Compliance & Conduct Risk Manager (Financial Assistance)

Hello, we’re Starling. We built a new kind of bank because we knew technology had the power to help people save, spend and manage their money in a new and transformative way. We’re a fully licensed UK bank with the culture and spirit of a fast-moving, disruptive tech company. We’re a bank, but better: fairer, easier to use and designed to demystify money for everyone. We employ more than 3,000 people across our London, Southampton, Cardiff and Manchester offices.

Our recruitment process:

Interviewing is a two way process and we want you to have the time and opportunity to get to know us, as much as we are getting to know you! Our interviews are conversational and we want to get the best from you, so come with questions and be curious. 

Following your application being reviewed, you can expect the below:

Stage 1 – Telephone call with Talent Acquisition Partner

Stage 2 & 3 – Role related interviews with relevant stakeholders

Closing Date: Friday 13th December

Hybrid working: This role can be based from either our Cardiff or Manchester office with a minimum of 10 days per month spent in the office, and the rest from home.

About the role:

The Compliance & Conduct Risk Manager is responsible for supporting the Financial Assistance (Collections) team in managing compliance and conduct risks associated with debt collection activities. This role ensures that all Financial Assistance activities adhere to regulatory requirements, internal policies, and ethical standards, while maintaining a customer-centric approach. The officer will work closely with other teams to ensure that conduct risk is effectively identified, managed, and mitigated within the first line of defence.

Key Responsibilities:

Compliance Monitoring and Oversight:

• Conduct regular reviews and audits of Financial Assistance activities to ensure compliance with relevant UK laws, regulations, and internal policies, such as the Consumer Credit Act 1974, the Financial Conduct Authority (FCA) guidelines, the General Data Protection Regulation (GDPR), and the Data Protection Act 2018.
• Monitor the implementation of compliance and conduct risk management frameworks within the Financial Assistance department.
• Identify gaps or breaches in compliance and collaborate with the Financial Assistance Manager to develop and implement corrective actions.

Risk Assessment and Management:

• Perform risk assessments to identify potential compliance and conduct risks associated with debt collection practices, considering the requirements of UK regulatory bodies such as the Financial Conduct Authority (FCA), the Information Commissioner’s Office (ICO), and the Prudential Regulation Authority (PRA).
• Maintain a risk register and ensure risks are effectively reported, escalated, and managed in line with the company’s risk appetite.
• Support the development and maintenance of controls to mitigate identified risks, ensuring alignment with the FCA’s Senior Managers and Certification Regime (SM&CR).

Policy (Standards) and Procedure Development:

• Assist in developing and updating policies, procedures, and guidelines related to Financial Assistance activities to ensure alignment with regulatory requirements and best practices, including Treating Customers Fairly (TCF) principles and the FCA’s Consumer Duty.
• Communicate and implement new policies and procedures to the Financial Assistance team and ensure understanding and adherence.

Training and Awareness:

• Deliver training sessions and workshops to Financial Assistance colleagues on compliance, conduct risk, data protection (GDPR), and customer conduct topics.
• Promote a culture of ethical behaviour, compliance, and risk awareness within the team, in line with UK regulatory expectations.

Stakeholder Engagement:

• Collaborate with internal stakeholders, such as Legal, Compliance, Risk Management, and Data Protection Officers, to ensure a cohesive approach to managing compliance and conduct risks.
• Liaise with external stakeholders, including regulators (FCA, ICO), auditors, and industry bodies, as necessary.

Reporting:

• Prepare regular reports on compliance and conduct risk management activities, including identified risks, breaches, and remediation actions, for presentation to senior management and regulatory bodies.
• Provide insights and recommendations to senior management on compliance and conduct risk matters, aligning with FCA expectations on conduct and accountability.

Continuous Improvement:

• Identify opportunities for continuous improvement in compliance and risk management processes.
• Stay updated on regulatory changes, industry developments, and enforcement actions by UK regulators (FCA, ICO, PRA) related to collections and conduct risk, ensuring timely adaptation of internal practices.

