Compliance Analyst

Who We Are 

BLME: BLME (Bank of London and The Middle East) is a unique, award-winning Sharia-compliant digital banking and wealth proposition. Based in the heart of London and with an office in Dubai, BLME is one of the largest Islamic banks in Europe. BLME is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA). BLME is at an exciting stage in its development. 

Nomo Bank: Now incorporating Nomo Bank – the world’s first fully digital Sharia-compliant cross border banking platform, its Middle East customers can access, via the Nomo app, a range of innovative, cutting-edge products and international banking services. These include current accounts, fixed term deposits, property finance, multi-currency services and international transfers. 

Responsibilities 

• Always act in good faith towards customers, avoid causing foreseeable harm, and enable and support the Bank’s clients /customers to pursue their financial objectives. As related to your role, you should monitor, assess, understand and evidence how you are acting to deliver good outcomes to clients and customers as per the FCA’s Consumer Duty regulations.

• Assist with the delivery if of the Compliance Monitoring Plan provided clear documentation of findings.

• Discussion of the findings with the Head of Compliance and assisting in issuing the Compliance Monitoring Report findings to CEO, ExCo and Audit Committee.

• Responsibility for maintaining and monitoring adherence to key compliance polices, this includes maintaining relevant registers e.g., Breaches and Financial promotions.

• Conduct policy reviews for Compliance owned policies ensuring that they reflect the latest regulatory requirements.

• Development and maintenance of standard operating procedures (SOPS), ensure that systems and controls are up to dates and comply with BLME’s policies.

• Keep the team and business up to date with regulatory developments with through weekly Horizon Scanning. Prepare monthly horizon scanning slides to be presented at Executive Risk Committee.

• Assist with monitoring regulatory releases from the applicable authorities and making a preliminary impact assessment.

• Assist with ensuring that internal processes and procedures are updated as required due to regulatory changes.

• Ensure that standard and ad-hoc information reports required by regulators are completed in an accurate and timely manner.

• Provide input to the Annua; Compliance Risk Assessment that Is used to create the Compliance Monitoring Plan.

• When required support projects where compliance input is required ensuring these are delivered on time and to specification. Ensure that projects consider yje impact of rules and regulation

• Assist the Head of Compliance with SMCR related activities.

• Assist with preparation of committee packs.

• Assist with the oversight of activities relating to Client Money and Assets requirements (CASS).

• Review and approval of financial promotions

• Support the business with advisory requests and escalate to the Head of Compliance when required.

• Ensure tasks on the annual Compliance calendar are completed in a timely manner with any delays escalated.

General

• To work collaboratively and provide cross cover for colleagues when required e.g., due to absence for sickness or holiday.

• Uphold the Bank’s PROUD values at all times.

Experience

• Detailed knowledge of financial services regulations relevant to BLME's activities - MIFID and/or MCOBS desirable

• Knowledge and experience implementing Compliance frameworks, including compliance monitoring and risk assessments in the context of the UK financial services industry.

• Experience of communicating with regulators, auditors and assisting with related enquiries.

Personal Attributes

• Effective communication and influencing skills with ability to build relationships.

• Broad and pragmatic thinker, capable of quickly interpreting information and presenting arguments in a clear and reasoned manner.

• Thorough and accurate, capable of identifying the key issues.

• Good decision-making skills and judgement

• Capable of and open to challenge

• Ability to establish and follow new processes.

• Ability to challenge constructively and enforce appropriate boundaries.

• Accountable for own decisions and actions whilst respectful of the professional responsibilities of others.

• Ability to operate in a structured and organised manner to ensure regular requirements are achieved.

•  Ability to understand the commercial needs that drive progression of the business in a wholly compliant manner.