Associate Compliance Specialist – CER Financial

Job Title: Associate Manager – Compliance

Department: Compliance

Reports to: DGM Compliance and Risk

Purpose of the Job

Supporting Head of Compliance and collaborating with the rest of the department to identify and clarify current internal Compliance, AML and Financial Crime practices and controls within the Bank, and to diagnose and develop enhanced procedures to ensure Bank wide compliance with all regulatory, financial and core operational system requirements.

Principal Accountabilities

This role is required to engage with all business lines and departments.
Review internal and external business-related documents and templates from a legal perspective providing analysis and feedback as and when required.
Liaise with third party legal advisors and/or consultants as and when required.
Review all third party and supplier contracts ensuring that they have been authorised appropriately (signed, dated etc.) and are compliant with delegated authority and terms and conditions.
Work alongside the Compliance Manager in ensuring that the regulatory risks to company activities are identified, measured, monitored and controlled, taking into account the requirements of the annual Compliance Monitoring Programme.
Assist with the development of best practices in compliance control by ensuring that a comprehensive suite of compliance documentation/policies are in place, developed/updated and maintained including the Compliance Manual and Prevention of Financial Crime Manual.
Ensure the provision of accurate and timely advice and guidance on regulatory issues, business standards, policies and procedures, ensuring the consistency and dissemination of best practices. Supporting the 1st line of defence in embedding best practice in relation to Compliance.
Annually review, update and robustly carry out the Compliance Monitoring Plan providing challenge to the business/operations where required.
Ensure that the Compliance Monitoring Plan is aligned with current PRA/FCA regulations, identified products and risks.
Undertake allocated tasks within the plan to completion and report the findings to the MC and RCC.
Annual review and update of the relevant Compliance policies and procedures including the Compliance Manual, ensuring that it covers PRA/FCA regulations, identified products and risks.
Presentation of Compliance Monitoring Plan to the RCC for approval.
Staying abreast of key regulatory changes to ensure proactive communication with the business and develop/update appropriate policy and framework to reflect the changes.
Monitor regulatory developments and promote industry best practices, identify and communicate relevant areas to stakeholders and ensure required changes are aligned to company policies, processes and ethics.
If and when required, provide input in the preparation of the monthly Management Committee reports and quarterly Risk and Compliance Committee reports.
Liaison with other Departments concerning Compliance developments
Provide cover for the Compliance Manager in their absence.
Any ad-hoc tasks or projects assigned by the DGM Compliance as and when required.

Skills/ Experience

A compliance professional with 5 years of proven background in the compliance and regulatory field.
Proven experience of policy writing, development and implementation – e.g., Compliance Manual, Financial Crime etc. An understanding of wholesale banking and/or trade finance.
A good understanding of regulatory rules/laws, industry issues and business operations
Good knowledge of financial crime and regulatory requirements
A proactive thinker / a problem solver – with an ability to understand and resolve issues, be able to analyse a large volume of information/data and provide a succinct summary or propose suggestions to senior management.

Qualification

A law degree.
Relevant academic professional qualifications – i.e., Securities Institutes Diploma in Regulation &Compliance and/or Anti-money Laundering Diploma are also highly desirable.

Key relations

FCA /PRA/BOE
External consultants
All departments