Compliance Monitoring Officer Compliance Monitoring Officer …

Canada Life Limited
in Potters Bar, England, United Kingdom
Permanent, Full time
Last application, 24 Feb 21
competitive depending on experience
Canada Life Limited
in Potters Bar, England, United Kingdom
Permanent, Full time
Last application, 24 Feb 21
competitive depending on experience
Posted by:
Andrew Price • Recruiter
Posted by:
Andrew Price
Recruiter
Canada Life are recruiting for a Compliance Monitoring Officer to join our Potters Bar, Hertfordshire team.

Canada Life UK looks after the retirement, investment and protection needs of individuals, families and companies. We help to build better futures for our customers, our intermediaries and our employees by operating as a modern, agile and welcoming organisation.

Part of our parent company Great-West Lifeco, Canada Life UK has operated in the United Kingdom since 1903. We have hundreds of respected and supported employees committed to doing the right thing for our customers and colleagues.

Canada Life UK is transforming to create a more customer-focused business by providing our customers with expertise on financial and tax planning, offering home finance and annuities propositions, and providing collective fund solutions to third party customers.

Job Purpose

We now need a Compliance Monitoring Officer to support the transformation and the future growth of the business within the Risk & Compliance function. The Compliance Function (part of the 2nd Line of Defence) will be responsible for overseeing and monitoring the activities of the 1st Line of Defence, and providing consistent and technically accurate regulatory advice to the Business. The function will also be responsible for effectively balancing delivery of strong regulatory compliance along with sound commercial implementation. 

Support the Compliance Assurance Manager and carry out the planned Compliance assessments, focusing on the delivery of fair outcomes and work with the business to agree actions that address the causes of issues.  Ensure that new and/or material control processes required as a result of business change initiatives also deliver their intended outcomes. Follow through to ensure that the business appropriately addresses any shortcomings.
 

Key Accountabilities

Undertake reviews in accordance with the agreed Compliance Plan, assessing the effectiveness of key conduct risks and regulatory control processes to evaluate the delivery of intended business and regulatory outcomes, including adherence to regulatory and Company standards.

•Summarise the outcome of assessments to the business Exec or Management, ensuring their understanding of the materiality of issues and agree actions which address the issues and provide sustainable good customer outcomes. 
•Where necessary, follow through on reviews and audits to influence managers to enhance processes and controls to better ensure delivery of  intended business and regulatory outcomes, including compliance with any specific regulatory rules. Subsequently follow up on identified issues to assess whether the business has taken appropriate corrective action.
•Track the completion of action points, support and advise the business areas in the adequacy of the action proposed.  Provide management information and reports on the progress of reviews and audits.
•Continue to build knowledge and understanding of these businesses and corresponding market sectors. 
•Input into the development and maintenance of a risk-based approach to planning review programmes.

Detailed working knowledge of the Regulatory requirements, particularly the FCA, Data Protection and Financial Crime/Anti Money Laundering rules and guidance.  Have the ability to interpret rules, principles and guidance for the business.
 

Desired Knowledge / Experience / Skills

•Able to plan, manage and conduct audits and reviews with minimal supervision.
•Good report writing skills.
•Good oral communication that can adapt to the audience.
•Sound judgement in balancing regulatory requirements with business needs.
•Able to complete reviews and audits and present findings in a timely and focused way.
•Maintain effective working relationships with colleagues and other governance functions.
•Flexible, willing to travel to other office locations

•Degree Level qualification or equivalent
•Have or currently studying for a financial services or regulatory qualification

What you’ll like about working here

As a Canada Life UK colleague, you’ll receive a competitive salary and comprehensive reward package including income protection, private medical insurance and life assurance, along with a generous pension and bonus scheme. You’ll also receive the support you need with your personal and professional development.

 

Diversity and inclusion

Canada Life is committed to a diverse and inclusive workplace. Our role as an employer of choice is to provide the right environment for talented people to do their best work, by respecting, understanding and valuing individual differences

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