Compliance Officer - London or St Albans

In order to ensure best and consistent practice across all departments and offices of Mercer & Hole, there is a requirement to resource additional skilled support to the partners of the firm, to address compliance risk. This role will ensure that the firm adheres to legal, regulatory, and internal standards, while also identifying, assessing, and mitigating risks as matters arise. Best and consistent practice will involve designing, reviewing, managing and adapting our approach in how we address compliance risk.

This position is essential to maintaining the firm's integrity, protecting client information, and preserving the firm's reputation.

This role is not expected:

• to have any dealings with the FCA and Financial Planning regulations; or
• compliance in relation to the Insolvency Act and Rules.

Main function of job

(Note: in addition to these functions employees are required to carry out such other duties as may reasonably be required).

As an ICAEW firm, registered for audit, it is expected that the firm complies with all necessary technical requirements of our registrations and associated codes of conduct therein - including, but not limited to, a range of investment business activities, reserved legal activity of non-contentious probate, and subject to the ICAEW's Code of Ethics and Professional Conduct in Relation to Tax.

A full understanding and continued appraisal of these requirements is required to ensure that the firm's practises enable adherence to them, with ongoing adaptation as appropriate. To bring about:

• Risk reduction: Proactively identifying and managing risks helps prevent financial losses, reputational damage, and regulatory penalties.
• Regulatory Compliance: Ensures the firm avoids legal issues, fines, and sanctions by staying compliant with regulations.
• Client Trust: Promotes client confidence by safeguarding sensitive data and upholding ethical standards.
• Operational Efficiency: Establishes effective controls, processes, and training that streamline compliance across the firm's operations.

Key Responsibilities and Main duties

Regulatory Compliance:

• Professional bodies - ensures compliance with the appropriate regulations of the firm, including but not limited to, ICAEW member firm rules and regulations (the Audit Regulations and Guidance, DPB Handbook, Probate Regulations and Practice Assurance Regulations), CIOT and STEP member requirements, approved training firm requirements under all professional bodies supported by us as a firm (for example CTA, ACCA, AAT, ATT, CIPP).
• Supports the firm's Audit Compliance Principal/ Partner - in ensuring compliance with International Standard on Quality Management 1 (ISQM1).
• Professional firm legal requirements - ensures adherence to necessary Acts where we have a duty to report behaviour that contravenes said Acts, whether internally or relating to clients of the firm, including but not limited to Anti-Money Laundering Regulations 2017 (as amended), The Proceeds of Crime Act 2002, The Bribery Act 2010, The Criminal Finance Act 2017 and relevant data protection legislation, including GDPR/Data Privacy, Cybersecurity.
• Stays updated on regulatory changes and assesses their impact on the firm. A full understanding and continued appraisal of the firm's regulatory requirements is required to ensure the firm's practises enable full adherence to them, and that the firm has the agility to make ongoing adaptation as appropriate.
• Implements and manages policies that meet regulatory requirements for ethical conduct, client confidentiality, and reporting standards.
• Ensures the firms' terms of engagement, schedules of services, standard terms and conditions and other formal external and internal terms are reflective of practical behaviours and suitably accurate so as to mitigate against risk of claim against the firm.
• The role would be considered for the role of Money Laundering Reporting Officer if holds suitable experience and professional qualification.

Risk Assessment:

• This role reviews risk management related policies and procedures, the documentation and practical application thereof being at the forefront of any review.
• Identifies potential financial, operational, reputational, and compliance risks across client engagements and internal operations and identifying how practical processes should change in response.
• Conducts regular risk assessments to identify gaps or issues and respond in a timely way.
• Advises leadership on identified risks and recommend and implement practical mitigation strategies.

Collaboration of Internal Controls and Policy Development:

• Works collaboratively with various departments, including HR, IT, Finance and internal administration to integrate policies and procedures into daily business operations.
• Ensures that policies regarding client acceptance, ongoing independence and other ethical matters, including client confidentiality are followed.

Training and Awareness:

• Conducts and/or arranges training for staff on compliance topics such as data privacy, anti-money laundering (AML), and ethical standards.
• Promotes a culture of compliance and integrity across the firm.

Client Due Diligence:

• This role oversees the client acceptance process, including training and support for those performing Know Your Client (KYC) checks and due diligence to manage financial crime and money laundering risks, as well as internal 'quality client' take-on and disengagement policies.
• Supports the client facing teams in assessing new clients' risk levels and determining appropriate measures in response to the risk level arising, including ongoing monitoring processes thereof.
• Supports the administration teams with processes for documenting client take-on and setting clients up within our control environment for central client management and ensuring they reflect responsible persons and the following of procedures appropriately.

