Job title: Employee Compliance and Compliance Monitoring
Reports to: Compliance Manager
Purpose of role:
Rothesay always strives to do the right thing. We have high ethical values, and expect precision and excellence in everything we do.
We have set rigorous Compliance Standards that we use to measure our culture and conduct. The Compliance Standards support the Compliance Function to proactively identify, monitor and mitigate conduct risk.
The overarching purpose of the role is to ensure that Rothesay and its people adhere to our Compliance Standards, and that Compliance takes decisive action where required to maintain the conduct and culture we expect.
You will be responsible for:
- owning and operating Rothesay’s Employee Compliance (‘EC’) processes;
- ensuring robust Compliance monitoring;
- making decisive and pragmatic recommendations for action;
- reporting the outcomes to the CCO for escalation to relevant governance forums; and
- managing the process around breaches.
Employee compliance processes
- own and operate Rothesay’s EC processes, including but not limited to Personal Account Dealing, CBT Training, Gifts and Entertainment, charitable contributions and personal conflicts of Interest/Outside Activities
- support the development and maintenance of the Compliance Control Room, a new and critically important part of the Group Compliance Framework that will be designed and implemented throughout 2021/2022
- design and deliver effective and accessible training and communications to ensure people have a clear understanding of what they need to do to maintain compliance with their personal obligations, with reference to the Regulators’ Conduct Rules and our Compliance Standards
- recommend decisive but proportionate action to identify and act on instances of non-compliance, including escalation of potential Conduct Rules breaches
- provide ongoing reporting, MI and analysis on key current and emerging risks, themes and issues
We provide our stakeholders with evidence-based assessment of whether or not business procedures, processes and controls are designed well and operate effectively. We principally do this through surveillance, Compliance monitoring and business attestations. Individually and collectively these activities test business arrangements against the Compliance Standards and applicable regulatory requirements and expectations in those areas we identify as presenting the greatest risk.
In summary, you will be responsible for:
- delivering the execution of the baseline Compliance monitoring plan and a number of key attestations. These will include reviews around PA dealing, Gifts and Entertainment and adherence to record-keeping obligations, but you will be encouraged to consider other topics that may provide reasonable assurance on the activities of the business
- providing advice to the Deputy Chief Compliance Officer and Chief Compliance Officer on the development of a robust, risk-sensitive compliance monitoring approach
- tracking actions arising in monitoring through to completion
- preparing succinct reports for review and challenge by relevant governance forums.
The role-holder should play an active role in the Compliance Function and the activities it carries on to meet its operational objectives.
Specifically, we expect you to:
- Provide decisive, independent support to the business on current and prospective conduct risks, themes and issues impacting Rothesay
- Both through your defined responsibilities and more generally, driving a positive, conduct-focused compliance culture at all levels of the business
- Provide input into the Compliance Function’s analytical framework and annual planning process
- Play an active part in forward-looking activities such as horizon-scanning
- Provide the CCO with evidence-based analysis that gives appropriate assurance to Rothesay’s governance fora, up to and including the Board
- Ensure you remain competent for the work you do, and proactively manage your professional learning and development, maintaining at least 20 hours’ CPD in a calendar year.
Skills & Experience:
- Undergraduate degree with 2:1 or equivalent grade.
- Minimum of 3 years’ relevant experience in a similar compliance role – we are looking for practical experience and disruptive thinking that ‘cuts through’ in practice
- Ability to comfortably manage multiple work streams at the same time
- Demonstrable expertise with PRA and FCA requirements and expectations
- Strong personal commitment to the highest ethical standards and exceptional customer outcomes
- Experience working in a high-profile financial services environment, with senior-level professionals. This may have been gained within a regulated firm or in an advisory capacity
- Demonstrable expertise with C-suite and senior stakeholders
- Expertise consulting with and advising internal stakeholders around regulatory frameworks.
- Project delivery experience
- Demonstrable commitment to diversity, inclusion and making a real difference in the communities we live and work in
- Experience and understanding of the Insurance and Pensions industries, particularly with bulk annuities.
- Retail conduct experience, with particular focus on consumer outcomes and customer vulnerability
- Process improvement and enhancement
- Good understanding of GDPR, SM&CR and the practical application of the Conduct Rules
- International activities and regulations, especially the US and Asia-Pac
- Broad experience across multiple functions or divisions within a Financial Services company or international professional services advisory firm.
Our overarching Compliance competencies are integrity, enterprise and judgement.
- Technical Skills - Demonstrates strong technical skills required for the role, pays attention to detail, takes initiative to broaden his/her knowledge and demonstrates appropriate analytical skills
- Drive and Motivation – Be a self-starter; successfully handles multiple tasks, takes initiative to improve his/her own performance, works intensely towards extremely challenging goals and persists in the face of obstacles or setbacks
- Client and Business Focus - Effectively handles difficult requests, builds trusting, long-term relationships with clients and service providers, helps the client to identify/define needs and manages client/business expectations
- Teamwork – Demonstrate evidence of being a strong team player, collaborates with others within and across teams, encourages other team members to participate and contribute and acknowledges others' contributions
- Communication Skills - Communicates what is relevant and important in a clear and concise manner and shares information/new ideas with others
- Judgement and Problem solving - Thinks ahead, anticipates questions, plans for contingencies, finds alternative solutions and identifies clear objectives. Sees the big picture and effectively analyses complex issues
- Creativity/Innovation - Looks for new ways to improve current processes and develop creative solutions that are grounded in reality and have practical value
- Influencing Outcomes - Presents sound, persuasive rationale for ideas or opinions. Takes a position on issues and influences others' opinions and presents persuasive recommendations
Rothesay actively promotes diversity and inclusivity. We know that our success depends on our people and that by nurturing a culture that values difference, we create a stronger, more dynamic business. We welcome applications from all qualified candidates, regardless of race, colour, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability or age.
Disclaimer This position description is intended to describe the duties most frequently performed by an individual in this position. It is not intended to be a complete list of assigned duties, but to describe a position level. The role shall be performed within a professional office environment. Rothesay has health and safety polices that are available for all workers upon request. There are no specific health risks associated with the role.