- London, UK
London, UK
With an ambition for further growth across Europe and a core objective of delivering superior outcomes to our customers and clients, an exciting opportunity has arisen for a senior compliance professional to join our Compliance team. The successful candidate will lead engagement with Vanguard's European Distribution / FAS function, providing proactive advice and guidance on governance, regulatory compliance and conduct matters relevant to the strategic and operational priorities of the business, consistent with Vanguard's board approved risk-appetite. European Distribution teams are based in London, Dublin, Italy, Germany and other European locations proactive collaboration with colleagues in these locations is essential for the success of the role.
Senior Manager, Compliance Advice
Distribution
London
Compliance Advisory Specialist Supporting Vanguard Europe's Distribution
Vanguard's purpose is to take a stand for all investors, to treat them fairly and to give them the best chance of investment success. With a rapidly growing business in Europe, we are seeking a proactive, commercially minded, experienced Compliance advisor to partner with our Distribution business.
Vanguard's Europe Distribution team, or Financial Advisor Services (FAS) business, works with independent financial advisers, restricted network advisers, and discretionary wealth managers from a retail perspective, and asset managers and life insurance companies from a wholesale perspective. Having entered the European market in 2009, the FAS business has led Vanguard's stand-out performance in Europe, responsible for $175bn of AUM, and growing.
Summary of role
With an ambition for further growth across Europe and a core objective of delivering superior outcomes to our customers and clients, an exciting opportunity has arisen for a senior compliance professional to join our Compliance team. The successful candidate will lead engagement with Vanguard's European Distribution / FAS function, providing proactive advice and guidance on governance, regulatory compliance and conduct matters relevant to the strategic and operational priorities of the business, consistent with Vanguard's board approved risk-appetite. European Distribution teams are based in London, Dublin, Italy, Germany and other European locations proactive collaboration with colleagues in these locations is essential for the success of the role.
The successful candidate will additionally collaborate and support Compliance colleagues, for example those supporting Vanguard's D2C business, Compliance Monitoring, the Conduct and Ethics Office, and on activities to support timely engagement with our regulators.
This position will report directly into the Head of Business Compliance Advisory (UKPI and Distribution) and complement an existing team of expert and diverse compliance professionals supporting our European
business.
Our second line of defense Compliance Advisory team are trusted advisers, commercially minded and proactive in their understanding of Vanguard's mission, vison & strategy, and objectives. The role is necessarily broad, fast paced and demanding. Areas of focus will include development and ongoing product governance relevant to Vanguard's funds (Active, Index & ETFs, Multi-asset & ESG), Model portfolio services, Vanguard 365 (our digital home for advisor tools & content), consulting services to financial advisors and business development activity.
Our ideal candidate will have at least seven years relevant experience within a leading investment manager and will have a track record of providing proactive, commercial and value-adding regulatory advice to senior business leaders, in collaboration with Risk and Legal colleagues as required. The successful candidate will exhibit strong partnership, technical and relationship management skills, building trust with all stakeholders.
Core Responsibilities
- Provide the collective distribution function (Product, Sales, Client Services) with proactive guidance and advice in relation to Vanguard products (Vanguard distributes UK and Irish UCITS funds as well as wraparound services).
- Provide strategic and technical compliance input in business priorities including and participating, as required, in business development opportunities.
- Support and advise on the development and ongoing management of client services activities, which fully align with our responsibilities to potentially vulnerable consumers and overall consumer duty responsibilities, in addition to supporting our vision.
- Support and advise on the development of appropriate third party oversight activities.
- Build and maintain stakeholder relationships with colleagues in the Product Team (PRD), Distribution (Sales, Client Services) and other members of the Office of the General Counsel (Compliance, Legal, Investment Stewardship and Government Relations).
- Provide regulatory advice at the early stage of initiatives taking into consideration products and services, target markets, costs and charges, distribution strategy, information required by distributors.
- Ensuring control frameworks in place are regularly reviewed and updated, including supporting the maintenance of relevant policies.
- Provide timely input to regulatory queries or requests in relation to European distribution
- Participate in special projects and perform other duties as assigned.
- Attend industry association working groups on incoming regulations and use information gained to support advice to projects/partners.
- Draft consultation responses, where appropriate, and advise on the writing of certain policies resulting from regulations.
- Contribute to the briefing/training of impacted business functions (and Boards) alongside your fellow OGC colleagues.
What it takes
- A minimum of 7 years related work experience, within a financial services investment compliance function.
- A curious mindset, commercial, tenacious, lateral thinking, proactive and relationship orientated.
- Strong knowledge of FCA handbook especially PROD and COBS sourcebooks, including product governance requirements for distributors
- Strong knowledge of FCA Consumer Duty (its impacts on the distribution chain) and outsourcing requirements (including Transfer Agency oversight)
- Understanding and awareness of distribution chains and models, with a working knowledge of Platforms as a distribution channel
- Undergraduate degree or equivalent combination of training and experience.
- Ability to work well as part of a team and/or independently.
- Maintain a deep knowledge and awareness of the investment industry. Stay abreast of current market, regulatory and industry relevant news, and represent Vanguard at industry forums.
Special Factors
- This position is hybrid and would require you to work in the office location Tuesday, Wednesday and Thursday.
How We Work
Vanguard has implemented a hybrid working model for the majority of our crew members, designed to capture the benefits of enhanced flexibility while enabling in-person learning, collaboration, and connection. We believe our mission-driven and highly collaborative culture is a critical enabler to support long-term client outcomes and enrich the employee experience.