The Compliance department consists of three primary areas.

• Policy & Guidance
• Assurance & Oversight
• Reporting, Communication & Regulatory Liaison

Policy & Guidance

The Policy & Guidance team  provide the business with consultancy and technical advice on all aspects of regulation and voluntary code requirements attaching to Nationwide’s products.

They also  input both internally and externally to the  development of new regulation/codes which impact upon Group retail products.

Assurance & Oversight

Thematic & Distribution Review

The Thematic & Distribution Review team provide objective assurance across the Nationwide Group that our internal controls, for regulatory compliance are effective.  Their activities include:

• reviewing operational processes, relating to regulatory areas such as Anti Money Laundering, Dispute Resolution and Training & Competence to Governance and Systems and Controls
• providing assurance at the point of sale of regulated products across all of Nationwide’s distribution channels. conducting remote monitoring of supervision and controls, and more complex compliance investigations when required

Financial Promotions

The team review financial promotions to ensure they are ‘clear, fair and not misleading’ and meet regulatory requirements.

Reporting, Communication & Regulatory Liaison 

The Reporting, Communication & Regulatory Liaison team drive effective management of regulatory risk, and assist the business to maintain risk appetite by monitoring, challenging and holding them accountable for their regulatory risk management activities.

The team also have primary responsibility for identifying regulatory change and developments, and for managing the relationship with our regulators.
Regular reporting is made to Executive Directors and management committees.  

Managing Consultants - Managing Consultants  provide compliance advice, expertise and oversight to a specified area. You will be required to organise the provision of expert technical advice for all Group wide business areas, to ensure that all process, policies and products meet regulatory requirements, and to ensure significant issues are identified and then reported to our regulators, as required. You will be responsible for supporting business areas in the event of any regulatory incident.

This role requires building a professional working relationship with major stakeholders both internally and externally to support Nationwide in the delivery of its corporate objectives. The Managing Consultant will need to assist business areas in applying compliant but commercial solutions to business requirements.

Senior Compliance Consultants (operating in both Policy & Guidance and Assurance & Oversight Teams):

Policy & Guidance team

A typical role in Policy & Guidance team would involve the following:

• To liaise with Nationwide business units to ensure accurate understanding and to enable practical implementation of regulatory requirements
• To provide regulatory guidance/support in product and policy developments and within agreed parameters sign-off final business requirements
• Maintain in-depth knowledge of regulatory development in the Financial Services industry, compliance controls and MI requirements and translate these into internal policies
• Maintain in-depth knowledge of processes and procedures in product and distribution channels

Thematic & Distribution Review team

A typical role in the Thematic & Distribution Review team would involve the following:

• Plan and deliver reviews or allocated review work to a high quality, in accordance with agreed scope and in compliance with the review methodology
• Contribute to improving focus/efficiency of planned work, raising suggestions with lead reviewer and manager
• Complete review work on time and within agreed budget
• Take full responsibility for producing clear, comprehensive and concise terms of reference documents, review working papers and draft reports for manager review
• Raise and document control issues and track resolution including follow up work
• Present findings to senior management and agree appropriate actions
• Develop and maintain professional business relationships with key contacts up to senior management level in defined areas of the business.

We are looking for certain qualities that will really set you apart and make you right for us. These are the qualities that make sure we put our members first and exceed expectations time after time. In particular we look for:

• Excellent communication skills, written and verbal
• Organisation and planning/time management
• Proven negotiating, facilitation and influencing skills
• Ability to coach and give feedback to members when acting in a lead reviewer capacity
• Ability to act objectively and maintain independence
• Analytical skills – understand and interpret business knowledge in a range of business areas
• Ability to comprehend and assimilate information rapidly whilst working in diverse complex business areas, and to work with business management to agree pragmatic and innovative solutions to regulatory issues

In addition to these skills, the following qualifications and experience would be preferred:

• Relevant professional qualification  (e.g. ICA Compliance Certificate/Diploma or IIA  Certificate);
• Minimum 2 years Compliance or  Audit experience, preferably in a financial services environment
• Good knowledge of regulation and how it is applied in financial services

The Compliance department is mainly based at our Swindon Head Office although some of our team also work at our Northampton Administration centre.