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About the Role

RiverStone is seeking an experienced and commercially minded Compliance Director to lead the Compliance function for RiverStone’s UK insurance activities. The role holder will serve as both the approved SMF16 (Compliance Oversight) and SMF17 (Money Laundering Reporting Officer), with responsibility across the full spectrum of Compliance and financial crime activities. This is a lean senior leadership position, supported by a small team structure, requiring the candidate to independently drive strategic and operational Compliance activities.

Responsibilities

Lead and manage the RiverStone UK Compliance function, ensuring it operates as an effective and independent second line of defence.
Develop and execute the UK Compliance strategy, objectives and annual priorities.
Maintain a robust Compliance framework aligned to UK regulatory requirements and Group standards.
Foster a positive compliance culture across the organisation.
Build and maintain strong working relationships with business leaders, SMFs, control functions and Group stakeholders.
Lead, coach and develop members of the Compliance team.
Support RiverStone's continued growth and evolution by providing practical, risk-based regulatory guidance and oversight.
Fulfil all regulatory obligations associated with the SMF16 Compliance Oversight function.
Establish, maintain and oversee an effective UK Compliance framework aligned with the overall Group Compliance framework.
Advise the UK Board, Executive Committee and Senior Managers on regulatory obligations and compliance risks.
Maintain a comprehensive, risk-based Compliance Risk Assessment covering all applicable legal and regulatory requirements.
Lead the identification, assessment and escalation of compliance risks and control weaknesses.
Maintain effective horizon scanning arrangements to identify emerging regulatory developments and assess business impact.
Oversee implementation of regulatory change requirements and support business readiness activities.
Support the operation of the Senior Managers & Certification Regime ("SMCR"), including fitness and propriety assessments, Statements of Responsibilities and Maintenance of the Management Responsibilities Map.
Maintain oversight of conflicts of interest, conduct risk, whistleblowing arrangements, policy governance and regulatory training programmes.
Ensure effective oversight of third-party and outsourcing arrangements from a Compliance perspective.
Fulfil all regulatory obligations associated with the SMF17 Money Laundering Reporting Officer function.
Maintain and oversee RiverStone UK’s Financial Crime framework, including anti-money laundering, sanctions, anti-bribery and corruption, fraud and related financial crime controls.
Establish relevant financial crime policies, standards, risk tolerances and escalation requirements consistent with the framework.
Review and assess financial crime escalations and significant investigations.
Maintain effective Suspicious Activity Reporting processes and fulfil statutory reporting obligations.
Lead the production of the annual MLRO Report and associated Board reporting.
Own and maintain the Business-Wide Risk Assessment ("BWRA").
Provide UK oversight of customer due diligence, sanctions screening, politically exposed person ("PEP") processes and adverse media arrangements.
Monitor financial crime regulatory developments and ensure effective implementation of changes.
Act as RiverStone UK’s principal Compliance contact for the PRA, FCA and Lloyd's, in conjunction with the UK CEO.
Maintain constructive, transparent and professional relationships with regulators.
Coordinate regulatory notifications, submissions and responses to regulatory enquiries.
Lead UK Compliance input into regulatory reviews, inspections and thematic assessments.
Provide regulatory guidance to senior management on the implications of new and emerging regulatory requirements.
Coordinate with Group Compliance on material regulatory matters and issues impacting multiple jurisdictions.
Develop and maintain a risk-based UK Compliance Monitoring Plan aligned to regulatory risk assessments.
Oversee compliance monitoring, testing and thematic review activities.
Ensure findings are effectively reported, tracked and remediated in a timely manner.
Provide independent assurance to the UK Boards and Executive Management regarding the effectiveness of key compliance controls.
Maintain oversight of complaints management arrangements and review escalated complaints.
Ensure meaningful management information is produced to support effective decision-making and risk management.
Produce high-quality reporting for the UK Boards, Executive Committee and relevant governance forums.
Prepare and present the annual MLRO Report, Whistleblowing Report and other governance reporting.
Escalate significant regulatory risks, breaches and control concerns appropriately and in a timely manner.
Support effective governance through clear articulation of risks, emerging trends, remediation activity and regulatory developments.
Ensure regulatory risks and compliance issues are accurately reflected within UK Board and Committee reporting.
Maintain UK Compliance policies, standards and procedures, ensuring they remain aligned with applicable regulatory requirements and the Group’s overall approach to policy maintenance.
Support the periodic review and approval of Compliance-related policies and standards.
Contribute to Group-wide policy governance and policy refresh activities.
Maintain UK Compliance operating procedures and supporting documentation.
Lead Regulatory Horizon Scanning activities and maintain oversight of regulatory change initiatives.
Deliver and oversee Compliance training and awareness programmes tailored to UK regulatory requirements.
Provide Compliance advice and challenge in relation to strategic initiatives, acquisitions, business change and operational developments.
Support business leaders in identifying practical and proportionate solutions to regulatory issues.
Act as a trusted adviser to the UK Boards, Committees and Senior Management on regulatory strategy, governance and conduct matters.
Promote a culture where Compliance is viewed as a valued business partner and enabler of good customer and regulatory outcomes.

