Internal

Job Description

JOB DETAILS

Job Title: Lead Conduct Compliance Manager – Advisory and business change

Department: Business Compliance

Reports to: Chief Compliance Officer

Grade: 5

Date: December 2024

KEY PURPOSE OF THE JOB

The Business Compliance team is an independent regulatory and compliance advisory and assurance

function for Mercedes-Benz Financial Services (UK) Ltd (MBFS) and its Appointed Representative. The

role holder will also contribute to the provision of a regulatory compliance service to Mercedes-Benz

Insurance Services (UK) Ltd (MBIS).

This role acts as a primary point of contact between MBFS’ Business Compliance (second line of

defence) and MBFS’ wider business. The primary purpose of the role is lead a team of Conduct

Compliance Executives managing regulatory and conduct compliance risks by:

• Ensuring that compliance risks are identified, mitigated, remediated and reported on.

• Providing subject matter expert advice and guidance to the business on all matters relating to

regulatory and compliance risk.

• Driving engagement on the subject of regulatory compliance and conduct culture at all levels

up to and including MBFS’ Senior Leadership Team including Senior Management Function

holders.

ACCOUNTABILITIES (6-10 single sentence statements)

PERCENTAGES

You are required to maintain ethical standards in accordance with Mercedes-

Benz Mobility AG Policies and the Company's Compliance Guidelines and

Policies including Anti-Bribery and all relevant competition law. -

People Leadership:

• Lead and support a team of Compliance Executives responsible for day-to-

day advisory and ongoing business change and project delivery

• Develop the team against individual performance toolkits, their own

personal development plans, together with the MBFS business strategy.

• Ensuring outlined and clear objectives, development reviews and monthly

1-2-1 meetings and coaching sessions.

• Provide the team with access to the outcomes provided for in MBFS’

Management and Leadership Charters.

15

Regulatory advice:

• Lead a team providing specialist regulatory and compliance advice

• Promote a compliance culture throughout the business, influencing

stakeholders, including SMF holders and other senior managers, to deliver

compliant products and services which deliver good customer outcomes,

including but is not limited to:

30

Internal

• general ad-hoc advice

• reviewing and approving financial promotions and other internal and

external communications

• assessing and advising on internal regulatory breach reporting

• advising on remedial actions needed in response to 1st, 2nd and 3rd line

business assurance reporting

• supporting effective complaint root cause analysis and associated business

change

Ongoing process and policy review:

• Lead on the periodic review of MBFS policies and procedures to ensure

continuing compliance with and consistency with applicable FCA or MBM

AG requirements.

10

Horizon scanning and regulatory change:

• Lead the Conduct Compliance Team’s contribution to a monthly legal and

regulatory update to the wider MBFS business, identifying, describing and

providing relevant commentary on regulatory change relevant to MBFS.

• Lead on gap analysis and the identification and description of operational

impacts and other key risks by reviewing and interpreting consultation

papers, policy statements and other FCA publications.

• Lead on the advisory component of the MBFS business change process

prompted by those gap analyses and impact assessments.

30

Control and governance

• Improve and implement internal controls and reporting mechanisms that

support consistent service levels and quality output from the advisory

team.

10

Senior Managers & Certification Regime:

• Lead the advisory component which maintains a compliant SM&CR

framework. Advise Senior Management function holders on their

responsibilities for complying with their regulatory obligations. Assist in

managing regulatory applications and notifications ensuring regulatory

timescales are met.

• Assist in all processes aimed at ensuring the MBFS Management

Responsibilities Map is accurate and up to date.

5

TOTAL

100%

KEY SKILLS/KNOWLEDGE/EXPERIENCE

• Comprehensive working knowledge of FCA principles, rules, handbook and non-handbook

guidance, codes of practice and any other requirements and standards of the FCA’s

regulatory system relevant to MBFS’ consumer credit business.

• Working knowledge of the FCA’s requirements as they apply to general insurance distribution,

including but not limited to the ICOBS and PROD sourcebooks

• Works in a collaborative way in projects and other multi-departmental activities, providing

advice to jointly achieve effective results.

• Ability to carry out multiple tasks and prioritise challenging workloads to plan and deliver

work effectively.

• Able to work within policies and procedures to deliver allocated departmental objectives.

• Excellent communication skills and an ability to engage with a range of stakeholders including

members of MBFS’ Senior Leadership team.

Internal

• Strong analytical skills which are applied to assist in drawing conclusion from complex data.

• Engage with and understand MBFS’ commercial objectives and to assist the business to

understand the conduct and compliance context to influence decision making in the interests

of the business and its customers.

• Able to provide technical support and coaching to colleagues.

ORGANISATION CHART/DEPARTMENTAL STRUCTURE

ADDITIONAL INFORMATION

This role reports to the Chief Compliance Officer.

DIMENSIONS (Use only those applicable) This section covers measurable items such as staff reports and income generated. It should only be

used if appropriate i.e.: “5 direct reports, 3 indirect reports”. Direct Budget is defined as being

responsible for setting and managing a departmental budget; Indirect Budget includes, for example,

supporting a department’s budget/having discretion over trading allowances/helping to achieve

Warranty Budget.

Number of Direct Reports: 2 – (Two) Direct Budget: £ n/a

Indirect Staff Reports: 0 – (none) Indirect Budget: £ n/a

Job Description

JOB DETAILS

Job Title: Conduct Compliance Executive

Department: Business Compliance

Reports to: Lead Conduct Compliance Manager

Grade: 6

Date: April 2024

KEY PURPOSE OF THE JOB

The Business Compliance team is an independent regulatory and compliance advisory and assurance

function for Mercedes-Benz Financial Services (UK) Ltd (MBFS) and its Appointed Representative. The

role holder will also contribute to the provision of a regulatory compliance service to Mercedes-Benz

Insurance Services (UK) Ltd (MBIS).

