Description of the Business Line or Department
The Risk and Compliance Monitoring Team is a Second Line of Defence (LOD2) function responsible for assessing the adequacy and effectiveness of the arrangements that the business has put in place to facilitate compliance with their regulatory obligations and manage their operational risks.
Its activity is defined by the annual Compliance Monitoring Plan (CMP) and Control Plan which are based on the key risk themes identified during the Compliance Risk Assessment (CRA) process, and other risk indicators such as operational loss events and business unit risk and control assessments (RCSA). The plans include a combination of thematic reviews, validation testing, controls testing, and mandatory monitoring driven by specific regulatory requirements or internal undertakings.
Summary of the key purposes of the role
- Execute thematic reviews, validation testing, controls testing and mandatory monitoring in line with timescales set out in the Compliance Monitoring Plan and Control Plan
- Proactively identify key emerging compliance and operational risks across KH and engage effectively with business unit contacts and management.
- Manage and track identified issues to resolution.
- The service enables senior management to ensure that Kleinwort Hambros Group:
- Complies with all relevant legislation, rules, regulations and codes of conduct;
- Safeguard the reputation of the SG and Kleinwort Hambros Groups
Summary of responsibilities
- Carry out reviews in accordance with the agreed plans and associated methodology and procedure documents. This includes defining the scope of the review, issuing terms of reference, planning the review, defining the tests, carrying out the review, liaising with management to agree the action points for any issues identified and issuing the final report.
- Carry out validation testing of closed issues to ensure that action taken to resolve a previously identified issue continues to be in place and effective.
- Maintain accurate and complete records. This will require having good working papers, copies of evidence where required and detailed reports. All relevant data must be captured and stored accurately as set out in team procedures.
- Tracking of findings – track the completion of remedial action in relation to findings raised during reviews
- Act as a point of contact for the business for all Compliance Monitoring and Controls Assessment queries.
- Management and Board reporting – assist the Team Head in providing regular reporting to legal entity Boards of Directors and relevant executive committees (Group Risk & Compliance Committee, Group Audit Committee and Operational Committee) on the progress of work against the Compliance Monitoring Plan and status of agreed issues.
- Preform all duties in accordance with the principles outlined in the SGPBH Code of Conduct, as well as the policies and procedures relevant to your responsibilities, to ensure that you adhere to a culture that treats clients fairly and focuses on the long-term sustainability of client relationships.
Level of Autonomy and Authority
Expected to be able to work independently on reviews and liaise with appropriate management and other control functions (e.g., Internal Audit). This should include the production of accurate documentation that requires limited amendment.