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Legal Compliance Director

  • Location

    London

  • Discipline:

    Compliance

  • Job type:

    Permanent

  • Salary:

    £75,000 - £85,000

  • Consultant:

    James Flood

  • Email:

    jflood@merje.com

  • Job ref:

    JF/15017

  • Published:

    2 months ago

The Legal Compliance Director will be responsible for strengthening, extending and sustaining a successful compliance program for the Real Time Payments business, ensuring the company meets its obligations under Part 5 of the Banking Act 2009.

The role will provide guidance and direction to first line business units in order to identify and implement best practices through regular communications, training and monitoring activities.

As part of the Compliance Department, the successful candidate will work cross-functionally with Legal, Regulatory Affairs, Risk, Human Resources, Finance, Public Policy, Privacy and Internal Audit.

The post holder is accountable to the Vice President, Legal Team.

Role responsibilities

  • Develop, implement and extend compliance risk assessments, policies and procedures ensuring they are aligned with relevant legislation and industry guidance, including Bank of England (“BoE”) expectations under Part 5 of the Banking Act
  • Develop, implement and maintain a monitoring plan across relevant areas of the business to ensure oversight of and adherence to compliance policies, including BoE requirements
  • Production of reporting summarising findings of compliance monitoring and provision of feedback and recommendations to relevant business areas
  • Work with relevant business areas on implementation of recommendations and track resolution of any issues to completion
  • Escalate issues including non-compliance or non-completion of actions as appropriate
  • Production of management information for internal stakeholders, including senior management and Risk Committee
  • Collation of information for annual Part 5 self-assessment report
  • Manage external validations of Part 5 control framework and track completion of any findings arising
  • Maintain accurate and complete records of relevant information, including reporting to the BoE and records relating to changes in relevant processes
  • Assess the impact of changes to relevant regulations, industry guidance or BoE requirements on existing policies and procedures; communicate required changes to relevant business areas and ensure any necessary changes are implemented as required
  • The role holder will be expected to stay up to date on applicable compliance regulations and best practice (including where relevant by undertaking relevant industry training)

Essential skills

  • Proven compliance experience in the financial services sector, including experience managing operational compliance programs
  • In depth understanding of the role of regulation and supervision in the payments sector and the ability to translate regulatory and compliance requirements into controls and product designs
  • Proven experience in a compliance / assurance role in particular demonstrable experience of implementing compliance processes and controls
  • Proven experience of working in the payments industry with the ability to translate regulatory and compliance requirements into controls and product designs
  • Educated to degree level