Senior Compliance Monitoring Officer, Starling Bank
1-5 days a week in office
Mobile-first bank offering personal, joint and business accounts
Posted today
Mobile-first bank offering personal, joint and business accounts
1001+ employees
Posted today
1-5 days a week in office
1001+ employees
Company mission
Anne Boden founded Starling with a clear goal: to build a bank that would help you manage your money, all from one app. Their vision is to give everyone clarity and control over their money so they have the opportunity to enjoy a healthy financial life.
Role
Who you are
- Deep working knowledge of relevant laws, regulations, and industry best practices related to compliance, and financial services, including BCOBs, CONC, LSB, PSD2, SYSC and MCOBs (advantageous) etc
- Excellent communication (written and verbal), relationship building and influencing skills, with the ability to communicate effectively to a variety of audiences, including senior management and committees
- Proven analytical skills and problem solving skills, with the ability to understand and interpret business knowledge
- Detailed knowledge and experience of identifying key Conduct and Compliance risks
- Sound judgement and decision making, planning and prioritisation skills, with the ability to see things through to resolution at all times
- Proactive with regards to ownership and oversight of emerging and existing compliance and conduct issues and risks
- Have a naturally curious and inquisitive approach to work, proactively questioning the status quo where appropriate
- Be resilient and not shy away from having difficult conversations
- Willingness to share knowledge with the team and collaborate across all product lines with all members of the team
What the job involves
- We are now looking for a Senior Compliance Monitoring Officer to join the team
- The purpose of this role is to provide second line of defence (2LoD) regulatory compliance oversight over 1LoD (first line of defence) / business teams, so that they meet their regulatory obligations and effectively manage their regulatory compliance and conduct related risks (including the delivery of good customer outcomes)
- Conduct Oversight reviews as part of a high performing Conduct & Compliance Oversight team, ensuring the timely and accurate delivery of regulatory compliance and conduct related Oversight reviews and independent challenge is provided to Starling Bank’s first line of defence (1LoD) / business teams
- Compliance oversight will cover both assurance reviews and outcomes testing, covering all current (and future) products, services and activities across the Bank, as well as overarching compliance requirements, such as Consumer Duty, conduct risk, SMCR, outsourcing, product governance, vulnerable customers, complaints, conflicts of interest etc.,)
- Conduct thematic monitoring reviews in line with the Compliance’s Monitoring Plan (CMP)
- Proven ability to write up findings related to oversight reviews clearly and accurately
- Responsible for ensuring that actions are tracked in the Bank’s risk system and adequately reported (where appropriate) to the relevant committees
- Build strong relationships with 1LoD to deliver a collaborative working environment between Compliance and the business
- Support with the production of Compliance’s monthly reporting pack
- Support with the development / implementation of the requisite conduct risk and compliance frameworks and policies
- Ability to support team members with the completion and delivery of compliance reviews and findings
Salary benchmarks
Our take
Starling started life focused on consumer banking, they have since found most of their success by competing in the business banking space. They’ve caught up with Tide and beaten the likes of Monzo and Revolut to a more complete offering for businesses.
This progress resulted in them receiving a £100m grant in April 2019 from a body created to boost competition in SME banking, which they're using to accelerate building a full suite of digital banking products: intelligent forecasting tools, and digitally-enabled relationship management functions as well as lending products.
As well as continuing to expand in the UK, they’re expanding in Europe. They’re imminently launching an international bank in Dublin, which will allow Starling to offer its current account across the European Union after Brexit.
Banking for small businesses has historically been ignored even though the experience is poor. Starling is in tune with knowing what their customers want, and they continue to build out their range of third-party products within its banking app thanks to support from its open API. They currently have 11 integrations, including Xero, but that figure continues to grow.
Steph
Company Specialist at Welcome to the Jungle
Insights
Many candidates hear
back within 2 weeks
43% female employees
40% employee growth in 12 months
Company
Funding (last 2 of 11 rounds)
Apr 2022
$164.9m
LATE VC
Jun 2021
$44.3m
LATE VC
Total funding: $1.1bn
Company benefits
- 25 days holiday (plus take your public holiday allowance whenever works best for you)
- An extra day’s holiday for your birthday
- Annual leave is increased with length of service, and you can choose to buy or sell up to five extra days off!
- 16 hours paid volunteering time a year
- Salary sacrifice, company enhanced pension scheme
- Life insurance at 4x your salary & group income protection
- Private Medical Insurance with VitalityHealth including mental health support and cancer care. Partner benefits include discounts with Waitrose, Mr&Mrs Smith and Peloton
- Generous family-friendly policies
- Perkbox membership giving access to retail discounts, a wellness platform for physical and mental health, and weekly free and boosted perks
- Access to initiatives like Cycle to Work, Salary Sacrificed Gym partnerships and Electric Vehicle (EV) leasing
- Incentives refer a friend scheme
Company values
- Do the right thing
- Listen
- Aim for greatness
- Own it
- Keep it simple
Company HQ
Spitalfields, London, UK
Leadership
Anne Boden
(Founder)Held senior roles in finance over a 30 year career, including COO for AIB and Head of EMEA for RBS.
Diversity, Equity & Inclusion at Starling Bank
Manuela Torrijos-Simon (Group Financial Controller)
- In the spirit of Aiming for Greatness and Doing the Right Thing, we want to be the bank with the best approach to Diversity and Inclusion
- The Always Open Forum at Starling empowers employees to come together and own their areas of interest, supporting their agenda both internally and externally
- The forum creates a safe space for conversations about all Diversity and Inclusion topics, with the spotlight currently on 3 focus areas; Race and Ethnicity, LGBTQ+ and Mental Health.
- We’re about to launch a new group to support Disability, and all of these teams help bring Starlings together to improve our workplace
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