The Group Compliance Function aim is to proactively support Willis Towers Watson 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.
We lead the management and co-ordination of Willis Towers Watson Group Compliance policies and procedures, identifying applicable regulatory requirements and implementing relevant processes to enable standards to be met. We also provide guidance and training. The Compliance team leads the management and co-ordination of the requirements of our global Regulators.
The Role:
Reporting to the Willis Limited Chief Compliance Officer, and a key member of the Willis Limited Compliance Leadership Team, the Senior Compliance Officer will be responsible for ensuring the operation of an efficient and effective second line function. The Senior Compliance Business Partner will be a Certified role under the Senior Managers & Certification Regime. Key responsibilities include:
1. Lead, manage and develop an effective team of skilled Compliance business partners;
1. Direct line management responsibility for up to five Compliance Business Partners and / or Assistant Compliance Business Partners specifically, in relation to;
2. Operation and delivery of an annual compliance plan, derived from the Willis Limited Compliance Plan, as it relates to Business Partnering to evidence the delivery of the WL Compliance Plan within the supported businesses, reporting on progress to the WL Chief Compliance Officer.
3. Development of direct reports and the wider team, identification of training and personal development needs, working closely with team members to address these and setting objectives to support this process.
4. Senior point of escalation and contact for both direct reports and the business, where there may be regulatory issues occurring within the business.
5. To ensure quality and proactive engagement with the business, at all levels, by all members of the team.
6. Management of the team in delivering its responsibilities and objectives, including;
7. Identifying and assessing compliance risks within the business. Discussing promptly with the LoB management team where any compliance or regulatory issues arise;
8. Providing technical regulatory advice and support to the business in understanding its responsibilities and obligations under relevant WTW policies and regulatory requirements.
9. Identifying compliance training needs in the business and develop training plans for the year, co-ordinate effective Compliance training both via online training and developing specific training materials to the business.
10. Analysing management information produced by the business, Compliance Monitoring reports and internal /external audit reports, discussing key findings with the business.
2. Support the WL Chief Compliance Officer in leading the WL Compliance Team to embed the Compliance Framework within the Willis Limited business and management of key internal and external stakeholders
11. Assist with and provide input into, the co-ordination and implementation of the Willis Limited Compliance Framework.
12. Attend senior business meetings, providing meaningful updates and management information, to support the business in meeting its’ regulatory obligations.
13. Attend and represent the compliance function at key governance forums relating to business as usual and project activity
14. Proactively develop and maintain an effective relationship with the CEOs and COOs of businesses supported by the team, to foster a collaborative approach to embedding a strong culture of compliance within the business.
15. Liaise with Senior Management as appropriate to provide strategic advice regarding the appropriate control environment for each business.
16. Using commercial understanding to inform views, assist in providing independent influence, challenge and advice to business plans and key change initiatives, so that they are appropriately managed, taking into account regulatory requirements.
17. Provide regular updates on compliance metrics and commentary to the relevant business leaders and operational management (including governance forums). Including where risks or potential issues in the control environment have been identified.
18. Maintaining up to date knowledge of the regulatory framework in the UK and determining how changes affect Willis GB.
19. Business horizon scanning to identify upcoming developments and monitoring of internal policies, procedures and controls to ensure adequacy against new ventures.
20. Escalate regulatory issues to the WL Chief Compliance Officer and where appropriate, work with compliance management to resolve these.
21. Work closely with the Head of Central Compliance. To include;
22. Provide input in scoping proposed reviews and recommending topics to the Head of Central Compliance for inclusion within the Willis Limited Compliance plan.
23. Provide constructive input in to Central Compliance Monitoring reports prior to distribution to the business.
24. Support the Central Compliance team in the sourcing and collection of data for regulatory returns
25. Support the Central Compliance team in ensuring regulatory horizon scanning relevant to Willis Limited is completed and appropriate actions are taken in response to items highlighted
3. Provide second line advice, support and challenge to the business for an assigned portfolio (for an assigned business area):
26. Identify and assess compliance risks within the business. Discussing promptly with the LoB management team where any compliance or regulatory issues arise.
27. Provide technical regulatory advice and support to the business in understanding its responsibilities and obligations under relevant Willis policies and regulatory requirements.
28. Compare and analyse management information produced by the business, Compliance Monitoring reports, internal/external audit reports as a means of determining potential risks and weaknesses in internal controls, discussing key findings with the business.
29. Review and challenge the design and structuring of new products and services from the business to ensure that they meet legal and regulatory requirements and internal compliance policies and standards.
30. Identify compliance training needs within the business, taking advantage of available resources, contributing to online training as well as developing and delivering specific training materials to the business.
31. Proactively develop and maintain relationships with the LoB at all levels, to foster a collaborative approach to embedding a strong compliance culture.
32. Maintaining up-to-date knowledge of the regulatory framework in the UK and determining how changes affect Willis GB.
33. Horizon scanning to identify upcoming developments within the business and monitoring of internal policies, procedures and controls to ensure adequacy against new ventures.
34. Involvement in the business risk assessment process, providing support in the identification of appropriate risks, specifically, using commercial awareness to provide challenge so that compliance risks are appropriately managed.
35. Attend all formal (as defined by terms of reference) Business Unit Executive and Governance Meetings, providing meaningful updates and management information, to support the business in meeting its’ regulatory obligations.
36. Co-ordinate with Internal Audit on those activities that cover compliance obligations (during a review and in an ongoing way).