Head of Clearing Compliance UK

The Head of Compliance Clearing UK (HoC) is positioned in the Compliance Department and is responsible for compliance advice, policy, risk assessment, monitoring, training and other support for the regulated activities conducted within ABN AMRO Clearing Bank N.V., London Branch (‘AACB LB’) and ABN AMRO Clearing London Limited (‘AACL’). The HoC has a hierarchical A reporting line to the Global Head of Clearing Compliance, and a hierarchical B reporting line to the Managing Director of ABN AMRO Clearing Bank N.V., London Branch; additionally, the Head of Compliance Clearing UK will have a cooperation line with the UK Country Compliance Head.

The HoC will be the Money Laundering Reporting Officer (‘MLRO’), responsible for anti-money laundering & other financial crime compliance for AACB LB and AACL. The MLRO is positioned in the Compliance Department, has a hierarchical reporting line to the Global Head of Clearing Compliance, a functional reporting line to the Managing Director of ABN AMRO Clearing Bank N.V., London and a cooperation line with the UK Country Compliance Head, as well as to the Global Head AML & Sanctions. The HoC will be the SIM representative for AACB LB and AACL.

The HoC will be the UK data privacy officer for AACB LB and AACL and will have a cooperation line with the Group Data Protection Officer.

Direct reports: 4 FTE - the UK Compliance Team for ABN AMRO Clearing Bank N.V., London Branch.

The compliance function centres on compliance risks. Its mission is to assist senior management in identifying, assessing and effectively managing the compliance risks of ABN AMRO.

It has developed a risk-based approach designed to ensure that every reasonable measure (including policies, procedures, instructions, IT systems, monitoring methods, awareness and training activities, objective-setting, incentives, deterrent measures and sanctions) is taken in order to avoid or reduce the possibility of such compliance risks occurring and to minimise the damage if such a risk should nonetheless occur.

The department is responsible for all UK Clearing compliance matters on advice, policy, training, regulatory developments, and monitoring regarding financial laws, rules and regulations, data privacy and combatting financial crime.

The HoC will enhance decision making across ABN AMRO Clearing Bank N.V., London Branch by applying a combination of business knowledge and regulatory expertise. The HoC will be dedicated to doing this in a way that:

• upholds the legal, regulatory and ethical standards of AACB LB and AACL;
• fosters partnerships and collaboration throughout AACB LB and AACL;
• takes a proactive approach in leading the implementation with regard to changes in relevant laws, rules and regulation, including awareness programmes where appropriate;
• Fosters and develops a robust dialogue and information sharing through the cooperation line with the UK Country Compliance Head
• leads and develops the UK Clearing Compliance team, and sharing best practices within the broader UK Branch Compliance Team;
• heightens awareness of relevant regulatory issues;
• delivers consistent guidance and innovative solutions;
• promotes the business success and growth of the firm;
• augments the standing of the firm in the marketplace; and works in collaboration with other Clearing HoC and Head Office Compliance Management

The key requirements of the role are:

• to provide senior management with a compliance framework which assists in the ongoing identification of emerging regulatory risks, assessment, mitigation and monitoring of all compliance risks;
• to provide the business and support functions with a proactive, expert and effective regulatory compliance advisory service;
• to work effectively at all levels across ABN AMRO to provide support and assistance;
• to ensure that periodic Compliance monitoring is performed, documented and analysed, so that the follow up of any actual or potential issues can be undertaken;
• to ensure that incidents, such as complaints and whistleblowing, are adequately investigated both independently and in a timely manner;
• to establish, implement and maintain adequate policies and procedures sufficient to achieve compliance with ABN AMRO’s obligations under relevant regulations and for countering the risk that the firm might be used to further financial crime;
• to lead and manage the relationship with UK regulators in a transparent and proactive manner in respect to matter relating to the Clearing Business Line;
• to provide periodic and other relevant reports/management information, including the annual Compliance Plan, to be presented to the Clearing UK Enterprise Risk Committee and the Global Head of Clearing Compliance as and when required;
• to ensure that the Compliance Annual Plan is aligned with the strategic objectives of the Clearing Business Line;
• on a systematic basis, together with Business Line management, identify and assess regulatory risks;
• to ensure that effective training in relation to compliance with laws, rules, regulations and policies is provided to all relevant stakeholders on relevant regulatory and financial crime matters.
• to act as the appointed AACB LB and AACL UK Money Laundering Reporting Officer (“MLRO”) and the UK Data Privacy Officer ("DPO") in support of the Group Data Protection Officer and the Head of AML & Sanctions.