Incident Management:

• Manages any compliance or risk incidents, including investigations and reporting as necessary.
• Reviews and, where appropriate, improves protocols for incident reporting, to ensure they are effective, responsive, and reach timely remediation.

Monitoring, Reporting and Communication:

• Conducts internal checks to verify adherence to internal controls and identify areas for improvement.
• Prepares reports and appropriate submissions on compliance activities and risk assessments for senior management and where required, regulatory bodies.
• Ensures appropriate maintenance of comprehensive documentation of compliance and risk management activities.

Qualifications/education required

• Educational Background: Degree educated, with a post graduate qualification in either Law, Accountancy, or a related field of Corporate Governance.
• Professional Experience: Minimum of five years post qualifying experience in a professional services environment with a keen interest or experience in Compliance.

Experience and aptitudes required

• Strong Knowledge of Regulatory Standards and Corporate Governance: Familiarity with regulatory standards appropriate to the firm as detailed; understanding of best practices in governance, internal controls and ethics.
• Risk Management: Ability to assess complex risks, evaluate data, and make informed, practical recommendations, including where necessary, adapting, and responding in crisis management conditions.
• Leadership and Communication Skills: Ability to clearly explain compliance policies, train staff, and be of valuable support to senior leadership. Confident to challenge where appropriate.
• Application: Excellent analytical and organisational skills, able to translate complex regulations into practical policies and training, referencing existing departments (IT and HR) and identifying necessary changes, with strong skills in addressing issues, conducting investigations, and harnessing change.
• Project Management: Proficiency in handling multiple compliance and risk projects across multiple departments within the firm.
• Integrity and Ethical Judgment: Unwavering commitment to ethics, integrity, and impartiality.

About Mercer & Hole

Mercer & Hole is an independent firm since being founded in 1905. Today, we are proud to say that we are a growing top 40 accountancy firm performing Audit, Corporate Tax, and advisory work. We are also a top 20 UK firm for both private client tax work and financial planning.

The firm is led by 27 partners, many of whom are top 4 trained, and we value teamwork with over 240 staff across four locations in the UK, with our flagship office in the heart of the City in Lombard Street.

We work with businesses and individuals and provide a quality, personalised service with high levels of expertise across all aspects of audit, accountancy, tax, and financial planning. We have the technical knowledge and excellence, but we also aim to give our clients practical options, and always make complex issues easy to understand. The secret to our success is a commitment to deliver only the best for our clients and to exceed their expectations from our initial contact and throughout our relationship.

We are recognised for being friendly and approachable, taking the time to get to know our clients as people so that we understand what is important to them, their business ventures, and their family commitments.

The firm has a varied, international client base and an international presence as we are founding members of The International Accounting Group and TAG Law which aligns over 16,000 professionals globally.

Making a difference

People and businesses are facing unprecedented change. Across all sectors, business owners, Boards and Executive Management Teams must continually re-evaluate their position and make tough decisions that will affect their future goals and those of their organisations.

We work with a range of clients from start-ups, SMEs and larger corporations, including listed business, across a wide scope of industry sectors to provide them with a range of specialised services. At Mercer & Hole, we are known for our exceptional level of client care. We believe taking time to get to know our clients gives us a greater understanding of their business goals to provide real value.

Our experienced team can provide expert help in the following areas:
• Audit and Accounting (note, audit services not provided to listed entities)
• Tax compliance and advisory
• Business and strategic advice
• VAT including partial exemption issues
• Virtual Finance, including bookkeeping, management accounting, financial modelling and payroll
• "World Class Finance" - review of financial processes and controls, including improvement recommendations and implantation guidance
• Regulatory returns
• Valuation services
• Merger and acquisition support and advice (including Financial Due Diligence)
• Private client services and exit strategy planning
• Raising finance

We really want to attract and retain individuals who share our Values:

Together

The firm with the family feel. Express gratitude. Smile. Be humble and confident. Have fun.

Resilient

Change is imminent, and business is imperfect. Be open minded & agile. Assume positive intent and exercise the power of positive thinking.

Understanding

Each individual matters and will be heard and respected. Honesty, integrity, empathy and kindness are fundamental.

Supportive

We support what is important to you and show kindness in our behaviour to each other. We encourage each other to realise our potential.

Thrive!

We strive to be the best, innovate and always do exceptional work. That's who we are and what our clients deserve.