This role acts as a primary point of contact between MBFS’ Business Compliance (second line of

defence) and MBFS’ wider business. The primary purpose of the role is to manage regulatory and

conduct compliance risks by:

• Identifying forthcoming changes to the regulatory framework relevant to MBFS or MBIS

• Ensuring compliance risks are identified, mitigated, remediated and reported on.

• Providing subject matter expert advice and guidance on all matters relating to regulatory and

compliance risk.

• Co-ordinating the completion of regulatory and other returns and information requests across

the business as requested by the Financial Conduct Authority (FCA) and where necessary,

with Mercedes-Benz Mobility AG.

• Driving engagement on the subject of regulatory compliance and conduct culture at all levels

up to and including MBFS’ Senior Leadership Team including Senior Management Function

holders.

ACCOUNTABILITIES (6-10 single sentence statements)

PERCENTAGES

You are required to maintain ethical standards in accordance with Mercedes-

Benz Mobility AG Policies and the Company's Compliance Guidelines and

Policies including Anti-Bribery and all relevant competition law. -

Regulatory advice and support:

• Provide specialist regulatory and compliance advice and promote a

compliance culture throughout the business, influencing stakeholders,

including SMF holders and other senior managers, to deliver compliant

products and services which deliver good customer outcomes.

• Manage regulatory risk by working with business areas to cultivate and

maintain key relationships to enable the provision of proportionate and

appropriate advice on relevant regulations and business policies and

processes whilst supporting commercial strategy. This includes but is not

limited to general query advice, reviewing and approving financial

promotions, assessing regulatory breaches and incidents and supporting

key business projects.

30

Monitoring and review:

• Assist in the design, establishment and implementation of the Compliance

Monitoring plan, to oversee the first line of defense controls in line with the

regulatory risk cycle. Assist in updating and maintaining the MBFS conduct

risk assessment matrix, taking into consideration existing and emerging

regulatory risks and developments.

• Where required, conduct allocated compliance monitoring reviews in line

with the Compliance Monitoring Review framework including collaborating

with stakeholders to gather information for analysis, testing, producing

reports on the findings of monitoring activity and developing a plan to

mitigate identified risks. Lead on engagement with business management

to discuss findings, recommendations and where needed actions that drive

improvement.

30

Ongoing process and policy review:

• Assist in the periodic review of MBFS policies and procedures to ensure

continuing compliance with and consistency with applicable FCA or MBM

AG requirements.

10

Horizon scanning and regulatory change:

• Contribute to a monthly legal and regulatory update to the wider MBFS

business, identifying, describing and providing relevant commentary on

regulatory change relevant to MBFS.

• Assist on identifying operational and describing operational impacts and

other key risks by reviewing and interpreting consultation papers, policy

statements and other publications

• Assist in appropriate gap analysis and any other work necessary to timely

and effective implementation.

10

Regulatory and internal reporting:

• Manage all regular reporting requests from the FCA and any internal Audit

requests. Collaborate with colleagues across business to co-ordinate

requests and responses to compile comprehensive responses are

submitted in line with deadlines.

• Lead on FCA information requests; collaborating with and overseeing the

business to ensure comprehensive responses are provided within

deadlines and that the Local Management Board is kept informed about

any requests made and any implications/risks arising.

• Contribute to the production of the Business Compliance Conduct Risk

Dashboard and any other internal reporting as necessary.

10

Senior Managers & Certification Regime:

• Contribute to the maintenance of a compliant SM&CR framework. Advise

Senior Management function holders on their responsibilities for complying

with their regulatory obligations. Assist in managing regulatory applications

and notifications ensuring regulatory timescales are met.

• Assist in all processes aimed at ensuring the MBFS Management

Responsibilities Map is accurate and up to date.

10

TOTAL

100%

KEY SKILLS/KNOWLEDGE/EXPERIENCE

• Strong working knowledge of FCA principles, rules, handbook and non-handbook guidance,

codes of practice and any other requirements and standards of the FCA’s regulatory system

relevant to MBFS’ business.

• Working knowledge of the FCA’s requirements as they apply to general insurance distribution,

including but not limited to the ICOBS and PROD sourcebooks

• Capacity for collaborative multi-departmental working, providing advice to jointly achieve

effective results.

• Ability to carry out multiple tasks and prioritise challenging workloads to plan and deliver

work effectively.

• Ability to work within policies and procedures to deliver allocated departmental objectives.

• Excellent communication skills and an ability to engage with a range of stakeholders including

members of MBFS’ Senior Leadership team.

• Strong analytical skills which are applied to assist in drawing conclusion from complex data.

• Engage with and understand MBFS’ commercial objectives and to assist the business to

understand the conduct and compliance context to influence decision making in the interests

of the business and its customers.

• Able to provide technical support and coaching to colleagues.

ORGANISATION CHART/DEPARTMENTAL STRUCTURE

ADDITIONAL INFORMATION

This role reports to the Lead Conduct Compliance Manager.

DIMENSIONS (Use only those applicable) This section covers measurable items such as staff reports and income generated. It should only be

used if appropriate i.e.: “5 direct reports, 3 indirect reports”. Direct Budget is defined as being

responsible for setting and managing a departmental budget; Indirect Budget includes, for example,

supporting a department’s budget/having discretion over trading allowances/helping to achieve

Warranty Budget.

Number of Direct Reports: 0 – (none) Direct Budget: £ n/a

Indirect Staff Reports: 0 – (none) Indirect Budget: £ n/a