The MLRO has the following responsibilities:

• to provide senior management with a financial crime framework which assists in the ongoing identification, assessment, mitigation and monitoring of all Financial Crime risks;
• to provide the business and support functions with a proactive, expert and effective financial crime advisory service;
• to work effectively at all levels across ABN AMRO to provide support and assistance in respect of financial crime matters
• to ensure that periodic financial crime monitoring and reporting is performed, documented and analysed, so that the follow up of any actual or potential issues can be undertaken;
• to ensure that incidents, such as financial crime breaches, are adequately reported on and investigated both independently and in a timely manner - as well as being suitably documented
• to oversee the establishment, implementation and maintenance of adequate policies and procedures sufficient to achieve compliance with AACB LB and AACL’s obligations under relevant laws, rules and regulations and for countering the risk that the firm might be used to further financial crime. This will include implementation of Group policies and agreeing an uplift to such policies to reflect local requirements where enhancement is needed;
• to receive internal suspicious activity reports and determine whether an appropriate external suspicious activity report (SAR) should be submitted to the NCA
• to liaise with other law enforcement agencies and external stakeholders on all matters relating to the reporting financial crime and when dealing with requests for information
• to remain aware of sanction notices, prohibition or advisory notices and ensure that appropriate actions are taken in relation to such matters;
• to provide periodic and other relevant reports/management information, including the financial crime risk assessment, financial crime risk appetite statement and to provide input in to the UK Branch MLRO report on a systematic basis, together with business line management, identify and assess financial crime regulatory risks and devise solutions to mitigate such risks working in liaison with Head Office and local stake holders;
• to maintain robust arrangements for the provision of Financial Crime Dashboard and MI reporting in relation to the UK entities under the MLRO’s oversight remit.
• to foster credible and meaningful relationships with UK senior management and key stakeholders within Head Office; and
• to ensure that effective training in relation to compliance with laws, rules, regulations and policies is provided to all relevant stakeholders on all financial crime matters.

Collaboration and Communication

The role requires the individual to work effectively at all levels across ABN AMRO to provide support and assistance.

This will necessitate:

• communicating with and influencing senior management in both first and second lines, especially UK Clearing Enterprise Risk Committee, the Clearing Financial Crime Committee and other relevant governance forums, on both matters arising and strategic decisions which have regulatory relevance;
• actively supports the Managing Director and the Global Head of Clearing Compliance and other senior managers in promoting and developing conduct, culture and ethics within the firm;
• communicating with compliance colleagues in both the UK and other offices, to harmonise best practices and promote a more uniform approach on compliance advisory, training, policy and monitoring matters;
• communicating with industry peers to identify latest themes and issues and best market practices; and
• communication with regulators, external authorities and auditors in a timely, open and co-operative manner.
• communicating with and influencing senior management in both first and second lines, on both matters arising and strategic decisions which have regulatory relevance in relation to Financial Crime matters;
• cooperation line with both the UK Bank Country Compliance Head and the UK Bank MLRO
• communicating with financial crime colleagues in both in the UK and other offices, to harmonise best practices and promote a uniform approach on financial crime advisory, training, policy and monitoring matters; communicating with industry peers and attending relevant industry events to identify latest themes and issues and best market practices.

