Compliance Monitoring Analyst

West Bromwich Building Society; Highgate; On-site; GBP 60,000 - 80,000; Full time

Job summary

A financial services society in Highgate is seeking a Compliance Monitoring Analyst to assist in providing a compliance monitoring function. This role involves performing control testing and ensuring compliance within various regulatory frameworks. Ideal candidates should have experience in compliance monitoring and strong analytical skills. The position offers comprehensive benefits, including enhanced maternity leave and a pension scheme, reflecting our commitment to employee welfare.

Benefits

Holiday starting at 25 days

2 paid volunteering days

Living Pensions scheme

Enhanced maternity/paternity leave

Life assurance at 4 times salary

Yearly performance pay review

Discounted private medical insurance

Salary Sacrifice Electric/Hybrid Car Scheme

Perkbox account access

Qualifications

• Experience in compliance monitoring or risk analysis is ideal.
• Ability to handle competing priorities under deadlines.
• Previous experience in financial services quality assurance.

Responsibilities

• Conduct control tests and Customer Outcome Testing.
• Provide feedback on controls and T&C schemes.
• Prepare monitoring reports for business areas.

Skills

Control testing methodology

Analytical skills

Communication skills

Multi-tasking

Education

IFS/ICA qualification

Job description

We have a fantastic opportunity for someone looking to join us as a Compliance Monitoring Analyst. As a Compliance Monitoring Analyst you will assist the Compliance Monitoring Manager and the Head of Compliance & Money Laundering Reporting Officer in providing the Society with a compliance monitoring function as a 2nd line of defence, carrying out control testing, Customer Outcome/Journey testing and T&C scheme/Quality Assurance Monitoring across a number of first line regulated activities. A key part of the role will be to provide feedback to stakeholders regarding the design, implementation and effectiveness of controls, T&C schemes and Quality Assurance programmes to ensure good customer outcomes are delivered by the Society as part of effective legal & regulatory (compliance) risk management.

Responsibilities and Duties

• Perform control tests, Customer Outcome Testing, T&C scheme and Quality Assurance checks against a range of Regulatory Risks as part of the implementation of the Compliance Monitoring Plan.
• Provide effective feedback to business stakeholders regarding the identification of risks and the design, implementation and effectiveness of controls, T&C schemes and Quality Assurance activities.
• Provide recommendations to enhance risk management and ensure compliance with relevant regulations (including Consumer Duty Customer Outcome Requirements).
• Recommend additions to the Compliance Monitoring Plan to ensure Regulatory Risk and Consumer Duty obligations are effectively managed.
• Analyse and interpret a range of internal and external information (such as risk universe data and regulatory requirements).
• Identify risk trends.
• Prepare and issue monitoring reports to business areas where a second line activity has taken place.
• Ensure outstanding actions are completed by the relevant business areas.

Qualifications and Experience

• The ability to apply control testing /compliance monitoring/customer outcome testing methodology across a range of regulated activities.
• The ability to multi-task as deadlines require several activities to be carried out at the same time and often with competing priorities.
• Good analytical and assessment skills.
• Excellent social and communication skills and the ability to establish close and co-operative working contacts throughout the business including Senior Management.
• Ideally have risk analyst/compliance monitoring experience.
• Have previous experience in general financial services quality assurance.
• A relevant IFS/ICA qualification or a willingness to work towards achieving such a qualification would also be desirable.

Benefits

• Holiday starting at 175 hours (25 days) plus bank holidays that grow with your time with us and the opportunity to buy or sell up to 5 days holiday each year.
• 2 paid volunteering days a year.
• Living Pensions: Pension scheme starting at 5% contribution from you and 7% contribution from us, and we'll match your further contributions up to 10.6%.
• Enhanced maternity, paternity and adoption leave with paid fertility treatment, neonatal and pregnancy loss leave.
• Life assurance provided by the Society at 4 times your salary.
• Yearly performance related pay scheme and pay review.
• Private medical insurance that's discounted when your time with us grows, with the option to include family members.
• Salary Sacrifice Electric/Hybrid Car Scheme.
• A Perkbox account – giving you 24/7 access to perks, benefits, discounts, wellbeing tools and loads more.
• And much more, from flexible working options, wellbeing support and a whole heap of warm West Bromness.

We are a Disability Confident Leader and encourage disabled applicants and all from diverse backgrounds to apply. We'll do what we can to adjust our recruitment journey and offer a guaranteed interview to disabled applicants who meet what we're looking for. If you need any support with applying to one of our roles, get in touch at [e-mail].