Essential Duties and Responsibilities
Specific (Prescribed Responsibilities):
- Hold SMF16 and SMF17 functions (subject to regulatory approval)
- Lead the Compliance Function in line with SMCR requirements
- Oversee policies and procedures to mitigate financial crime risk
- Act as Data Protection Officer (DPO)
General:
- Comply with FCA Conduct Rules, Principles for Businesses, and PRA Fundamental Rules
- Follow all regulatory guidelines, systems, and controls
- Ensure adherence to internal policies and procedures
Key Duties:
- Monitor regulatory changes and assess impact
- Provide compliance advice and guidance to staff
- Maintain and update compliance and conduct policies
- Prepare and update the Compliance Manual and contribute to recovery planning
- Oversee compliance monitoring and address control weaknesses with the First Line of Defence
- Conduct annual Fit & Proper assessments (SMCR)
- Support governance forums with reporting and insights
- Notify regulators of changes in controlled functions
AML & Financial Crime:
- Support KYC and customer due diligence processes
- Develop AML guidance and training
- Monitor high-risk accounts and PEPs
- Conduct AML risk assessments and oversee remediation
- Act as AML subject matter expert and liaise with authorities
- Report suspicious activity and regulatory breaches
- Prepare AML reports and annual MLRO reporting
- Monitor sanctions, transaction screening, and SAR submissions
Data Protection:
- Monitor and advise on data protection compliance and obligations
- Oversee and approve DPIAs
- Act as the contact point for data subjects and regulatory authorities
- Ensure data protection risks are identified and managed effectively