UK Compliance Director

RiverStone International; United Kingdom; Remote; GBP 140,000 - 180,000; Full time

Benefits offered by this job

Private Medical and Dental

Health and Wellness benefits

25 days holiday

Pension plan

Life Assurance

Job summary

RiverStone International seeks an experienced Compliance Director to lead the UK compliance function for RiverStone UK, reporting to Group Compliance and acting as SMF16 and SMF17. The role requires credibility with boards, regulators and senior stakeholders, and ongoing governance across regulatory risk, monitoring and financial crime.

The successful candidate will manage a lean team, embed a pragmatic risk-based approach, and drive regulatory change across PRA, FCA and Lloyd's environments

Qualifications

• Acting as Head of Compliance in a PRA/FCA regulated insurance environment.
• Experience delivering SMCR governance, fitness & propriety processes, and board reporting.
• Strong regulatory judgement with ability to interact credibly with regulators, boards and senior management.

Responsibilities

• Lead the RiverStone UK Compliance function as an independent second line of defence.
• Develop and execute the UK Compliance strategy, objectives and priorities.
• Maintain a robust Compliance framework aligned with UK regulation and Group standards.
• Foster a strong compliance culture and effective communication across the organisation.
• Build relationships with business leaders, SMFs and Group stakeholders, and develop the team.

Skills

UK insurance regulation

Regulatory risk management

Board communication

Lloyd's experience

Leadership

SMF16/SMF17

Job description

RiverStone is seeking an experienced and commercially minded Compliance Director to lead the Compliance function for RiverStone’s UK insurance activities, comprising the operations of RiverStone Insurance (UK) Limited and RiverStone’s Lloyd's Managing Agency (collectively, “RiverStone UK”).

The Compliance Director is responsible, working in conjunction with RiverStone’s Group Compliance function, for maintaining an effective and independent second-line Compliance framework that supports compliance with PRA, FCA and Lloyd's requirements, while enabling the business to achieve its strategic objectives through pragmatic, risk-based regulatory advice and oversight.

The role holder will serve as both the approved SMF16 (Compliance Oversight) and SMF17 (Money Laundering Reporting Officer), with responsibility across the full spectrum of Compliance and financial crime activities, including regulatory risk management, compliance monitoring, regulatory engagement, governance, financial crime oversight, conduct and complaints oversight, and regulatory change management. These objectives will be delivered through a combination of UK-dedicated and Group functional resources, in accordance with an agreed target operating model.

The role requires an individual capable of operating credibly with UK Boards, Executive Committees, regulators and senior stakeholders, while leading an effective local Compliance team, coordinating with the Group function and maintaining close oversight of key regulatory risks and obligations. Particular emphasis will be placed on fostering a strong culture of integrity and accountability, positioning Compliance as a trusted business partner, and supporting the business through an evolving operating environment.

The role is intentionally designed as a lean senior leadership position, supported by a small team structure. As such, the successful candidate must be comfortable operating without reliance on large supporting teams and must be capable of independently driving delivery across both strategic and operational Compliance activities where required.

The successful candidate will be expected to combine:

• senior executive presence and Board-level credibility;
• deep knowledge of UK insurance regulation and financial crime requirements;
• experience operating within PRA-, FCA- and Lloyd's-regulated environments;
• strong regulatory judgement and leadership capability; and
• the ability to balance effective challenge with pragmatic commercial support.

Responsibilities

Compliance Leadership & Function Management

• Lead and manage the RiverStone UK Compliance function, ensuring it operates as an effective and independent second line of defence.
• Develop and execute the UK Compliance strategy, objectives and annual priorities.
• Maintain a robust Compliance framework that is aligned to UK regulatory requirements and Group standards.
• Foster a positive compliance culture across the organisation through leadership, engagement and effective communication.
• Build and maintain strong working relationships with business leaders, SMFs, control functions and Group stakeholders.
• Lead, coach and develop members of the Compliance team.
• Support RiverStone's continued growth and evolution by providing practical, risk-based regulatory guidance and oversight.

