Jobs in United Kingdom
Because of the nature of the work, compliance officers traditionally come from a legal or finance background, with associated degrees. The sector is getting increasingly competitive, as being a compliance officer is seen as an attractive career, but individuals in compliance can still hail from diverse backgrounds as regulatory departments are more and more seeking complimentary technology and data skills.
Being a compliance officer can be a demanding job and it can be tough to keep on top of regulatory or legal changes in the financial services sector. The ability to stay on top of things and to manage people well are hallmarks of a good compliance officer. They need to be there for the front office staff, but also for the C-Suite, especially when operating as a Chief Compliance Officer, General Counsel or Chief Operating Officer.
Main Key Duties
While a Compliance Officer’s key duties might change from one type of firm to another, its core responsibilities will usually include, but not be limited to, the following:
Fostering an ethical culture at the firm
Avoiding fines and other penalties from the regulating body (FCA in the UK, SEC in the US)
Creating, monitoring and reporting on internal policies and processes: IT, Strategy, OH&S (Occupational, Health & Safety), KYC (Know Your Customer), PEP (Politically Exposed Person) and Sanctions
Legal research and anticipating future changes
Leveraging future changes in regulation
Reviewing marketing material and disclaimers
Training sessions to staff
Answering “can we do X?” questions from the C-Suite and front office
Conducting internal audits
Assisting with disciplinary proceedings
Reporting to the regulator
Making sure that advice considers business objectives
Prepare and file regulatory reports with the FCA
Main Required Skills
Broader Business Acumen (Product & Technology knowledge)
Interpersonal skills and communication
Attention to detail
Niche candidates and subject matter experts
The United Kingdom is the amalgam of Great Britain (which comprises England, Wales and Scotland) and the northern portion of Ireland. Its capital, London, is known as Europe's financial hub, and one of the world's most cosmopolitan cities. The United Kingdom is also known for other major cities, like Birmingham, Liverpool, Manchester, Belfast, Edinburgh, Glasgow and Cardiff.
The UK has made significant contributions to the world, most of them being cultural. Literature, theatre, musicals, film, television, music - many big names in these fields are from the United Kingdom.
Financial Services Sector in the UK
The United Kingdom - and more specifically, its capital London - has always been considered a world financial hub. Its financial services sector is quite massive: in 2018, it contributed £132 billion to the overall UK economy. It is known to be London's largest sector, with 1.1. million jobs in 2018. The city is also known for its huge amount of foreign banks: in the beginning of the 20th century, London had more foreign banks that any other city in the world.
Traveling and getting around the UK is easy for anyone, thanks to its extensive and efficient public transport system, which allows you to go anywhere in the blink of an eye. Because the country is relatively small, journey times are always reasonable: for example, getting from London to Edinburgh is a 4-hour journey if you decide to take the train.
In major cities like London or Manchester, you will also find an extensive public transport system, which includes bus, tube, train, boats, and other alternatives. Getting from one point to another is extremely easy, especially if you have a traveling application like Citymapper or Google Maps on your phone to help you find the fastest - or cheapest! - journey.
1 day ago
Ethics and Compliance Manager
Our client, and independent organisation facing the education sector and headquartered in Cheltenham, is looking for an Ethics and Compl...
26 days ago
Interim Head of Compliance
City of London
Our client, an insurance advisory firm, is recruiting for a Head of Compliance (SMF16/17). The candidate will be responsible for overall ...