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- Tasks: Provide compliance advice on Consumer Credit for Private Client business.
- Company: Join a leading financial institution focused on private banking and consumer lending.
- Benefits: Enjoy flexible working options and a supportive corporate culture.
- Why this job: Make a real impact by ensuring clients receive fair treatment and good outcomes.
- Qualifications: Experience in compliance advisory, especially in regulated lending, is essential.
- Other info: Stay updated on market changes and regulations while working in a dynamic environment.
The predicted salary is between 43200 - 72000 £ per year.
The post-holder will:
- Provide accurate, timely and practical regulatory compliance advice to the Private Client business on Consumer Credit.
- For regulated lending, advise on the meaning and application of FCA rules and guidance applicable to secured lending (MCOB + any legacy Article 3.1(b) agreements and CONC rules and guidance) as well as PRA BTL lending, taking into account requirements from other sources (e.g. Consumer Duty, Consumer Credit Act (CCA) legislation, industry standards and best practice codes)
- For unregulated lending, advise on the meaning and application of rules and guidance that apply to any regulated aspects or general conduct expectations
- Ensure issues of potential regulatory risk (including potential regulatory breaches) are identified and managed (and/or escalated as required) promptly and appropriately, having regard to the need to treat clients fairly, help clients to achieve good outcomes, acting when clients achieve poor outcomes and manage IBP\’s Retail regulatory and conduct risks
Core Skills and Knowledge
- A number of years\’ compliance advisory experience, ideally with a background in regulated lending
- Strong and proven working knowledge of FCA regulation with particular emphasis on MCOB, CONC, Consumer Duty + PRA BTL lending regulation and experience of providing advice on these regulations to a regulated firm
- Sound knowledge of retail lending products for consumers, with experience working with lending to private banking clients welcomed
- Ability to think clearly and apply technical regulatory knowledge to commercial demands of business
- Adept at tracking changes in the market, products, legislation and regulation relevant to the business areas and communicating them out in a digestible manner
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Private Banking Compliance Advisor , Consumer Credit employer: Utah State Extension
Contact Detail:
Utah State Extension Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Private Banking Compliance Advisor , Consumer Credit
✨Tip Number 1
Familiarise yourself with the latest FCA regulations, especially MCOB and CONC rules. Understanding these regulations in depth will not only help you during interviews but also demonstrate your commitment to compliance in the private banking sector.
✨Tip Number 2
Network with professionals in the compliance and private banking sectors. Attend industry events or join relevant online forums to connect with others who can provide insights and potentially refer you to opportunities at StudySmarter.
✨Tip Number 3
Stay updated on recent changes in consumer credit legislation and market trends. Being able to discuss current issues and how they impact compliance will set you apart as a knowledgeable candidate.
✨Tip Number 4
Prepare to showcase your problem-solving skills by thinking of examples where you've identified and managed regulatory risks in previous roles. This will highlight your ability to handle the responsibilities of the Private Banking Compliance Advisor position effectively.
We think you need these skills to ace Private Banking Compliance Advisor , Consumer Credit
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your compliance advisory experience, particularly in regulated lending. Emphasise your knowledge of FCA regulations, MCOB, CONC, and Consumer Duty, as well as any relevant experience with private banking clients.
Craft a Strong Cover Letter: In your cover letter, clearly articulate your understanding of the regulatory landscape and how your skills align with the requirements of the Private Banking Compliance Advisor role. Use specific examples from your past experience to demonstrate your ability to provide practical compliance advice.
Showcase Relevant Skills: Highlight your ability to identify and manage regulatory risks. Discuss your experience in tracking changes in legislation and how you've communicated these changes effectively within your previous roles.
Proofread Your Application: Before submitting your application, carefully proofread all documents for clarity and accuracy. Ensure that your language is professional and free of errors, as attention to detail is crucial in compliance roles.
How to prepare for a job interview at Utah State Extension
✨Know Your Regulations
Make sure you have a solid understanding of FCA regulations, especially MCOB and CONC rules. Be prepared to discuss how these regulations apply to both regulated and unregulated lending, as well as any recent changes in legislation.
✨Demonstrate Practical Experience
Highlight your previous compliance advisory experience, particularly in regulated lending. Share specific examples of how you've successfully navigated regulatory challenges and provided sound advice to clients.
✨Showcase Your Analytical Skills
Be ready to demonstrate your ability to identify potential regulatory risks and how you would manage or escalate these issues. Use real-life scenarios to illustrate your problem-solving skills and your commitment to treating clients fairly.
✨Stay Updated on Industry Trends
Discuss how you keep track of changes in the market and relevant regulations. Mention any resources or networks you utilise to stay informed, and be prepared to share insights on how these changes could impact the business.
