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Head of Compliance, UK, Ireland, Middle East & Africa (SVP)
Who We Are Looking For
Our Head of Compliance for UK, Ireland, Middle East & Africa, is responsible for leading the Compliance function across the United Kingdom (UK), Ireland and Saudi Arabia, United Arab Emirates, Oman (MEA region).
This leadership role is a SMF 16 & SMF 3 for State Street Bank & Trust Company London Branch; SMF 16 for State Street Trustees Limited, and State Street Global Markets International Limited.
What You Will Also Be Responsible For
As Head of Compliance, UK, Ireland, Middle East & Africa, your responsibilities will include:
- Leading the Compliance function across UK, Ireland and MEA in its role as a strong and independent second line of defense that provides support to, and oversees the first line of defense, as it creates, maintains, and develops plans, policies, procedures and controls to enable business unit management to oversee compliance with regulatory obligations
- Setting the regional Compliance strategy and priorities in conjunction with the Global Chief Compliance Officer (CCO) and regional senior management
- Managing the UK Ireland MEA Compliance budget
- In collaboration with other global and regional Senior Compliance Officers and global Corporate Compliance functional heads, manage and oversee the execution of the compliance oversight programmes of all business units and legal entities within the UK, Ireland and MEA region
- Oversee Compliance Transformation for UK, Ireland and MEA. Manage and oversee Compliance operations throughout the region to achieve stated efficiency goals
- Responsible for overseeing the region’s overall compliance efforts and the ongoing quality of the business unit compliance programmes
- Escalate UK compliance issues to management and, where necessary, the FCA and PRA.
- Ensure appropriate regulatory communications with other regional regulators, e.g. CBI and FSRA, CMA et al.
- Collaborate with Legal, Regulatory, Industry and Government Affairs, Enterprise Risk Management, and Corporate Audit, as appropriate
- Oversee the monitoring of applicable regulatory changes in the UK, Ireland MEA region and coordinate the provision of effective support, advice and notification to relevant senior management within the business units, applicable functional area or relevant legal entity as they address and implement such changes
- Ensure the effective identification, measurement, control and management of compliance risk, ensuring that all relevant compliance teams adopt and follow the corporate compliance methodologies
- Oversee the development, implementation, review and revisions of group and regional compliance risk management policies, procedures and systems in conjunction with the relevant business-aligned and legal entity Compliance teams and, where relevant, the MLROs, to ensure that they meet local regulatory requirements and expectations in UK, Ireland and the Middle East
- Work with local Compliance teams and relevant senior management to ensure that UK, Ireland and Middle East regulators are kept informed on a timely basis of issues, of changes in strategy and other appropriate matters
- Support corporate and functional operating model changes in AML, Conduct and Privacy frameworks to ensure higher quality outcomes in these areas to cover local requirements in the region
- Provide regional oversight of and support to the MLROs, business-aligned and legal entity Compliance teams in the UK, Ireland MEA region in the discharge of their financial crime related obligations
Managerial
- Demonstrate ‘Risk Excellence’ culture by establishing the tone at the top, through personal accountability and ownership, education and awareness and reinforcing mechanisms
- Maintain a detailed understanding of:
- The scope of the role’s managerial responsibilities; and
- The competence of the staff reporting to the UK, Ireland MEA Head of Compliance.
- Ensure that the team has a clear understanding of their reporting lines, authority levels, scope of responsibilities (including those delegated to them and those they delegate), objectives, training and competency requirements. Review progress regularly in line with Company policy, and ensure staff are regulatory registered where appropriate for their role
- Establish and nurture a culture of individual ownership of tasks to embed a clear individual sense of accountability into staff members’ behaviour in performing their roles
- Ensure that the highest level of the Code of Conduct is displayed in your own and staff behaviour
- Establish and monitor systems of control, limits of delegation and escalation procedures so that the business complies with internal policies and external regulations can be managed effectively
- Adhere to the delegation and oversight (management information and escalation) framework in the performance of daily tasks. This includes taking proactive measures to ensure there is adequate production of management information that is fit for purpose, and issues are raised as appropriate
- Establish and monitor an effective delegation framework to ensure that tasks are performed by staff members with appropriate training and authority level (based on knowledge, skills and competence)
Senior Managers & Certification Regime
- The role includes management of the Senior Management Regime Office (SMRO), including arrangements in place to support adherence to the Senior Manager and Certification Regime (SMCR). Ensure all Prescribed Responsibilities and delegated responsibilities are discharged.
