- Locations One, Bank Street, London, E14 4SG, GB (On-site)
- Contract Type Permanent
Job Description
Introduction
The Risk and Compliance Monitoring Team is a Second Line of Defence function responsible for assessing the adequacy and effectiveness of the arrangements that the business has put in place to facilitate compliance with their regulatory obligations and manage their operational risks.
Its activity is defined by the annual Compliance Monitoring Plan (CMP) and Controls framework which are based on the key risks identified during the Compliance Risk Assessment (CRA) process, and other risk indicators such as operational loss events and business unit risk and control assessments (RCSA). The plans include a combination of thematic reviews, validation testing, controls testing, and mandatory controls and monitoring driven by specific regulatory requirements or internal undertakings.
The Monitoring team is responsible for the governance and oversight of the firms policy framework to ensure that UBP UK has in place the appropriate policies to govern the business.
Main Responsibilities
- Run the Compliance Risk Assessment (CRA) and the annual, risk-based Compliance Monitoring Plan (CMP) in addition to overseeing the control framework on a transversal basis for UBP UK its branches and the UBP SA Jersey branch of UBP SA.
- Collaboration with the Compliance teams and the business to proactively identify key emerging compliance risks across Union Bancaire Privée (UBP) UK and UBP SAJ and engage effectively with business unit contacts and management to incorporate into the CRA and Monitoring plan and activities.
- Manage and track identified actions resulting from monitoring issues to resolution.
- Assist senior management in ensuring that the firm establishes and maintains appropriate policies, procedures, systems, and controls to meet its regulatory obligations and requirements.
- Design, developmentment and maintenance of the periodic monitoring controls undertaken by the Compliance Monitoring team across the remit of Compliance.
- Manage and oversee the UBP UK Policy framework including responsibility for the policy committee and policy approval process
- Ensure that the organsion can maintain accurate and complete records in accordance with Union Bancaire Privée (UBP) UK policies and procedures, ensuring strong version control and detailed recordkeeping
- Support UBP UK in complying with all relevant legislation, rules, regulations, and codes of conduct.
- Safeguard the reputation of Union Bancaire Privée (UBP) UK.
Role Duties
- Ongoing ownership and maintenance of the Compliance Risk Assessment (CRA) and the annual, risk-based Compliance Monitoring Plan (CMP).
- Act as the point of contact and Subject Matter Expert for Compliance monitoring activities executed by the Compliance Monitoring Team.
- Manage and maintain the Union Bancaire Privée (UBP) UK Key Compliance Risk (KCR) library and Mandatory Monitoring List.
- Ownership and oversight for maintaining rule mapping documents for UBP UK entities and UBP SAJ branch of UBP SA.
- Maintain the annual CMP, including management of requests to update or amend the CMP throughout the year to accommodate any additional regulatory changes and/or other trigger events which may occur. This includes ensuring that the appropriate approvals at Audit Committee have been obtained.
- Maintaining the policies, desk-top procedures and templates required to undertake both periodic and thematic monitoring reviews.
- Manage and coordinate periodic CRA “Check Points” and updates
- Design, developmentand and maintenance of the periodic monitoring controls undertaken by the Compliance Monitoring team across the remit of Compliance in collaboration with the Head of Regulatory Compliance and the Head of Financial Crime Compliance. This includes the amendment, addition or removal of controls as required, these amendments may be the result of changes in regulations, business strategy, products/services or findings from monitoring or internal audit reviews.
- Oversight of the control framework and the controls undertaken by 1LOD and 1LODB
- Publish monitoring reports for these activities to the relevant Registered Compliance Officers, Money Laundering Reporting Officers and/or Money Laundering Compliance Officers and key stakeholders
- Complete the above points for UBP UK and branches across Guernsey Jersey and Gibraltar
- Assist the Chief Compliance Officer in providing regular management reporting in respect of the Compliance Monitoring plan, findings and actions to the relevant executive committees.
- Assist the Chief Compliance Officer in providing regular management reporting in respect of the the firms policies to the relevant executive committees
- Chairing the firms policy committee to ensure UBP UK policies are approved in line with the documented governance process.
- Firm standard requirement of 4 days in the office per week however need to be flexible depending on tasks.
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 Authoritity (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
- Significant financial services experience including a good understanding of the Financial Services activities performed by UBP UK entities in the UK, Channel Islands and Gibraltar (banking, investment management, wealth management and Asset Management)
- Factual analysis and report writing skills
- Ability to assess and analyse changes in laws and regulations
- Attention to detail and focus
- Good written and communication skills
- Strong project management and team leadership skills
- Team Spirit and Collaboration
- High level of competence in Microsoft Office packages, notably Excel.
- Knowledge of products services and front office
- Good knowledge and understanding of control and reporting tools
- Excellent interpersonal skills, to deal with staff of all levels.
Competencies and Values Required Level
Shows the drive to perform and be successful 4
Persistent in following up and through on issues 4
Upholds the legal, regulatory and ethical standard of the UBP Group 4
Good product knowledge 4
Knowledge of legal regulatory and industry requirements 5
Business Development 4
Communication - listening, written and verbal with clients 5
Influencing 4
Flexibility 4
Relationship Building - internal and external 4
Strategic & commercial awareness 4
Planning & organising 5
Ethics and values 4
Customer focus 4
Explanation: 1: low level of competence / skill required, 2-3: average level of competence / skill required, 4-5: high level of competence skill required
