Compliance Officer

at  Vibright

A brief Introduction…..
Vibright are excited to be partnering with an ambitious, Somerset based wealth management business. They are a trusted partner to thousands of clients across the UK and are now looking for an Compliance Officer to join their ambitious and growing organisation.
This is a newly created role, working under the Head of Wealth Management on their SMF16 and SMF17 roles and responsibilities to develop, implement, and oversee compliance policies and procedures to mitigate regulatory risks and ensure that the group’s operations adhere to all regulatory requirements. You will also work closely with the Technical Director and Operations Director to drive compliance standards.

WHAT WE NEED FROM YOU….A BIT ABOUT YOU….

• You will ideally hold your Level 4 Diploma in Financial Planning, with experience within a similar role, i.e experience in a Compliance role gained within the IFA/Wealth Management sector.
• Strong working knowledge of FCA regulations and compliance requirements within an IFA environment, with a past history of involvement in your prior firm’s launch of the Consumer Duty.
• You will enjoy and thrive working in a high performance and results driven environment. You will be a compliance guru who LOVES all thighs compliance.
• You will be confident at navigating stakeholders at all levels, working closely with those most senior within the business.
• You have exceptional communication skills, both written and verbal.
• You are an MS office whizz.
• You will have a curious mindset, keen to understand how processes can be improved to drive efficiency and mitigate risk.
• Demonstrate practical awareness and knowledge of retail financial products and current regulatory expectations.
• You are detail-oriented, highly organised, and capable of managing multiple tasks with a proactive approach. You demonstrate the highest standards of professionalism and integrity in everything you do.
• Attention to detail with an ability to analyse complex financial information and provide credible challenge to the Company’s directors, managers and financial advisers.
• Demonstrate practical awareness and knowledge of retail financial products and current regulatory expectations.
• You will able to access our clients Wellington site - ideally being office based 5 days per week.

Your responsibilities will be varied and will include risk assessments, policy and file reviews, and process improvements. You will also work with the group directors on organising and maintaining the Training and Competence Scheme and the groups PROD framework. Here is a more in-depth snapshot of what you will be responsible for:

• Regulatory Compliance : You will help to review and improve the groups policies, procedures, and controls, ensuring they adhere to all relevant FCA rules, regulations, and guidelines. You will look to identify any gaps or inconsistencies and provide recommendations to the HoWM to strengthen our compliance framework.
• Regulatory Reporting : Timely and accurate submission of mandatory reports is crucial to avoid penalties or sanctions. You will ensure we have a robust regulatory returns calendar, and will assist the Operations Director in utilising back office systems appropriately to be able to produce the Management Information and reports that the regulator requires.
• Oversight and Monitoring / Operational Integrity : Effective systems, controls and interpretation of MI are the key here and ensure a well run compliance program. You will contribute to the data gathering for our annual third party Governance Review and the feedback from this will help to assess the effectiveness of our monitoring processes and will suggest enhancements to identify potential breaches or issues proactively.
• Conflict of Interest Management : The role will monitor potential areas of conflict within the group and advise the SMF 16 and board on ways to mitigate these risks. The role will be expected to create and monitor realistic conflict of interest management practices and will assist with managing Gifts and Entertainment and conflicts of interest registers.
• Breach Management : Prompt identification, investigation, and remediation of compliance breaches – what could they be and how do we identify them.
• Training and Awareness : Schedule staff training to empower them with the necessary knowledge and understanding of compliance-related matters. The role will be involved in designing and delivering a tailored training program to foster a culture of compliance. You will monitor the client facing advisers CPD programme with the directors and organise annual certification.
• Regulatory Change Management : Third party relationships are key here to share good practice and the role will be expected to attend roadshows and webinars to inform the group on best practice and share ideas. The role will also work with third party compliance services to keep up with the constantly evolving regulatory landscape.
• Personal Regulatory Accountability : Under the Senior Managers & Certification Regime (SMCR), individual accountability is paramount. The role will build on our robust structure to demonstrate personal responsibility for the firm’s compliance and align our governance framework with the FCA’s requirements.
• Investments : The role will work with the HoWM on developing our investment programme and will join the HoWM and the Technical Director in our quarterly Investment and Product Committee meetings, helping to prepare the agenda, document the meeting and carry out work identified during the meeting.
• Collaboration : Work closely with cross-functional teams to promote a culture of compliance. You will collaborate with senior management and other departments to address compliance issues and implement solutions.
• Anti-Money Laundering : The role will monitor and develop the Know Your Client (KYC) process at group, and assist with requests for KYC on the group. The role will perform due diligence checks on new and existing counterparties to identify risks and ensure compliance with applicable laws and regulations. The role will assist with managing Gifts and Entertainment and conflicts of interest registers.