Description of the Business Line or Department
The CST forms a key part of the Compliance, Anti-Money Laundering and Financial Crime Team (“CAFC”) as it delivers a number of critical compliance and financial crime activities from a central function to all KH jurisdictions and legal entities. The teams focus is divided into a number of specific areas, including:
- Conduct of business;
- Regulatory liaison including non-financial regulatory reporting;
- Compliance projects;
- Financial crime including AB&C and sanctions;
- Legal entity requirements; and
- Regulatory change.
These activities are across the Group KH Businesses, functions, and jurisdictions within the second line of defence to obtain reasonable assurance to ensure that the business is operating in line with relevant laws, regulations, codes and SG and SGKH Group Standards within the Regulatory Compliance space.
The UK CST activities within the Compliance function are to co-ordinate and advise the business in respect of the following UK regulatory matters (not exhaustive):
- The day to day management of the UK Compliance inbox, including queries from business*, financial promotions, conflicts of interest including PAD and OBIs, Regulatory reporting; Core team MI reporting including GPS; maintaining appropriate policies and procedures and ad hoc Compliance projects as well as ongoing initiatives such as the Compliance Attestation.
*Typically assigned to relevant Business Partners/or lead Core compliance officers
Summary of the key purposes of the role
Act as subject matter expert and assist the Head of Core Services and Group Head of Compliance in taking responsibility for providing an expert advisory service and act as lead or co-ordinator for Compliance in respect of:
- Maintenance and review of the Annual Compliance Plan activities, tracking all actions within the plan;
- Ad Hoc projects in relation to Compliance topics, such a procedure alignment, control re-write/reviews;
- Specific Compliance related IGAD Audit actions;
- Risk Assessments – COMPASS; and
- Fee Tariff and other Regulatory Returns.
Key areas of regulatory focus include:
- Managing Conflicts of interest including the annual Staff Attestation and Fitness and Competency assessment.
- Work with the other members of the CS team to ensure a full schedule of required activities (e.g. updating of relevant documentation, making regulatory returns and preparing required reports) is maintained and delivered throughout the year.
- Comply with all relevant legislation, rules, regulations and codes of conduct; and
- Safeguard the reputation of the Kleinwort Hambros Group
Summary of responsibilities
- Assume responsibility for the advice and guidance to the above business units on relevant regulatory obligations and requirements both proactively and in response to queries
- Act as lead Compliance officer for relevant policy review (both relevant BUs and Compliance)
- Assist Core Services team to ensure that the firm establishes and maintains appropriate, policies, procedures, systems and controls to meet its regulatory obligations and requirements.
- Assume responsibility for relevant regulatory change items and review and assess the impact of new national and international legislation, regulation, guidance and rules.
- To assist senior management to ensure that the firm establishes and maintains at all times effective systems of internal controls in order to manage and minimise the risk of losses to clients or to the business from errors or irregularities. Identify actual or potential weaknesses of internal controls, so that prompt remedial action may be taken by senior management.
- To lead where requested on project work to assess the firms’ regulatory exposure and provide advice to the business to ensure compliance.
- To assist by taking an active role in communications with regulators, auditors (internal & external) other group companies and external organisations where appropriate. To assume responsibility for the successful completion of audit recommendations and regulatory action and assist in their implementation. To oversee the delivery of regulatory reporting requirements.
- To assist in the delivery of education, awareness and training to staff.
- The employee must know and comply with the regulations, rules and procedures, internal and external applicable in the context of its function and follow the compulsory training.
- Perform all duties in accordance with the principles outlined in the SG 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.
To attend the Compliance Department meetings and other meetings and committees on behalf of or in the absence of the Head of UK Compliance.
Level of Autonomy and Authority
- Expected to advise the business and make technical decisions in accordance with the bank’s policies and procedures.
- The Senior Compliance Officer works in close cooperation with the offshore Compliance team/s.