Compliance Officer, UK Depositary

Job Description


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


Key competencies

  1. Collaborates – working with the team and senior leadership to deliver the shared objectives of the business
  2. Courage – address difficult issues and hold the business, and the board, to account
  3. Decision Quality – effective, timely decisions to allow the business to keep moving forward
  4. Drives Results – deliver results in a dynamic environment
  5. Balances Stakeholders – anticipate and balance the needs of the business with the requirement of Group / Regional/ Cluster Risk & Compliance and other relevant third parties
  6. Persuades – use compelling arguments to develop, implement and maintain a clear compliance framework that the operations team understands and is committed to deliver

Key behaviours we expect to see

In addition to demonstrating our Group Values (Authentic, Bold, and Collaborative), the role holder will be expected to display the following:

  • Knowledge sharing
  • Attention to detail
  • Honesty and integrity
  • Leadership
  • Organisation
  • Proactivity
  • Relationship building
  • Resilience
  • Team working


  • 5+ years’ experience in a compliance type role within financial services, or a similar role (i.e. Internal Audit, Control assessments)
  • Post graduate diploma or equivalent in Risk & Compliance
  • Bachelor’s degree in accounting, finance, law or related field, or relevant professional industry qualifications.
  • Experience within the financial services industry, preferably with a knowledge of AIFMD or Asset Management including alternative investment funds.
  • Strong time management and organisational abilities.
  • Strong communication skills, both written and verbal.
  • Ability to work autonomously

Additional information

At IQ-EQ we want you to reach your full potential. We offer an inclusive and diverse environment to support your career aspirations. With a strong emphasis on continuous learning and a holistic approach to your professional and personal development. We also offer opportunities across our service lines and our international network of offices.

Company description

IQ-EQ is a leading Investor Services group which combines global expertise with an unwavering focus on client service delivery. We support fund managers, global companies, family offices and private clients operating worldwide.

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