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The overall focus will be to continually enhance the effectiveness of execution and standards of banking practices. The role will involve close collaboration with the Compliance Department, Head of Credit Risk and other Quality Assurance functions within the bank, to ensure appropriate identification and management of Compliance and Regulatory risks.
Duties and responsibilities:
The role will be responsible for mitigating regulatory risk through first line defence within the relevant lending laws, regulation and industry codes as well as internal lending policies and procedures.
Develop, implement and maintain a high quality monitoring program to ensure risk-based coverage, meaningful analysis and specific actionable recommendations with a focus on FCA regulated mortgage advice and CONC regulations.
Apply the same high principles in the bank's approach to unregulated lending.
Support and advise the various Back and Front Office department functions by being a central reference point in regard to MCOB and CONC regulations, through maintaining an exceptionally high level of regulatory and banking knowledge
Completion of desk based monitoring of regulated and unregulated lending at various stages in the lending process – an integral part of the sign off process.
Completion of customer file reviews to determine FCA compliance, particularly in relation to conduct of business and internal procedures for mortgages.
Preparation of monitoring and feedback reports setting out results and any required resolution;
Supporting the department with any general compliance enquiries and liaising with the Compliance department when necessary.
Maintain an in-depth knowledge of developments in the banking sector, industry best practice and regulatory developments to design and promote an environment with leading-edge risk management practices and tools.
Identifying and helping deliver the compliance / regulatory training needs and requirements of staff.
Contribute to the Bank's Risk and Banking Committees with preparation of QA reports and MI.
Previous experience necessary:
Proven track record in conducting regulated lending and banking monitoring and assurance work in a senior quality assurance (QA) or senior regulated lending role. Experience in leading credit or QA focussed projects - good understanding of lending documentation
Broad technical knowledge in the areas of lending, loan security, bespoke non-standard security documentation, regulated mortgage contracts and Consumer Credit Act.
Experience in analysing and aligning policies and processes to an organisations strategic goals, and being able to identify knowledge and process gaps.
Extensive credit, supervision and risk management experience.
Regulatory environment experience with sound understanding of the UK regulatory framework (MCOB & CONC), specifically in an experienced QA capacity and with lending documentation.
Experience of working in a first line of defence role.
Collaborative leadership skills.
A good working knowledge of banking industry developments including legislative and regulatory change.
Must hold a relevant industry qualification i.e. CeMap or equivalent.