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Head of COBS & Mass Affluent Compliance, CCOR

Lloyds Banking Group
Edinburgh, United Kingdom
Closing date
23 Apr 2024

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Job Details

End Date
Monday 22 April 2024

Salary Range
£0 - £0

We support flexible working - click here for more information on flexible working options

Flexible Working Options
Hybrid Working, Job Share

Job Description Summary
LOCATION(S): Edinburgh, Glasgow, Leeds, Halifax, Chester, Birmingham, Bristol or Cardiff
HOURS: Full time
WORKING PATTERN: Our work style is hybrid, which involves spending two days per week, or 40% of our time at one of our Risk Hubs.

About this opportunity:

As the UK’s largest digital bank, with 27 million customers and 2.2 million shareholders, we’re looking to create a more sustainable and inclusive future for people and businesses, shaping finance as a force for good. This role will play a key part in supporting this transformation.

We’re on an exciting journey and there couldn’t be a better time to join us. We’re putting in place a fresh operating model for non-financial risk management across the Group, empowering our people to take end-to-end accountability for managing the risks that they face!

This means we’re changing how we do risk management, creating a team of risk specialists, to provide support aligned to our risk owners and control owners to deliver great customer outcomes!

We’re looking for a Head of COBS & Mass Affluent Compliance to lead and create a new function of talented compliance specialists that support the Group in adhering to all core regulatory requirements in relation to our Mass Affluent customers. Not only will you bring significant compliance experience, but we're looking for someone innovative and transformational who loves proactively working with business executives to develop new opportunities to better meet customers needs.

Job Description

  • Act as one of the Group’s most senior Conduct & Compliance Risk leads and represent the organisation, building strong relationships with external partners, in particular regulators and other governing bodies.
  • Ensure risks are measured, monitored, controlled, and reported on a timely basis and consistently across the Group, and provide independent challenge to risk decisions, as they relate to your specialism.
  • Interpret new and existing regulations accurately and adeptly. Highlighting the direction of travel and anticipating the impact of the proposed changes across the whole Group.
  • Owns and leads the technical compliance and conduct based advice across all COBs and Mass Affluent regulation including supporting Board and GEC level decision making.
  • Ensure there’s appropriate levels of independent second-line compliance traceability to provide independent verification that the Group is aligned with all relevant regulations.
  • Owns horizon scanning on retail regulations, plays an active role in shaping policy and ensures new requirements are considered in strategic decision making and implemented effectively.
  • Delivers high quality compliance risk assessments to support strategic change and ensures there is a ‘compliance by design’ attitude in place across business and own function.
  • Monitor adherence to policy and compliance to regulatory requirements. Provide appropriate reporting and escalation on the effectiveness of risk policies to senior management and Board.
  • Collaborate with risk and control owners to ensure first line actively own their compliance obligations and hold to account on delivery.
  • Accountable for the development of a regulatory engagement strategy with all relevant regulators for area of accountability.
  • Own and lead the definition/interpretation and the Group’s risk appetite in relation to relevant regulatory requirements.
  • Responsible for maintaining the balance between risk-taking and risk mitigation, defining and developing a clear and comprehensive risk appetite that outlines risk tolerances and risk limits.
  • Establish continuous monitoring and reporting of our evidence with compliance with this area.
  • Lead the definition and development of appropriate control objectives to deliver compliance with relevant regulations. Ensure that the Group’s business processes, systems and activities are conducted in a controlled and compliant manner. These objectives should be designed to manage and mitigate various risks, prevent errors, fraud, or non-compliance with regulations.
  • Support control owners to implement control measures that are designed to achieve the control objectives. Regularly monitor and validate the effectiveness of the design of control measures to ensure they are achieving the control objectives.
  • Provide support to risk and control owners to report incidents, exceptions, or non-compliance with control objectives. Take corrective action and implement changes when control objectives are not being met or when existing risks change and/or new risks emerge.

