Location: East Midlands (hybrid: on-site and remote)
Type: Permanent; interim or fractional considered
Salary: £70,000–£90,000 depending on experience
Functions: SMF16 Compliance Oversight and SMF17 Money Laundering Reporting Officer
Sector: Consumer finance (credit broking)
Role
A directly authorised consumer finance business, part of a larger financial group, is looking for a Senior Compliance Manager to hold its SMF16 and SMF17 functions. The business has recently moved its model from lending to credit broking, and wants an experienced compliance leader to take ownership of the compliance and financial crime framework through the next stage of its growth.
This is a hands-on leadership role. You'll take the lead on regulatory matters, develop a small in-house team, and work alongside an external compliance firm that is reviewing the current framework. You'll be the business's main regulatory voice with the board and the FCA.
The firm is open to a permanent appointment, and would also consider an interim or fractional arrangement for the right candidate.
- Hold the SMF16 Compliance Oversight and SMF17 MLRO functions once approved by the FCA
- Lead the firm's compliance framework following its move from lender to credit broker, including permissions, policies and controls
- Work with the external compliance reviewers, prioritise their findings and lead the remediation plan
- Build, develop and lead a small in-house compliance team
- Embed the Consumer Duty, including outcome monitoring, fair value and the treatment of customers in vulnerable circumstances
- Oversee financial promotions, complaints handling, and the firm's relationships with lenders and introducers
- Own the anti-money laundering framework, risk assessment and suspicious activity reporting as nominated officer
- Manage regulatory reporting and the firm's relationship with the FCA
- Report regularly to the board and the wider group on compliance risk and regulatory change
- Experience of having held, or acted as deputy for, SMF16 and/or SMF17 at an FCA-regulated consumer credit firm
- Strong knowledge of the FCA's Consumer Credit sourcebook (CONC), credit broking requirements and the Consumer Duty
- Experience of leading remediation or building a compliance function
- Experience of motor, retail or point-of-sale finance, or similar consumer finance products, is a strong advantage
- Confidence in dealing with the FCA, including variations of permission and regulatory reporting
- A people leader who can develop a less experienced team
- A recognised compliance qualification is an advantage
- Salary of £70,000–£90,000 depending on experience
- Hybrid working, split between the office and home
- Senior, visible role with real influence over the firm's compliance direction
- The backing of a larger financial group
- Interim or fractional options considered for the right candidate