Requirements

Substantial experience acting as Head of Compliance, Compliance Director, Chief Compliance Officer or equivalent within a PRA and FCA regulated insurance environment.
Holding, or being assessed as suitable to hold, SMF16 and SMF17 responsibilities.
Leading Compliance functions within insurance, reinsurance or Lloyd's market organisations.
Significant experience designing, implementing and operating Financial Crime frameworks and MLRO responsibilities.
Managing regulatory relationships with the PRA, FCA and Lloyd's.
Delivering Board, Executive Committee and governance reporting.
Operating Compliance Monitoring and Assurance programmes.
Supporting SMCR governance and Fitness & Propriety processes.
Providing strategic regulatory advice to senior management and Boards.
Leading and developing Compliance teams within complex regulated environments and in the context of an overall regulated Group.
Direct experience within the Lloyd's market and managing agency environment.
Supporting insurance acquisitions, portfolio transfers and other strategic transactions.
Operating within international insurance groups.
Managing Compliance within a run-off or legacy insurance business.
Implementing technology-enabled governance, risk and compliance solutions.
Working within evolving or transformation-led organisations.
Highly credible with regulators, Boards and senior stakeholders.
Strong leadership, influencing and stakeholder management skills.
Commercially aware and pragmatic while maintaining independence and objectivity.
Excellent judgement and risk-based decision-making capability.
Strong verbal and written communication skills.
Ability to distil complex regulatory requirements into practical business actions.
Collaborative and relationship-focused leadership style.
Resilient, adaptable and effective within evolving and dynamic business environments.
Committed to maintaining the highest standards of integrity, professionalism and conduct.

Skills

Compliance Oversight
Money Laundering Reporting
Regulatory Risk Management
Compliance Monitoring
Regulatory Engagement
Governance
Financial Crime Oversight
Conduct Oversight
Complaints Oversight
Regulatory Change Management
UK Insurance Regulation
Financial Crime Requirements
PRA Regulation
FCA Regulation
Lloyd's Regulation
Regulatory Judgement
Leadership
Commercial Support
Financial Crime Frameworks
MLRO Responsibilities
SMCR Governance
Fitness & Propriety Processes
Strategic Regulatory Advice
Team Leadership
Stakeholder Management
Risk-Based Decision Making
Communication Skills
Policy Governance
Horizon Scanning
Training and Awareness Programmes

Location

Work Type

Hybrid
Full-time

Experience Level

Senior
Director Level

Benefits

Private Medical and Dental cover
Health and Wellness programs including Employee Assistance Programme, Headspace subscription, Mental Health First aiders, funded counselling sessions, annual health check-up and eye test voucher
Wellbeing Allowance
25 days’ holiday per year plus bank holidays and office closure on Christmas Eve
Holiday entitlement increases with length of service
Bonus scheme
Non-contributory defined contribution pension scheme
Life Assurance (10 x salary)
Permanent Health Insurance Scheme
Enhanced Parental Leave (Maternity, Paternity and Shared Parental Leave)
Company funding for professional qualifications
Volunteering and charity support including triple matching donations and paid volunteering days
Cycle To Work Scheme
Interest Free Travel Loan
Travel Insurance (business and personal)
Sports and Social committee

About the Company

RiverStone is a leading provider of run-off solutions for the insurance and reinsurance industry.

Equal Opportunity

RiverStone is proud to be a Disability Confident Employer. We are committed to providing an inclusive and accessible recruitment process and welcome applications from individuals of all backgrounds and abilities. Should you require any reasonable adjustments at any stage of the recruitment process, please let us know and we will work with you to support your needs.