Senior Assurance and Compliance Manager

Job summary

Context:

The role holder will operate within the Innovate UK Loans Team which is part of the Innovation Finance Directorate.

Innovate UK Loans Ltd is a wholly-owned subsidiary of UK Research and Innovation (UKRI)

and is managed by Innovate UK (IUK), a council of UKRI, a non-departmental public body

funded by Grant-in-Aid from the UK Government. As such, Innovate UK Loans Ltd is a non-

regulated lender with its financial products outside the scope of the NCCP (National Consumer

Protection Act) however, it seeks to achieve quasi FCA regulated standards.

We particularly welcome female applicants as women are under-represented within Innovate UK in this type of role.

Job Purpose:

The Innovate UK Loans Assurance and Compliance Manager will report to the IUKL Deputy Director of Risk and Governance and lead in the creation and implementation of a comprehensive assurance programme for Innovate UK Loans.

The Compliance & Assurance Manager will work closely with colleagues across the Operational Governance, Risk, Funding Assurance and Information Governance teams and other corporate colleagues to support decision-making, ensuring that Innovate UK Loans operates best practice throughout its governance, accountability, risk management and integrated assurance arrangements.

You will liaise with internal audit on the planning of assurance activity and will

support the UKRI Head of Governance and Management Assurance in establishing a positive and proactive culture to engaging with internal audit and completing and evidencing subsequent audit recommendations.

This role may have line management responsibility, and a critical element of role is to support the organisation to succeed, leading by example, and increase knowledge and collaboration in how we manage risk across the organisation, with our senior forums, Committees and Board.

Job description

Key Responsibilities and Accountabilities:

• Work with the IUKL Deputy Director of Risk and Governance to support the development of robust assurance arrangements for IUKL.
• Ensure the mechanisms, frameworks and policies meet both Shareholder (UKRI) requirements and FCA regulatory requirements.
• Lead the review and implementation of policies, standards and procedures for the general operation of the organisation in line with regulatory and government standards and best practice
• Advise on compliance matters and manage the Compliance Monitoring Plan
• Lead on the design and operation of an assurance framework and provide regular appropriate assurance support for the organisation to enable optimisation of risk taking to take advantages of opportunities and organisational constraints within delegated limits and risk appetite.
• Provide reporting to IUKL Board and the IUKL Audit and Risk Committee on Compliance Management Information and assurance plans.
• Monitor, analyse and communicate regulatory changes ensuring the business remains compliant with regulatory requirements (including the FCA Principles for Business, relevant FCA sourcebooks, data protection regulation, and other trade bodies’ codes of conduct)
• Build and maintain excellent working relationships with UK Research and Innovation’s internal audit provider, the Government Internal Audit Agency.
• Provide support to the IUKL Audit and Risk Committee to ensure the relevant updates on audit recommendation progress are provided in a timely and informative manner.
• Monitor organisational compliance with regards to governance, assurance and risk policies and processes, fraud and the related management information reporting the Audit and Risk Committee.
• Constructively challenge and advise senior stakeholders on all aspects of assurance across IUKL work with the UKRI Funding Assurance team and the IUK Assurance team to ensure all elements of lending assurance are effectively integrated into the overall assurance framework.
• Work closely with all teams and relevant business areas to support end to end audit and review activity in the context of risk exposure
• Conduct internal reviews and provide constructive challenge on the effectiveness of controls
• Maintain appropriate risk and assurance records in the corporate risk management system
• Provide balanced professional support and challenge to all business areas at a variety of levels as appropriate

Person specification

Person Specification:

Qualifications: (S)

• Risk Management (CIRM) Audit (MIAA or equivalent).

