Compliance Monitoring & Testing Officer

Purpose of the Job

Quintet Private Bank is a leading private bank in the wealth management sector. We are committed to our clients and their families, and pride ourselves on our personalised service based on a deep understanding of what clients want to achieve. Compared to others, we are small (<2,000 employees across 50 European and UK locations) with an ambition to stay true to our purpose to be the most trusted fiduciary of family wealth. When you join Quintet you are joining a company that values diversity of background, equal access to opportunities, career development, collaboration and inclusiveness. We want our employees to feel proud of being part of a company that is committed to do the right thing. You will have the opportunity to grow your career while developing personally and professionally through various resources and programmes.

The Compliance Monitoring Officer (CMO, Director) will play a very important role in the delivery of the firm’s compliance monitoring programme, ensuring that the monitoring tests assigned to them are delivered on time and to a high standard. They provide clear direction to the 1st line of defence; supporting their closure of any gaps in the current operating state through agreed actions and deadlines. This role requires orderly and complete record keeping in alignment with the Compliance Monitoring Specification (or framework) to help provide positive assurance of the firms’ compliance with its regulatory and legal obligations. 

The Compliance Monitoring Officer (Director) is a role model and mentor to other colleagues in the Monitoring Team, providing quality assurance review input and assistance to other colleagues during testing and the preparation of management reports. In addition, the role holder will have delegated responsibility for supporting compliance monitoring delivery, as required, to support the Head of Compliance in the location / Group Head of Monitoring & Testing.  

Key Accountabilities

• Completing monitoring reviews - including thematic or desk-based reviews - to ascertain the firms’ compliance with its regulatory and legal obligations – and in accordance with the schedule. 
• Responsibility for the full review cycle, working cooperatively and positively with colleagues across the business, with a focus on delivering good outcomes. 
• Maintaining excellent record keeping in line with the Compliance Monitoring Specification – including correct use of test folders and version control which produce orderly records for inspection by third parties. 
• Engagement with stakeholders pre and post testing; including information gathering and supporting and verifying any actions proposed. 
• Providing quality assurance input and practical support and advice to during testing, as required. 
• Support management in the preparation of management reports.  Manage process to ensure that reporting happens on time and to a high standard.  
• Assume delegated responsibility for supporting assigned aspects of compliance monitoring delivery as required to support of the Head of Compliance / Group Head of Monitoring & Testing. 
• Ensure prompt issue (compliance and/or risk) escalation where compliance monitoring or other work or interaction with the business necessitate including updating the firms registers to reflect this.   
• To work with skill, professionalism and discretion befitting a member of the Compliance Department maintaining independence and integrity of thought and action necessary to work within a second line of defence.  
• Support the continuous improvement of the Compliance Monitoring Specification and review methodology. 
• Carry out other duties as reasonably expected of the role and required by the Head of Compliance / Group Head of Monitoring & Testing. 

Knowledge and Experience

• Good working knowledge of the relevant regulations that are likely to apply to the firm, which include; investment management, wealth planning and lending. For example, Market Abuse rules, Client money and assets, and product governance. 
• Familiarity with Financial Standards Authorities, and their interaction with legislation. 
• Ideally, experience of delivering and/or assessing delivery of, the regulation in testing which can include, data analysis, Client file reviews, control testing, interviews, work in motion studies. 
• Delivering regulatory change or providing Compliance advise within a firm which focused on evidencing compliance, supporting the business and delivering appropriate client outcomes. 
• Understanding the 3LOD model and insight as to how to deliver an effective 2nd Line of defence through assurance.  

Attributes and Qualities

• Ability to engage people effectively, when engaging with business colleagues and in supporting colleagues in their compliance monitoring work.  
• Ability to understand regulatory text – regulation, directive, guidance – and understand its intent and practical applications. 
• Excellent business writing skills, particularly the ability to summarise at high level as-well-as explain detail findings clearly and concisely. 
• Ability to apply root cause analysis to findings in order to create effective, proportionate and impactful actions. 
• Excellent record keeping - use of ascribed folders, naming conventions, dating and version control – required to create lasting and robust records which the senior managers can rely on in accordance with the Compliance Monitoring Specification.  
• Effective diary and work management. 
• Principled – held as an exemplar for conduct and behaviour which holds honesty and integrity at its core. 
• Record of Maintaining ongoing accreditation with a recognized industry body is a plus
• Role may require some travel between Quintet locations. 

Technical Skills

• Familiarity with Policy and procedures impact analysis and deployment. 
• ML/FCC qualifications preferred. 
• A graduate in any discipline with exposure in a relevant risk or audit profile. 
• Experience in establishing and maintaining risk and controls framework for  ML/CTF, Sanctions, ABC, Fraud, tax evasion risks. 

Languages Skills

• Proficient in English required  
• Intermediate knowledge of other Quintet languages (particularly French / Dutch / German) is preferred