Purpose of the role:
C. Hoare amp; Co. is a strong and stable bank, which has grown progressively and safely throughout its many years of existence. There is a keen desire to ensure that this continues, and that the bank navigates its way effectively through the complexity of the regulatory environment.
This is a senior role within the Compliance Team, reporting to the Head of Compliance (SMF16), and is responsible for leading on banking, payments and general compliance advisory matters, and supporting the Head of Compliance to create and maintain an environment in which senior management and the business are able to comply with UK regulatory requirements.
The role holder will have demonstrable experience of compliance in a regulated environment advising senior stakeholders on banking and payments conduct regulations, and application of the Consumer Duty throughout the product/customer lifecycle.
The Compliance Team sits within the Risk amp; Compliance department, led by the Chief Risk Officer (SMF4). The Compliance Team provide:
· oversight of the Bank’s compliance with applicable regulations;
· advice and guidance to the Board, Senior Management and the First Line on regulations and compliance risk; and
· reporting on the effectiveness of compliance arrangements.
A core component of this is the provision of oversight and challenge in relation to the bank’s regulated activities.
The value you will add to key stakeholders:
The Board and the Management Team want to ensure that the bank is complying with obligations of the regulatory system, delivering good customer outcomes, and is not running unexpected regulatory risks.
This role adds value by:
· Providing clear visibility and analysis of upcoming legal and regulatory change to key stakeholders, thereby allowing effective strategic planning to take place.
· Providing advisory support to 1st Line business partners on Banking and Payment Conduct Regime within the FCA Handbook, Payment Services Regulations, and related regulation
· Anticipating future needs that may affect the team or organization, and adapting quickly to changing priorities
· Creating new and better ways for the Bank to be successful
· Searching for ways to enhance compliance arrangements, and holding others accountable for meeting regulatory and customer expectations.
· Set high standards of performance for self and team, and helping others meet commitments, goals and deadlines.
Role Responsibilities:
This role reports directly to the Head of Compliance. The principal duty of this role is to provide day-to-day oversight and monitoring of the regulatory landscape and horizon, to ensure that new and evolving regulation is adequately identified and appropriately disseminated to all key stakeholders in a timely manner. The relevant responsibilities of the role are:
Horizon Scanning
· Monitor the regulatory horizon for impacts on all aspects of the bank’s business. Through interpretation and analysis, provide timely assessment of the potential impact on the bank’s strategy and operations.
· Alongside appropriate areas of the business, assess the relevance of new or changing FCA regulation in respect of the bank’s business model keeping appropriate records of determinations and interpretations.
· Track, record and disseminate PRA and other prudential regulatory requirements, and assist, where appropriate on assessing the relevance to the bank.
· Attend appropriate industry briefing on relevant topics ensuring that outputs from these briefing are then appropriately disseminated to stakeholders within the business.
· Maintain and update the library of regulatory developments, and provide consistent, practical, and appropriate reports to the MT and Committees.
Compliance Advisory
· Act as the lead compliance advisor to the business on application of the FCA Handbook (specifically BCOBS, PRIN, PROD), Payments Services Regulations and related UK law and regulation.
· Support the Head of Compliance (SMF16) with FCA and PRA engagement, including regulatory visits, returns, notifications and responses to consultations and ad-hoc requests.
· Review customer communications and other marketing materials, ensuring regulatory considerations are adequately addressed.
· Oversee the bank’s management, reporting and resolution of compliance-related incidents and breaches.
Compliance Policy
· Establishing, managing, and implementing compliance-related frameworks, policies, processes, and standards across the organisation
· Reporting on compliance risk management, including current and trending risks to leadership
· Owning and collaborating with functional teams on the implementation of regulatory and business