Business Monitoring Officer in London

Locations One, Bank Street, London, E14 4SG, GB (On-site)

Contract Type: Permanent

Main Responsibilities

• Business Risk: Assist with implementing the Bank’s Suitability Framework, creating the relevant procedures and guides, providing training on documents and systems relevant to suitability and guiding the Front Office on best practices.
• Business Monitoring: Assist with implementing procedures and control solutions and monitoring business activities to ensure compliant Front Office & Client Documentation staff and activities, providing assurance on the quality of the controls and tasks performed. Conduct investigations in relation to procedural and control issues and lead associated remediation activity.

Role Duties

Key Accountabilities

• General: Maintain a Group-wide and ‘team’ perspective in project leadership and business support activities, balancing commercial and control requirements whilst recognising location differences where they need to be applied; comply with external regulatory and internal policy requirements, including the Bank’s global and regional Directives, Policies, Operating Procedures and controls to meet the Bank’s local regulatory requirements and to protect the business from financial, regulatory and reputational risk.
• Quality Assurance, Monitoring and Oversight: Monitor Private Banking and Client Documentation processes and activities, seeking continuous improvement and assuring quality; perform assurance testing on key aspects of risk and controls; review/monitor defined activities in conjunction with Risk/Compliance; monitor Private Banking and Client Documentation rectification of document deficiencies or completion of remediation project work; assist with completing the Team’s Management & Functional Controls; review and approve, where appropriate, exceptions to processes and re-tagging of clients.
• Procedures & Controls Implementation: Assist with reviewing and agreeing local Directives and Policies; review and implement User Guides and Key Operating Procedures for key Front Office and Client Documentation processes; assist with implementing and reviewing the Management & Functional Controls (MFCs) for the London Private Banking business; agree specifications and provide support for testing and sign off for implementation of PB Portal/other systems enhancements; provide input to, or represent, Private Banking in operational/regulatory initiatives or projects; collaborate with support functions (e.g. Risk, Operations) on compliance, loss prevention and workplace efficiency; find and implement solutions for ad-hoc queries from Private Banking staff.
• Audits / Investigations and Remediation: Investigate and report on operational issues/errors and ensure client complaints are escalated; provide monthly management information for specified risk items to Risk for presentation at the London Compliance & Risk Committee/Management Committee for management oversight and review with relevant stakeholders; assist with the production of client data lists, and analysis in response to audit comments and audit points; assist with the remediation of any open audit points to closure; follow up on risk issues logged in the risk database owned by Private Banking.
• Training: Support the development of training guides on key business processes to assist in improving knowledge and reducing operational errors; contribute to/deliver relevant regulatory/internal training to ensure competent and compliant staff and activities; deliver relevant induction training for all new staff within Wealth Management.

This role is required to comply with the Financial Conduct Authority’s (FCA) Individual Conduct Rules, which are: to act with integrity; to act with due skill, care and diligence; to be open and cooperative with the FCA, the Prudential Regulation Authority (PRA) and other regulators; to pay due regard to the interests of customers and treat them fairly; to observe proper standards of market conduct; and completion of UBP Annual Compliance training programme.

Critical Competencies: skills and abilities required for the role:

• Strong understanding of UBP systems and procedures.
• Strong understanding of risk management principles and tools.
• Strong understanding of local regulatory requirements.
• Strong understanding of business processes and associated controls within financial institutions, preferably within Private Banking.
• Strong organisational and attention to detail skills, with the ability to handle multiple tasks and meet deadlines.
• Strong communication, stakeholder engagement and relationship building skills with key stakeholders.
• Strong analytical and problem solving skills.
• Strong management and project management/co-ordination skills.
• Strong understanding of Microsoft Office Applications, in particular Excel.