Global Programmes
- Contribute to Corporation-wide Compliance initiatives, including acting as the global lead for the Regulation K Compliance Programme
Committee Memberships Include
- Chair of the UK Compliance & Conduct Committee
- Member of the UK Country Committee
- Member of the UK Technology & Operational Risk Committee
- Member of the UK Change Management Committee
- Member of the Compliance Policy Oversight Committee
- Member of the Conduct Standards Working Group
- Attendee at the Global Business Conduct Compliance Committee
- Principal Compliance Representative for the State Street International Holdings Board
Qualifications And Skills Include
- Minimum of 20 years of related experience including time spent managing in an executive capacity
- Minimum of 10 years as a UK Compliance Leader in Financial Services, GSIB experience preferred
- Demonstrated regulatory experience aligned with: FCA, PRA, CBI, FSRA, CMA, Regulation K, and various other financial and non-financial risk related regulatory obligations
- Demonstrated global experience with compliance risk management skills in financial services
- Expert knowledge of Compliance principles and strategies and demonstrated impact of continuous improvement
- Demonstrated examples of operating with integrity, independence and objectivity while managing a large internal Compliance program
- Proven strength in building and leading strong teams
- Highly organized with extensive analytical, problem-solving and negotiation skills
- Proven interpersonal and communication skills (executive presence, gravitas and influencing skills) at both the executive and board level
- Ability to manage multiple simultaneous tasks in a high pressure, deadline-driven environment
- Ability to evaluate and interpret the law, regulations, and regulatory guidance.
- Ability to collaborate with individuals across business units/lines.
- Ability to take ownership, initiative to negotiate, influence, build consensus and successfully navigate within a demanding and international environment of a leading global financial institution.
- A minimum of Bachelor’s degree in Law, Finance, or Business Administration, or in a related field, or equivalent experience
- Post-graduate education, with a Master’s, Law, or Ph.D., degree is a plus
Are you the right candidate? Yes!
We truly believe in the power that comes from the diverse backgrounds and experiences our employees bring with them. Although each vacancy details what we are looking for, we don’t necessarily need you to fulfil all of them when applying. If you like change and innovation, seek to see the bigger picture, make data driven decisions and are a good team player, you could be a great fit.
About State Street
What we do. State Street is one of the largest custodian banks, asset managers and asset intelligence companies in the world. From technology to product innovation, we’re making our mark on the financial services industry. For more than two centuries, we’ve been helping our clients safeguard and steward the investments of millions of people. We provide investment servicing, data & analytics, investment research & trading and investment management to institutional clients.
Work, Live and Grow. We make all efforts to create a great work environment. Our benefits packages are competitive and comprehensive. Details vary by location, but you may expect generous medical care, insurance and savings plans, among other perks. You’ll have access to flexible Work Programs to help you match your needs. And our wealth of development programs and educational support will help you reach your full potential.
Inclusion, Diversity and Social Responsibility. We truly believe our employees’ diverse backgrounds, experiences and perspectives are a powerful contributor to creating an inclusive environment where everyone can thrive and reach their maximum potential while adding value to both our organization and our clients. We warmly welcome candidates of diverse origin, background, ability, age, sexual orientation, gender identity and personality. Another fundamental value at State Street is active engagement with our communities around the world, both as a partner and a leader. You will have tools to help balance your professional and personal life, paid volunteer days, matching gift programs and access to employee networks that help you stay connected to what matters to you.
State Street is an equal opportunity and affirmative action employer.
Discover more at StateStreet.com/careers
Job ID: R-770152
