Head of Audit Quality, Compliance, Professional Standards & MLRO Role Purpose To lead and strengthen the firms audit quality, regulatory compliance, professional standards and anti-money laundering governance, ensuring the firm consistently meets the requirements of: ICAEW Practice Assurance and Audit Regulations FRC Ethical Standard and ISQM 1 & 2 UK Companies Act 2006 Money Laundering Regulations 2017 (as amended) PE ownership governance and risk expectations The role will assume day-to-day ownership of audit quality, professional standards and AML oversight, materially reducing the workload currently carried by senior audit partners, while strengthening governance in a PE-backed environment. Core Responsibilities 1. Audit Quality & ISQM 1 & 2 Leadership Own, maintain and continuously improve the firms ISQM 1 system of quality management, ISQM 2 engagement quality reviews, including: Quality risk assessment and responses Monitoring and remediation activities Root cause analysis and continuous improvement Design and oversee: Internal audit file reviews (hot and cold) Engagement Quality Control Review (EQCR) framework Annual audit quality monitoring plan Act as internal authority on: ISA application and interpretation Complex audit judgements Consistency of audit execution across partners and offices 2. Regulatory & Practice Assurance Oversight (ICAEW / FRC) Lead preparation for and management of: ICAEW Practice Assurance visits Regulatory inspections and correspondence Remediation plans and follow-up actions Maintain firm-wide compliance with: ICAEW Audit Regulations FRC Ethical Standard (independence, NAS, fee dependency) CPD, competence and training requirements Act as senior escalation point for: File quality concerns Independence or ethics breaches Regulatory matters 3. Independence, Ethics & Conflicts (including PE ownership) Own and operate the firms: Independence and conflict identification framework PE-related conflict assessment and documentation Client acceptance and continuance governance Advise partners and leadership on: Permitted and prohibited services Safeguards, partner rotation and fee dependency PE-related conflicts and portfolio company considerations 4. MLRO Responsibilities (AML Governance & Oversight) Act as the firms Money Laundering Reporting Officer (MLRO) under the Money Laundering Regulations 2017. Own and maintain the firms: Firm-wide AML Risk Assessment AML policies, procedures and controls AML governance and reporting framework Provide senior oversight of: Client onboarding and acceptance from an AML perspective High-risk clients, jurisdictions and services Ongoing monitoring and risk re-assessment Act as decision-maker for: Internal suspicious activity reports External SAR submissions to the NCA (where required) Maintain appropriate regulatory engagement with: FCA (AML supervision) Law enforcement (where applicable) Ensure the AML function is: Adequately resourced Supported by a Deputy MLRO and/or AML team Properly documented and inspection-ready 5. Governance, Risk & PE Interface Act as senior professional standards and AML representative in a PE-backed firm, including: Audit quality and AML reporting to the Board and PE owners Supporting PE due diligence and ongoing governance reporting Maintaining regulatory credibility during growth and change Develop and maintain: Audit quality and AML risk registers Regulatory dashboards and KPIs Annual quality and AML reports to the Board 6. Audit Methodology Own and enhance the firms: Audit methodology, templates and guidance AML and independence documentation Client acceptance and risk assessment tools 7. Partner Advisory & Challenge Provide senior challenge and support on: High-risk or complex audits New or regulatory-sensitive clients First-year and group audits Act as independent internal reviewer on: High-profile engagements Regulatory-exposed work Candidate Profile Essential Experience Senior audit professional with 15 years experience in: UK statutory audit ICAEW-regulated environment Audit quality, compliance or professional standards Demonstrable experience of: ICAEW Practice Assurance inspections ISQM 1 & 2 operation and updates FRC Ethical Standard application AML governance and risk assessment Desirable Experience Prior experience as: Audit partner or senior director Head of Audit Quality / Professional Standards MLRO or Deputy MLRO Ex-regulator or monitoring reviewer Qualifications ICAEW ACA (or equivalent UK audit qualification) Current or previous Responsible Individual (RI) status desirable AML / MLRO training and experience strongly preferred Personal Attributes Senior credibility and gravitas Independent mindset and strong ethical judgement Able to challenge partners constructively Calm under regulatory and inspection pressure Comfortable operating at Board and PE-owner level