• Certified Internal Auditor, IIA
• or equivalent Assurance qualification.
• Qualification in AML and Financial crime (CISI or equivalent)

Experience & Qualifications:

Essential –

• Degree level or relevant equivalent experience (S)
• Good understanding and working knowledge of: (S&I)
  • prevailing governance, risk and assurance standards and public-sector rules
  • Internal audit standards
  • Audit Committee best practice
  • RC Corporate Governance Code and its public-sector equivalent
• FCA regulations including SYSC, MIFID, SMCR, Conduct and AML rules (S)
• Experience working with senior staff and being a trusted advisor (S&I)
• Experience of working with internal and/or external auditors (S)
• Experience in developing and implementing effective assurance strategies and frameworks in an organisation. (S&I)
• Experience in provision of high quality written and verbal advice suitable for executive and senior level decision makers. (S&I)
• Ability to deliver at pace and meeting changing priorities to time and to a high standard
• Excellent interpersonal skills, able to influence and build and maintain strong working relationships with a wide range of stakeholders at all levels (I)
• Insightful business awareness with the ability to understand and analyse changing business context and landscape to: assess and manage risk, capitalise on emerging opportunities, make sound evidence-based judgements, promote the interests of UKRI and research and innovation (I)
• Ability to instill confidence within stakeholders at the most senior levels, acting as a trusted advisor Enthusiastic, motivated, adaptable and proactive with the ability to work flexibly in a changing environment (I)
• A strong sense of personal resilience, accountability and ability to remain focused on the bigger picture. (I)
• Experience of working in Financial Services and FCA regulations including SYSC, MIFID, SMCR, Conduct and AML rules (S)

Benefits

Alongside your salary of £58,589, Innovate UK contributes £16,973 towards you being a member of the Civil Service Defined Benefit Pension scheme. Find out what benefits a Civil Service Pension provides.

• Learning and development tailored to your role
• An environment with flexible working options
• A culture encouraging inclusion and diversity
• A Civil Service pension with an employer contribution of 28.97%

Things you need to know

Artificial intelligence

Artificial intelligence can be a useful tool to support your application, however, all examples and statements provided must be truthful, factually accurate and taken directly from your own experience. Where plagiarism has been identified (presenting the ideas and experiences of others, or generated by artificial intelligence, as your own) applications may be withdrawn and internal candidates may be subject to disciplinary action. Please see our candidate guidance (opens in a new window) for more information on appropriate and inappropriate use.

Selection process details

1st interview incl presentation.

Interviews will either take place remotely via Teams or in person face to face.

Feedback will only be provided if you attend an interview or assessment.

Security

Successful candidates must undergo a criminal record check.Successful candidates must meet the security requirements before they can be appointed. The level of security needed is developed vetting (opens in a new window).

See our vetting charter (opens in a new window).People working with government assets must complete baseline personnel security standard (opens in new window) checks.

Nationality requirements

This job is broadly open to the following groups:

• UK nationals
• nationals of the Republic of Ireland
• nationals of Commonwealth countries who have the right to work in the UK
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities with settled or pre-settled status under the European Union Settlement Scheme (EUSS) (opens in a new window)
• nationals of the EU, Switzerland, Norway, Iceland or Liechtenstein and family members of those nationalities who have made a valid application for settled or pre-settled status under the European Union Settlement Scheme (EUSS)
• individuals with limited leave to remain or indefinite leave to remain who were eligible to apply for EUSS on or before 31 December 2020
• Turkish nationals, and certain family members of Turkish nationals, who have accrued the right to work in the Civil Service

Further information on nationality requirements (opens in a new window)

Working for the Civil Service

Please note this Post is NOT regulated by the Civil Service Commission.The Civil Service embraces diversity and promotes equal opportunities. As such, we run a Disability Confident Scheme (DCS) for candidates with disabilities who meet the minimum selection criteria.

Diversity and Inclusion

The Civil Service is committed to attract, retain and invest in talent wherever it is found. To learn more please see theCivil Service People Plan (opens in a new window) and the Civil Service Diversity and Inclusion Strategy (opens in a new window).

Apply and further information

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Contact point for applicants

Job contact :

• Name : Recruitment@ukri.org
• Email : Recruitment@ukri.org

Recruitment team

• Email : Recruitment@ukri.org