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Overall purpose of the role.
The incumbent will act as a core member of the CIB Compliance Team, supporting a broad range of Advisory Compliance activities across the support and control functions of the UK branch. The individual will act as a primary point of contact within Compliance for the Support, Control and Conduct Functions.
The role will involve developing relevant local compliance policies and procedures as well as coordinating and monitoring the effectiveness of compliance support for the UK branch within the framework of the overall our investment banking clients global compliance strategy and the compliance strategy set by the UK Head of Compliance.
The incumbent is required to establish strong relationships with colleagues in the support, control and conduct functions locally and also with relevant Head Office staff.
Main responsibilities of the role.
Compliance Policies and Procedures
- To provide that there are adequate, current, clear and sufficiently detailed compliance policies and procedures in place for the control, support and control functions so that relevant UK regulatory and legal requirements, regulations, rules and Head Office requirements are properly disseminated and understood.
- To work closely with the Regulatory Watch, Policy and Training Officer to ensure there is an effective and targeted regulatory watch process on an ongoing basis, so as to identify new laws, regulations and best market practices/regulatory expectations that will affect these functions.
- To assist in developing policies and procedures in conjunction with other Business Compliance Officers and the Regulatory Watch, Policy and Training Officer.
Regulatory Advice and Queries
- To provide effective and co-ordinated compliance advice in a timely manner to management and staff across the UK branch, as well as providing for an appropriate and timely two-way flow of information between Compliance and the the support, control and conduct functions. Compliance advice will include consideration of best practice, the regulatory requirements of competent authorities, as well as compliance with internal procedures and directives.
- In respect of enquiries from Regulatory bodies, to work with the relevant functions (such as Operations, Legal, etc) to provide an accurate and considered response within the required deadline.
- Assist in the evaluation of new business initiatives/products impacting the UK branch and risk assess any such initiatives including regulatory impact and ensure compliance with internal requirements.
Training and Awareness
- Work with the Regulatory Watch, Policy and Training Officer to develop, organise and deliver regular compliance training, targeted themed training, induction training and general awareness campaigns (in conjunction with the Central Compliance team), so as to maintain awareness by UK branch employees of applicable rules, regulations and best practice.
Compliance Monitoring Programme
- To support the Compliance Monitoring Programme for the UK branch, including reporting on identified weaknesses and monitoring implementation of agreed action points. Compliance monitoring is led by the Compliance Controls function, but this should not preclude the incumbent from initiating monitoring in areas not covered by the agreed plan.
- Support the annual Compliance Risk Assessment programme for the UK branch ensuring risks and controls are correctly identified and recorded.
Rolling Business Reviews
- Once implemented, to provide input into the planning of, and participate in, regular risk-based reviews across their areas of coverage (in conjunction with other members of the Compliance Department as applicable), reporting on identified weaknesses and following through to ensure implementation of agreed action points.
Conduct
- To work with the EMEA and Global Heads of Conduct to ensure that the Global and local Conduct frameworks reflect UK regulatory expectations and good practice.
- Management Reporting
- To support the development and production of complete accurate and meaningful monthly Management Information for their areas of coverage and ensure that it is delivered on time for routine Compliance reports to management.
