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Compliance Business Partner - Financial Crime

Willis Towers Watson
London, United Kingdom
Closing date
Dec 22, 2023

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
The Group Compliance Function's aim is to proactively support WTW to generate sustainable value, helping the company to deliver good client outcomes, manage its conduct, protect against regulatory risk, and to maintain strong regulatory relationships. We aim to be a trusted partner to the business. Within WTW's internal control system, we form part of the Second Line of Defence, as a function independent from daily business activities.

Our Every Day Effect is to inspire ethical decisions. Compliance is a trusted Professional Partner, supporting WTW's sustainable business growth by providing pragmatic advice, oversight and effective challenge.

We lead the management and co-ordination of WTW Group Compliance policies and procedures, identifying applicable regulatory requirements and assisting in implementing relevant processes to enable standards to be met. We also provide guidance and training. We monitor compliance with regulatory obligations and implemented controls within the Compliance Program. The Compliance team leads the management and co-ordination of the requirements of our global regulators.

The Business

Corporate Risk and Broking

CRB provides a broad range of risk advice and insurance broking services to clients ranging from small businesses to multinational corporations. The segment mainly conducts regulated business.

Health, Wealth & Career

HWC's core businesses (Health & Benefits, Global Outsourcing, Investments, Retirement and Work & Rewards) offer a wide range of employee benefit solutions strengthened by its integrating capabilities (Employee Experience and Integrated & Global Solutions). HWC consists of a mix of regulated and unregulated business.

The Role

Reporting to the TWL Compliance Director, with a dotted line to the WL Deputy Chief Compliance Officer and Head of Financial Crime, within a team of skilled colleagues, the Compliance Business Partner - Financial Crime is a key contributor to the departments' aim of maintaining an efficient, independent Compliance Function and framework, principally through:

Responsibilities and duties for this role primarily relate to anti-money laundering, anti-bribery and corruption, sanctions, market abuse and fraud risk assessment, policies and controls. In particular:

1. Identify, Plan and Apply
  • Lead and support assessment of local financial crime legal, regulatory and business requirements against the global financial crime framework and, where conducted, support gap analysis to determine need for, and content of, supplementary policies, procedures, systems and controls.
  • Lead and support assessment for review and enhancement of business proposals for local financial crime procedures, systems and controls.
  • Annual review for purpose of current financial crime policies and procedures.
  • Lead and support creation of new, or update of existing, supplementary financial crime policies and procedures, and any applicable local training material.
  • Subject Matter Expert support of creation, development, implementation, embedding and maintenance of non-Financial Crime/Compliance internal policies, procedures, training materials, and frameworks to address applicable financial crime risks and requirements.
  • Develop, implement and maintain effective Financial Crime tools and user guides to address financial crime risks and requirements and support the efficiency and effectiveness of the First Line of Defense's compliance with the Financial Crime framework.
  • Horizon scan for regulatory developments and report any new or proposed regulation or legislation that may impact the Business to relevant Compliance stakeholders.
  • Lead and support response to regulatory developments affecting the Relevant Business where appropriate.
  • Support and input into the ongoing delivery of an annual Financial Crime Compliance Plan
2. Support
  • Provide Subject Matter Expert technical advice to the First and Second Line regarding financial crime risk identified by First Line of Defence due diligence and KYC.
  • Lead and support with necessary responses to financial crime questions and enquiries from all colleagues.
  • Lead and support training to support compliance with financial crime requirements, mitigate financial crime risk and bolster the financial crime framework.
  • Champion Financial Crime Compliance at all levels of the Business, providing support and pragmatic risk-based advice and counsel to all appropriate stakeholders as well as provide effective challenge and oversight.
  • Provide challenge and oversight on business assessment and governance of compliance and financial crime risk.
  • Engage in any applicable financial crime risk assessments, providing support in the identification of legal, regulatory and financial crime risks, using commercial awareness to provide challenge so that such risks are appropriately understood and managed.
  • Provide guidance and advice to business management in developing appropriate 'tone from the top' and awareness of required business conduct and ethical standards, including the Code of Conduct.
  • Provide technical regulatory advice and support to the Relevant Business and other stakeholders in understanding their responsibilities and obligations under relevant WTW policies and regulatory requirements. Engage with operational areas to assist with formulating compliance best-practice procedures that are balanced to meet the needs of the business, the customers and regulators.
  • Compliance Function ad-hoc strategic or operational projects as requested.
3. Monitor
  • Support the development of key metrics and governance framework to support identification and management of financial crime risk.
  • Support the compilation and delivery of compliance records or information requested by internal and external auditors.
4. Engagement
  • Attendance and input with external and internal committees and parties to explain financial crime risk.
  • Act as a professional, trusted and transparent Business Partner to the Business and other stakeholders.
  • Represent WTW in relevant industry or similar associations or groups as appropriate.
  • Undertake quality and proactive engagement with the business, at all levels. Proactively develop and maintain relationships with the business at all levels, to foster a collaborative approach to embedding a strong compliance culture.
  • Foster close relationships with other Functions including Legal, Risk and Internal Audit.
Communications and Relationships

  • Build and maintain strong business relationships within OGC, senior management and wider WTW stakeholders as necessary.
  • Build and maintain strong business relationships with applicable regulators, authorities and other external bodies as necessary.
The Requirements

  • Strong regulatory and corporate governance knowledge/understanding required.
  • Ability to work, both individually and as a team, under pressure to tight timelines and without direct supervision.
  • Commercial awareness - a commercial and pragmatic approach to managing compliance risks.
  • Proactive and a self-starter.
  • Organised and methodical.
  • Excellent analytical problem-solving skills.
  • Strong communication skills, both orally and in writing.
  • IT literate - knowledge of Microsoft office packages needed.
  • Educated to degree level or equivalent.
  • Established financial services professional with at least five years financial crime experience.
  • Excellent interpersonal and influencing skills, with the ability to engage effectively at all levels to promote an effective and business focused compliance culture.
  • Commitment to continuous professional development and maintaining excellent understanding of regulatory developments.
  • Must be committed to maintaining a robust compliance culture and high ethical standards.
  • Always demonstrates high integrity.
  • Preferably holds a relevant ICA, CISI or equivalent qualification
  • Project management experience preferable
  • Professional experience gained within an insurance broking, general or life insurance, pensions or asset management.
At WTW, we believe difference makes us stronger. We want our workforce to reflect the different and varied markets we operate in and to build a culture of inclusivity that makes colleagues feel welcome, valued and empowered to bring their whole selves to work every day. We are an equal opportunity employer committed to fostering an inclusive work environment throughout our organisation. We embrace all types of diversity.

Equal Opportunity Employer

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