Head of Compliance & MLRO

Northern LGPS; Manchester; Hybrid; GBP 120,000 - 170,000; Full time

Job summary

Northern LGPS is establishing an FCA authorised investment management company to manage around £70bn of assets. We seek a Head of Compliance and MLRO to design and oversee a robust compliance and AML/CTF framework and lead the compliance function.

Reporting to the Chief Risk Officer, you’ll provide independent second-line oversight, advise the Board, ensure regulator engagement and promote a culture of integrity across the organisation.

Qualifications

• Deep knowledge of UK asset management regulatory framework.
• Ability to provide credible compliance and economic crime oversight at Board level.
• Capability to lead effective compliance and AML/CTF frameworks.

Responsibilities

• Establish, maintain and oversee Northern LGPS’s compliance framework, policies and risk-based Compliance Monitoring Plan.
• Lead compliance monitoring, breach management and attestations, providing report to executive team, Board and committees.
• Advise Board on regulatory change, compliance risk and UK asset management framework.
• Support engagement with the FCA and other regulators, including SMR requirements.
• Oversee conduct rules and training to promote integrity and compliance.
• Design and oversee AML/CTF systems, risk assessment, monitoring and reporting.
• Act as nominated MLRO, assess SARs and report as needed.
• Prepare annual MLRO report and advise on economic crime risks and controls.
• Oversee outsourced Compliance and Economic Crime services and coordinate assurance with Internal Audit.
• Lead and develop the compliance team and set objectives.

Skills

UK regulatory framework

AML/CTF implementation

MLRO duties

Board advisory

Regulator liaison

Leadership

Job description

Shape the compliance and economic crime framework for a new investment management company

Northern LGPS is entering an important new phase of its development, establishing an FCA authorised investment management company to manage around £70bn of assets on behalf of three Local Government Pension Scheme funds. As Head of Compliance and Money Laundering Reporting Officer (MLRO), you’ll play a pivotal role in establishing an effective compliance and economic crime framework for the organisation.

Reporting to the Chief Risk Officer, you’ll lead the Compliance and Economic Crime functions, provide independent second-line oversight and act as a trusted adviser to the Board and executive team. As the designated SMF16 and SMF17, you’ll also play a central role in Northern LGPS’s regulatory relationships and help embed a strong culture of compliance and integrity.

About Northern LGPS

Northern LGPS is a c£70bn pooled investment partnership for the Local Government Pension Scheme, bringing together the investments of Greater Manchester Pension Fund, Merseyside Pension Fund and West Yorkshire Pension Fund.

Building on the foundations of its collaboration over several years, Northern LGPS is now entering the next phase of its development. This phase focuses on establishing an FCA authorised investment management company with a dedicated senior leadership team; strengthening governance and creating a clear operating model to support long-term investment outcomes.

For those joining at this stage, the opportunity is exceptional. These roles offer the chance to shape strategy, set standards and build leadership capability for the long term, working closely with the partner funds, who are both shareholders and clients, Boards and regulators to ensure Northern LGPS continues to evolve as a well-governed, resilient investment organisation.

Our culture

As Northern LGPS continues to evolve, we are building a collaborative, open and trusting organisation where people can do their best work.

We believe strong outcomes come from working together, sharing knowledge and supporting one another. Our flexible and hybrid working arrangements give colleagues greater flexibility in how they manage their time, while supporting collaboration and colleague wellbeing.

We are developing a supportive learning culture where people are encouraged to grow, contribute ideas and help shape how the organisation works. Our ambition is to build a resilient and sustainable organisation that delivers for its Partner Funds over the long term.

Main responsibilities

You’ll:

• Establish, maintain and oversee Northern LGPS’s compliance framework, policies and risk-based Compliance Monitoring Plan.
• Lead compliance monitoring, breach management and attestations, providing clear reporting and insight to the executive team, Board and committees.
• Advise the Board and executive team on regulatory change, compliance risk and the application of the UK regulatory framework for asset management.
• Support engagement with the Financial Conduct Authority (FCA) and other regulators, including regulatory correspondence and Senior Managers and Certification Regime requirements.
• Oversee conduct rules and compliance training and help promote a culture of integrity and compliance across the organisation.
• Design and oversee anti-money laundering and counter-terrorist financing (AML/CTF) systems and controls, including risk assessment, monitoring, escalation and reporting.
• Act as the nominated MLRO, assessing internal suspicious activity reports and determining appropriate action, including reporting to relevant authorities where required.
• Prepare the annual MLRO report and advise the Board and senior management on economic crime risks, emerging threats and the effectiveness of controls.
• Oversee outsourced Compliance and Economic Crime services and coordinate assurance and remediation activity with Internal Audit.
• Lead and develop the compliance team, setting objectives and supporting professional development.

What we’re looking for

This role requires deep knowledge of the UK regulatory framework for asset management and the ability to provide credible compliance and economic crime advice and oversight at Board and executive level.

You’ll need the capability to lead effective compliance and AML/CTF frameworks, engage with regulators and law enforcement agencies, and discharge the responsibilities associated with the SMF16 and SMF17 functions.

Location

You can be based at any of our offices in Bradford, Manchester or Liverpool.

Hours of work

37 hours per week, Monday to Friday.

Flexible and hybrid working

Northern LGPS offers flexible and hybrid working arrangements, alongside a commitment to colleague wellbeing.

Sponsorship

We are unable to offer sponsorship for this role.

We reserve the right to close this vacancy early should we receive a sufficient volume of suitable applications.

Equal opportunities

We are an equal opportunities employer and welcome applications from all suitably qualified candidates, regardless of age, disability, gender reassignment, marriage or civil partnership, pregnancy or maternity, race (including colour, nationality, and ethnic or national origin), religion or belief, sex, or sexual orientation.

We are committed to creating an inclusive environment where everyone feels valued, respected, and able to thrive. If you require any adjustments to the recruitment process to support your application, please let us know, and we will work with you to meet your needs.