Compliance Assurance officer
Overview of department
Compliance Assurance is represented in each location and is responsible for assessing the adequacy and effectiveness of the arrangements that each entity has put in place to facilitate compliance with their regulatory obligations and to confirm that remedial action has been taken where any deficiencies are identified in those arrangements.
Risk-based compliance assurance plans are in place across the business which determine the reviews performed. Reviews are a combination of cross-jurisdictional thematic inspections and specific regulatory requirements for individual business lines.
Main purpose of the role
- Assist in providing an expert assurance and monitoring service
- The service enables senior management to ensure that the private banking Group:
- Complies with all relevant legislation, rules, regulations and codes of conduct;
- Delivery of Compliance Assurance Plans - assist with compliance assurance reviews scheduled in the Audit Committee and Board-approved annual Compliance Assurance Plans for all Group business areas in accordance with agreed procedures for the planning, fieldwork and reporting of each review
- Maintain accurate and complete records. This will require having good working papers, copies of evidence where required and detailed reports. All relevant data must be captured and stored accurately as set out in team procedures
- Tracking of Compliance Assurance findings - track the completion of remedial action in relation to significant compliance assurance findings
- Act as a point of contact for the business for all Compliance Assurance queries
- Management and Board reporting - assist Head of Group Assurance and Monitoring in providing regular reporting to legal entity Boards of Directors and relevant executive committees (Group Risk & Compliance Committee, Group Audit Committee and Operational Committee) on the progress of work against the Compliance Plan and status of agreed issues.
- Provide the compliance assurance team with administrative support.
- Perform all duties in accordance with the principles outlined in the firms principles for Code of Conduct, as well as the policies and procedures relevant to your responsibilities, to ensure that you adhere to a culture that treats clients fairly and focuses on the long term sustainability of client relationships