Hong Kong Exchanges and Clearing Limited (HKEX)
Head of Control Assurance
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Head of Control Assurance Shift Pattern: Standard 40-Hour Week (United Kingdom) Scheduled Weekly Hours: 40 Corporate Grade: C - Vice President Reporting Line: (UK Division) Regulation and Compliance Location: UK-London Worker Type: Permanent
Overall Purpose: The role will be responsible for leading and executing a comprehensive monitoring and testing framework across the 2nd Line of Defence (2LoD) for the London Metal Exchange (LME) and LME Clear (LMEC).
The role is fundamental for ensuring:
- Robust oversight of controls
- Regulatory adherence (FCA, Bank of England (BoE))
- Effective risk management
The individual will leverage advanced data analytics to drive insight-led assurance, identify emerging risks, and enhance the effectiveness of the control environment.
Key Responsibilities
Framework & Governance
- Design, implement, and continuously enhance a risk-based monitoring and testing framework across 2LoD, ensuring alignment with:
- Regulatory expectations
- Internal governance standards
- Manage, maintain, and oversee the governance of the LME Group Compliance Monitoring and Testing Programme (M&T).
- Manage the annual M&T Plan
- Oversee governance documents and methodologies
- Update relevant committees on M&T progress
- Investigate and report potential issues, implementing mitigation plans for timely resolution
- Ensure risk-based testing of LME Group’s compliance and regulatory risks based on the annual plan, assessing:
- Existence of controls
- Effectiveness of controls
- Deliver end-to-end monitoring and testing activities:
- Control design
- Operational effectiveness
- Thematic reviews across key regulatory and risk areas
Collaboration & Risk Mitigation
- Partner with business, risk, and compliance teams to ensure:
- Effective remediation of findings
- Continuous improvement of controls
- Develop and execute data-driven testing strategies, utilizing advanced analytics to:
- Increase coverage
- Enhance efficiency
- Boost accuracy of assurance activities
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Three Lines of Defence (3LoD) Model
- Support the implementation of the Three Lines of Defence model by:
- Embedding compliance culture within the LME Group
- Ensuring business ownership of regulatory requirements (First Line)
- Work closely with business to ensure:
- Clear understanding and ownership of compliance obligations across:
- Business, operational, and technology areas
- LME/LME Clear functions
- Clear understanding and ownership of compliance obligations across:
Stakeholder Management & Training
- Provide support and training to the business on compliance obligations as necessary
- Present updates to:
- LME and LMEC Executive Risk Committee
- Executive Committee
- Audit Committee (where required)
- Collaborate with the HKEX (parent company) compliance team and other teams to:
- Align M&T processes
- Avoid duplication
- Streamline processes for business efficiency across LME and LME Clear
- Represent compliance at relevant internal and external working groups/committees
Leadership & Team Management
- Line-manage and lead Compliance Officers focused on LME Group Monitoring and Testing (currently two permanent staff)
- Provide leadership in driving:
- Professional development
- Best practices within the team
Knowledge & Experience Required
Financial Services & Regulatory Compliance
- Extensive experience in compliance-related roles within Financial Services
- Proven experience in monitoring, testing, or assurance roles within Risk and/or Compliance in a regulated environment
- Deep understanding of:
- Risk management frameworks
- Control environments
- Compliance requirements
- Strong knowledge of UK compliance requirements, particularly around:
- Testing of controls and procedures
Regulatory Focus
- Familiarity with regulatory landscapes of exchanges and clearing houses:
- EMIR
- MiFID
- MAR
- Benchmarks Regulation
- FCA Recognition Requirements for Recognised Investment Exchanges (REC) (Highly desirable)
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Data & Analytics Capability
-
Strong data analytics skills, including:
- Ability to analyze large/complex datasets to:
- Identify trends and anomalies
- Drive risk and compliance outcomes
- Ability to analyze large/complex datasets to:
-
Proficient in:
- SQL
- Advanced Excel
- Power BI
- Tableau
- Python
- (or equivalent experience)
-
Experience in:
- Developing dashboards and visualizations
- Automating reporting for risk-based decision-making
-
Ability to translate data insights into actionable risk and compliance outcomes
Skills Required
Core Competencies
- Analytical mindset with practical and methodical approach
- Excellent communication (written and verbal) skills
- Multi-tasking ability with capacity to prioritize and manage concurrent matters
- Strong problem-solving skills with a data-driven approach
- Interpersonal skills for effective stakeholder collaboration
Leadership & Attention to Detail
- Ability to:
- Work independently or collaboratively
- Tailor communication to diverse audiences
- High level of attention to detail
- Reasoned judgment in complex scenarios
- Line management skills to:
- Oversee professional development
- Foster good practices within the team
About the LME and HKEX
The London Metal Exchange (LME) is part of Hong Kong Exchanges and Clearing Limited (HKEX), a publicly-traded company (Stock Code: 388) and global exchange group. HKEX is dedicated to:
- Facilitating investor connection between China and the world
- Delivering equity, derivatives, commodity, fixed income, and financial markets products.
Core Values:
- Diversity and inclusion
- Equal opportunity employment
- Collaborative workplace
- UK and global leadership in financial markets
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