The role in a nutshell:
As our new Head of Compliance and Risk you will be responsible for ensuring that Nutmeg has an effective compliance and risk management approach with a robust strategy, monitoring, challenge and assurance.
Using strong strategic, relationship and technical skills, you will work closely with the Board, Executive team and staff at all levels to continue Nutmeg’s approach to meet the demands of a developing and dynamic business.
The Head of Compliance and Risk will drive the compliance and risk strategy, structure and processes and lead its execution. You will partner with the business to achieve the compliance goals, and will have a significant role in the running of the business, while maintaining the necessary independence to provide effective and insightful challenge.
As Nutmeg sits within the financial services, our Head of Compliance and Risk must be an Approved Person for Nutmeg and the key point of contact for dealing with the FCA.
What you’ll need to do:
- Ensure that an effective risk and compliance policy and control framework is in operation across the Nutmeg business, working with the Executive team and Board to ensure buy-in, engagement and implementation across the business
- Provide challenge and advice to the Board, the Executive team and staff on compliance and risk management matters including, but not confined to, financial promotions, product design and development, complaints, AML and financial crime, client money, treating customers fairly, conduct and operational risk
- Provide relevant compliance and risk reporting and management information, consistent with the Nutmeg’s governance to the Executive team and Compliance and Operational Risk Committee.
- Manage Nutmeg’s relationship with the FCA and other relevant regulators, acting as the key point of liaison with them
- Establish and maintain an effective second line compliance and risk monitoring programme with the inputs, the evaluations, reporting and alerts to ensure effectiveness and practical relevance
- Lead the process of establishing and maintaining Nutmeg’s Risk appetite, advising the Executive and Board on risk tolerance, developing an approach to establishing and maintaining this and reporting to the Board on Nutmeg’s performance against Risk Appetite
- Manage, develop and lead the Compliance team
- Design, monitor and oversee an effective anti-money laundering and financial crime framework, including policy maintenance, training, monitoring and reporting
- Oversee and document Nutmeg’s internal capital adequacy assessment process, providing an informed decision on the appropriate capital level
- Report to the executive team and Board on key risks, issues and actions taken, ensuring that concerns and recommendations are clearly and concisely articulated so that appropriate action can be taken as necessary
- Own and manage Nutmeg’s Compliance and Code of Ethics Manuals, ensuring that appropriate communication and engagement is in place to maintain awareness and use of these
- Select compliance training that key roles and all staff are required to undertake
- Work with the People & Talent team and line management to ensure that compliance training and CPD is completed within regulatory guidelines
- Monitor regulatory developments to ensure that change initiatives are addressed by stated deadlines
- Consult and advise management on business and corporate processes to promote compliance
- Ensure that all regulatory reporting and notifications (e.g. via Connect/GABRIEL) are made as required
- Ensure conflicts of interest are recorded and lodged as required
What we're looking for:
The successful candidate must be an experienced and accredited Compliance manager within an FCA regulated environment. Experience of working with senior internal stakeholders, the FCA and the ability to challenge robustly and take an objective view combined with strong practical knowledge of applying compliance and risk management is essential to this role.
We’re looking for someone with a strategic mindset and strong leadership skills. You will have had experience in balancing the collaboration required to work with a business to develop its compliance vision and strategy, with the ability to inspire confidence and challenge independently and thoughtfully. To be successful in this role you will need to be a strong team player, have the ability to overcome resistance and drive cross-functional change and relationships to get things done. We need a self–starter and results focused Head of Compliance and Risk who has the desire to drive continuous performance and make a difference.
As our Head of Compliance and Risk you will need to be able to operate strategically and at a practical working level including having experience of and skills in:
- Working in an FCA regulated environment with respect to compliance, risk management and anti-money laundering and financial crime and be an Credited Approved Person
- Holding a controlled function, or have the relevant experience and necessary qualifications to be approved by the FCA for a CF10 and CF11 position
- Strong knowledge of the FCA’s requirements, its Rules, Handbook and the thinking and intent of the FCA in judgment based issues
- The identification, management, monitoring and mitigation of risk, including the undertaking of credible risk assessments and the presentation of insights and conclusions arising
- Understanding of what is required to ensure all promotions and marketing are compliant
- Managing interactions with the FCA and other regulators at all levels, including senior level
- Knowledge of capital adequacy and ICAAP calculation procedures and requirements
- Building effective staff compliance and risk training and development
- Managing relationships and people, both directly in a small Risk and Compliance team, and indirectly across the business.
- Developing and implementing an effective approach to the establishment, maintenance and monitoring of Risk Appetite and risk tolerance
- Putting in place and maintaining robust policy and control frameworks
- Developing, maintaining and implementing an effective compliance and risk strategy
- Exercising judgment and managing ambiguity with judgment based and often unspoken FCA dynamics
- Credibility at Board, senior executive and working level
- Speaking out and providing necessary but insightful and constructive challenge at all levels of the business
- Providing challenging oversight of how the business is operating in a manner which meets the FCA’s regulatory requirements
- Wealth management and the oversight of client money and assets is desirable but not essential
- Degree qualified is desirable, but not essential
How to apply:
Applications Close: Sunday, 9th April 2017
How to Apply: Email your CV & Cover Letter to firstname.lastname@example.org
Applications that don’t have a CV will not be considered.