Compliance Manager

This Head of Compliance role seeks regulatory compliance experience gained in a trading or energy business, join a well established Compliance function and have the opportunity to build out your own team, London based.

Client Details

This Compliance Manager role is based in London and support the Generation and Trading businesses for an international energy business. The business carries out physical and financial derivative trading. The business is very well established with a good market share, it is forward thinking and innovative. Join a well structured compliance team and have the opportunity to develop and build your own team.

Description

This Compliance Manager role is based in London and covers:

• Supporting our licence to operate: worst case regulatory penalty c. £150M, company sanctions and business reputation risk

• Span of responsibilities includes the Markets in Financial Instruments Directive II (MiFID II), European Market Infrastructure Regulation (EMIR), Market Abuse Regulation (MAR), Regulation on Energy Market Integrity and Transparency (REMIT) and our regulatory status under the Financial Services and Markets Act (FSMA) and Regulated Activities Order (RAO)

• One or two direct reports, with potential for expansion based on business needs

• Responsibility covers financial regulation (Financial Conduct Authority) and energy (Ofgem and ACER)

• Detailed interactions with:
• Trading, Commercial, Risk and Treasury teams
• Group Legal, Strategy, Regulatory Policy and Corporate Compliance teams
• Corporate Affairs SLT
• Currency and Commodity Risk Management Committee and Group Operational Risk Management Committee

Key Responsibilities:

• Lead development and delivery of wholesale market (physical and financial) regulatory compliance strategy

• Take responsibility for delivery of consistent advice, guidance, training and assurance on existing and forthcoming obligations within the wholesale market regulatory framework (e. including REMIT, MiFID, EMIR, MAR, FSMA, etc.)

• Oversee activities in relation to industry licence and code compliance (e. generation licence, gas shipper licence, BSC/CUSC/Grid Code)

• Determine and co-ordinate appropriate risk mitigation actions across DPL teams and, where appropriate, across Group business units

• Provide assurance to the Group that processes and behaviours are compliant and that the associated control regime is effective

• Lead and develop our market surveillance activities to ensure we identify, escalate and report potential issues in a timely manner

• Ensure an effective strategy is implemented where compliance deficiencies are identified

• Presenting internal status reports to our risk committees and management boards

• Lead/advise internal change programmes to ensure processes, systems and capabilities are developed in line with regulatory compliance requirements

• Develop close working relationships with regulators at a senior level to ensure Group is trusted and able to engage in positive discussions relating to compliance positions

• Lead the development of responses to Requests For Information (RFIs), market conduct investigations and regulatory reporting

• Represent the Group and build relationships at external events, including trade body committees

Profile

This Compliance Manager role is based in London and requires:

• Educated to degree level with extensive relevant experience operating at this level
• Likely to have been in a senior role within an energy company with a financial trading capability or a FCA regulated trading company
• Detailed knowledge of regulation in relation to wholesale physical and financial markets and experience of managing a team of specialists
• Autonomous worker willing to take responsibility for their own decisions and challenge senior management as a champion of best compliance practice
• Solid understanding of MiFID II, MAR, EMIR, REMIT, FSMA and RAO
• Working knowledge of the energy market and awareness of the risk of getting it wrong (implications/sanctions)
• Operates at senior management level
• Ability to cut through complexity to identify principal impacts and practical options
• Able to communicate complex issues simply and concisely
• Proven negotiating and influencing skills
• Effective leadership of specialist professional teams

Job Offer

Please enquire for full details