FCA Head of Compliance; SMF

Head of Compliance, Compliance Oversight & Money Laundering Reporting Officer Job Description

Mphasis UK Ltd

The Head of Compliance, Compliance Oversight & Money Laundering Reporting Officer (SMF
16 & SMF
17) is responsible for providing independent oversight of the firm's regulatory compliance framework and for establishing, maintaining and overseeing the firm's anti-money laundering and counter terrorist financing arrangements.

Acting as both the firm's Compliance Oversight function and Money Laundering Reporting Officer, the individual ensures the business complies with FCA rules, the Consumer Duty, the Senior Managers & Certification Regime, the Money Laundering Regulations 2017 (as amended), the Proceeds of Crime Act 2002, the Terrorism Act 2000 and applicable financial sanctions legislation.

The role provides independent second-line oversight across all regulated activities undertaken by both the Principal firm and its overseas Appointed Representative, ensuring that regulatory, financial crime and conduct risks are appropriately identified, managed and escalated.

Reports to: Managing Director (SMF
3)

Accountable to: The Board of Directors

Key Internal Relationships: SMF 1/3 (Managing Director, Business lead, Delivery lead

Key External Relationships: Appointed Representative (India) – senior management, lender clients, FCA (as directed by SMF 1/3), legal and professional advisers.

Compliance Oversight, Financial Crime & Regulatory Assurance

• Lead the firm's Compliance and Financial Crime function, providing independent oversight of regulatory compliance and ensuring the business continues to meet its obligations under FCA rules and applicable legislation.
• Act as the firm's SMF
  16 (Compliance Oversight) and SMF
  17 (Money Laundering Reporting Officer), subject to FCA approval, taking personal responsibility for the firm's compliance and anti-money laundering frameworks.
• Develop, implement and maintain an effective compliance framework, ensuring policies, procedures and controls remain appropriate, proportionate and aligned with regulatory requirements.
• Design and deliver a risk-based Compliance Monitoring Programme, carrying out thematic reviews and monitoring activities to assess compliance, identify areas of improvement and ensure timely remediation.
• Provide oversight of the firm's Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), sanctions and financial crime arrangements, including the Business-Wide Risk Assessment, customer due diligence and suspicious activity reporting processes.
• Act as the firm's Nominated Officer, receiving and assessing internal suspicious activity reports and making external disclosures to the National Crime Agency where appropriate.
• Provide independent oversight of the firm's Appointed Representative, ensuring appropriate governance, monitoring and regulatory control is maintained across all outsourced regulated activities.
• Monitor changes to FCA rules, legislation and industry best practice, advising senior management and the Board on regulatory developments and ensuring appropriate implementation across the business.
• Prepare and present regular compliance and financial crime reports to the Board, highlighting regulatory risks, monitoring outcomes, emerging issues and recommendations for improvement.
• Support the business in embedding Consumer Duty, ensuring customer outcomes remain at the centre of decision-making and regulatory obligations are reflected in day-to-day operations.
• Work collaboratively with the Managing Director and senior management, providing independent advice and constructive challenge while maintaining the integrity and independence of the Compliance function.
• Promote a strong culture of compliance, ethical behaviour and regulatory awareness through training, guidance and ongoing engagement with colleagues across the business.

SM&CR Responsibilities & Regulatory Accountabilities (SMF
16 & SMF
17)

As the FCA-approved Senior Manager performing the SMF
16 (Compliance Oversight) and SMF
17 (Money Laundering Reporting Officer) functions, the post holder will be responsible for maintaining an effective compliance and financial crime framework, ensuring the firm meets its regulatory obligations and delivers good customer outcomes.

The role includes responsibility for:

• Providing independent oversight of the firm's compliance with FCA rules, legislation and regulatory…