Head of Legal and Compliance

Our client is the UK branch of an international overseas commercial bank, listed on 2 international stock exchanges. As an integrated financial service provider, they offer first class commercial banking with a diverse portfolio of corporate and retail banking products and services, including treasury operations and asset management, as well as investment banking, fund management, financial leasing and life insurance. Their UK operation is entirely focused on wholesale banking at the moment, but this may open up to broader services moving forward. This is an opportunity to join the team as Head of Legal & Compliance (SMF16). Based in London, this role reports to the Deputy General Manager and leads a team of 5. The Head of Legal and Compliance is responsible for leading the compliance function to ensure the branch operates within the legal and regulatory framework applicable to its activities. This role ensures robust policies, controls, and monitoring are in place to manage compliance risks effectively; including SMCR responsibilities and requirements by the FCA and PRA  Responsibilities Compliance ·        To ensure the Bank's operations meet all legal and regulatory requirements and industry guidelines/ practices as set by the FCA and PRA. ·        Assume responsibility for quality assurance work within the business by implementing appropriate risk-based compliance, highlighting any key risk areas to senior management. ·        Participate in new projects/ activities in order to timely assess and address the compliance risks associated with such projects, updating the Deputy General Manager at all times. ·        Provide input and advice which supports new business/ product development using appropriate process channels, ensuring adherence with all applicable regulations including (where necessary) approval of financial promotions. ·        Formulate and maintain compliance policies and procedures which are relevant to the business model and local regulatory regime whilst conforming as far as possible to the Group policies and procedures. Ensure that these are kept up to date and reviewed at least annually. ·        To provide regular and ad-hoc training to staff on key compliance policies and regulatory requirements, including 1:1 onboarding training for all new staff. ·        To review all documentation that contractually binds ABCLB, including client documentation, vendor agreements and other third-party legal agreements and recommend changes or approval to the Deputy General Manager responsible for Legal and Compliance Management ·        Responsible for providing effective leadership and management of the Compliance Department to develop high standards of performance for the Compliance department striving to provide optimum level of service to customers (both interna and external) at all times, on a consistent basis. ·        Act as a focal point of contact with both the PRA and the FCA concerning regulatory matters, keep the Deputy General Manager and Management Committee updated as appropriate. ·        Maintain knowledge and awareness of key regulatory changes impacting the business, including review of relevant local regulatory consultation papers, discussion papers, guidance, policy statements, thematic reviews and enforcement cases. ·        Keep Deputy General Manager responsible for compliance department and Management Committee abreast of all relevant regulatory matters, working with key stakeholders concerning any implementation changes required and providing assistance and guidance where necessary. ·        Plan and manage all regulatory and internal audit requirements for the compliance functions, highlighting any areas of concern promptly to the Deputy General Manager. ·        Resolve and follow up any issues raised by the regulators ·        Ensure effective performance management appraisals of the compliance team members are conducted in line with the Bank's relevant procedures ·        Be cognizant of economic, political and social conditions which impact the business and communicate any material changes which could impact compliance matters to senior management ·        Develop and maintain a robust Business Continuity Plan for the department ·        Develop annual compliance plans to ensure the objectives are monitored periodically so the plan is met. ·        Develop and implement strategies to ensure that a strong compliance culture is maintained throughout the branch COMMITTEE AND GOVERNANCE RESPONSIBILITIES As Head of Legal and Compliance you may have certain governance and committee responsibilities that you are required to discharge as part of your employment with the Bank. These are set out in the respective Committee Terms of Reference, which can be found on the Bank's shared drive. OTHER RESPONSIBILITIES You are required to comply at all times with your contract of employment and all policies, procedures, rules, guidelines handbooks and similar documents applicable to you as an employee of the Bank. EXTERNAL RELATIONSHIPS ·        Customers ·        Correspondent Banks ·        Regulators FCA/ PRA ·        Association of Foreign Banks ·        External Auditors ·        Outsource Service Providers and Vendors Qualifications Given the nature of the bank and the requirements of the role, we are specifically looking for an experienced compliance leader with a legal background (min. Bachelor's degree in Law) and fluent Mandarin language skills (verbal and written).