Job Summary

By providing guidance, assistance and challenge, this role is to ensure that the Wealth and Retail Bank (WRB) (Private Bank and Wealth (PvB and Wealth)) teams comply with core principles of the FCA regulations and the Group and local policies and procedures when developing and executing investment products for retail and professional clients serviced from the UK.

A good understanding and knowledge of MiFID II, PRIIPs, UK Financial Promotions rules, Market Abuse Regulations, Best Execution and key aspects of the FCA handbook as it pertains to a Private Banking and Wealth business in the UK is essential.
 

Key Responsibilities

• As UK WRB (Wealth and Retail Bank) Compliance, Financial Crime and Risk (CFCR) partner, guide and assist the relevant teams to complete activity (product development, distribution and execution) in accordance with compliance policy and requirements.
• Support, by helping to implement the vision, strategy, direction, and leadership for the UK Compliance, Financial Crime and Risk (CFCR) function.
• Proactively support and challenge the Private Banking and Wealth business to exhibit appropriate conduct, comply with regulatory and compliance requirements and strive to achieve fair outcome for clients.
• Guide the the Private Banking and Wealth teams on best solutions for compliance with Consumer Duty obligations and incorporating best execution, product governance and other associated policies.
• Further the culture of compliance and collaboration amongst the CFCR function and the Private Banking and Wealth business in the UK.
• Provide robust challenge to senior management and all relevant business stakeholders where activities are outside risk tolerance/ appetite, escalating as necessary, until appropriate oversight and ownership is achieved including actions and plans to address any remedial action needed to come back within risk tolerance/ appetite.
• Provide regulatory advice, analysis (and challenge when appropriate) in relation to the full product and distribution life cycle including product design and documentation, distribution strategy, through to post sale reviews/ assessments, new business initiatives, bespoke projects, remedial activities (including nature, scale and rigour of past business reviews), investigations.
• Assist the Private Banking and Wealth business with timely regulatory compliance advice to ensure compliance with all existing & new laws and regulations and support the transition to pro-active and pre-emptive compliance and conduct risk mitigation for the Private Banking and Wealth business in the UK.
• Review client facing transaction documents against the FCA financial promotions rules.
• Act as local Risk Owner (or delegate) in UK under the Group's Risk Management Framework for the Private Banking and Wealth processes where Compliance is the second line Risk Owner. 
• Insofar as they relate to regulatory compliance, be responsible for providing details of developments giving rise to a material risk that serious regulatory breaches or breaches of risk tolerances (as agreed by the Board from time to time) may occur and notifying any such breaches to Head of UK WRB CFCR and/or CCO and Head, CCIB Advisory, UK and Europe. 
• As an independent second line risk control function, execute the relevant aspects of the Compliance framework through robust independent risk control and the provision of specialist advice and constructive challenge in a manner proportionate to the nature, scale and complexity of the Group's business.
• Ensure effective management of compliance matters, and in collaboration with the wider CFCR teams, effectively manage regulatory issues that have a significant impact on the Group.

Key stakeholders:

• Prudential Regulation Authority, Financial Conduct Authority
• Head of PvB UK
• Wealth Management COO
• Business Risk Management, WRB UK and Jersey
• CCO and Head, CCIB Advisory, UK and Europe
• Chief Compliance Officer, Affluent and Wealth Management CFCR, UK 
• CFCR, WRB, Group
• Group Regulatory Liaison
• Head, Legal, WRB Europe
• Group Internal Audit 

Skills and Experience

• 5-6 years’ experience working within Compliance and Regulation within Private Banking or Wealth Management.
• Educated to degree level or equivalent Compliance qualification.
• A good understanding and knowledge of UK Financial Promotions rules and Investment suitability rules is essential. 
• A good understanding and knowledge of MiFID II, PRIIPs, Market Abuse Regulations, Best Execution, and key aspects of the FCA handbook as it pertains to a Private Banking and Wealth business in the UK. 
• Strong influencing and conflict resolution skills.
• Proven ability to convey complex concepts in a clear and concise manner, to potentially diverse audiences.
• Ability to consistently demonstrate decisiveness and sound judgment understanding of operational risk frameworks and systems.
• Sharp business acumen (including the ability to assess risk and appropriate levels of return), excellent interpersonal skills and multi-cultural awareness and sensitivity.
• Ability to collaborate and work dynamically across country, region, business and group stakeholders and the Compliance Function.
• Understanding of risk management techniques and frameworks.
• Exemplary integrity, ethics, independence, and resilience.

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.