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Head of Compliance

companyForesters Financial
locationBromley, UK
PublishedPublished: Published 5 days ago
Business Compliance
Permanent
The Vacancy

KEY RESPONSIBILITIES
  • Oversee efficient and effective operation of the Compliance Department, which comprises a regulatory change team, a compliance monitoring team and a complaints' handling team. Each team is led by a manager who is a direct report of the role holder.
  • Maintain and develop a robust compliance framework, ensuring continuous adherence to regulations whilst supporting sustainability, commerciality, and competitiveness. This includes owning the planning and execution of compliance monitoring.
  • Oversee the compliance monitoring plan and framework, ensuring that findings are fed back to the field force, customer service teams, complaints team and other relevant stakeholders. The role holder will also be responsible for monitoring that appropriate rectification actions are put in place and completed in a timely manner.
  • Lead the development of any new Compliance policies and procedures required, oversee the updating of existing policies and ensure effective implementation and embedding across all business areas, including preparation and delivery of the appropriate training.
  • Oversee the handling of customer complaints, ensuring effective root cause analysis is carried out and appropriate actions are taken to prevent recurrence. The Head of Compliance will also be responsible for preparation and delivery of reports to the Audit and Compliance Committee in this respect.
  • Prepare regular Compliance reports and MI for the Executive Team, the Leadership Team, the quarterly Audit and Compliance Committee, and the Independent Order of Foresters. Attend governance and Board meetings to present Compliance Reports as required.
  • Oversee the horizon scanning processes in place to identify, assess and monitor regulatory changes that may impact Foresters. Ensure summaries of upcoming regulatory change are prepared and circulated to key stakeholders within the agreed SLA.
  • Prepare and delivery regulatory compliance training, including an induction session to all new staff. Ensure that all staff in Foresters receive appropriate compliance training to appropriately mitigate regulatory risk.
  • Support the CRCO in all aspects of compliance, including responding to regulatory enquiries to ensure good regulatory relationships are maintained.
  • Provide compliance advice and support to the delivery of the strategy ensuring that any regulatory risks are maintained within appetite.
  • Liaise with the Field Force Leadership Team to ensure the key compliance elements are incorporated in the scorecards and remuneration of advisers
  • Grow the capability and knowledge of the Compliance Team through mentoring, coaching and performance management.
  • Support and oversight of the data protection and privacy policies and procedures.
  • Supervise reviews of financial promotions.
  • Handle incidents and ad hoc requests received by the Compliance team
APPLICABLE CONDUCT STANDARDS/RULES

This is an FCA certified role, and the candidate will need to meet the fit and proper requirements which are honesty, integrity and reputation, competence and capability, and financial soundness.

The role holder must meet the minimum standards of individual behaviour set out in the FCA's Conduct Rules, namely:
  • Must act with integrity.
  • Must act with due skill, care and diligence.
  • Must be open and co-operative with the FCA, the PRA and other regulators.
  • Must observe proper standards of market conduct.
  • Must act to deliver good outcomes for retail customers.
KNOWLEDGE, SKILLS & EXPERIENCE (Competencies)
  • University Degree or other relevant qualification.
  • Significant technical compliance experience at a regulated insurance or investment financial institution.
  • In-depth knowledge of FCA and PRA requirements, interpretation of regulation.
  • Strong understanding of relevant regulatory compliance (COBS, SYSC etc)
  • Good knowledge of GDPR
  • The ability to manage and operate a compliance programme with the requisite policies, procedures, and controls.
  • Experience of simplifying regulatory requirements into clear business processes and controls.
  • Experience of overseeing change programmes and being flexible, with the agility to support new business developments.
  • Experience of applying compliance to key strategic developments
  • In-depth knowledge of Consumer Duty.
  • Strong communication and interpersonal skills, with the ability to influence and gain commitment to achieve desired outcomes.
  • Ability to work well under pressure, multitask and meet tight deadlines.
  • Ability to produce high quality written content in the form of board papers
About us

Foresters Financial is not your typical financial services provider. Those who join our purpose-driven organisation enjoy a culture of collaboration, creativity, and mutual respect and are challenged to do their best to make a difference every day. We help everyday families achieve their financial goals and make a lasting difference in their lives and communities.

What we do

We help everyday families achieve their financial goals and make a lasting difference in their lives and communities. We will continue to do this by employing enthusiastic and talented Financial Advisers working across the country and equally talented people to be based at our Head Office in Bromley.

Our Benefits

Work/life balance

Competitive benefits

Flexible/Hybrid working

Pension plan

Bonus

Staff savings

Testimonials

Myra O'Neil

"I've been supported by Foresters in both my professional and career development for over 30 years, from Administrator to Manager. I feel all employees have a strong sense of belonging and take pride in providing excellent customer service."

Andrew Jones

"Foresters Financial is a special place to work because of the people and their passion to deliver our purpose. I love the fact that the customer is at the heart of everything we do, and I am proud of the charity work Foresters do in the communities that we serve."

Pattern N'Guessan

"I am surround by positive and mindful people; whilst regular social activities promote good dynamics amongst staff. There is also ample opportunity for professional development in the form of training as well as exciting projects."