Role Purpose: To perform the day-to-day Second Line of Defence Regulatory Compliance activities across the whole of Reclaim Fund Limited’s Activities, as well as certain risk activities as required, under the supervision of the RFL CRO. Responsibilities: Compliance Framework · Maintenance of the RFL Compliance Framework, within the context of the overall RFL Risk Management Framework (RMF), to ensure it remains up-to-date and in line with good practice. · Review of regulatory Key Risk Indicators to ensure these provide adequate coverage of key risks and that the thresholds are aligned with RFL’s risk appetite. · Ensure that compliance requirements are communicated across all parts of the business, are understood and are working effectively. This will include developing and rolling out effective training across the business. · Working with First Line to develop and maintain compliance manuals, policies and procedures. · Manage RFL’s Gifts & Hospitality and Anti-Bribery & Corruption processes, ensuring these are communicated to and clearly understood by all members of RFL. · Maintain RFL’s Whistleblowing processes ensuring that these are in line with good practice, provide adequate protection to those who wish to make disclosures and are well communicated. · Ensure that RFL’s Data Protection processes are fit for purpose and embedded across RFL. Regulatory Engagement · Provide day-to-day management of relationships with the FCA, under the supervision of the CRO. · Manage RFL’s engagement with the ICO, if and when required, in respect of Privacy and Data Protection · Co-ordinate RFL’s responses to regulatory requirements, developments and enquiries, ensuring that responses are adequate and delivered on a timely basis. Regulatory And Government Compliance · Perform ‘horizon scanning’ of regulatory developments, proactively identifying aspects that could impact RFL and communicating these to management clearly and on a timely basis. · Analyse and interpret existing regulations and regulatory developments, and the implications for RFL, and communicating these clearly to management. · Support management in developing compliant responses to regulations, ensuring these are adequate and proportionate. · Monitor RFL’s compliance risk profile and use a risk based approach to determine whether any assurance reviews or deep dives are needed to assess levels of compliance and identify any remedial action required. · Provision of input and challenge to the RFL business planning and strategy processes in respect of regulation and legislation. · Manage RFL’s Senior Management and Certification Regime (SMCR), including providing advice to management and Board as required. · Provide advice and interpretation as required in relation to government requirements of RFL as an Arms Length Body. · Provide oversight of RFL’s compliance with government requirements, with particular relating to the management of public money. Risk Management · Provision of challenge and comment on RFL Management’s view of the regulatory risks facing RFL, including adherence to the Risk Appetite set by the Board. · Provision of oversight and advice in respect of Privacy and Data Protection Risks, taking into account ICO/GDPR requirements. · Oversight of any breaches of compliance appetite limits or regulations, ensuring that first line have developed appropriate mitigating actions and that escalation is appropriate and timely. · Provide risk management support where required by the CRO on risks facing RFL across all parts of the business and all risk categories. · To provide support to the RFL Risk System project (currently in design phase) and ensure that regulatory risks and responses are captured appropriately and kept up to date by First Line. Control Testing · Delivery of assurance over First Line regulatory controls as part of RFL’s twice yearly Risk & Control Self Assessment (RCSA) programme. Team · Effective working with the RFL Team to create a good working relationship with an appropriate balance between challenge and collaboration. · Always behave in accordance with RFL’s Purpose, Mission and Values. Dependencies & Key Relationships: The role is expected to operate as the Second Line of Defence, providing insight and challenge to move RFL forward. As such, there is a need to maintain an appropriate level of objectivity whilst also being a core part of the small RFL team. The role is responsible for managing RFL’s regulatory activities, and so will be required to manage a good day-to-day relationship with the FCA, in line with the guidance provided by the CRO. The role will also be responsible for engagement for the ICO, as and when required. Knowledge, Skills and Experience Required: Knowledge and Experience · Educated to degree level and/or holds a relevant professional qualification. · Excellent up-to-date knowledge of relevant regulations and legislation. · Experience of liaison with the FCA and/or PRA. · Aptitude for working with government departments, ideally with understanding of the requirements of arms length bodies. · Good experience in the management of risk with particular focus on regulatory and legislative risks. · Relevant experience in the Financial Services Industry, preferably with bigger businesses. · Experience in analysing information and production of MI and reports for senior level stakeholders. Skills · Good stakeholder management skills. · Good understanding of regulatory capital. · Demonstrates sound, commercial judgement. · Able to challenge and provide insight in a constructive manner. · Able to translate complex concepts into pragmatic solutions. · Ability to communicate regulatory requirements in a clear and simple way to stakeholders. · Good analytical and problem-solving skills. · Able to take a ‘big picture view’. · Good interpersonal and communication skills. · Good ‘can do’ attitude. · Flexible and adaptable. · Good personal organisation; manages own time and juggles priorities. · Acts with integrity and responsibility at all times. · Good cultural fit with Reclaim Fund Ltd.