Role Purpose

The role holder is responsible for leading Cornmarket’s Compliance and Operational Risk function. This includes ensuring that the compliance and operational risk objectives of Cornmarket are met and providing leadership that will influence and shape Cornmarket’s on-going response to the changed (and changing) regulatory environment with the overall objective of maintaining Cornmarket’s robust compliance and control environment. This is a critical and senior role that enables the business to operate confidently in a regulated environment and maintains the highest standards of compliance, governance, and risk management. The role includes being the designated Compliance Officer under the requirements of the Central Bank of Ireland. While safeguarding the business and ensuring all regulatory obligations are met, the Head of Compliance & Operational Risk will work closely with business areas to enable informed, responsible growth and to support the company’s commercial objectives.

Accountabilities of the Role

Responsible for leading and managing the Compliance and Operational Risk function to include Anti Money Laundering and Data Protection frameworks.
Serve as a trusted advisor to the business – supporting growth, innovation and commercial goals while safeguarding regulatory integrity.
Provide regular reports and updates to the Board and/or relevant Board Committees on compliance and operational risk matters.
Manage, on a dotted reporting line basis, the Heads of Compliance in our UK entities CIS and EISFS.
Prepare and implement an annual compliance plan in line with the Group Compliance framework to include a comprehensive risk-based monitoring programme.
Ensure an operational risk programme is implemented in line with the Operational Risk Policy and framework.
Drive the implementation of new legislation and regulatory changes and set down standards on how they should be implemented within the business.
Ensure effective and efficient communication with external bodies.
Regularly appraise on the state of compliance and prepare compliance reports for business management.
Engage and influence the management team to ensure that risk and compliance requirements are appropriately allowed for in key strategy initiatives.
Translate regulatory and risk requirements into practical business solutions and provide compliance and operational risk input into material business initiatives.
Provide effective support to senior management whilst also maintaining the role of providing independent reporting and oversight.
Provide pre-launch input into material new product innovation and plans to assess and provide challenge in relation to the potential compliance & operational risks and their mitigation and management.
Where appropriate avail of the use of technologies and adoption of AI to automate and scale compliance and risk tasks.
Champion a ‘compliance as a business partner’ approach across the firm.
Direct and manage the compliance oversight role in product literature ensuring high standards of technical compliance.
Motivate, develop and lead a high performing Compliance and Risk team.
Consistently keeps abreast of regulatory developments.
Ensure that all compliance risks are identified, assessed, monitored and mitigated appropriately.
Providing regulatory training and updates to employees, fostering a culture of compliance awareness and understanding of obligations.
Being the primary liaison with regulatory bodies ensuring timely submission of notifications and reports.
This is a pre-approval controlled function (PCF) and will require Central Bank approval.

Skills & Knowledge Required

The ideal candidate should:

Hold a QFA or CIP Qualification upon commencement in the role.
Either hold an LCI Qualification upon commencement in the role, or be willing to work towards same.
Hold a Primary Degree and/or a Professional Qualification in a relevant technical discipline (such as Pensions, Finance, Audit, Solicitor, Compliance, Accountancy, Actuarial or Risk Management).
Have ten years’ experience in Compliance/Financial Services.
Have experience in a management role and an understanding of the 3 Lines of Defence model and the nature of a Controlled Function’s obligations within that model.
Have significant experience of financial services. Of particular interest is expertise in Cornmarket’s products, processes and systems across the different lines of business – Life & Pensions, General Insurance and Health Insurance
Strong knowledge of the regulatory framework.
Possess a strong blend of technical ability, judgement, and commercial awareness.
Have an ability to work effectively in partnership with the business divisions senior management, while maintaining independence and personal authority.
Have excellent communication skills (both written and oral).
Possess strong influencing skills.
Have strong problem-solving and decision-making ability.
Be an experienced people manager with proven ability to lead and motivate a team to successful outcomes.

What We Can Offer You?

Attractive remuneration package to include an annual performance bonus
Flexible working from home options as part of our Cornmarket Flex ways of working
Significant investment in professional development as appropriate
Flexi leave (option to purchase additional annual leave)
Attractive & flexible pension contribution rates
Health insurance or wellness subsidy
Fully paid family leave types (Maternity/Paternity/Surrogacy/Life Leave)
Income protection
Life cover
Discounts on financial products
Comprehensive health & wellbeing programmes
Employee Assistance Programme
Active Sports & Social Club

Behavioural Competencies Required

Risk Control and Regulatory Environment-is honest and compliant in their approach to work. Has a clear understanding of the significance of this role as part of the first line of defence. Leads and manages their business in terms of the identification of risk and the design and implementation of effective governance and robust control systems to minimise risk. Has an awareness and understanding of the regulatory framework in which the firm operates and ensures that this is translated into the business. Manages the control framework; identifies, analyses, measures, controls and translates risk into business and organisation objectives.
Commercial Awareness-has a broad awareness of the major events in the Financial Services market. Understands the role of Compliance in the overall Company to enable them to achieve their overall goals.
Drive for results – implements and drives strategy to meet and improve performance targets. Sets high standards and expectations.
Leadership- develops vision and implements strategy. Delegates where appropriate, is approachable, takes accountability to deal with important problems, stands firm when necessary.
Communicating and Influencing – is viewed as an effective communicator and influencer. Can use a range of influencing styles effectively. Is aware and responsive to the needs of others.
Planning and Organising – evaluates and manages the workload. Ensures the delivery of business strategy on time and within budget. Takes a logical approach, considers all relevant factors.
Innovation and Change/Problem Solving – thinks outside boundaries and challenges the status quo. Identifies impact on current resources and plans accordingly.
Judgement- demonstrates sound judgment in complex regulatory environments, consistently making decisions that balance risk mitigation with strategic objectives.
Analytical-possesses an analytical mindset with very strong attention to detail.
Solution-oriented – brings a pragmatic approach to compliance, focusing on enabling the business to operate effectively within regulatory boundaries.

Pre-Approval Controlled Function

This role is a ‘pre-approval controlled function’ as defined by the Central Bank Reform Act 2010 (Sections 20 & 22) Regulations 2011. Any appointment will be conditional on the company being satisfied that the appointee meets the requirements as set out in the Fitness and Probity standards issued by the Central Bank. This requires the company to complete prescribed due diligence to assess the appointee’s fitness and probity. As this is a pre-approval controlled function (PCF), this appointment will require Central Bank approval.

Equal Opportunities & Data Privacy Notice

Cornmarket is committed to building an inclusive workplace environment. We are proud to be an equal opportunity employer, striving to create a welcoming environment. All qualified applicants will be considered for employment without regard to age, disability, ethnic background, family status, gender identify or expression, marital status, membership of the Traveller Community, national origin, race, religion, sexual orientation. We are also committed to providing reasonable accommodations to qualified individuals with disabilities in the employment application process. To request an accommodation, please contact our Talent Acquisition Team. To review our data use practices, visit our Recruitment Data Privacy Notice.

Head of Compliance & Operational Risk

Benefits

Job Description