SMF16 Compliance Oversight Responsibilities

• Fulfil all regulatory obligations associated with the SMF16 Compliance Oversight function.
• Establish, maintain and oversee an effective UK Compliance framework aligned with the overall Group Compliance framework.
• Advise the UK Board, Executive Committee and Senior Managers on regulatory obligations and compliance risks.
• Maintain a comprehensive, risk-based Compliance Risk Assessment covering all applicable legal and regulatory requirements.
• Lead the identification, assessment and escalation of compliance risks and control weaknesses.
• Maintain effective horizon scanning arrangements to identify emerging regulatory developments and assess business impact.
• Oversee implementation of regulatory change requirements and support business readiness activities.
• Support the operation of the Senior Managers & Certification Regime (“SMCR”), including fitness and propriety assessments, Statements of Responsibilities and Maintenance of the Management Responsibilities Map.
• Maintain oversight of conflicts of interest, conduct risk, whistleblowing arrangements, policy governance and regulatory training programmes.
• Ensure effective oversight of third-party and outsourcing arrangements from a Compliance perspective.

SMF17 Financial Crime Responsibilities

• Fulfil all regulatory obligations associated with the SMF17 Money Laundering Reporting Officer function.
• Maintain and oversee RiverStone UK’s Financial Crime framework, including anti-money laundering, sanctions, anti-bribery and corruption, fraud and related financial crime controls, within the overall Group Compliance framework.
• Establish relevant financial crime policies, standards, risk tolerances and escalation requirements consistent with the framework.
• Review and assess financial crime escalations and significant investigations.
• Maintain effective Suspicious Activity Reporting processes and fulfil statutory reporting obligations where required.
• Lead the production of the annual MLRO Report and associated Board reporting.
• Own and maintain the Business-Wide Risk Assessment (“BWRA”).
• Provide UK oversight of customer due diligence, sanctions screening, politically exposed person (“PEP”) processes and adverse media arrangements.
• Monitor financial crime regulatory developments and ensure effective implementation of changes.

Regulatory Engagement & Regulatory Affairs

• Act as RiverStone UK’s principal Compliance contact for the PRId FCA and Lloyd's, in conjunction with the UK CEO.
• Maintain constructive, transparent and professional relationships with regulators.
• Coordinate regulatory notifications, submissions and responses to regulatory enquiries.
• Lead UK Compliance input into regulatory reviews, inspections and thematic assessments.
• Provide regulatory guidance to senior management on the implications of new and emerging regulatory requirements.
• Coordinate with Group Compliance on material regulatory matters and issues impacting multiple jurisdictions.

Compliance Risk, Monitoring & Assurance

• Develop and maintain a risk-based UK Compliance Monitoring Plan aligned to regulatory risk assessments.
• Oversee compliance monitoring, testing and thematic review activities.
• Ensure findings are effectively reported, tracked and remediated in a timely manner.
• Provide independent assurance to the UK Boards and Executive Management regarding the effectiveness of key compliance controls.
• Maintain oversight of complaints management arrangements and review escalated complaints as required.
• Ensure meaningful management information is produced to support effective decision-making and risk management.

Governance & Board Reporting

• Produce high-quality reporting for the UK Boards, Executive Committee and relevant governance forums.
• Prepare and present the annual MLRO Report, Whistleblowing Report and other governance reporting as required.
• Escalate significant regulatory risks, breaches and control concerns appropriately and in a timely manner.
• Support effective governance through clear articulation of risks, emerging trends, remediation activity and regulatory developments.
• Ensure regulatory risks and compliance issues are accurately reflected within UK Board and Committee reporting.

Policy Governance, Regulatory Change & Training

• Maintain UK Compliance policies, standards and procedures, ensuring they remain aligned with applicable regulatory requirements and the Group’s overall approach to policy maintenance.
• Support the periodic review and approval of Compliance-related policies and standards.
• Contribute to Group-wide policy governance and policy refresh activities.
• Maintain UK Compliance operating procedures and supporting documentation.
• Lead Regulatory Horizon Scanning activities and maintain oversight of regulatory change initiatives.
• Deliver and oversee Compliance training and awareness programmes tailored to UK regulatory requirements.

