Head of Risk and Compliance - London, United Kingdom - Openwork Ltd

Description

The opportunity:

A unique and exciting opportunity to join the business as Omnis' Head of Risk and Compliance.

Joining an established compliance team, you will be responsible for ensuring the regulatory responsibilities for the Omnis business are understood.

The position will provide the opportunity to influence right across the business and within committee and board meetings.

This position will hold FCA Senior Manager roles of Compliance Oversight (SMF16) and Money Laundering Reporting Officer (SMF17).


Key Accountabilities:


Regulation

• Omnis' regulatory responsibilities (current and expected future) are understood.
• Colleague understanding is underpinned by compliancerelated training.
• Omnis' responsibilities are supported by wellconsidered, proportionate and appropriate compliance standards and policies.
• Compliance with these responsibilities is effectively monitored (and reported on).
• The key risks to regulatory compliance are identified and mitigated (to the agreed extent).
• Omnis maintains an effective relationship with the regulator.
• The composition of Omnis Fund and OMPS portfolios is (at all times) consistent with the relevant rules (and associated documentation), investment strategy, investment policies and other agreements (and limitations).
• Omnis' investment and portfolio risk policies are consistent with the firm's obligations to investors and clients.
• The firm maintains appropriate 'first line' resource and expertise for the oversight of portfolio, liquidity and investment risk.

Risk Management

• Omnis' operational business risks are identified, reviewed and appropriately reported on.
• That Omnis' business risks are maintained at a level consistent with the agreed Risk Appetite.
• That Omnis' business is supported by a wellconsidered and structured risk management framework (with sound risk management practices and policies).
• That there is a high level of risk mindfulness across Omnis colleagues.
• The Omnis Operational Risk Committee is operating effectively (the role holder will chair these meetings).

Regulatory

• Formulate and implement effective and relevant regulatory, compliance policies and procedures.
• Maintain compliance manuals and policies.
• Review business initiatives to assess their regulatory impact.
• Support the regulatory aspects of the business oversight of activities provided by third party service providers.
• Develop, maintain and implement an effective and relevant Compliance Assurance (Monitoring) Plan.
• Develop, maintain and file all Omnis scheme documentation (e.g. Prospectus).
• Attend and advise the Omnis Board and Governance Committees on compliance, and governance matters.
• Provide technical, and compliance advice to Omnis operational, investment and product development teams.
• Maintain a thorough understanding of regulatory developments, announcements and rule changes.
• Support the initial and ongoing due diligence reviews and oversight of Investment Managers to ensure activities are delivered in accordance with the prevailing regulatory requirements, the Prospectus and Omnis policies.
• Initial and ongoing due diligence reviews and oversight of material activities delegated to other parts of the Openwork Partnership Group.
• Compliance and risk reporting to the FCA, Omnis Board and Committees, and the Openwork Partnership Group.
• Complaint analysis, recording and reporting.
• Investment and operational errors, breach reporting, root cause analysis and rectification.

Risk Management

• Formulate and implement effective and relevant risk management and procedures.
• Maintain risk documents and policies.
• Review business initiatives to assess their risk impact.
• Support the risk oversight of activities provided by third party service providers.
• Develop, maintain and implement an effective risk assessment process.
• Attend and advise the Omnis Board and Committees risk matters.
• Identify and monitor risk training requirements.
• Provide risk advice to Omnis operational, investment and product development teams.
• Support initial and ongoing due diligence reviews and oversight of Investment Managers to ensure activities are delivered in accordance operational risk expectations and Omnis risk policies.
• Support initial and ongoing risk reviews and risk oversight of material activities delegated to other parts of the Openwork Partnership Group.
• Operational risk reporting to the FCA, Omnis Board and Committees, and the Openwork Partnership Group.

What will you need to succeed?:

• A deep understanding of UK UCITS funds gained through a relevant compliance role.
• Additional UCITS operational experience is preferred.
• At least five years' Risk and Compliance function experience at a senior and responsible level (working closely with the SMF16/17) in an ACD firm.
• A broad understanding of the UK regulatory environment.
• Demonstrable expertise in derivative instruments and associa