Regulatory Specialist

  • Post Date: June 9, 2023
  • Isle of Man
Job Description

As Regulatory Specialist you will be responsible for providing Customer Services with expert advice (SME) and monitoring to ensure compliance with all applicable, current regulation and reporting standards with a particular focus on FATCA and CRS. Maintain an in-depth knowledge of CS processes and provide horizon scanning for upcoming changes in applicable regulation across all jurisdictions to provide technical support to CS projects. Act as a main point of contact with 2nd Line Risk and Compliance and IA functions.

Role Responsibilities:
– Responsible for delivery of expert regulatory advice to the Customer Services Teams on all applicable regulations in all jurisdictions and the reporting and assessment of regulatory breaches
– Lead the delivery of 1st line monitoring of all CS regulatory controls, including AEOI, FATCA and CRS ensuring there are effective actions addressing the underlying causes of any problems identified. Provide CS Senior Leadership Team (SLT) with assessment reports & recommendations in respect of risk-based monitoring and testing.
– Responsible for producing high quality and insightful management reporting in respect of the oversight of regulatory controls and business activities, providing input, review and challenge to the status of regulatory Risks as part of the Risk & Control Self-Assessment process
– Responsible for implementing, maintaining and growing the relationship with the 3rd party provider of the reporting tool to ensure accurate annual submissions for AEOI, FATCA and CRS to the relevant tax authorities, resolving issues identified with data or reporting for annual submissions
– To develop and maintain strong interpersonal skills and in-depth knowledge of all applicable regulations, business products, services and processes with particular focus on AEOI/FATCA/CRS
– Responsible for designing and delivering training for CS Colleagues on the regulations and compliance obligations relevant to their work and ensure assessment of understanding is in place and reported

Skills & Experience Required:
– Recognised industry/professional qualification (e.g. Certificate in Compliance, Financial Planning Certificate) – Desirable
– In-depth knowledge working in the financial services industry together with expertise in relevant regulations and managing regulatory risks. Breadth of knowledge across multiple areas of regulation required (including FCA, FSA and CBI Handbooks, FATCA/CRS and Data Protection).
– Experience in designing and implementing 1st line monitoring and oversight with minimal supervision, including creating, getting approval for, and delivering plans.
– Ability to present advice in a clear, timely and focused way.
– Excellent analytical and report writing skills.
– Ability to interpret the intended outcomes of regulatory rules, principles and guidance and drive pragmatic solutions/change balancing regulatory requirements, cost/benefit, customer impact with business needs.
– Ability to take a risk-based approach to organising workloads for self to meet demanding and often changing priorities, ensuring that key deadlines are met.
– Strong interpersonal, influencing and stakeholder management skills up to and including senior/executive management level
– Ability to develop and maintain effective working relationships with colleagues, Business Unit leadership teams and other governance functions.
– Ability to think clearly under pressure using sound judgement to inform decisions or guidance provided.