ideally within a retail bank or building society.
  • Experience interacting directly with FCA and/or PRA supervisors, including involvement in supervisory reviews, thematic work, or regulatory requests.
  • Experience operating within an SMCR-regulated environment, including supporting SMF holders and understanding prescribed responsibilities.
  • Proven experience developing, implementing, and maintaining compliance and conduct risk frameworks, policies, and procedures.
  • Experience delivering compliance assurance and monitoring programmes in a second line of defence function.
  • Experience with Consumer Duty implementation and ongoing monitoring of customer outcomes.
  • Experience working in a FinTech, digital Bank, lean or scaling environment and with the ability to engage effectively in change programmes and product development lifecycles.
  • Experience producing Board and Committee-level reporting and engaging with senior stakeholders.
  • Relevant compliance and/or financial crime qualification (e.g. ICA or equivalent) desirable.
  • Demonstrable alignment with the FCA Conduct Rules (COCON) and a strong commitment to ethical behaviour and good customer outcomes.

Job Responsibilities

• Governance and SMCR
  • Leadership and management of the Compliance function, building a strong team to support the bank.
  • Ensure all compliance activities remain proportionate to the nature, scale, and complexity of the bank, in line with its SDDT status.
  • Define and maintain Compliance and Conduct Risk MI, ensuring clear, timely and decision-useful reporting to senior management and Board committees.
  • Escalate breaches, control weaknesses, and emerging risks in accordance with governance requirements.
  • Attend and make reports to various committees, e.g. the Executive Risk Management and Conduct Committee, and the Board Audit and Risk Committees.
• Compliance Framework and Policy
  • Ownership and oversight of the bank’s Compliance/Conduct Risk frameworks and related policies, procedures, and controls.
  • Maintain ownership and governance of the Compliance Policy Framework, ensuring all policies are current, proportionate, and aligned to regulatory expectations.
  • Review and challenge first line policies and procedures.
• Assurance and Monitoring
  • Provides assurance to Senior Management that the bank is meeting its regulatory obligations, including, but not limited to:
  • Conduct of Business and Conduct Risk requirements
  • the Senior Managers and Certification Regime (SMCR) requirements related to marketing, product design, and customer disclosures.
  • the Systems and Controls requirements, including oversight of outsourced service providers.
  • non-financial regulatory reporting requirements.
  • Design and maintain a risk-based Compliance Assurance Plan aligned to the bank’s risk assessment and regulatory priorities.
  • Execute thematic reviews and deep dives across key regulatory risks.
  • Provide formal assurance opinions to senior management and the Board.
  • Leads the Compliance Training process, selecting training modules for all staff and monitoring completion.
  • Leads an annual Compliance Risk Assessment, assisting colleagues to identify and mitigate the risks for which they are responsible.
• Conduct Risk and Consumer Duty
  • Own the second line oversight of Consumer Duty, including monitoring of customer outcomes across the four outcomes (products and services, price and value, consumer understanding, consumer support).
  • Provide independent challenge on product governance, target market definition, and fair value assessments.
• Financial Crime Oversight
  • Supporting the MLRO in the discharge of responsibilities under the UK Money Laundering Regulations and Proceeds of Crime Act.
  • Escalation, review and submission of Suspicious Activity Reports (SARs) to the NCA.
  • Provide second line oversight and challenge of the bank’s financial crime framework, including AML, CTF, fraud, sanctions, and ABC controls.
  • Oversee the design, implementation, and ongoing effectiveness of the Financial Crime Risk Assessment (FCRA), ensuring alignment to the bank’s risk appetite and regulatory expectations.
  • Review and challenge first line customer due diligence (CDD/EDD), KYC, and onboarding processes, including high-risk customer approvals.
  • Oversee the adequacy and effectiveness of transaction monitoring, sanctions screening and name screening controls, including model tuning and alert handling frameworks.
  • Provide second line oversight of fraud risk management, including prevention, detection, and response arrangements.
  • Ensure appropriate governance and oversight of outsourced financial crime activities and third-party providers.
  • Lead or support investigations into financial crime incidents, breaches, or control failures, ensuring appropriate escalation, remediation, and regulatory consideration.
  • Provide financial crime MI and reporting to senior management Committees, Board Committees, including emerging risks, key control issues, and regulatory developments.
  • Ensure that financial crime policies, standards and procedures remain current, proportionate, and regulator-ready for an SDDT bank.
  • Oversee and advise on the design and delivery of financial crime training and awareness programmes across the bank.
• Regulatory Engagement and Change
  • Lead and coordinate second line input into regulatory engagement, including FCA/PRA supervision, thematic reviews, and information requests.
  • Support the CRO/CEO as required in supervisory interactions.
  • Lead horizon scanning and ensure translation of regulatory developments into actionable change initiatives, including financial crime risks.
  • Support the MLRO in regulatory engagement (FCA/PRA), including thematic reviews, information requests, and supervisory meetings.

Benefits

• 25 days holiday (plus bank holidays), rising to 30 days with service
• Private Medical Insurance
• Work from anywhere in the world for up to 30 days per year
• Group Life Assurance (4x salary)
• Income Protection Scheme
• Pension scheme (6% employer contribution, subject to 4% employee contribution)
• Employee Assistance Programme
• Two paid volunteering days per year
• Flexible hybrid working
• Very competitive family-friendly benefits such as enhanced maternity, paternity, adoption and special leave for life’s challenges along the way.