Head of Compliance, Octopus Money
£90-110k
3+ days a week in office (Holborn, London)
Making advice and investing accessible for all
Be an early applicant
Making advice and investing accessible for all
101-200 employees
Be an early applicant
£90-110k
3+ days a week in office (Holborn, London)
101-200 employees
Company mission
To help millions of people take the first steps towards making their life dreams a reality.
Role
Who you are
- If you are passionate about compliance, thrive in a collaborative setting we would love to hear from you
- If you are a current holder of SMF16 responsibilities that's ideal. However, what's more important is proven experience in a senior compliance role in financial advice - specifically with exposure to investments and pensions and the below:
- Extensive knowledge of UK regulatory requirements, including the FCA frameworks
- Strong understanding of the Senior Managers and Certification Regime (SMCR)
- Exceptional leadership and management skills with the ability to influence stakeholders at all levels
- Analytical mindset with a proactive approach to problem-solving and risk mitigation
- Excellent communication and interpersonal skills. You are able to make complex subjects straightforward
- Proven experience working with MIFIDPRU and UCITS firms, including expertise in discretionary fund management
- Prior experience in Training & Competency supervision
- Qualified to a minimum CII Level 4 (or equivalent Pension and Investment Advice qualification)
- A relevant professional qualification (e.g., ICA, CISI or legal qualifications) is desirable
What the job involves
- We're looking for a Head of Compliance, who can help us on our mission to build financial resilience and wealth for everyone
- You will play a crucial role in ensuring regulatory compliance, and driving a culture of integrity. You will be part of a fast-paced, tech-led and innovative environment
- The Head of Compliance (SMF16) will play a critical role in ensuring that Octopus Money operates within the framework of all applicable regulations and standards
- This is a senior role and will involve designing, implementing and managing a robust compliance framework that supports our strategic objectives while mitigating regulatory risks
- The successful candidate will act as the primary contact with regulatory bodies and oversee all aspects of compliance, including monitoring, reporting and advisory functions
- Assume responsibility for the firm’s compliance with the regulatory framework, fulfilling the SMF16 function under the Senior Managers and Certification Regime (SMCR)
- Develop, implement and maintain the firm’s compliance policies, procedures, and systems to ensure alignment with relevant laws and regulations (e.g., FCA Handbook)
- Provide expert advice and guidance to the Board, senior management and business units on compliance matters
- Monitor regulatory developments and assess their impact on the organisation, ensuring timely updates to policies and practices
- Foster a culture of compliance awareness and accountability across the organisation
- Conduct regular compliance monitoring reviews, identify gaps and implement remedial actions
- Act as the primary liaison with regulatory bodies, including preparing and submitting reports, handling inspections and responding to inquiries
- Oversee regulatory training programs for employees to enhance understanding of compliance obligations
- Collaborate with internal audit, risk management and other control functions to ensure a coordinated approach to governance
- Prepare and present compliance reports to the Board and relevant committees
- Work with the wider Octopus Group Risk and Compliance functions
- Oversee financial advice propositions and work with core financial advice teams, including wealth planning and digital advice
- Support merger and acquisitions workstreams on all compliance related topics
- Oversee and support training and competence functions in the delivery of effective competence across regulated financial advice and non regulated financial coaching
- Own and maintain compliance with the Senior Managers and Certification Regime, ensuring group companies continue to apply the scheme effectively
- Oversee and contribute to the firm’s financial promotions framework
Salary benchmarks
Our take
Octopus Money believes that offering financial coaching to employees is the most effective way to improve their financial well-being. The company is a financial coaching start-up that aims to make useful financial advice accessible to everybody. According to the company, the employees who use its service - numbering at over 250,000 - save, on average, around £9700 per year.
The company differentiates itself through its business model - the service is free, and the company adopts upselling techniques. Octopus Money can easily be implemented by employers within their organisations, giving each employee their own expert financial coach for free. According to the company, most employees will then choose to upgrade their plans and become paying customers.
The business was formerly called Hatch and has been acquired by the Octopus Group. It also powers financial services firms aligned with its values to complement its financial coaching products, covering more bases to draw in a wider customer reach. Octopus Money already counts SecretEscapes, Epson, and Octopus Energy among its growing client base.
Freddie
Company Specialist at Welcome to the Jungle
Insights
Company
Company benefits
- 18 day “work from anywhere” allowance every year (you can choose to work from home or anywhere, including other countries)
- 6% company pension
- Enhanced maternity, paternity, adoption or shared parental leave, if you’ve been with us for at least 15 months: 6 months fully paid leave for primary carers, 2 months fully paid leave for secondary carers
- Private health insurance through Aviva
- Employee Assistance Programme offering a 24/7 confidential advice line for you and your immediate family members
- Discretionary up to 10% bonus at the end of each financial year, based on the performance of the company
- Access to the Octopus Group Share Incentive Plan
- Paid therapy via Spill
Company values
- Make Every Conversation Matter - We care deeply about how we make customers and colleagues feel – on every call, email, screen and event. It won’t always be perfect, but we’ll always work harder to keep making it better.
- Move with Urgency and Focus - We’re impatient to make remarkable things. We focus on what matters most, make fast initial progress and then iterate forward.
- Own It - We take full ownership of our work – from the smallest detail to the final outcome. We have the courage to break new ground, to hold ourselves and each other accountable, to tackle challenges head-on and find solutions that make a lasting impact.
Company HQ
Holborn, London, UK
Articles
Leadership
Ruth Handcock
(CEO)Founding member of Tandem Bank, former CEO of Octopus Investment and chairperson for Octopus Legacy, Seccl, amicable.
Diversity, Equity & Inclusion at Octopus Money
- We believe in equal financial education for everybody, no matter their background. We pride ourselves on building an inclusive working environment where diversity is celebrated. We do not and never will discriminate on the basis of race, religion, colour, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
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