What you’ll need:
  • Evidence of being a strong technical expert in UK regulations that impact Retail customers with a specific expertise on the Conduct of Business Sourcebook (COBS), Product Intervention, Product Governance Sourcebook (PROD) and Consumer Duty Sourcebook. Recognised internally and externally as a Subject Matter Expert and capable of influencing regulatory policy on this.
  • Able to demonstrate depth to confidently provide credible advice and assurance on core compliance and regulatory obligations to support the business, Mass Affluent Platform and fulfil the mandate of the SMF 16.
  • Considered a deep subject matter expert internally and externally with a strong depth of understanding of the latest Compliance frameworks and technology being used across financial and non-financial services to enable you to lead a specialist risk centre of excellence.
  • Demonstrates expert knowledge of relevant laws, regulation, industry standards and established exemplar practice in technical subject area.
  • Experience of developing and owning group-level policy and setting risk-appetite, with expertise in continuous monitoring and reporting on group exposure.
  • Evidence of demonstrating good and timely decision making that keeps the organisation moving forward and skilfully balances difficult trade-offs with the ability to understand business strategy and opportunity risks.
  • Excellent leadership skills with evidence of coaching to go faster by demonstrating commitment to create an environment that builds teams with skills aligned to our Group Strategy and Purpose creating new and better ways for the organisation to change at pace.

And any experience of these would be really useful:
  • Excellent communication skills and the ability to influence at senior levels.
  • Inclusive working style that ensures everyone can be themselves in a safe environment.
  • Record of delivering results and an awareness of the importance of documentary evidence for key decisions.
  • Recognised internally and externally as a Subject Matter Expert and capable of influencing regulatory policy.
  • Examples to show how you have used your technical knowledge to ensure the business understands its compliance obligations, including successful oversight and challenge to ensure adherence to Compliance Risk Appetite.

About working for us:

Our focus is to ensure we're inclusive every day, building an organisation that reflects modern society and celebrates diversity in all its forms. We want our people to feel that they belong and can be their best, regardless of background, identity or culture. We were one of the first major organisations to set goals on diversity in senior roles, create a menopause health package, and a dedicated Working with Cancer initiative. And it’s why we especially welcome applications from under-represented groups. We’re disability confident. So if you’d like reasonable adjustments to be made to our recruitment processes, just let us know.

We also offer a wide-ranging benefits package, which includes:
  • A generous pension contribution of up to 15%
  • An annual performance-related bonus
  • Share schemes including free shares
  • Benefits you can adapt to your lifestyle, such as discounted shopping
  • 30 days’ holiday, with bank holidays on top
  • A range of wellbeing initiatives and generous parental leave policies

Want to do amazing work, that’s interesting and makes a difference to millions of people? Join our journey.

At Lloyds Banking Group, we're driven by a clear purpose; to help Britain prosper. Across the Group, our colleagues are focused on making a difference to customers, businesses and communities. With us you'll have a key role to play in shaping the financial services of the future, whilst the scale and reach of our Group means you'll have many opportunities to learn, grow and develop.

We keep your data safe. So, we'll only ever ask you to provide confidential or sensitive information once you have formally been invited along to an interview or accepted a verbal offer to join us which is when we run our background checks. We'll always explain what we need and why, with any request coming from a trusted Lloyds Banking Group person.

We're focused on creating a values-led culture and are committed to building a workforce which reflects the diversity of the customers and communities we serve. Together we’re building a truly inclusive workplace where all of our colleagues have the opportunity to make a real difference.


We’re creating an organisation that attracts, retains and develops the best talent in the industry, and one that openly embraces diversity too. But more than that – we want to be a great place to work. We invest in our people, offering the best training and coaching, and by encouraging them to contribute to our leading corporate and social responsibility practices. We offer flexible working hours and days, under our Work Options scheme. This means that you can have a challenging and rewarding career, and still have an ideal work/life balance.

Flexible working is at the heart of our strategy. We’re re-imagining where, when, and how our people work, with new approaches designed to meet the ever-changing needs of customers and colleagues. These include increasing our use of remote-working tools and technology, as well as placing less reliance on a 9-to-5 mindset. For many of our office-based colleagues, we work in hybrid ways which involves spending at least two days per week or 40% of their time at one of our office sites.

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