Job Description
Reporting to the Chief Risk Officer, the purpose of OM Group Compliance is to establish and maintain mechanisms and systems of internal control to assist the OM Board of Directors and Managing Executives in meeting legal, regulatory and supervisory obligations and to promote and sustain a sound compliance culture. This includes ensuring legal and regulatory compliance implications are integrated into material strategic, financial and operational decisions. It is the responsibility of the OM Group Compliance Manager to assign clear ownership for the oversight of different categories of regulatory compliance risks facing the OM Group.
KEY TASKS AND RESPONSIBILITIES
Specific OM Group Compliance and subsidiary Compliance Function responsibilities are to:
Establish and maintain an effective regulatory compliance framework that includes a regulatory compliance strategy and appetite.
Ensure an effective regulatory compliance management system is in place for identifying, assessing, monitoring, managing and reporting on material compliance-related risks to the business.
Ensure the regulatory compliance management system addresses compliance-related risks on an enterprise-wide and individual operating entity basis and is embedded across the OM Group, particularly in all the regulated subsidiaries and the material operations.
Implement and maintain compliance risk indicators and performance measures for monitoring the levels of compliance risk being incurred by the business in relation to the defined appetite limits.
Implement and maintain adequate compliance governance structures including written policies, procedures, processes, systems and methodologies.
Oversee compliance control adequacy and effectiveness, mitigating management actions and exposure versus appetite limits and identify operating model deficiencies and capability gaps.
Meet regulatory obligations applicable to the function and be aware of key issues and concerns raised by regulators, while coordinating regulatory interaction where necessary. Oversee the timely submission of all regulatory applications and returns by the business.
Advise the relevant Board and Managing Executives on compliance culture, the monitoring and measuring thereof and contribute to the development and maintenance of the desired culture, including embedding principles of 1st Line risk ownership and 2nd Line independence.
Advise and challenge the relevant Board and Managing Executives from a compliance perspective on strategic decision making and business planning objectives to ensure they fully understand the implications of decisions being taken and possible mitigating actions to limit compliance exposures.
Develop and implement an annual functional operational plan and advise the business on the design and implementation of compliance controls and related mitigation processes, projects and change programmes. The provision of such advice may not compromise the principles of 1st Line compliance ownership and 2nd Line independence.
Ensure employees undergo training on regulatory compliance obligations and the OM Code of Ethics and have access to confidential mechanisms to report compliance and ethical breaches.
Report to the relevant Board and Managing Executives on:
The compliance risks to the business and on material compliance issues, including the outcome of regulatory visits, control breaks, breaches and mitigating management actions.
The extent to which the business is ready to comply with new or emerging laws and regulations.
The level of progress with the delivery of the annual functional operational plan and the adequacy of resources for the Compliance Function.
SKILLS AND COMPETENCIES
Interpersonal Skills
Ability to have a positive impact on the people around you
Is proactive and can anticipate the needs of those the role supports
Strong communication skills
Confident and assertive, able to garner the respect of others and influence change at the Executive level and throughout the firm
Excellent communication skills, both written and verbal and an ability to interact with all levels of management and staff throughout the organization
Self-Leadership Skills
Ability to structure responsibilities, tasks, and project management to eliminate wasted time and efforts
Ability to manage multiple projects and competing priorities without missing deadlines
Maintains a high level of attention to detail and is highly organized
Can adapt to changing priorities and conditions throughout the day or week
Ability to respond calmly and maintain performance standards in a busy office setting
Ability to maintain high service standards and problem-solve effectively when faced with new challenges
Energetic and positive attitude with a willingness to learn
Self-motivated with a commitment to excellence and high-quality standards
Leadership of Others
Effective teamwork planning
Effective coaching and training of the team
Rigorous team performance management
KNOWLEDGE AND EXPERIENCE
7+ years of hands-on regulatory compliance experience in the financial services industry with at least 3 years of experience being at management level
Experience working in a large financial services group would be an added advantage
Experience in designing, leading and implementing robust AML and Data Protection programs is essential
QUALIFICATIONS
University degree is required
Professional qualifications and/or certifications in AML and Data Privacy are required.
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