Head of Compliance

• Managing the Isle of Man and UK Compliance Team for the Bank, and with approval will hold the R13 role for the Bank
• Ensuring and monitoring compliance with the Bank's legal and regulatory obligations in both the Isle of Man and in the UK, and is required to provide objective assessment and objective reporting to ARCC.
• Actively work to ensure that there are adequate and effective controls in place to mitigate against regulatory risks, reputational, legal and operational risks.
• Responsible for the continued successful delivery of the Compliance function across the Bank in both the IoM in compliance with FSA rules and guidance and in the UK in compliance with FCA and PRA rules and guidance.

• 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.

• To act as Head of Compliance for the Bank with responsibility for ensuring compliance with all risk-related legislation, regulation, guidance and applicable codes of practice in the IoM and in the UK;
• You must be accepted by the Isle of Man FSA as R13 Head of Compliance.
• Assist with Risk and Compliance matters concerning the Bank and enquiries from external advisors and/or regulators.
• Manage the Compliance Teams, providing leadership and strategic input.

• ARCC, MD, EXCO

• As a member of the senior management team provide leadership to employees in support of delivery of the operating plan and the development of a positive risk and compliance culture.

• Empowered to ensure all IoM and UK Compliance documentation is in line with current applicable rules, guidance, regulations and legislation.
• Responsible for the decisions relating to staff within the Bank's Compliance Teams (except decisions taken by R15, 16, and 17 in relation their statutory obligations/functions).
• Mandated signatory in accordance with the delegated authorities.

• Hold a relevant professional qualification, or have a minimum of 15 years relevant industry.  
• experience (e.g., Compliance/Risk/Internal Audit/Legal).
• Up to date working knowledge of international financial risk and regulatory standards.
• Experience in compliance reporting, preferably in an organisation with multiple business line and geographies.
• Systematic work approach and attention to detail.
• Good procedural and/or report writing skills.
• Ability to work under pressure and to tight deadlines.
• Strong Strategic and analytical thinking.
• Excellent communication skills.

Your specialist: Mark Burman

Quote job ref: 16292

Hi, I'm Mark and I look after all the temp / contract roles. If this exciting job sounds up your street, please submit your details, we look forward to hearing from you.

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