We're recruiting a Senior Compliance Monitoring Officer for our Manchester office.
Purpose of the role:
AJ Bell is a regulated firm and is required by the FCA to “monitor and, on a regular basis, to assess the adequacy and effectiveness of the measures and procedures put in place in accordance with SYSC 6.1.2 R, and the actions taken to address any deficiencies in the firm's compliance with its obligations
”. As specified in SYSC 6.1.3 R.
The Senior Compliance Monitoring Officer (SCMO) supports the Head of Compliance Monitoring (HoCM) to provide effective compliance oversight through development and delivery of a risk-based Compliance Monitoring Plan. This includes preparing and recommending the activities to be assessed with relevant assessment of internal and external risk factors. The main principle of the role for the SCMO is to ensure AJ Bell remains compliant with all FCA rules, guidance & principles, by undertaking monitoring work under the risk-based monitoring plan. This includes deep dive or quick reviews along with regular & routine monitoring to ensure the delivery of good consumer outcomes.
It also supports the Risk & Compliance function by ensuring all Compliance MI is up to date and providing relevant inputs to Compliance reports & includes maintaining essential records and documents as required by the FCA (for example, breaches register, gifts register, PA Dealing & Market Abuse records).
What does the job involve?
The key responsibilities of the role are as follows:
- Carry out in depth compliance monitoring and regular reviews in accordance with the agreed plan in an effective and rigorous manner and report results to the Head of Compliance Monitoring as appropriate.
- To write reports of findings using the compliance reporting template.
- Support the HoCM with the maintenance and delivery of the Compliance Monitoring Plan whilst contributing significantly with the criteria used to form the plan.
- To represent the compliance function in delivering feedback on monitoring reviews, unaided, and support the other Compliance Monitoring Officers with their delivery.
- Ensure any agreed action from reviews is effectively closed with use of the Action tracker.
- Ensuring that good consumer outcomes are delivered constantly and consistently across the business.
- To take the lead in the monitoring of staff accounts in conjunction with the AJ Bell PA Dealing policy.
- Providing ad hoc compliance guidance and support to relevant business areas.
- Maintain essential records and documents, as required by the FCA rules.
- To ensure that all relevant management information is provided in a timely manner and to compile and provide comment for any relevant governance committee.
- To undertake other compliance activities, such as rule analysis, production of ad hoc reports, assisting with design and delivery of training as required from time to time under the direction of the Risk & Compliance Management team.
- To coach other team members to develop and improve service and performance as well as input towards the implementation of the engagement strategy.
- Previous experience in a compliance function within an FCA regulated business, either in a Stockbroker, Investment Platform or Investment business preferable
- Compliance or quality assurance monitoring and testing experience.
- Working knowledge/awareness of:
- The UK regulatory regime and awareness of the wider EU regulatory framework.
- The current FCA Handbook, in particular COBS; SYSC; Financial Crime; CASS; and MAR. You would be expected to become the subject matter expert in at least one of the sections of the handbook.
- Compliance monitoring and testing methodologies.
- Understanding the delivery of a good customer outcome framework.
- The legislative framework for financial crime including JMLSG guidance on AML requirements and the FCA’s financial crime prevention requirements.
- Data Protection Legislation.
- Experience of Stockbroker compliance monitoring activity would be preferable. (i.e. Best Execution; Transaction Reporting & Market Abuse).
- Excellent written and verbal communication skills to communicate findings from monitoring work in a way that is clear and concise and tailored to the relevant audience.
- Able to build rapport through effective communication.
- Able to interact effectively with others and use influencing skills.
- Meticulous attention to detail in undertaking monitoring.
- Analytical skills; ability to analyse changes in regulatory guidance etc. and assess impact on different aspects of business, including operational processes and procedures, literature etc.
- Effective planning, organisation and time management skills, specifically:
- Clear and structured planning of all regular work and ad hoc duties to be completed.
- Prioritising work effectively.
- Recording and filing all relevant information and maintain proper audit trail.
- Commercially aware; able to demonstrate an awareness of the business as a whole and the impact of the team’s work on other areas of the business.
- IT skills; able to use MS Office including Word and Excel.
- Knowledge of internal databases and back office systems (Figaro or Composer).
- Able to motivate and engage with others.
AJ Bell is one of the fastest-growing investment platform businesses in the UK offering an award-winning range of solutions that caters for everyone, from professional financial advisers, to DIY investors with little to no experience. We have over 449,000 customers using our award-winning platform propositions to manage assets totalling more than £71.5 billion. Our customers trust us with their investments, and by continuously striving to make investing easier, we aim to help even more people take control of their financial futures.
Having listed on the Main Market of the London Stock Exchange in December 2018, AJ Bell is now a FTSE 250 company.
Headquartered in Manchester with offices in central London and Bristol, we now have over 1100 employees and have been named one of the Sunday Times ‘100 Best Companies to Work For’ for five consecutive years.
There are opportunities for growth and professional development for employees wanting to progress within their career including induction training and our study support scheme which is part of our benefits package.
There is an active programme of social events throughout the year, which are open to all employees.
In return we will provide all the training and support you need in order to develop within your role.
What we offer:
- Competitive starting salary
- Generous holiday allowance of 25 days, increasing up to 30 days with service, plus bank holidays
- Holiday buy/sell scheme
- Hybrid working policy
- Casual dress code
- Discretionary bi-annual bonus
- Contributory pension scheme
- Buy as you earn share scheme
- Free shares scheme
- Paid study support for qualifications
- Enhanced maternity/paternity scheme from day one
- Bike loan
- Season ticket loan portal
- Discounted PMI and Dental
- On-site gym and personal trainer led classes
- Paid volunteering opportunities
- Free social events and more
AJ Bell is committed to providing an environment of mutual respect where equal employment opportunities are available to all applicants and all employees are empowered to bring their whole self to work.
We do not discriminate on the basis of race, sex, gender identity, sexual orientation, age, pregnancy, religion, physical and mental disability, marital status and any other characteristics protected by the Equality Act 2010. All decisions to hire are based on qualifications, merit and business need.