Requirements

Success will include:

Ensure Compliance Adherence:

• Achieve a compliance audit pass rate of 95% or higher for Financial Assistance activities, in line with the FCA’s requirements for firms to demonstrate compliance.
• Maintain zero tolerance for compliance breaches or regulatory penalties by implementing robust monitoring and review mechanisms aligned with UK regulatory standards.

Enhance Risk Management Practices:

• Complete risk assessments for all Financial Assistance processes quarterly and update the risk register accordingly, considering FCA guidelines on risk management and controls.
• Implement at least two new or enhanced controls within the first year to mitigate identified conduct risks, ensuring alignment with FCA’s Consumer Duty principles.

Develop and Deliver Training Programs:

• Conduct a minimum of four training sessions per year for Financial Assistance colleagues on compliance, ethical conduct, risk management, and data protection topics, ensuring alignment with UK regulatory expectations.
• Achieve a 90% or higher employee satisfaction rate in post-training feedback surveys, with measurable improvements in staff knowledge and application of compliance principles.

Effective Stakeholder Engagement:

• Establish regular communication channels with key internal stakeholders, including monthly meetings with the Compliance, Risk, and Data Protection teams.
• Develop a collaborative relationship with external stakeholders, ensuring timely and accurate responses to regulatory inquiries from the FCA, ICO, and PRA.

Drive Continuous Improvement:

• Identify and implement at least three process improvements within the first year to enhance compliance and risk management efficiency.
• Stay informed of regulatory changes and recommend necessary updates to internal policies and procedures within 30 days of any change, ensuring proactive compliance with UK regulatory bodies.

Applicable UK Regulatory Bodies:

• Financial Conduct Authority (FCA): Regulates conduct in retail and wholesale financial markets, including debt collection practices.
• Prudential Regulation Authority (PRA): Regulates the financial stability of financial institutions.
• Information Commissioner’s Office (ICO): Enforces data protection laws such as the GDPR and the Data Protection Act 2018.
• Competition and Markets Authority (CMA): Ensures fair competition practices and may have overlapping interests in collections if anti-competitive behaviour is detected.
• Financial Ombudsman Service (FOS): Provides a dispute resolution service between consumers and financial institutions, relevant for complaints related to collections practices.

Benefits

• 25 days holiday (plus take your public holiday allowance whenever works best for you)
• An extra day’s holiday for your birthday
• Annual leave is increased with length of service, and you can choose to buy or sell up to five extra days off
• 16 hours paid volunteering time a year
• Salary sacrifice, company enhanced pension scheme
• Life insurance at 4x your salary & group income protection
• Private Medical Insurance with VitalityHealth including mental health support and cancer care. Partner benefits include discounts with Waitrose, Mr&Mrs Smith and Peloton
• Generous family-friendly policies
• Incentives refer a friend scheme
• Perkbox membership giving access to retail discounts, a wellness platform for physical and mental health, and weekly free and boosted perks
• Access to initiatives like Cycle to Work, Salary Sacrificed Gym partnerships and Electric Vehicle (EV) leasing

About us:

You may be put off applying for a role because you don’t tick every box. Forget that! While we can’t accommodate every flexible working request, we’re always open to discussion. So, if you’re excited about working with us, but aren’t sure if you’re 100% there yet, get in touch anyway.We’re on a mission to radically reshape banking – and that starts with our brilliant team. Whatever came before, we’re proud to bring together people of all backgrounds and experiences who love working together to solve problems.

Starling Bank is an equal opportunity employer, and we’re proud of our ongoing efforts to foster diversity & inclusion in the workplace. Individuals seeking employment at Starling Bank are considered without regard to race, religion, national origin, age, sex, gender, gender identity, gender expression, sexual orientation, marital status, medical condition, ancestry, physical or mental disability, military or veteran status, or any other characteristic protected by applicable law. When you provide us with this information, you are doing so at your own consent, with full knowledge that we will process this personal data in accordance with our Privacy Notice. By submitting your application, you agree that Starling Bank will collect your personal data for recruiting and related purposes. Our Privacy Notice explains what personal information we will process, where we will process your personal information, its purposes for processing your personal information, and the rights you can exercise over our use of your personal information.

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