Head of Compliance

• Lead compliance with all Isle of Man legislation, regulation and applicable codes of practice in the markets in which we operate (excluding company law and employment law).
• Identify potential areas of compliance vulnerability and risk - develop/implement corrective action plan for resolution of problematic issues and provide general guidance on how to avoid or deal with similar situation in the future.
• Implement effective issues and actions tracking, with appropriate escalation and reporting, for open risks.
• Develop, maintain and analyse key risk data in order to inform and support reporting on internal regulatory controls.
• Present management, ARCC and Board with regular reports on the status of internal regulatory control environment, regulatory engagement and external horizon scanning for the Bank.
• Plan and deliver a compliance training programme (to cover general compliance, AML/CFT, financial crime requirements) for both new and existing staff as required.
• Coordinate IOM based compliance monitoring and assist with a wider programme of compliance monitoring as required, to ensure that controls are adequately designed and operating effectively to maintain compliance with all applicable law and regulation.
• Maintain adequate compliance policies in line with regulatory requirements, including the annual review and refresh of relevant manuals, policies and procedures.
• Manage and monitor the effective implementation of compliance related policies, including the maintenance of all registers and logs required by the FCA Sourcebook, and FSA Rulebook/Handbook and the PRA rules and guidance(as applicable).
• Manage a register of regulatory returns and notifications, ensuring that submissions are planned, owned and delivered in an accurate and timely manner.
• Manage all ad hoc notification, consent or registration requirements relating to the Bank's registration with the FSA, using specialist external support where appropriate.
• Review and analyse new legislation and regulation, engage with the business in order to assess the impact, plan the implementation of regulatory change and embed within company policies and procedures.
• Coordinate the management of queries and referrals received into the team, ensuring that internal processes lead to queries being dealt with in a constructive and timely manner.
• Support regulatory visits or enquiries, with completion of preparatory work, engagement with on-site examinations, and follow-up activity.
• Provide compliance thought-leadership in support of corporate projects.
• Actively promote risk and compliance awareness within the business and the development of a positive risk and compliance culture, including the provision of regulatory compliance and risk related coaching to the business as required.
• Responsibility for escalating correspondence from the FSA to the appropriate governing bodies within the Bank.
• Building and maintaining flexible working partnerships both internally and externally.
• Promoting and adhering to the Bank's culture and values.
• Manage and train the Compliance Teams within the Group.
• Providing support to the Compliance leads and MLROs within each subsidiary as needed to fulfil their duties under SMF 16 and 17 and any corresponding FSA R15 requirements.
• Providing support to the UK SMFs as needed to fulfil their duties under SMF 22 and any corresponding FSA/FCA/PRA requirements.
• Developing training material for the Bank in line with regulatory standards.
• Oversight of the SMF 16 and 17 functions-holder to ensuring that the Bank's business meets its regulatory obligations in accordance with its regulatory footprint.
• Membership of EXCO, RMCO, ALCO, CONCO, CCO, OPCO and SFCCO

Your specialist: Anne Murray

Quote job ref: 16199

Hi, I'm your specialist Anne and I can't wait to hear from you about this job. You can simply submit your CV or call me on 678144 with any questions.

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