Strategic Advisory & Business Partnership

• Provide Compliance advice and challenge in relation to strategic initiatives, acquisitions, business change and operational developments.
• Support business leaders in identifying practical and proportionate solutions to regulatory issues.
• Act as a trusted adviser to the UK Boards, Committees and Senior Management on regulatory strategy, governance and conduct matters.
• Promote a culture where Compliance is viewed as a valued business partner and enabler of good customer and regulatory outcomes.

Requirements

Essential Experience

• Acting as Head of Compliance, Compliance Director, Chief Compliance Officer or equivalent within a PRA and FCA regulated insurance environment.
• Holding, or being assessed as suitable to hold, SMF16 and SMF17 responsibilities.
• Leading Compliance functions within insurance, reinsurance or Lloyd's market organisations.
• Significant experience designing, implementing and operating Financial Crime frameworks and MLRO responsibilities.
• Managing regulatory relationships with the PRA, FCA and Lloyd's.
• Delivering Board, Executive Committee and governance reporting.
• Operating Compliance Monitoring and Assurance programmes.
• Supporting SMCR governance and Fitness & Propriety processes.
• Providing strategic regulatory advice to senior management and Boards.
• Leading and developing Compliance teams within complex regulated environments and in the context of an overall regulated Group.

Highly Desirable Experience

• Within the Lloyd's market and managing agency environment.
• Supporting insurance acquisitions, portfolio transfers and other strategic transactions.
• Operating within international insurance groups.
• Managing Compliance within a run-off or legacy insurance business.
• Implementing technology-enabled governance, risk and compliance solutions.
• Working within evolving or transformation-led organisations.

Personal Attributes

• Highly credible with regulators, Boards and senior stakeholders.
• Strong leadership, influencing and stakeholder management skills.
• Commercially aware and pragmatic while maintaining independence and objectivity.
• Excellent judgement and risk-based decision-making capability.
• Strong verbal and written communication skills.
• Ability to distil complex regulatory requirements into practical business actions.
• Collaborative and relationship-focused leadership style.
• Resilient, adaptable and effective within evolving and dynamic business environments.
• Committed to maintaining the highest standards of integrity, professionalism and conduct.

Benefits

We believe in taking care of our team and helping our employees thrive both professionally and personally.

Our benefits include:

• Private Medical and Dental cover – Comprehensive Private Medical and Dental Insurance schemes with Bupa
• Health and Wellness –including access to our Employee Assistance Programme, Headspace
• subscription, Mental Health First aiders at each site, up to five funded counselling sessions per year,
• annual health check-up and eye test voucher
• Wellbeing Allowance – Can be used towards either physical or mental health wellbeing activities
• 25 days’ holiday per year – plus bank holidays and office closure on Christmas Eve. Holiday
• entitlement increases with length of service
• Bonus scheme – dependent on achieving individual, department and company goals
• Pension – a non-contributory defined contribution pension scheme
• Life Assurance – provides a lump sum 10 x your salary
• Permanent Health Insurance Scheme – scheme pays benefits during a prolonged period of illness or disability lasting more than 26 weeks
• Parental Leave – Enhanced Maternity, Paternity and Shared Parental Leave policy
• Training and development – Company funding for professional qualifications that would be beneficial for your role
• Volunteering and charity – triple matching donations made independently or via our Give As You Earn scheme, Give A and two paid volunteering days per year to help give back to our local communities
• Cycle To Work Scheme – a tax efficient way to purchase a bicycle
• Interest Free Travel Loan – to assist with commuting costs
• Travel Insurance – business and personal travel
• Sports and Social – active sports and social committee that organizes subsidised events

Working hours

Our standard working hours are from 09.30 a.m. to 5.30 p.m. Full time employees are to be in the office for 3 days per week, with 2 days working from home.

RiverStone is proud to be a Disability Confident Employer. We are committed to providing an inclusive and accessible recruitment process and welcome applications from individuals of all backgrounds and abilities. Should you require any reasonable adjustments at any stage of the recruitment process, please let us know and we will work with you to support your needs.