Risk & Compliance Lead, Shoal Venture - Sc Ventures - London, United Kingdom - eFinancialCareers

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London, United Kingdom

3 weeks ago

Tom O´Connor

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Tom O´Connor

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Description

About SHOAL

Through our bank accounts and pensions, many of us may inadvertently have invested in fossil fuels, deforestation or other climate-destructive industries and practices which we would prefer not to fund.

In fact, one of the most powerful tools that each of uscan deploy to protect the planet is to actively consider where our money is going and how it is used.

But ESG financial products can be difficult to understand, access and manage.

We are building SHOAL, an ESG-focussed marketplace that will help UK retail customers find the very best sustainable financial products.

We are starting with a sustainable time deposit that we are bringing to market with collaboration from Standard CharteredBank and Starling Bank.

Our journey begins as an unregulated offering, but we are looking to expand our product offering into green debit and/or credit cards, green loans, green investments and more - which will require us to be FCA authorised and is a keyfocus of this role.

SHOAL is an early-stage start-up using fintech to achieve significant growth, backed and funded by SC Ventures (SCV), the innovation unit of Standard Chartered Bank.


Who are we looking for?

We are looking for a
Risk & Compliance Lead for SHOAL to be based in the UK who is hands on, proactive and able to fulfil the below criteria.


Role Responsibilities

Compliance:


  • Lead the provision of technical compliance advisory services and provide guidance on UK retail financial services regulation including consumer credit matters (where relevant) and data protection and financial crime matters
  • Undertake the role of Data Protection Officer and act as MLRO if required
  • Liaise with regulators on regulatory compliance matters, maintaining an effective and open relationship with the regulators and managing all regulatory enquiries and reviews, including reporting, notification and enforcement matters.
  • Design and implement sufficient compliance monitoring frameworks suited to Shoal's "arrangerstyle" business model and resources to ensure compliance with UK regulations and support business growth and expansion in existing and new markets.
  • Develop and implement SHOAL's Compliance policies and procedures to ensure compliance with applicable law, balancing the lean staff and fast pace of a startup with the requirements of our regulated partners.
  • Proactively work and cooperate with SHOAL team members and SHOAL's partners to ensure that the Group's objectives are achieved, and regulatory compliance risks are mitigated.
  • Conduct regulatory research, track new or revised regulations and implement internal policies, procedures and processes to ensure ongoing compliance with all applicable laws and regulations. Develop a regulatory horizon scanning framework in conjunctionwith our General Counsel.
  • Advise and support the business on all compliance matters and ensure the business is in alignment with license and permissions requirements in the UK and ultimately globally, and in compliance with applicable laws and regulations.
  • Conduct assessments and reviews on the adequacy and relevance of regulatory and compliance strategies, policies and frameworks, and oversee enhancements to address control deficiencies.
  • Conduct investigations into potential noncompliance incidents. Support the resolution of regulatory incidents, providing insight and support on approach to investigation, response and remediation if and when required.
  • Implement and conduct regular compliance training programs on an ongoing basis to educate staff on the relevant regulatory developments, compliance policies and procedures.
  • Timely and proactively escalate issues resulting from compliance monitoring, resolution tracking and periodic management/board reporting on compliance risks.

Risk:


  • Lead and oversee the periodic enterprise risk assessment exercise, and work as part of the Senior Management Team to formulate of the proposed Board risk appetite statement.
  • Establish, maintain and/or implement risk strategies, policies, processes, guidelines, performance metrics and monitoring systems to detect and prevent potential abuse and vulnerabilities.
  • Embed Top Risks in metrics and ensure those risks are managed within the business.
  • Provide practical implementation guidance to enable Risk staff to implement policies and procedures in an effective manner.
  • Help embed a culture of effective Risk Management within the daytoday operation of the business
  • Monitoring to ensure business activities and operations (and going forward global entities within the group) are operating within acceptable risk tolerance.
  • Help deliver 'effective governance' capability to educate and challenge colleagues effectively; and willingness to work in an open and cooperative manner with all.

Leadership Skills:


  • Ability to partner with other senior business and risk function management, including within the Shoal Management Team and the SCB Group.
  • Ability to present to the SHOAL Risk Committee and Board on matters relating to Risk and Compliance.

Technical Skills - Retail financial services compliance experience is highly desired

  • You will need an indepth understanding of the UK financial services's regulatory environment and good familiarity with relevant PRA rules and the FCA Handbook
  • You have experience in the management of conduct and regulatory risks, including the design and implementation of frameworks and demonstrated competence in developing regulatory compliance monitoring and horizon scanning frameworks A strong understandingof risk management principles, especially in relat
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