Sovereign is a fast growing and dynamic business, undergoing a period of significant investment to secure a top quartile position in its chosen markets. To enable its growth strategy, a new exciting position of Risk and Compliance Officer has been created. Reporting directly to the Risk and Compliance Director, the roleholder will play a key part in working closely with the Business to ensure the Risk Management Framework and Compliance Control Environment is maintained and updated, and will work with operational teams to both improve operational systems and controls and provide a proactive regulatory support service. We have embraced hybrid working between home and office and will offer a competitive package to the right individual based on experience.
To support the smooth regulatory compliance of the company by managing all aspects of the Company’s internal systems and controls and FCA record keeping requirements, including horizon scanning, compliance monitoring, regulatory scanning, development of risk and regulatory frameworks and completing investigations and file reviews
Key Overarching Role Accountabilities
1. Administer the company Risk Management Framework and Control Environment and support the business in meeting the required standards
2. Working to develop, maintain and enhance education and practices across the business in partnership with key internal stakeholders to improve regulatory compliance
3. Providing effective support and assistance in the undertaking regular deep dive assurance reviews
4. Carry out duties in line with FCA, HMRC and TPR regulatory frameworks and responding to changing guidance as required
5. Produce compliance and regulatory reporting
6. Maintain accurate and relevant business records and centralised compliance registers
7. Proactively identify new responsibilities and looking for opportunities to streamline and draw additional value from the governance and compliance processes.
8. Complete file reviews and investigations and fulfil regulatory information requests, including regulatory complaints, DSARs, Ombudsman requests in a timely fashion and to a high standard
9. Support the business and Risk and Compliance Director with routine and ad-hoc activities as required
Principle duties and outputs expected for this role will include:
• Maintain the regulatory control framework and risk environment and ensure it is up to date
• Keep abreast of changes in applicable laws and regulations and provide guidance to the Company on proposed regulatory changes
• Complete regulatory horizon scanning and support the ongoing administration of the regulatory change model
• Complete specified deep dive thematic monitoring assurance reviews and monitoring checks to identify areas of non-compliance and escalate to the Compliance Director for resolution via the Executive Committee.
• Help the Operational teams develop, initiate, maintain, and revise existing policies and procedures to assure compliance with legal and regulatory obligations
• Provision of advice and assistance to the Company on regulatory compliance
• Assist with escalations for day-to-day operations in relation to anti-money laundering and terms of business compliance
• Regularly monitor procedures and practices to assess the adequacy and effectiveness of internal systems of control and measures implemented by the Company from a second line risk and compliance perspective
• Complete regulatory and statutory reporting and liaise with departments within the Company and third party service providers to ensure timely and accurate regulatory reporting
• Maintain compliance registers as required by statutory and regulatory requirements
• Review and evaluate relevant matters to ensure that compliance issues/concerns within the organisation are being appropriately evaluated, investigated and resolved;
• Collaborate and liaise with internal departments, regulators, authorities and external service providers to resolve legal and compliance issues
• Identify potential areas of compliance vulnerability and risk; develop/implement corrective action plans for resolution of problematic issues, and provides general guidance on how to avoid or deal with similar situations in the future
• Prepare reports on a regular basis, to the Executive and Risk and Compliance Director, on areas relating to risk and compliance
• Deal with regulated complaints to a high standard and within regulatory timeframes
• Deal with Ombudsmen to provide information to their complaints in a comprehensive and timely fashion
• Coordinate information requests, including DSARs, where required
• Assist in investigating suspicious behaviour, for example suspicious activity reported by staff members, transactions or introducers alerted via trade intelligence or information requests received from Regulators or Ombudsmen.
• Supporting the Compliance Director with regular and ad-hoc duties as requested
• Abiding with company policies, procedures and processes and working with the wider Sovereign team in creating a high-performance culture.
• Working in accordance with the Group and SPS Mission, Vision, Values and Goals.
This list is not exhaustive and the responsibilities will vary from time to time in accordance with business needs.