Management and Leadership

• Promote a culture of good conduct by demonstrating and communicating the expected levels of behaviour and integrity by encouraging a speak up culture, compliance and completion of all mandatory/regulatory training courses, including but not limited to SHARP
• Regularly assess employees’ level of conduct and address instances of poor conduct
• Demonstrate and promote the expected levels of behaviour and employee integrity by showing strong adherence to moral and ethical principles and internal rules, policies and procedures
• Create an open and safe working environment which is free from barriers and where employees respect the opinions of others, feel free to give voice to their values, report and learn from mistakes by proactively asking for feedback and raise issues or concerns without fear of negative consequences
• Negotiates with a genuine give-and-take approach, where both act as true peers and decisions are shared where appropriate.
• Spend time identifying all stakeholders needs, connecting with and neglecting no one to shape a collective consensus.
• Identify opportunities to build relationships that will help others achieve their objectives and reaches out to those people or new people
• Guide and coach employees in the objective setting process to ensure the overall mission and objectives of the department are fulfilled whilst ensuring the individual roles and responsibilities are clear, fostering a collaborative team spirit (locally and internationally) and ensuring robust mechanisms are implemented to limit key person dependencies
• Act to surpass goals, seizing opportunities to continuous improvement and the delivery of results.
• Set continually higher goals that are ambitious but realistic for self and team, geared to organisational objectives.
• Focus on new business opportunities that enable business development targets to be achieved.
• Assess periodically the overall skill sets of the team and ensure that training and development needs are identified and acted upon via regular team and one to one meetings
• Regularly reviewing Succession Management and Talent Development plans, providing employees development opportunities to support those plans
• To carry out Human Resource Management tasks within the framework set for this purpose by ABN AMRO in order to ensure optimum allocation, motivation and knowledge of staff.
• Build strong relations with a variety of stakeholders in the UK and abroad

ABN AMRO Clearing is a global leader in the domain of clearing, offering access to a wide range of listed instruments on markets across the globe. Our clients can select to open an account in one of our local offices in APAC, EU or US and receive their daily position reporting on a regional basis.

At ABN AMRO Clearing we acknowledge the important role we play in society and wish to play a constructive part in addressing the issues affecting the world around us. Our aspiration is to develop business in a sustainable way for the benefit of our clients, employees and society at large. This ambition is based on our purpose which forms the basis of our activities.

Clearing UK is based in London and has approximately 100 employees, with close links to our other international countries.

• Ideally degree educated, or a strong academic record
• Ideally previous experience as an Approved Person (CF11) and / or SM&CR SMF 16 & 17, with a proven track record of regulatory liaison relationship building
• Experience within the relevant financial services sector
• Ideally professional qualifications, such as the CISI Diploma or equivalent.
• A strong and demonstrated ability to provide compliance advice and have a thorough understanding of relevant regulatory requirements
• Ability to communicate clearly and concisely on complex regulatory compliance issues at all levels, both internally and externally
• Must have the stature, maturity, intellect and commercial acumen to work effectively and inspire confidence internally with the businesses, as well as externally with regulators. Gravitas to operate and be a business partner at UK Exco level.
• An excellent listener with well-developed communication and people management skills to manage the team in order to deliver high quality and efficient output.
• Strong quantitative and analytical skills.
• Ability to convince and make difficult decisions.
• Ability to flex styles and show courage and authority.
• Ability to enforce compliance regulations and procedures at senior management level
• Ability to inspire, set the tone and create positive energy.
• Independent enterprise thinker with a high dose of tenacity.
• Advocates and lives the bank’s Cultural Values, behavioural conduct, leading by example.
• Proven leadership, coaching and development skills
• A deep understanding of relevant existing, and emerging regulatory requirements
• A strong understanding of data privacy legislation and requirements
• Excellent command of the English language both written and orally.

Joining ABN AMRO means working on meaningful projects. Projects that have an impact on our clients. Working with a wide range of people with different backgrounds, opinions and ideas. In the UK, in the Netherlands or elsewhere in our international network. We offer an environment where you will be challenged on a daily basis - professionally as well as on a personal level - so that you can grow to become the professional you want to be.

We have identified that the following types of flexible working may be suitable for this role in principle.

Any requests will be determined in line with our Flexible Working Policy:

Type of Flexible Working Likely to be suitable
Remote Working Yes
Flexitime Yes
Unpaid leave Yes
Staggered hours Yes

Are you interested? Please apply via the button below.

For more information please contact Niki Champion, Senior Resourcing Partner, UKrecruitment@uk.abnamro.com, +44 203 192 9342.

Lees meer