About The Digital DRA
The Digital DRA is leading the way as the UK's first FCA authorised debt resolution agency with a modern and innovative approach. Our focus is on helping individuals resolve their overdue accounts, and we strive to move away from the negative connotations associated with traditional debt ‘collection’ methods. By utilising digital communication channels and cutting-edge technology, we help simplify the process and make it as convenient as possible for customers. As the business continues to grow, we are expanding our audit, compliance, and risk team.
About The Role:
The successful applicant will play a key role working across a number of key business functions. The role will focus on all aspects of regulatory compliance, audit, risk management and complaints to ensure adherence to and the ongoing development of our Compliance Monitoring Framework. It will also incorporate collaborative projects with the IT, Sales and Operations departments to optimise existing processes and systems both for operational reasons and to manage and mitigate risk.
Key Responsibilities:
1. Compliance Oversight:
Manage and continuously enhance a comprehensive compliance monitoring framework to ensure adherence to all relevant legislation, regulations, supporting the governance of the business.
Regularly conduct adequacy reviews of policies and procedures to reflect changes in regulatory requirements and business processes ensuring they are effectively communicated and understood across the business.
Prepare responses promptly to regulatory requests for information and inquiries, along with mandatory data submissions.
Conduct horizon scanning activities to stay abreast of industry news, trends, legislative changes, undertaking impact analyses and reporting to the leadership team, providing guidance on necessary adjustments to ensure ongoing compliance.
Establish robust monitoring mechanisms to track compliance with internal policies and external regulations.
Prepare and submit regular compliance reports to senior management, using MI to highlight performance hotspots, including strengths and opportunities for improvement, along with consumer-focused insights, with a particular focus on the cross cutting rules and key outcomes within the FCA Consumer Duty.
Chair the Audit and Compliance working group.
2. Risk Assessment and Management:
Monitor, oversee, update, and uphold the adequacy of the company's various risk registers.
Conduct thorough risk assessments to identify potential compliance issues, providing recommendations for mitigation and improvement.
Collaborate with cross-functional teams to implement and monitor risk management strategies, ensuring a proactive approach to identifying and addressing potential risks in project and product development initiatives.
Manage 3rd party supplier due diligence and monitoring and risk management including holding regular review meetings and conducting external audits in line with supplier management procedures.
Oversee and maintain adherence to the company’s information security requirements and standards.
Responsible for the management of the Integrated Management System (ISO 9001 – Quality Management System, and ISO 27001 – Information Security Management System) and champion opportunities for improvement in accordance with ISO 22458 (Design and delivery of inclusive service for vulnerable customers) and the maintenance of these standards across the business.
3. Audit and Investigation:
Coordinate both internal and external audits to assess and report on compliance levels and identifying areas of strength and potential areas for enhancement and monitoring progress of the design and delivery of solutions.
Lead investigations into reported issues, incidents or breaches, ensuring a thorough understanding of root causes and ensuring the implementation of appropriate corrective actions.
Be responsible for the management of the quality assurance framework.
Conduct regular quality assurance checks on customer interactions, customer self-serve journeys and business administration processes.
Design and deliver tailored compliance training programs for all staff members to ensure a comprehensive understanding of regulatory obligations, emphasising the importance of Consumer Duty.
Foster a culture of compliance awareness and ethical conduct throughout the business.
Promote a consumer-centric approach in all operations and look to introduce technology and automation to drive efficiencies with a compliant approach.
4. Complaints and Data Protection Requests:
Manage all customer EODs and complaints within regulatory timescales and enhance processes through automation and proactive manual intervention wherever possible.
Ensure all complaint investigations are conducted impartially and findings are transparently communicated to customers and offering fair and balanced remedies to customers based on investigation findings.
Ensure the complaints log remains accurate and up to date at all times.
Record and investigate root cause issues and recommend business improvements to reduce ongoing complaint levels.
Ensure all Subject Access Requests and other Data Protection requests from Data Subjects are responded to in line with timescales stated within legislation.
5. Sales and Client Relationship:
Collaborate closely with the sales team to complete due diligence processes, responding to RFIs, contract reviews and ensuring compliance considerations are addressed in client-facing materials.
Participate in occasional client meetings and calls to discuss compliance-related matters, providing expertise and forging strong relationships.
Ensure all regular client compliance reporting is completed and sent in line with each clients expectations.
Requirements/Knowledge/Skills/Experience:
1. 3–5 years’ experience in a collections or similar financial services industry as a Compliance Manager / Head of Compliance.
2. Substantial experience of delivering a robust, high quality compliance, control and governance framework, and implementing associated risk management and mitigation strategies.
3. Experience establishing best practice and the ability to drive ongoing improvements.
4. Demonstrated ability to make risk management and internal audit a value-added, pragmatic business activity.
5. Proven expertise in evaluating compliance and risks and designing controls in accordance with best practice and current regulations.
6. Excellent IT and numeracy skills are essential.
7. Strong influencing and project management skills are essential.
8. Good knowledge of MS Office Package (Word, Excel, and PowerPoint).
9. Ability to work accurately and independently.
10. Excellent organisational skills.
11. Able to multi-task, manage time effectively and keep calm under pressure.
12. Ability to work at pace.
13. Excellent analytical skills and an eye for detail.
14. Ability to project manage and work to strict deadlines.
Job Type: Full-time
Pay: £45,000.00-£60,000.00 per year
Benefits:
* Casual dress
* Company pension
* Work from home
Schedule:
* Monday to Friday
Education:
* GCSE or equivalent (preferred)
Work Location: Hybrid remote in Halifax HX1 5ER
Expected start date: 06/01/2025
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