Regulatory Compliance Manager

About Allica Bank

Allica is the UKs fastest growing company - and the fastest-growing financial technology (Fintech) firm ever. Our purpose is to help established SMEs one of the last major underserved opportunities in Fintech.

Established SMEs are the backbone of local communities - representing over a third of our economy - yet have been largely neglected both by traditional high street banks and modern fintech providers.

Department Description

The Compliance function is Allica Banks independent second line for managing regulatory compliance risk. It helps the Bank grow safely by making regulatory obligations clear practical and evidenced while preserving 1LOD ownership of day-to-day compliance and maintaining independent oversight and challenge.

This role sits within the compliance and conduct team reporting to the Senior Manager Compliance and Conduct. The wider department includes Financial Crime Operational Risk and an Assurance team all of which report to the Chief Compliance Officer (SMF16). The compliance and conduct team support the design and operation of a scalable compliance risk framework for a UK business bank serving SME customers.

Role Description

• Provide independent 2LOD oversight advice and challenge over the Banks compliance with applicable FCA PSR FSCS and other relevant regulatory obligations which can include PRA requirements in conjunction with the 2LOD Financial Risk teams.

• Maintain and develop the regulatory compliance framework obligations inventory regulatory change process perimeter and permissions oversight regulatory reporting oversight breach and notification framework SMCR governance support regulatory engagement processes and compliance MI.

• The role supports advises monitors challenges and escalates to the CCO/SMF16 and relevant governance forums.

• In scope: regulatory compliance framework obligations mapping rule interpretation regulatory change compliance advice and challenge regulatory reporting oversight breach/notification management SMCR governance support policy standards evidence management and senior governance reporting.

• Out of scope: Conduct Risk ownership Consumer Duty/customer outcome monitoring fair value vulnerable customer oversight complaints root cause DISP ownership customer redress Financial Crime prudential risk ownership operational resilience ownership formal legal advice Internal Audit and 1LOD control operation.

Principal Accountabilities

The role holder will own and be responsible for a number of the following accountabilities and will support the Senior Manager Compliance and Conduct with the others.

The split of tasks will be determined by the experience of the role holder (i.e. you do not need to have experience for all the below but you must be able to take responsibility for a number of these accountabilities). The ultimate Accountability remains with the SMF16.

• Maintain and develop the Banks regulatory compliance framework including taxonomy risk appetite KRIs policy standards obligations mapping Horizon Scanning escalation routes and governance reporting.

• Maintain the regulatory obligations inventory and map applicable requirements to accountable owners policies controls MI assurance and evidence.

• Provide 2LOD advice and challenge on FCA/PRA Handbook requirements permissions perimeter regulatory change SMCR regulatory reporting breaches notifications and regulatory engagement.

• Support 1LOD on perimeter and permissions assessments for new products business changes partnerships customer segments distribution models countries of operation and structural changes.

• Own or support regulatory change and horizon scanning including impact assessment gap analysis implementation oversight and reporting to governance forums.

• Review and challenge new product papers including product compliance checklists financial promotions product information and any rule applicability.

• Oversee the regulatory reporting governance requirements including defined ownership processes controls data lineage sign-off timeliness and breach escalation. Regulatory reporting returns are owned by relevant teams this is an oversight responsibility in 2LOD.

• Oversee regulatory breach management including materiality assessment root-cause challenge remediation tracking notification consideration and closure evidence.

• Support with regulatory engagement and commitments including supervisory correspondence information requests regulatory meetings Dear CEO/portfolio letters (as part of Horizon Scanning) and the reporting for senior management updates.

• Maintain compliance policies standards practical 1LOD guidance and regulatory training including targeted guidance on financial promotions/social media and relevant regulatory requirements.

• Support HR on SMCR FIT and accountability governance

• Provide 2LOD oversight of FSCS/depositor protection obligations including disclosure eligibility Single Customer View exclusions view and testing evidence.

• Produce clear actionable compliance MI for senior management ExCo Board committees and relevant governance forums.

• Maintain oversight of any other regulatory compliance requirements as required

Personal Attributes & Experience

• Strong UK banking regulatory compliance experience ideally in a dual-regulated bank building society SME lender payment services environment or comparable regulated financial services business.

• Detailed working knowledge of FCA and PRA expectations relevant to a UK business bank including SYSC SUP PRIN BCOBS FIT PERG SMCR regulatory reporting payments regulation and FSCS/depositor protection. PROD/ESG knowledge is desirable where applicable to the Banks product set.

• Ability to interpret regulatory requirements and translate them into practical controls evidence standards committee papers and business guidance.

• Data-led and evidence-led: comfortable using MI KRIs breach data monitoring outputs and audit findings to identify trends and drive remediation.

• Must be comfortable using analytics and using and building AI-enabled tools safely and pragmatically with appropriate attention to data quality governance explainability validation and human judgement.

• Experience building or maintaining an obligations inventory regulatory change process compliance monitoring plan breach/notification process and senior governance MI.

• Strong written and verbal communication skills including the ability to produce CCO and committee-level reports that are concise risk-based and root-cause analysis that support decisions.

• Able to challenge senior stakeholders clearly while preserving the distinction between 2LOD oversight and 1LOD ownership.

• Strong judgement on when to escalate and when to seek specialist input from other departments.

• Practical disciplined and comfortable operating in a scaling bank where the control environment needs to mature without becoming unnecessarily bureaucratic

Working at Allica Bank

At Allica Bank we want to ensure our employees have the right tools and environment in which to succeed in their role and in support of our customers.

Our employees are at the heart of everything we do so our benefits are designed with you in mind:

• Full onboarding support and continued development opportunities

• Options for flexible working

• Regular social activities

• Pension contributions

• Discretionary bonus scheme

• Private health cover

• Life assurance

• Family friendly policies including enhanced Maternity & Paternity leave

Dont tick every box

Dont worry if you dont have all the skills or requirements listed on the job description. If you think youll be a good fit wed still love to hear from you!

Flexible working

We know the 9-to-5 isnt right for everyone. Thats why Allica Bank is fully committed to flexible and hybrid working. Please let us know what is best for you and if we can we will do our best to accommodate.

Diversity

Were a diverse bunch here at Allica with all kinds of experiences backgrounds and lifestyles. Our openness and differences make us stronger and we want everybody to feel comfortable bringing as much of themselves to work with them as they like.

Required Experience:

Manager