Compliance Monitoring Officer
Business Area: Group General Counsel
Place of Work: Liverpool
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.
Working with Higher Education employers to build a secure financial future for our members and their families.
To support the Compliance Monitoring Manager in delivery of the annual compliance monitoring plan through testing key business processes and controls to determine whether they comply with applicable regulations and legislation. This will enable compliance to embed a stronger compliance culture across USSL through effectively engaging with key business stakeholders in respect of their regulatory obligations.
• Understanding key regulatory requirements applicable to USSL for both Defined Benefit and Defined Contribution schemes. (TPR, AML and any other applicable legislation)
• Support the Compliance Monitoring Manager in carrying out bi-annual risk assessments to ensure that a risk-based approach is being taken to what reviews are prioritised in the Compliance Monitoring Plan.
• Responsible for carrying out monitoring reviews (both thematic and focused) to determine whether key business processes and controls are designed and operating effectively to ensure compliance with key regulations and legislation. (with particular focus on Pensions Administration)
• Agree actions with key business stakeholders and present findings in a clear and concise manner.
• Responsible for appropriate follow up activity with key business stakeholders to ensure effective closure of actions.
• Support in the design and review of compliance e-learning training content which is applicable to USSL staff and directors.
• Keep up to date with changes to regulatory requirements, new legislation and codes of practice.
• Working closely with the investment management compliance team in London to ensure consistency across our approach to compliance and share best practice.
• Building strong relationships with colleagues within the Pensions Legal team who will be key in validating regulation and legislation that underpins the monitoring reviews.
• Produce accurate and timely updates on monitoring activity that will be included in the regular compliance MI pack.
• Support the Compliance Monitoring Manager and Head of Compliance in helping to embed a strong compliance culture across USSL through delivery of the Compliance Monitoring Plan.
• Attention to detail
• Excellent communication skills
• Ability to plan and prioritise work effectively
• Act with Integrity
• Experience of working in a compliance monitoring role
• Knowledge and understanding of regulatory frameworks
• Ability to interpret data
• Excellent communication skills
• Proficient in using Microsoft office
• Experience of working for a pension trustee firm.
• Relevant qualifications from Pensions Management Institute (PMI); International Compliance Association (ICA)
USSL is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.