Compliance Officer

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 Officer, you will support the Senior Compliance Manager in leading the Advisory function, playing a crucial role in ensuring the business adheres to regulatory obligations. Your key responsibility will be to provide proactive support and constructive challenge as part of the second line of defence (2LoD), assisting in delivering regulatory compliance advice, guidance, and oversight to first line of defence (1LoD) business teams. This will help ensure they effectively manage compliance and conduct-related risks.

Working closely with the Senior Compliance Manager, you will ensure the business complies with critical regulatory frameworks, including CONC, PRIN, SYSC, TCF, PERG, DISP, SMCR, Consumer Duty and PSD2. Through proactive guidance and constructive challenge, you will support the 1LoD in managing compliance risks and ensuring positive customer outcomes.

This role is ideal for a proactive, detail-oriented compliance professional eager to support a key compliance function. It provides the opportunity to contribute to the business’s success by promoting regulatory adherence, supporting the protection of vulnerable customers, and fostering a positive compliance culture.

Key responsibilities:

• Compliance Advice: Assist in providing timely and accurate regulatory compliance advice and support to the first-line business teams. Help interpret and apply relevant regulations to ensure adherence to compliance requirements.
• Relationship Management: Build and maintain strong, collaborative relationships with first-line teams to facilitate effective cooperation between Compliance and the business.
• Compliance Monitoring: Support the Senior Compliance Manager in monitoring the compliance of business activities with relevant regulations and internal policies. Identify potential compliance issues and assist in their resolution.
• Training and Awareness: Assist in the development and delivery of compliance training programs to ensure all staff understand conduct and compliance requirements.
• Regulatory Reporting: Help prepare regulatory reporting packs and ensure compliance with reporting requirements. Assist in the maintenance of the Management Responsibilities Map.
• Conduct Risk Management: Support the identification and assessment of conduct risks in business development and product governance, ensuring that compliance and regulatory requirements are prioritised.
• Incident Management: Assist in the identification, investigation, and reporting of compliance incidents. Collaborate with relevant stakeholders to ensure appropriate regulatory communications and notifications.
• Horizon Scanning: Contribute to horizon scanning activities to identify emerging regulatory trends and potential impacts on the business. Assist in ensuring the organisation is prepared for upcoming regulatory changes and evolving industry standards.
• Continuous Improvement: Provide feedback on compliance processes, policies, and procedures. Assist in reviewing compliance frameworks and suggest improvements as needed.
• Industry Knowledge: Stay updated on developments in consumer credit and relevant regulations to enhance compliance practices.
• Other Tasks: Undertake other reasonable tasks as requested by the Senior Compliance Manager or management.

Who you are and what you’ll need:

Our ideal candidate will be a consummate professional with the following knowledge, capability and experience:

• Communication Skills: Strong written and verbal communication skills. Ability to build relationships and collaborate with team members.
• Willingness to Learn: A proactive attitude towards learning about compliance roles and responsibilities.
• Experience: Proven experience in compliance or related fields, with a solid understanding of compliance and conduct risk frameworks, is required.
• Judgment and Decision-Making: Good judgment and the ability to assist in identifying compliance issues and supporting their resolution.
• Regulatory Knowledge: Familiarity with FCA regulatory requirements, overarching rules and obligations. Specifically: CONC, PRIN, SYSC, TCF, PERG, DISP, SMCR, Consumer Duty and PSD2.
• Proactive Approach: Self-starter with a willingness to learn and strong problem-solving skills.
• Compliance Culture: A commitment to contributing to a positive compliance culture and providing constructive feedback.
• Academic Qualifications: Degree or equivalent academic achievement is required.
• Work Ethic: Commitment to continuous improvement and enhancing compliance practices.
• Organised: Strong organisational skills, with the ability to manage competing demands effectively.

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.