Senior compliance and threat specialist / Institute for Apprenticeships and Technical Training

What is required

Threat and compliance framework

Deep understanding of the monetary providers authorized and regulatory framework, the function of the completely different regulators (if acceptable), their targets and first features, the inter-relationships between them. Can clearly articulate the implications of non-compliance for his or her organisation.

Business and firm understanding

Deep understanding of the construction of the Monetary Companies trade and specifically the function their sector and organisation performs; the aim of the perform through which they work; how their perform pertains to the broader enterprise. Deep understanding of the impression the exterior surroundings has on Monetary Companies and their function, along with related greatest follow. Understands the organisation’s ‘Values’, skilled requirements and the way these are evidenced via their function. Clearly understands the aim of the completely different areas of the organisation they should work with of their function and the way they help them.

Clients and merchandise

Sound understanding of the shopper segments that the organisation delivers to, and the method to delivering honest buyer outcomes throughout the enterprise – notably for his or her function. Broad understanding of the services and products offered to prospects by their organisation. Deep understanding of the services and products that they help, notably because it pertains to their function e.g. inherent dangers that should be managed

Programs and processes

Understands the techniques, instruments and processes used within the function, along with the requirements to be met, together with IT instruments.

Working information of related threat frameworks and methodologies in Monetary Companies e.g. threat urge for food, thresholds, key threat indicators. Deep understanding of the methodologies, instruments and methods used of their organisation for managing the particular space(s) of threat coated by their function. Examples of threat areas are: operational, conduct, credit score, market, liquidity, capital, folks

Deep understanding of authorized, Monetary Conduct Authority (FCA) and different guidelines and rules related to their function along with how these are utilized inside their organisation; typical dangers and controls; present greatest follow. This may increasingly embrace monetary crime, anti cash laundering, terrorist financing.

Deep understanding of authorized, FCA, Prudential Regulation Authority and different guidelines and rules related to their function along with how these are utilized inside their organisation; typical dangers and controls; present greatest follow. This may increasingly embrace know your buyer, coaching and competence, authorized individuals, related conduct of enterprise, knowledge safety.

Compliance and threat (for smaller organisations)

Sound understanding of the vary of threat and compliance necessities for his or her function e.g. operational threat, monetary crime, know your buyer, coaching and competence, authorized individuals, conduct threat, complaints, knowledge safety. This could embrace each the precise authorized and regulatory necessities eg FCA Handbook and the insurance policies and procedures utilized by the organisation to implement these necessities.

What is required

Technique and planning

Contributes to the event of technique and operational plans for his or her space. Manages and stories on progress of particular components of this of their space of accountability. Proactively plans and organises their work, clearly figuring out priorities, to fulfill commitments, KPIs, together with regulator deadlines.

Delivering providers

Gives help, steerage and problem the place essential to the enterprise of their space of experience. Carries out all required actions, utilizing agreed techniques and processes, to make sure that the related insurance policies of the organisation for his or her space of specialisation are met. Works with the enterprise to construct their experience and understanding of their tasks via e.g. teaching, coaching. Takes the initiative to fulfill difficult particular person and crew efficiency measures in step with firm coverage, Values, requirements and regulatory necessities. Delivers initiatives as required.

Evaluation and drawback fixing

Analyses and interprets a variety of complicated enterprise info, authorized and regulatory info. Produces a variety of outputs that will embrace suggestions, administration stories, draft steerage, insurance policies, procedures for inside or exterior use. This may increasingly contain complicated modelling utilizing acceptable instruments. Works on particular and sometimes complicated issues and points with the enterprise, finishing up evaluation, recommending options.

Speaking and influencing

Offers successfully with prospects and colleagues at each degree of the organisation, utilizing sound interpersonal abilities and speaking nicely via a variety of media utilizing language that’s significant to the recipient e.g. written stories, displays, telephone, head to head, electronic mail. Communicates complicated info clearly. Listens actively to know wants and adapts their fashion to the recipient. Engages proactively with prospects and colleagues, together with senior managers. Challenges in an acceptable manner when mandatory and influences managers on the specified plan of action to make sure compliance and threat necessities are met.

Teamwork

Builds and maintains robust optimistic working relationships with prospects, colleagues, suppliers and regulators as acceptable.  Constantly helps colleagues and collaborates to attain outcomes. Conscious of their function inside crew, how their crew suits throughout the enterprise and the way the crew’s selections impression on others. Takes a management function within the crew when acceptable.

Steady enchancment

Identifies alternatives to drive increased efficiency and enhance service delivered. Takes possession and leads growth of particular modifications via to implementation – this may occasionally embrace initiatives wider than their function.

Growing self and others

Retains updated with related authorized and regulatory modifications and alerts others to the implications the place mandatory. Seeks suggestions and acts on it to enhance their efficiency. Builds their very own functionality via possession of their very own growth, working with their supervisor. Acts as a task mannequin and helps others of their growth as acceptable.

What is required

Honesty and integrity

Truthful, honest and reliable of their actions. Exhibits integrity by doing the fitting factor.

Maintains acceptable confidentiality always. Seen function mannequin and coaches others the place acceptable.

Flexibility

Adapts positively to altering work priorities and patterns when new duties should be carried out or enterprise necessities change.

Resilience

Shows power and enthusiasm in the way in which they go about their function, dealing positively with setbacks once they happen. Stays optimistic below strain, taking others with them.