Compliance Manager – Job Description & Key Tasks
Scope & Application
Job description for: Compliance Manager / CF11
Reporting to: Managing Director
Issue Date: April 2017
Relevant Skills, Experience and Qualifications
- Strong interpersonal skills and the ability to interact with clients and colleagues in a professional and courteous manner at all times.
- Excellent written and verbal communication skills.
- Ability to work as part of a team as well as on your own initiative.
- Ability to critically evaluate information, probe and challenge facts.
- Ability to recognise potential problems and proactively look for solutions.
- A flexible and adaptable attitude towards work.
- Excellent time management.
- Ability to work to set deadlines.
- Ability to work accurately and in accordance with procedures.
- Intermediate level knowledge of Microsoft Excel.
- Basic level knowledge of Microsoft Word and Outlook
- Previous experience as a Compliance Manager within an IFA firm
- CII Diploma in Financial Planning or equivalent
- CII AF3 exam or recent equivalent (not CII G60)CII R08 exam or equivalent
- Working knowledge of Swift software
- Previous experience as a financial adviser
- Previous experience as a T&C supervisor
- Previous experience as a MLRO / CF11
- Knowledge of undertaking and negotiating a PI renewal
- Compliance or supervision qualification
- To manage the firm’s relationship with the regulator
- Complete quarterly GABRIEL returns to FCA
- Complete six-monthly RMAR returns to FCA
- Ensure regulatory fees are paid promptly via FCA online invoicing
- Provide figures to FCA on which the fees are based after liaison with accounts
- Register and de-register advisers with FCA and ensure adviser recruitment records are followed via FCA Connect system
- Apply for Variation/Cancellation of Permissions as required by the Firm
- Maintain records required by the FCA
- Deal with any correspondence and requests from the FCA with reference to the CEO where necessary
- Prepare for visits/reviews with the FCA with reference to the CEOPrepare and participate in the Annual Compliance Audit
- To ensure compliance with the legal & regulatory requirements by the firm
- Undertake file check reviews to assess completeness and suitability of advice
- Maintain file check register and data capture spreadsheets for the Board MI
- Liaise with external Compliance Consultants on regulatory updates & recommend process changes to CEO as necessary
- Maintain Complaints File and acknowledge client complaints within FCA guidelines
- Deal with complaints against advisers and the firm by thoroughly investigating the same and providing considered responses based on the evidence obtained and after liaising with PI Underwriters
- Maintain Rule Breach register
- Maintain returned cheques file
- Establish Compliance procedures and review on regular basis
- Review annually the Compliance and T&C file and any client facing documents and the Web site in association with the Marketing Manager, T&C Officer and CEO as necessary
- Remain up to date with the requirements of the FCA and recommend the implementation of new regulations as required
- Produce compliance reports and update MI in association with the Operations Manager for the Board meetings as required
- Approve all advertisements/mailshots issued and keep a record
- Monitor Appointed Representatives
- Answer compliance queries raised by advisers and staff
- Provide references for former advisers
- To act as Supervisor for the Firm
- Processing “Fit & Proper” checks for all control function personnel in the firm on an annual basis, and Staff Declarations and Share dealing data for all staff including any AR firm and staff
- Assessment meetings with all advisers under direct T&C supervision and other supervisory meetings when required
- Conduct client observation meetings/role plays as required for existing advisers and assist the Operations Manager and T&C Officer with the induction of new advisers and training and development of Helm ‘Academy’ employees
- Devising training and development plans in line with training needs
- File checks in line with the T&C Scheme requirements
- Monitoring Appointed Representatives
- Managing the Compliance support function
- To act as Money Laundering Reporting Officer for the Firm
- Ensure the firm remains compliant with the requirements of the money laundering regulations
- Establish Anti-Money Laundering procedures and review on regular basis
- Provide annual report to the Board
- Ensure advisers and staff remain properly trained in relation to money laundering regulations
- Undertake personal training via internal or external courses to maintain up to date knowledge of Money Laundering Regulations and Joint Money Laundering Steering Group guidance
- To act as a member of the Management Committee
- Provide a first line of defence in ensuring the Company has effective Compliance controls and policies in place to deal with its day to day business.
- Ensure that controls and policies are appropriate and clearly understood by those needing to follow them as part of their role.
- Promotes the Corporate culture of TCF and Compliance with the regulations
- Other Responsibilities
- Maintenance of all records (electronic and paper) in line with Company procedures.
Continuous Professional Development
- To maintain CPD, develop skills and keep up to date with all relevant legislative, regulatory and technical changes as required for the role
- To study for professional qualifications and sit examinations towards achieving relevant CII qualifications.
Staff Management Responsibilities
Direct reporting: Compliance Support
Indirect reporting: Appointed Rep Advisers
Self Employed Advisers
Authorities & Limitations
Financial: Not authorised to make binding contracts on behalf of the Company
Compliance: Not authorised to give FCA regulated advice
If you're looking for a challenging work environment, opportunities to continually develop your skills and be part of an organisation that is dedicated to being an outstanding citizen and community leader, send us your CV with a covering letter to Debbie Harcus at email@example.com.
About Helm Godfrey
At Helm Godfrey, we provide specialist, holistic, independent advice on wealth management, employee benefits and financial planning for businesses and individuals.
We are passionate about the service we provide and are very proud of the long-term relationships we build with our clients. Taking pride in our independence, we are not tied to any one provider, which allows us to continually assess the market and ensure our clients receive the most competitive terms.
Our wealth managers provide financial advice for high net worth individuals. We believe next to our family and friends, one of the key relationships are with those who advise us on financial affairs. We are highly trained and qualified, independent of all financial product providers and have access to the latest technology.
Working in partnership with HR teams across all sectors and company sizes, from multi-national corporations to small businesses, we design and implement bespoke employee benefits programmes. Our integrated services provide clients with holistic services that benefit all levels of an organisation.
Helm Godfrey is based in the heart of the City of London and we also have offices in other parts of the country. Helm Godfrey has grown steadily and is now a top 100 UK IFA.
Helm Godfrey is authorised and regulated by the Financial Conduct Authority.