Compliance Officer - Wealth Management Hertfordshire Hybrid Circa £50k-£60k Purpose of the Role Support the individuals holding senior compliance functions (equivalent to SMF16 and SMF17) at an established wealth management and asset management firm.
Ensure the business adheres to the standards set by the Financial Conduct Authority (FCA) by maintaining and overseeing compliance frameworks and procedures.
Additionally, manage staff training and competency requirements to support their development and adherence to regulatory expectations.
Key Responsibilities Regulatory Compliance Adhere to the Financial Services and Markets Act 2000, FCA Conduct Rules, and related guidance.
Maintain open and transparent communication with the regulator, providing disclosures as required.
Promote and uphold ethical standards throughout the organization.
Stay informed about changes in regulatory, technical, legislative, and product-related updates.
Implement robust systems and controls for all business operations, ensuring regular reviews.
Maintain comprehensive compliance documentation for all operational areas.
Provide monthly compliance reports to senior management, highlighting key issues and risks.
Conduct ad hoc reporting to decision-makers when critical compliance challenges arise.
Monitor advice quality through pre-sale and post-sale file checks.
Review and approve financial promotions and carry out product due diligence as necessary.
Training & Competence (T&C) Evaluate advisor performance using a defined set of key performance indicators (KPIs).
Oversee development plans for advisors, offering guidance on areas for improvement.
Conduct observed meetings or simulated scenarios to assess advisor competencies.
Facilitate quarterly review sessions with advisors to monitor progress.
Continuously adapt the firm's T&C framework to align with regulatory updates and arrange training sessions as required.
Anti-Money Laundering (AML) and Data Protection Assist in updating and implementing policies on financial crime prevention and AML.
Ensure staff are well-informed and trained on AML and financial crime protocols.
Collaborate with relevant senior personnel to maintain and enforce effective data security measures, ensuring policies are followed.
Required Skills and Attributes Strong understanding of FCA guidance, including COBS.
Excellent organizational skills and computer proficiency.
Professional demeanour and excellent interpersonal skills.
High levels of energy and initiative.
Strong ethical principles and an honest approach to compliance.
Ability to work effectively as part of a team while achieving independent goals.
Focused, motivated, and driven to maintain high standards.