Compliance Manager (Horizon Scanning)
Manchester / Remote
Band C3
It’s The Co-operative Bank’s ambition to lead and pioneer the industry as the number one ethical bank. Our distinctive co-operative values and ethics have underpinned how we run our business for 150 years, providing customers and colleagues with a real ethical alternative. In our 150th anniversary year, we remain committed to our co-operative heritage and values in all that we do. We recently refreshed our unique customer-led Ethical Policy, which outlines what we will (and won’t) do to support the planet, people and community, and for the second year running we are the UK’s best Environmental, Social and Governance (ESG) rated high street Bank by leading ESG ratings agency Sustainalytics.
Role Purpose
Responsible for the provision of Upstream Regulatory Horizon Scanning pan-Bank for the in-scope Regulators (refer to the Regulatory Risk Policy for Regulatory Scope Limitations & Exclusions).
Responsible for the reporting of regulatory change delivery.
Knowledge, skills and experience required:
Broad knowledge of regulatory requirements applicable to the financial sector;
In depth understanding of the UK regulatory environment in the UK financial services sector;
Good knowledge of UK financial services industry, competitor activity, market developments and emerging market trends;
Detailed understanding of internal and external Regulatory Risk developments and practices and it’s applicability to Retail Banking and its customers;
Experience of delivering and effecting change, responding positively to change and acting as a role model;
Detailed understanding of Conduct Risk and its applicability to Retail and SME Banking and its customers
Experience of operating at a Mid Management level;
Positive behavioural style, with ability to be demanding when appropriate;
Decisive decision maker, providing timely insightful advice and recommendations;
Strong communication, relationship building and influencing skills;
Ability to produce clear and concise reports and recommending a robust course of action;
Ability to think strategically and transform strategy into pragmatic delivery solutions;
Ability and experience of building and maintaining strong networks across the business;
Ability to deal with multiple issues, tasks and priorities concurrently, working well under pressure to complete responsibilities within the identified deadlines; and
Excellent record keeping skills.
Key accountabilities:
GENERAL
Lead as the technical specialist providing Horizon Scanning in order to identify Upstream Regulatory change developments in a timely manner;
Responsible for identifying upcoming regulatory change impacting the Bank, ensuring each change is communicated and allocated to an accountable Business Owner to enable it to be assessed for potential risks and rewards, is appropriately prioritised and funded accordingly;
Undertake effective reporting and escalation of progress and issues to ensure that known regulatory change is being implemented across the Business in a timely and compliant manner;
Act as an early radar for the publication of regulatory enforcement activity, thematic reviews and other such publications. Identify and communicate these papers to the relevant Business and Risk stakeholders;
Prepare and communicated to key stakeholders a monthly Regulatory Round-Up which covers key publications received during the month;
Assist the promotion of the development and maintenance of a co-operative and transparent relationship with the Bank’s regulators, including provision of expert contributions to regulatory consultations;
Advocate and role model the risk management framework and positively contribute to the embedding of a risk based culture, coaching, influencing and challenging all colleagues to take personal accountability for risk based decision making;
Contribute to the development of the team within the unit to ensure an effective working environment, colleague commitment and consistently high performance;
Ensure all risks within the team and function are understood, managed and controlled (RCSA);
RISK IDENTIFICATION
Facilitate the embedding of the risk management framework ensuring it is consistently applied (Governance, Control Standards & Policies);
Assist the maintenance of the clear definitions for the key risks to be managed within Compliance.
Support the development, maintenance and embed the reporting on Conduct and Regulatory Risk Policy, Strategy, and Control Standards.
RISK MEASUREMENT
Contribute to the maintenance of the risk appetite / tolerance thresholds for Regulatory, Conduct, Product and Reputational Risks to ensure that these are communicated to the Bank as applicable;
Independently challenge and influence Senior Managers, peers and colleagues in relation to risk management and measurement.
RISK REPORTING
Responsible for collating and producing clear and concise high quality, user friendly and insightful management reports on Horizon Scanning to the Operational, Compliance & Financial Crime Risk Oversight Committee;
Responsible for collating and producing clear and concise high quality, user friendly and insightful management reports on Horizon Scanning to the Bank’s Executive-level oversight committee, as required by the Director of Compliance; and
Identify and escalate instances of inappropriate or inadequate management of regulatory, conduct, product and reputational risks in the first line of defence.
RISK MONITORING
Positively contribute to the embedding of a risk based culture by coaching, influencing and challenging first line colleagues to take personal accountability for risk based decision making;
Monitor key Regulatory Risks, including Conduct, Product and Reputational as part of the Upstream Risk process;
Complete the quarterly RCSA test for the in-scope EUC Upstream Risk Database.
Our Bank is committed to continuing to create a diverse workforce and an inclusive environment where all colleagues can fulfil their potential. We welcome applications from talented individuals from all backgrounds and lifestyles who can work with us in maintaining a culture of belonging, where people are valued and respected.
If you require more information or this document in a different format, please contact careers@co-operativebank.co.uk
As a reputable employer regulated by the Financial Conduct Authority, all offers of employment for this role are subject to a series of background checks, including criminal (DBS) and financial checks.