Compliance Assistant

Who are 118118 Money?

At 118 118 Money, we are dedicated to helping Britain achieve financial fitness. In 2023, we proudly relaunched the iconic 118 118 twins, reaffirming our commitment to improving the financial health of individuals across the nation. Our loans and credit cards are designed specifically for those often overlooked by mainstream lenders, empowering over 800,000 customers on their journey to better financial well-being.

Our vision is to champion financial fitness throughout Britain by offering accessible products, valuable resources, and unwavering support. We are on a mission to provide fair and transparent credit solutions that promote financial well-being for all.

With an impressive 4.8 Trustpilot rating, we take pride in being an approachable lender, ready to provide clear financial support. If you’re inspired by what you’ve read and want to make a real difference in people's lives, keep reading — your next opportunity to contribute to our mission could be just a few clicks away!

What you'll do

As the Compliance Assistant, reporting to the Senior Compliance Manager, you will play a supporting role in delivering proactive support and constructive challenge as part of the second line of defence (2LoD). Your responsibilities will include assisting in the delivery of regulatory compliance advice, guidance, and oversight to first line of defence (1LoD) business teams, ensuring they meet their regulatory obligations and effectively manage compliance and conduct-related risks.

You will work closely with the Senior Compliance Manager to ensure the business complies with key regulatory frameworks, such as CONC, PRIN, SYSC, TCF, PERG, DISP, SMCR, Consumer Duty, and PSD2. Through your proactive support and constructive challenge, you will help the 1LoD teams manage compliance risks while promoting positive customer outcomes.

This position is ideal for a proactive, eager learner who is interested in developing their compliance skills and fostering a strong compliance culture within the organisation and for a motivated individual who is eager to advance their compliance career.

Key responsibilities

• Compliance Advice: Assist in providing regulatory compliance advice and support to first-line business teams. Help interpret and understand relevant regulations to ensure adherence to compliance requirements.
• Learning and Development: Engage in continuous learning about compliance regulations and practices. Participate in training sessions and workshops to enhance compliance knowledge and skills.
• Documentation Assistance: Support the Compliance Senior Manager and Officer in maintaining compliance documentation, including regulatory reporting packs and the Management Responsibilities Map.
• Monitoring Support: Assist in monitoring the compliance of business activities with relevant regulations and internal policies. Help identify potential compliance issues and support their resolution.
• Training Support: Aid in the development and delivery of compliance training programs to ensure that all staff understand conduct and compliance requirements.
• Conduct Risk Awareness: Learn about conduct risk management and assist in identifying and assessing conduct risks in business development and product governance.
• Incident Reporting Assistance: Support the identification, investigation, and reporting of compliance incidents. Collaborate with team members to ensure appropriate regulatory communications are made.
• Horizon Scanning: Participate in horizon scanning activities to identify emerging regulatory trends and their potential impacts on the business. Assist in ensuring the organisation is prepared for upcoming regulatory changes.
• Continuous Improvement Support: Provide feedback on compliance processes, policies, and procedures. Assist in the review of compliance frameworks and suggest improvements as needed.
• Industry Knowledge Development: Stay informed about developments in consumer credit and relevant regulations to enhance understanding and support compliance efforts.
• Other Tasks: Undertake other reasonable tasks as requested by the Compliance Senior Manager or management.

What you will need:

• Communication Skills: Strong written and verbal communication skills. Ability to collaborate with team members and ask questions.
• Eagerness to Learn: A strong willingness to learn about compliance and develop skills in the field.
• Experience: A foundational academic background in compliance, business, or a related field is required.
• Attention to Detail: Ability to pay attention to detail and ensure accuracy in tasks.
• Basic Understanding: Familiarity with compliance regulatory and industry concepts is required.
• Proactive Attitude: A positive attitude with a desire to contribute and assist the team.
• Academic Qualifications: Degree or equivalent academic achievement is required.
• Organisational Skills: Ability to stay organised and manage simple tasks efficiently.

What's in it for you?

• A competitive salary.
• Flexible, hybrid working opportunities.
• Company bonus scheme - if the business does well, you should get rewarded for your hard work.
• 25 days annual leave, (plus bank holidays) increasing to 27 after two years service and 30 after five.
• Company pension scheme – we provide an enhanced pension scheme with generous employer contributions to set you up for the future which includes life cover of 4x your base salary.
• Eye test - you can claim a freebie each year, or if your needs change.
• Employee Assistance Programme - we offer membership to a recognised scheme to support you and your wellbeing.
• A strong ethos of equality, diversity, and inclusion.
• Wide business exposure, in terms of business disciplines, projects and stakeholders.
• Direct contribution to business transformation and growth.
• Huge learning and career progression opportunities.
• Being valued as an individual from our team.
• Full training, support and mentoring to develop a successful career in financial services.

Like what you've heard? Great - apply now!

As a candidate, we know the interview process can be daunting and it’s important that you have a great experience with us. We will do all we can to make sure you are fully informed and excited by our story so we get to see the best from you. If you need any adjustments made to help you with the interview process, just let us know and we’ll do our best to accommodate them.

Following your application, we will want to learn more about you, your motivations, experiences, and values. In turn, you get to learn about our business, our culture, the role and what we can offer you.

Equal Opportunity Employer

At 118 118 Money we are passionate about equality, diversity, and inclusion. We are committed to being representative of different cultures, background, lifestyles, and groups, where everyone has an equal chance to succeed. It is our policy to treat everyone fairly and to ensure no one is disadvantaged or receives less favourable treatment. We recognise that everyone has different needs and while we can’t accommodate every flexible working request we are more than happy to have a conversation about it.

If you think you’d be great for the role, but don’t necessarily tick all the boxes, we’d still love to hear from you, so apply today and take the first step towards an exciting future!

How we handle your data

118 118 Money requires your personal data to process your application for a position within our Company. If your application is successful through to telephone screening/interview, and you are not selected for a role, we may store your personal data for 12 months to enable our HR team to contact you should future roles be advertised.

Where you apply, but are not selected for telephone screening/interview, we will delete your personal data once the position is filled.

118 118 Money does not use automated decisioning or profiling when selecting candidates. For your rights under GDPR please see our Privacy policy.

Please be aware that should we pursue your application, all our Financial Services employees will be expected to complete background checks to assess suitability for employment, these include; a criminal record, identity, sanctions, adverse finance, fraud prevention and reference checks to comply with our regulatory requirements.