Head of Compliance

London
Operations – Compliance
Full Time

At Zopa, we’re shaping the future of finance.

We offer simple loans and smart investments that help people take control of their finances and do more with their money. In the 12 years we’ve been in business, we’ve helped more than 60,000 people lend over £2 billion to 246,000 UK consumers.

And our journey’s only just beginning. In November 2016 we announced our plans to build a next generation bank so that we can bring a greater range of smart, ethical finance products to even more people.

Zopa's Head of Compliance is there to create a compliance programme that uses a risk-based approach which provides coverage across the entire Zopa business. Working with senior management to handle regulatory risk, the Head of Compliance will also maintain Zopa's regulatory relationships, ensuring the regulators are kept informed of any notifiable events. All this, while providing support on various transformation and new business projects, in particular, the mobilisation and launching of our new bank.
 
This is a senior manager’s role carrying out the duties of Compliance (SMF16) and MLRO (SMF17).

Responsibilities:

    • Overseeing the identification, documentation and assessment of the compliance risks associated with the firm’s business activities, including the development of new products, business practices and financial promotions.
    • Coordinating compliance approval for the business for the development of new products, business practices and financial promotions. Liaising with other support and control functions (Legal, Finance, Ops Risk) to ensure risk impacts are mitigated and managed.
    • Advising the business where products and businesses practices are not TCF compliant, recommend measures to ensure fair customer treatment and Conduct Risk requirements are met.
    • Overseeing the breaches log to ensure that identified deficiencies and incidents are followed up and where necessary, making recommendations for amendments.
    • Reporting to senior management, the Audit Committee and the regulators where appropriate, on compliance matters, such as regulatory risk assessments, including any changes in regulatory risk, summarising any identified breaches and/or deficiencies and the corrective measures recommended to address them
    • Supervising the monitoring and testing of regulatory compliance by performing sufficient and representative compliance testing. Reporting the results of such testing to the Risk Management Committee.
    • Establishing and maintaining written manuals for the business on the appropriate implementation of regulation through policies and procedures and other documents such as compliance manuals, internal codes of conduct and best practice guidelines.
    • Issuing an annual MLRO report to the board to evidence compliance with AML and Financial Crime fighting incentives. This will include ensuring that AML and KYC obligations are met across the business such as staff training, customer and outsourcing due diligence, suspicious activity reporting and implementing improvements as required.
    • Ensuring that staff are educated on regulatory issues and that the mandatory compliance training, including senior management regime training, is rolled out to all staff and relevant board members.
    • Managing the compliance team to ensure that it is appropriately resourced to deliver the compliance function obligations under Zopa’s permissions.

Ideally you will have:

    • You will have been a Senior Compliance Manager or Head of Compliance within FCA/PRA regulated retail financial services and have extensive regulatory knowledge of COBS, CONC and BCOBS.
    • You must be able to challenge business products and processes to ensure regulatory compliance and have the ability to manage and influence regulatory and senior management relationships. 
    • You can communicate well with all staff levels to ensure regulatory knowledge is transferred and applied through your open and inclusive approach.
    • You are comfortable with an agile approach to business change and using your skill set to enable business development.
    • You are passionate about innovative finance products and have proven ability to work on several projects and under tight deadlines. 

We are committed to equality of opportunity for all staff and applications from individuals are encouraged regardless of age, disability, sex, gender, sexual orientation, pregnancy and maternity, race, religion or belief and marriage and civil partnerships.