Compliance Officer, UK Depositary

Job Description

JOB DESCRIPTION: COMPLIANCE OFFICER, UK DEPOSITARY

Office:                        Belfast

Department:              UK Depositary                     

Reports to:                Stuart Neill, Head of Depositary, UK

Responsibilities (how we will measure success)

To be accountable for the second line of defence to ensure that the regulatory risk and compliance framework across IQ EQ Depositary Company (UK) Limited (“the DepCo”) is maintained, challenged, and continually enhanced. The role holder will be responsible for identifying gaps, weaknesses, and risks in the operation of the business through monitoring activity which will act as an early warning system. Following that, they will be expected to make recommendations to the Risk & Compliance Committee and / or Board on improvements to the policies and procedures.

Responsible for ensuring all regulatory obligations, to include but not limited to, CASS, COBS and SYSC, are documented and where appropriate, reporting obligations met.

Sit on the Board-delegated Risk & Compliance Committee for the DepCo, setting key areas of focus by voting on risk and compliance matters. The responsibilities of this Committee are set out in its Terms of Reference.

Appointed Deputy MLRO, with a dotted line to MLRO, having responsibility for the day to day execution of the business’ AML obligations, including appointment to the New Business Acceptance Committee and ongoing monitoring.

Support business activities by reviewing and approving client operational risk assessments at the point of onboarding and at subsequent review points, when required. Also contribute to other core areas of operations, by advising on key areas of risk.

As a senior compliance specialist, the role holder will be accountable for establishing and maintaining a robust ongoing training framework that focuses on continuous improvement and accountability. The programme will be underpinned by core regulation and informed by ongoing horizon scanning to ensure the programme calendar remains up to date and relevant.

Direct line management responsibility for a Compliance Analyst, including responsibility for day to day work allocation and performance management.

As a leader in the business the role holder will be responsible for setting ‘the tone from the top’, establishing and embedding a compliance culture, with a focus on the Conduct Rules and accountability.

On successful completion of the probationary period, it is anticipated the role holder will apply to the FCA to be approved in the Senior Manager Function of Compliance Officer (SMF16).

On a day to day basis the role holder will be expected to carry out the following:

• Provide SME input on technical matters; upskilling others where appropriate

• Development, maintenance, ownership and delivery of the governance and compliance frameworks and Compliance Monitoring Plan

• Directing the Compliance Analyst and performing tests on policies and procedures implemented in the first line of defence to identify gaps, effectiveness, and potential for improvement. The test plan should be risk based

• Partnering with the Depositary Director to develop and implement new policies and procedures

• Overseeing the training and competency regime including the overall learning and development plan

• Ensuring appropriate frameworks, policies, procedures and training are in place to deliver compliance with the requirements of the SM&CR, AIFMD and all other applicable regulations

• Producing reports on regulatory and compliance matters and MI, including topics identified from horizon scanning, as required by the Compliance Committee and/or Boards

• Provision of internal and client friendly versions of controls reports

• Ensuring alignment & compliance with Group and Regional Risk & Compliance policy requirement

• Setting a compliance focused culture within the DepCo

• Ensuring that the DepCo team is appropriately resourced to meet regulatory obligations

• Supporting the Depositary team to ensure implementation, embedding and adherence to all new and existing company policies and procedures