Purpose of the role

The Compliance Monitoring Manager is responsible for the design, management of the delivery, oversight and reporting of a comprehensive and contemporary annual compliance monitoring programme across the Bspoke Group regulated entities. The role holder reports to the Head of Risk & Compliance and will engage with the wider Group Executive Stakeholders and the Board; providing assurance on whether the business is meeting its legal and regulatory objectives. Where gaps are identified, to agree and oversee the remedial actions to ensure timely completion by the business owner, escalating concerns and associated risks to ORRF and Risk Committee in a timely manner.

Key Duties and Responsibilities

Maintain and continue to develop own regulatory and business knowledge to effectively identify regulatory and legislative risks and control weaknesses.

Lead the Group Compliance Monitoring Team, including supervision and development of direct reports.

Take responsibility and accountability for the delivery of the Group compliance monitoring activities set out in the compliance monitoring plan.

Deliver and manage all Group monitoring reviews in accordance with the approach and standards documented in the compliance monitoring procedures.

Ensure the compliance monitoring procedures are kept up to date and relevant in line with Group’s risk and compliance framework and approved as necessary.

Undertake ad hoc and tactical reviews as may be directed by the LRCD, executive management or the Board.

Submit and present Compliance monitoring updates and information at appropriate Governance Committees, ensuring that accurate and timely reporting is maintained as required.

Analyse relevant MI to identify gaps in risk, compliance or conduct issues, undertaking root cause analysis where appropriate to highlight underlying trends and identify and track actions as appropriate.

Ensure the escalation of all issues and risks as appropriate and in particular regulatory risks that are out of appetite.

Work collaboratively with Risk & Compliance Colleagues to support the First Line operational areas in identifying, managing and escalating regulatory risks through appropriate line and senior management.

Provide support to Group colleagues in creating a culture of continuous process improvement

through: 

• the provision of robust management information
• following up on agreed remediation actions
• work alongside the Group Head of Risk & Compliance and Group Risk Manager in delivering the overall Group risk and compliance objectives
• producing comprehensive thematic final reports  and reporting the key findings through the appropriate Group governance committees
• consulting with compliance risk and audit colleagues throughout the compliance monitoring review process to ensure audits are risk based and targeted effectively
• developing effective and professional relationships with the wider Group senior management team, working effectively in liaison with them to reach agreement on the report findings and any actions required following the completion of reviews
• ensuring all issues and actions are recorded and overseeing the implementation/closure of actions securing and retaining appropriate evidence
• escalating all overdue actions in accordance with the Group Compliance Monitoring Policy encouraging positive and fair cultural behaviors across the Group by effectively challenging activities and behaviors that do not align with Group values

Skills and Knowledge

• Excellent knowledge of the FCA regulatory regime
• Five or more years’ experience in an auditing, QA and/or a compliance monitoring role
• Significant financial services experience, ideally gained within the insurance sector
• Skilled and confident communicator, both verbally and in writing
• Demonstrable ability to engage and influence senior managers
• Self-motivated and strongly results-focused
• Strong analytical skills
• Team player, business minded and commercially aware
• Adaptable and resilient
• Team management experience

Qualifications

Relevant degree or equivalent experience