Description of the Business Line or Department
Mission Statement of Compliance (CPLE):
“Build a Compliance Division recognised as a trusted, efficient and independent partner enabling a sustainable business development for the Group”.
In order to achieve its mission statement, Compliance activities are supported by 10 Guiding Principles, as follows:
Build a global Compliance team operating along clear, simple and shared rules in a spirit based on openness, mutual trust and respect
Build a global Compliance Division committed to translate regulations into appropriate internal rules so that business is accountable for their implementation. Actively promote compliance risk awareness across the bank
Build a global Compliance Division implementing an effective compliance program based on a comprehensive risk assessment and robust controls and testing framework
Build a global Compliance Division making responsive and well-informed decisions / statements in a consistent, timely and documented way
Build a global Compliance Division operating close to the BUs/SUs enabling sustainable business, with its central teams focusing on strong specific expertise and transversal supervision
Build a global Compliance Division providing Management and Board with meaningful, transparent and regular reporting and advice on Compliance risks
Build a global Compliance Division fostering trustworthy relationships with regulatory bodies based on sound, transparent and professional dialogue
Build a global Compliance Division leveraging on innovation, actively looking to benefit from new technologies and data analytics and promoting experimentation
Build a global Compliance Division composed of well trained professionals, up to date on their area of expertise, and whenever possible certified by external bodies
Build a global Compliance Division attractive to highly motivated talents with diverse backgrounds and adding strong value to their career path
Summary of the key purposes of the role
The main responsibilities of the Regulation and Policy (RAP) team are to:
Provide relevant regulatory development analysis to Wholesale Banking Compliance and its stakeholders, and coordinate the subsequent changes when required; and
Manage and maintain the suite of Compliance policies covering UK and Global Wholesale Banking perimeters.
The team functional remit is Wholesale Banking globally. The team is based in London with a strong coordination model with equivalent teams in the regions (AMER, ASIA, EMEA excl. FR-UK).
The role sits within the remit of the broader team, with the specific focus areas as set out below under ‘Summary of Responsibilities’.
Summary of Responsibilities
The main tasks relating to the role comprise supporting the RAP team in their delivery of the following activities:
UK and Global Wholesale Banking Compliance Policy Management and Maintenance
Delivery of an Annual Wholesale Banking Compliance Policy Roadmap, that reflects policy creations or reviews earmarked for publication over the coming year, due to various triggers such as regulatory developments, audit recommendations, cyclical reviews or Compliance projects.
Developing quarterly reports on Wholesale Banking Compliance policy delivery relative to the annual Roadmap and attending the Wholesale Banking Compliance ExCo on a quarterly basis to defend these.
Contributing to the creation or review of UK Compliance policies and project managing the creation or review of global Wholesale Banking policies, in conjunction with local subject matter experts.
Maintaining a global repository of Wholesale Banking Compliance policies, covering the UK, APAC, EMEA and the Americas, working closely with Compliance colleagues to ensure this remains complete and accurate.
Working closely with Group Compliance on policy maintenance, regulatory rules inventory or regulatory watch initiatives, including strategies for the adoption of increased automation.
Regulatory Watch, Regulatory Change Management and Impact Assessments
Regulatory horizon scanning for developments of relevance to Wholesale Banking, utilising a range of sources such as regulator publications, Thomson Reuters Regulatory Intelligence, Law firm publications, as well as general market watch activities.
Collaborating with global Compliance teams in APAC, EMEA and the Americas, to maintain visibility of regulatory developments and implementations in these regions, particularly those likely to have cross-border impacts.
Analysing the impacts of regulatory change on business and operational processes, policies and control frameworks, in close collaboration with Group Compliance, subject matter experts and business representatives.
Issuing a weekly Wholesale Banking Compliance newsletter that is widely referenced across the Bank’s business units, control functions and service units, as a vital source of information on policy releases, regulatory intelligence and impactful regulatory developments.
Contributing to UK regulatory projects, ensuring there is centralised coordination of change effort as necessary, and maintaining oversight of deliverables and action owners.