JOB TITLE : Head of Group Compliance
REPORTING TO : Compliance Director
MAIN PURPOSE OF THE ROLE:
Compliance facilitates the management of Compliance. The Head of Group Compliance, in conjunction with their team, will be responsible for the establishment and maintenance of effective best practices which promote a commitment to compliance with Barbon Group standards and any other relevant regulatory requirements.
The jobholder will be part of and work with other members of the Compliance Senior Management Team and the Compliance Director to achieve business and regulatory objectives.
The primary focus of this role will be to lead the Group Compliance Function which is responsible for:
• establishing written guidance to staff on the appropriate implementation of the rules and standards through policies and procedures and other documents such as guides or training
• assessing the appropriateness of internal procedures and guidelines, promptly following up any identified deficiencies in the policies and procedures and, where necessary, formulating proposals for amendments;
• monitoring compliance with the policy by performing regular and comprehensive compliance risk assessment and testing, and reporting on a regular basis to senior management, and if necessary, the board or a committee of the board, on compliance matters;
• advising management on the applicable rules and standards, including keeping up-to-date with developments in all applicable rules and standards and advising management accordingly;
• exercising any specific statutory responsibilities (e.g. Data Controller);
• acting as a expert and principal contact point within Barbon for Business Compliance Officer’s (BCO)s queries from management and staff members;
The role is predominantly office based but can include travel to any Barbon Group office as required.
KEY TASKS AND ACCOUNTABILITES:
Impact on the Business
• To develop, initiate, maintain, and revise policies and procedures for the general operation of the Compliance Plan and its related activities.
• Manage day-to-day operation of the Group Compliance Function.
• To continually assess and reassess compliance risks within the business, taking into account changing economic, market and regulatory conditions and ensuring appropriate policies and procedures are in place.
• Advise all business units, central functions and management on compliance policy and procedures
• Monitor, and as necessary, coordinate compliance activities of all businesses within the Barbon Group to remain abreast of the status of all compliance activities and to identify trends.
• Provide reports on a regular basis, and as directed or requested, to keep the Compliance Director and Board informed of the operation and progress of compliance efforts
• Assist with the development of a compliant culture throughout the Barbon Group
Customers / Stakeholders
• Maintain an effective relationship with Senior Management and staff within Barbon Group businesses, assisting them to comply with the relevant regulations
• Institute and maintain an effective compliance communication plan for the Barbon Group, including promoting the understanding of new and existing compliance issues and related policies and procedures.
• Identify and evaluate emerging trends, formulate and maintain policy and procedures and recommend solutions to the Compliance Director aimed at mitigating compliance risks and the potential cost of exposure to the Company
• Oversee the development of an effective compliance training programme, including appropriate introductory training for new employees as well as ongoing training for all employees and managers.
Leadership & Teamwork
• Manage and develop direct reports and, where appropriate, prepare and deliver of facilitate training
Operational Effectiveness & Control
• Create and maintain a fully compliant environment within which Barbon Group operate
• Identify areas of weakness and/or risk and make / implement recommendations for change
• Report to senior management all material and significant incidents or potential incidents / compliance issues
• Demonstrate effective time and workload management
Major Challenges (The challenges inherent in the role that require a continual test of the role holder’s abilities, including the details of the extent of guidance and authority))
• Staying updated on the ever changing regulatory and market environment in order to identify, analyse, understand and prepare solutions for new regulatory risks
• Co ordination with other business and central support areas to ensure effective implementation of compliance policy and procedures
• Ensuring that effective systems exist for the communication of compliance
• Achieving full compliance with business and regulatory requirements whilst considering the need for business growth, good customer service and treating customers fairly
• The effective oversight and management of compliance/risk matters requires a good knowledge of the business (its detailed operations, the market in which it operates and the Barbon Group environment in which it exists), as well as a sound understanding of procedural requirements, internal control standards, external legal and regulatory requirements and the ability to use this knowledge to identify understand, assess and mitigate compliance risks facing the business.
• The regulatory environment is ever changing and, therefore the job requires a pro-active and innovative approach
• Assisting with the development of a strong and embedded compliance culture throughout the Barbon Group and escalating failures and areas for improvement to the Board immediately