Director of Compliance and Financial Crime

Pension Insurance Corporation ("PIC") provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting Companywide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

Our Company values are expected to be reflected in the delivery and performance of every role.

Role Purpose:

• To collaborate effectively with senior leadership to deliver the Risk and Compliance strategic plan.
• To be accountable for the prescribed regulatory responsibilities for the Risk and Compliance department.
• To actively achieve solutions for complex technical challenges by leading the development, enhancements and maintenance of the Compliance team within agreed risk and regulatory standards.
• Our Company values are expected to be reflected in the delivery and performance of every role.

Senior Management and Certification Regime ('SMCR') Function

Scope of Responsibilities: Certified [MRT / KFH]

• Produce regular concise, insightful reports for senior leadership review that demonstrates critical analysis and assessment of the Risk and Compliance departments performance against the business plan and regulatory landscape.
• Ensure the Compliance function's processes, systems and procedures are fit for purpose. Implement appropriate controls and measures to minimise or reduce the financial and reputational risk to the Company and its policyholders.
• Keep abreast of the relevant commercial, product, industry, regulatory and legal knowledge, and cascade to direct reports and teams, as appropriate.
• Identify, assesses, monitor, and mitigate Compliance risks to the Company in line with the applicable Company policy, and assume accountability for your role in mitigating those risks to the Company and its policyholders.
• Responsible for ensuring the culture and values of the function is aligned to the Company's Values of Resilience, Adaptability and Loyalty.

Specific accountabilities assigned to the role of Director/ Head of Compliance within the Risk and Compliance Function

• Lead and manage the Compliance and Financial Crime Team ensuring activities are appropriately resourced with the correct knowledge and skillset to deliver the relevant and agreed outcomes for the function. Elevate talent to develop and enhance both technical and non-technical skills required to deliver a strong and purposeful Compliance team.
• Compliance Monitoring: Propose, review, manage and conduct a high-quality risk-based compliance monitoring program covering all areas of the business and relevant 3rd party providers.
• Document and evidence the above activities. Where shortfalls are identified, agree, propose and track remedial actions to completion.
• Horizon Scanning: ensure the business is aware of new regulatory requirements and understand the impact.
• Assist the Chief Risk Officer on any compliance and financial crime matters and / or any other areas required.
• Reporting: Provide regular, concise, high-quality reports for Board Risk Committee, EXCO and Audit Committee and any ad hoc reports / information as required.
• Maintain the Company Breach Register and ensure the business is aware of the reporting requirements.
• Any ad hoc work as directed by the Chief Risk Officer, Audit Committee and / or Senior Management.
• Perform compliance and financial crime related due diligence on all material 3rd party suppliers.

Requirements

Knowledge

• Good technical knowledge of the Bulk Annuity Market
• Deep knowledge of FCA and PRA rules and regulation
• Good knowledge of AML and fraud regulations

Skills

• Exceptional interpersonal skills
• Strong communication skills
• Ability to persuade and influence both directly and indirectly
• Effective people leader specifically related to empathy and humility
• Expert business and report writing skills specifically related to producing detailed reports for FCA / PRA
• Ability to conceptualise and lead others in solving specific problems
• Strategic and innovative thinker
• Exceptional commercial judgement
• Entrepreneurial focus
• Good working knowledge of MS Access, MS PowerPoint, MS Word

Experience

• Minimum 10 years financial service compliance experience - including specific monitoring experience
• Experience developing and embedding regulatory change
• Experience of holding a regulated position and being accountable for the prescribed regulatory responsibilities for the role applied for desired but not essential

Desirable personal attributes aligned to what success looks like in the role:

• Intellectually curious with a willingness to learn through own research.
• Strong problem-solving skills utilising consultative questioning to challenge current norms and drive change within the business function.
• Effective communicator - structures insights into clear messages and effectively engages others within business function, as well as internal stakeholders, professional and regulatory bodies.
• Innovative thinker - positive attitude to change and a willingness to embrace new ideas and techniques to improve performance.

Benefits

In addition to a competitive base salary and the opportunity to participate in our annual, performance-related bonus plan, upon joining us here at Pension Insurance Corporation, you will get access to some great benefits, including private medical insurance, 28 days' annual leave (excluding bank holidays), a generous pension scheme and much more.