Job Title:                    Head of Compliance (Local Regulatory Compliance Officer)- UK

Industry:                     Banking

Location:                 London, UK

Salary:                         Competitive Salary Package + Benefits

Role Purpose:

• Managing regulatory risk across the Bank (the “Branch”) specifically providing product advisory services and conducting a full compliance monitoring programme in accordance with UK regulatory requirements;
• Managing relationships with Local Authorities with reference to Regulatory Compliance matters;
• Provision of compliance advice and guidance in relation to (i) the Branch businesses; (ii) all aspects of the Branch operations; (iii) Global Markets products (primary and secondary), including Fixed Income, derivatives, futures, structured products and any other deals concluded by the Branch Global Markets team, and (iv) front office activities;
• Performance of the annual review, development and instigation of the comprehensive Branch Compliance Monitoring Programme, including surveillance, monitoring, training and testing etc.;
• Keeping abreast of UK regulatory changes and advising the front office (and support departments) appropriately and managing the related impact in the Branch policies and procedures in agreement with Head Office;
• Identifying and delivering appropriate training to the Branch employees on UK regulatory topics;
• Overseeing and managing of the Branch Regulatory Compliance team;
• Cooperating with different Head Office Compliance teams, according to the internal governance framework and delivering the provided information flows.

Responsibilities:

• Promptly alerting Group Compliance regarding any Branch specific needs to adapt the Group Compliance, Procedures and Processes providing gap analysis and interpretation of the specific regulatory requirement determining the need;
• Implementing regulatory change projects related to local regulatory requirements;
• Dealing with day-to-day compliance queries from the Branch as required;
• Development and maintenance of a general Branch Compliance Programme (consisting of, inter alia, thematic reviews and being aligned with the Compliance Monitoring Programme of the Branch) to be drafted and reviewed annually in the context of UK regulatory requirements and Head Office policies and procedures, for completeness, timeliness and appropriateness;
• Updating and maintenance of the Branch Compliance Advisory log of all the advisory provided to the Branch business and support areas by the Branch Compliance;
• Updating and maintenance of the Branch Compliance legal inventory of all the UK laws and regulations applicable to the Branch;
• Responsible for the execution of the Branch Compliance Monitoring Programme;
• Advising first line of defence areas on corporate policies and UK regulatory requirements, including conduct risk, market abuse and the regulation applicable to each of the product dealt by the Branch (such as, MiFID, EMIR, DFK, Volcker, etc);
• Actively monitor and survey compliance risks related to the business operation of the Branch;
• Conducting compliance risk assessment across all Branch business lines;
• Reviewing and updating, when needed, the Branch compliance policies and procedures (supporting the communication with Group peers for approval) to ensure they are up to date and compliant with the latest local UK laws, guidelines and regulations as well as internal Group policies and procedures;
• Oversight of the Senior Managers Regime (SMR) & Certification Regime in: (i) assisting SMFs in maintaining individual Statements of Responsibilities; (ii) ensuring maintenance and management of all SMF documentation; and (iii) acting as contact for FCA related queries;
• Responsible to produce reports for all Compliance activities to be issued to senior management of the Branch on a periodic basis as determined under the Compliance Monitoring Programme;
• Responsible to provide secretariat function for the Branch Compliance Committee, including committee planning, agenda distribution and minutes taking;
• Analysing information requests from Compliance Head Office regarding UK regulation and its suitability to be disclosed to first line of defence in the Branch in an appropriate way;
• Ensuring appropriate oversight and monitoring arrangements are in place for any Branch compliance related activities outsourced to third parties;
• Ensuring compliance testing and quality control/quality assurance activities are in place;
• Producing reports for the Local Regulatory Authorities;
• Managing ad hoc investigations and requests from Head Office in relation to general compliance, as necessary;
• Maintaining a good understanding of the FCA and PRA rules and regulations in the context of all aspects of the Branch operations including UK conduct rules and appropriate EU rules which may be applicable for the Branch and manage the related impact in Branch policies and procedures in agreement with Head Office.

Skills and experience:

• Between 10 and 15 years of experience working within Compliance areas in the Wholesale and Corporate business;
• Current holder of a Senior Manager Function 16, other Senior Manager Functions could be considered on a case-by-case basis;
• Proven knowledge of FCA handbook (COBS, SYSC) and UK and EU compliance frameworks, policies, procedures and processes (MiFID, MAR, SMCR, etc.);
• Deep understanding of the Investment Banking business;
• Strong managerial capacities and ability to work in team;
• Experience in delegating duties and tasks while maintaining full understanding of the development;
• Knowledge of the corporate business, as well as correspondent banking activity and trade finance products and services;
• Experience in the production of management information and reports;
• Sound presentation skills, and the confidence to influence colleagues at all levels;
• Strong analytical and problem-solving capabilities;
• Ability to work under pressure and to identify Compliance risks;
• Resilience when it comes to develop new activities;
• Microsoft Office capabilities, particularly in Word, Excel and Power Point.
• Studies and qualifications:
• University degree or higher in law, finance and/or business/economics;
• Qualification in banking, regulation, risk governance, Law or Compliance.

Languages:

• English fluent (both written and spoken);
• Fluency in Italian is highly appreciated.