Professional Services Recruitment

Conduct Risk Regulatory Manager - 12 month FTC - Edinburgh

Up to £50,000 per annum plus benefits - Financial Services - Accountancy & Finance
Ref: 1846 Date Posted: Tuesday 21 Sep 2021
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Job Title: Regulatory Risk Manager – Monitoring

12 month fixed term contract

 

Summary of Department Focus:

 

Regulatory Risk  promotes a strong risk culture, focusing on achieving fair outcomes for customers, balancing the needs of the business with the need to mitigate regulatory risk.  As part of the wider Risk Function, the team forms the second line of defence, primarily responsible for regulatory and conduct risk and for developing and implementing Regulatory Risk Management and Financial Crime frameworks.  This includes setting and maintaining the Integrity Risk Universe and appetites; providing assurance on compliance with relevant regulatory rules and requirements; overseeing compliance with risk policies; and providing technical input and support in the delivery of the business’s strategic and business developments.

 

Summary of Role:

 

Assists the Regulatory Risk Senior Management team to identify, manage and control regulatory risks across the Group in the UK. The role will focus on a speciality in Regulatory Risk within the Monitoring and Assurance team and the role holder will contribute toward delivery of the Regulatory Risk Monitoring and Assurance plan. The role will cover integrity risk and will provide expert advice, oversight and challenge whilst collaborating with Senior Management. The role’s scope will cover all business areas.

 

 

Key Tasks:

 

  1. Leads monitoring and assurance activity that proactively reviews and challenges the adequacy and effectiveness of the relevant control environment to ensure the right regulatory and customer outcomes are agreed and delivered.
  2. Provides assurance and monitoring reports that summarise the effectiveness of control environments, highlights regulatory risks and recommends actions for improvement, highlighting key areas of concern to facilitate prompt escalation where necessary. Positively influence senior management to complete agreed actions within timescales so weaknesses are addressed.
  3. Oversee, in conjunction with risk colleagues, the resolution and management of risk events by the first line to reduce exposure to regulatory risk(s).
  4. Provide oversight of key outsourcers through attendance at key governance meetings and reviewing relevant risk MI with the aim of providing assurance and advising on potential risk(s) to the business. 

 

Skills:

 

  • Strong leadership skills and can work on own initiative with very little supervision.
  • Ability to plan and prioritise own work and other resources when required to deliver regulatory risk plan.
  • Excellent problem solving and research skills with ability to identify risks, analyse problems and assess complex regulations.
  • Ability to deal with and respond to variable challenge and to constructively challenge executive and senior leadership team when appropriate to ensure that the right regulatory and customer outcomes are met.
  • Ability to investigate and evaluate information and effectively present in a clear, understandable manner.
  • Excellent communication (written and verbal) and influencing skills
  • Ability to convert complex regulations into easily understood language for a wide audience.
  • Ability to positively collaborate with Senior Management.
  • Build and maintain strong relationships both within and out with the Risk function.
  • The role holder will act as a coach, mentor and role model to staff across the Risk function.

 

Knowledge:

 

  • In-depth knowledge of the regulatory environment (including the European context) and is likely to be seen as a technical expert in their field.
  • Will develop a good understanding of propositions (including products, services, platform and distribution) and how the regulations apply to them.
  • In-depth understanding of the governance arrangements within the company.
  • Good understanding of operational risk methodology, for example, risk identification, assessment and mitigation methodology, regulatory risk appetite and risk tolerances. 
  • Strong technical knowledge and experience of monitoring and assurance including sampling and problem solving techniques and/or experience of delivering external regulatory changes and supporting strategic change in a project environment.

 

Experience:

 

  • At least 2 years’ experience operating at a senior level within a financial services Regulatory Risk function.

 

Qualifications:

 

  • Degree qualified or equivalent relevant professional qualifications would be desirable.