Head of Public Markets Compliance Advisory


Head of Public Markets Compliance Advisory

Business Area: Group General Counsel

Place of Work: London

Contract Type: Permanent

Hours: Full Time

The Universities Superannuation Scheme (USS) has circa 396,000 members, and over £60 billion in assets, we’re one of the largest private pension schemes in the UK and in the top 50 worldwide. Established in 1974, we’re entrusted by over 350 higher education sector employers to manage and administer the pension scheme and its investments through our two companies, Universities Superannuation Scheme Limited and USS Investment Management Limited.
Our purpose
Working with Higher Education employers to build a secure financial future for our members and their families.


The role
• To act as the “first port of call” in the Compliance team in respect of the activities of the Public Markets Group.
• As a senior member of the Compliance team, to assist the Head of Compliance for USSIM in a range of compliance matters, including managing compliance systems, undertaking breach assessments and delivering training.
• To assist with managing the monitoring activities of the Compliance team in order to support USSIM business Compliance with regulatory standards.
Key responsibilities
• Provide specialist compliance advice to the investment management function.
• Build close relationships with the public markets Heads of Desks and attend key business meetings in relation to the Public Markets Group (including with External Managers, Operations and Business Change) and other compliance matters as required.
• Facilitate error and breach resolution for public markets.
• Monitor the activities of the Public Markets Group in conjunction with the Compliance Monitoring Manager.
• Have input into the development of the compliance risk assessment and implement the monitoring programme. Including identifying new and emerging risks from business and regulatory developments and assess their impact on the monitoring programme.
• Conduct regulatory thematic reviews and write up findings, presenting final report to line management/Senior management.
• Produce monthly compliance management information reports regarding Public Markets Group, including reporting on MAR, MiFID II, SM&CR and other key FCA regimes.
• Follow up investigations as a result of regular and ad hoc monitoring reviews or business/regulator generated enquiries in Public Markets Group.
• To work closely with other members of the Compliance Team – including the Head of Private Markets Compliance Advisory - as required on cross training, project work, and input to compliance matters in addition to those of Public Markets Group as the need arises.
• Updating and drafting policies, procedures and compliance manual, as directed by the Head of Compliance for USSIM.
• Assist in internal and external audit queries.
• Provide support to the Compliance Officer in relation to the implementation of regulatory and business change projects and attend key meetings as required.
• Maintenance of key regulatory monitoring processes, including MAR surveillance, best execution, allocations, sanctions lists, shareholding disclosures and position limits, exceptions reporting, and maintenance of IT systems to manage these.
• Monitor industry developments, for example best practices from trade associations and apply and roll these out within USSIM as relevant at the direction of the Compliance Officer.
• Assist in the writing and preparation of risk committee report, and board papers.
Your experience
• A good understanding of public market asset classes; including equity, credit, fixed income, derivatives and alternative investments.
• Demonstrable experience of Public Market Compliance.
• Sound knowledge of financial crime impact to public markets investment management.
• Experience of identifying and managing conflicts of interest.
• Thorough knowledge of UK regulatory framework.
• Familiarity with regulatory change agenda, and in particular impact of public markets.
• Willingness to develop relationships at all levels in delivering pragmatic and proportionate compliance advice, monitoring and training solutions within Public Markets Groups.
• Good knowledge of Bloomberg and FundApps or other equivalent systems for monitoring public markets compliance.
• Bachelor Degree or equivalent; relevant professional qualification (Accounting/Legal) or industry qualification (such as CISI).
• Excellent working knowledge of FCA rules and industry best practice relating to:
• FCA Conduct of Business rules, including best execution
• Financial crime regimes including sanctions
• MiFID II rules
• Guideline and limit monitoring
• Market Abuse surveillance, including insider dealing and market soundings
• Shareholder disclosures and position limits
• Conflicts of Interest, including research arrangements
• Record Keeping
• Some knowledge of other relevant regulatory frameworks, including European and US.
USSIM is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.

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