Compliance Manager – Retail
- London, England, United Kingdom
- Permanent, Full time
- Russell Investments
- 20 Sep 16
The purpose of this position is to support the Director, EMEA Compliance with regulatory oversight of Russell’s retail distribution activities whether conducted in the UK or in other EMEA jurisdictions.
Job Title: Compliance Manager – Retail
Location: London, UK
The purpose of this position is to support the Director, EMEA Compliance with regulatory oversight of Russell’s retail distribution activities whether conducted in the UK or in other EMEA jurisdictions. Activities will include the continued assessment of current and emerging regulation and its impact on Russell’s retail activities, the on-going assessment of a compliance framework of policies and procedures, the provision of regulatory advice (including that relating to the Russell Wealth Management Service) and regulatory training to EMEA associates as necessary. The role will be based in Russell’s London office and will report directly to the Director, EMEA Compliance.
The responsibilities of the individual in this position include:
1. Monitoring and Interpreting regulatory developments and advising EMEA regulated entities (with a focus on retail activities) on business impact and necessary process changes. 40%
2. Dealing with general regulatory queries and the provision of technical regulatory advice and guidance (retail bias) to Russell’s EMEA regulated entities, the EMEA Compliance Function and globally. 20%
3. Assist with the oversight and assessment of compliance advisory services provided by third party compliance advisory consultants to any Russell office located in various EMEA jurisdictions. 10%
4. Maintaining EMEA-wide compliance policies and procedures which comprise the EMEA Compliance Framework and advising on the drafting of associated departmental procedures (retail bias). 10%
5. Provision of periodic training to all relevant associates of Russell’s EMEA regulated entities in relation to regulatory developments and the EMEA Compliance Framework. 5%
6. Work with the EMEA Product Development & Management team contributing a ‘regulatory voice’ in the early stages of new product development. Particularly where products are targeted for retail distribution. 5%
7. Maintaining and advising on the conflict of interest registers (maps) for the Russell regulated entities. 5%
8. Assist with the preparation and as necessary, delivery of regulatory reports to the various board of directors and committees of the Board. 5%
The successful candidate will have extensive demonstrable skills and experiences including the following:
- Experience of working at a senior level in retail advisory compliance for an asset management, financial advice/investment management FCA regulated firm or equivalent knowledge or experience gained with a regulatory body.
- Good understanding of retail distribution of investments.
- Good knowledge of FCA rules and guidance (e.g. PRIN, SYSC, SUP, DISP, RPPD) is essential. Strong working knowledge of COBS is essential.
- An understanding of the FCA RDR and its impact on regulated entities (particularly asset managers) is an advantage.
- Good knowledge of EU Directives (MiFID II essential).
- Ability to work collegiately within a small team structure in a very "hands on" role.
- Strong interpersonal skills/communication skills. Ability to communicate orally and in writing at senior level and globally as required.
- Strong report writing and policy/procedure writing skills.
- University undergraduate degree or equivalent qualification / equivalent experience
- IMC/CISI-Wealth Management/ Investment Management/ICA/CISI Diploma in Compliance – preferred