Compliance Monitoring Officer

LHV Bank Limited is a UK-licensed bank operating across three core business segments: Retail Banking, SME Lending, and Banking Services (BaaS). The bank is a wholly owned subsidiary of LHV Group, a listed financial services provider headquartered in Estonia. LHV Bank operates under a full UK banking licence granted in May 2023.

The Bank supports over 200 fintech clients with embedded financial infrastructure, provides retail savings products via digital channels, and offers SME credit solutions across the UK. In line with its regulatory responsibilities and growth ambitions, LHV Bank is committed to maintaining a robust and proportionate financial crime control environment.

Expanding our services, LHV Bank now provides personal banking solutions. Our offerings include current accounts with competitive interest rates, fixed-rate bonds for long-term savings, and debit cards.  Customers can conveniently access these services through the LHV App, enabling secure account opening and management.

The role reports directly to the Head of Compliance Monitoring (HoCM) and works independently while collaborating with colleagues in the AML/Fraud and Compliance teams to support the Chief Compliance Officer (CCO) in developing and implementing the compliance agenda for LHV Bank.

The Compliance Monitoring Officer (CMO) supports the HoCM in delivering the risk-based Regulatory Compliance Monitoring Programme (CMP), which provides independent 2nd line assurance to senior management and the Board that the Bank is operating within its compliance risk appetite and in line with applicable UK regulatory requirements and conduct expectations.

The role requires flexibility, sound judgement and the ability to operate effectively across multiple business lines.

We require a range of complementary skills and are seeking candidates with sufficient experience across some or all of the business areas noted below.

The Compliance team is comprised of ten team members. The Chief Compliance Officer has four direct reporting lines, namely the Money Laundering Reporting Officer (MLRO), Regulatory Compliance Manager (Advisory) and the Compliance Monitoring Manager.

This role provides an opportunity for career progression for a compliance professional seeking to deepen their experience in 2nd line monitoring and gain further breadth and depth across retail banking, payment services and SME lending. The role provides exposure to senior governance reporting and cross-product regulatory risk assessment.

Key Purpose

• Undertake independent 2nd line compliance monitoring activities as part of the risk-based CMP;
• Support the with the development and continuous enhancement of compliance monitoring methodology, practices and data-led testing techniques;
• Support the HoCM and in embedding and evidencing a strong compliance culture across the organisation.

Responsibilities include but are not limited to:

• Undertake monitoring reviews as directed within the scope of the CMP across the Bank and relevant third-party providers and outsourced arrangements, ensuring alignment with and outsourcing governance expectations;
• Provide independent oversight and challenge of 1st line controls, including those relating to AML, counter-terrorist financing, sanctions and fraud risk, in collaboration with relevant subject matter experts;
• Accurately assess and risk-rate issues identified, clearly articulating root cause, impact and regulatory implications to enable effective prioritisation and remediation;
• Maintain awareness of broader conduct risk and regulatory developments, including Consumer Duty obligations, and assess customer outcomes, fair value considerations and distribution arrangements where relevant;
• Produce clear, concise and evidence-based reporting of findings to the HoCM and relevant business stakeholders, enabling appropriate and timely remedial actions;
• Escalate material or significant issues to the HoCM and through appropriate governance forums where required, ensuring timely visibility of emerging risks;
• Support the HoCM in tracking progress of the CMP, monitoring remediation actions to completion, and providing structured updates to the CCO, Executive Committees and Board Committees as required;
• Ensure records of monitoring activity, findings and agreed actions are maintained to an appropriate evidential standard;
• Assist in the development of monitoring techniques through effective use of data, MI and technology, seeking opportunities to enhance automation, sampling methodologies and thematic analysis;
• Deliver constructive challenge through positive stakeholder engagement, maintaining professional independence while fostering effective working relationships;
• Effectively plan and manage assigned reviews to ensure delivery of the CMP within agreed timelines, escalating resourcing or delivery risks at an early stage;
• Where required, support the HoCM, CCO and/or Chief Risk Officer in regulatory reviews, investigations or thematic work with potential conduct risk impact;
• Work collaboratively across the Compliance function to ensure alignment between advisory, monitoring and financial crime oversight activities;
• Support employee education and awareness initiatives on compliance-related matters, reinforcing accountability and ownership within the 1st line;
• Provide pragmatic, risk-based solutions to compliance issues while maintaining appropriate regulatory standards.

Minimum Job Eligibility Requirements

• Experience within a banking or financial services environment.
• Experience undertaking compliance monitoring or assurance activity under delegated authority, ideally within a UK-regulated bank.
• Working knowledge of key compliance topics relevant to LHV Bank’s business model.
• Understanding of Consumer Duty, Treating Customers Fairly and broader conduct risk frameworks.
• Experience in report writing and presenting findings clearly to stakeholders.
• Ability to analyse data and develop MI to support monitoring activities; experience utilising technology to enhance oversight is desirable.
• Evidence of ongoing professional development; relevant professional qualifications (e.g. ICA, CISI or equivalent) desirable.

Key Relevant Business Areas and Regulatory Frameworks

• Payment Services, including banking-as-a-service models.
• Merchant acquiring and card issuing, including payment scheme rules.
• Safeguarding and client money arrangements.
• Commercial lending, including broker-distributed secured lending.
• Retail banking, including deposit aggregators and depositor protection requirements.
• Consumer lending.
• Outsourcing and third-party risk management frameworks.

Skills and Attributes

• Self-motivated and capable of working independently.
• Strong planning and organisational capability.
• Analytical and risk-focused mindset.
• Pragmatic approach to identifying proportionate solutions.
• Collaborative team player with strong stakeholder management skills.
• Professional confidence to provide constructive challenge.
• Accountable for decisions and actions, while respecting governance structures and professional responsibilities.

This role may involve infrequent travel to LHV Bank offices, including Tallinn, Manchester and Leeds.

Some of our benefits (only applicable to UK based roles) 

• Competitive salary &lots of opportunities to learn, grow and progress professionally.
• Open and inclusive culture.  
• Hybrid working.
• Fantastic offices and great working environment.
• Vitality Health Plan (includes private health insurance, travel insurance, gym discounts) 
• Health cash Plan (Medicash health plan Level 3)
• 6% employer pension contribution.
• Life assurance – 4 x salary.
• Income protection insurance – 75%  
• 28 days holiday plus 3 additional days, & further days for various key life events as well as the opportunity to sell up to 5 days per calendar year.
• Swap public/bank holidays each year for alternative days that align with your personal, cultural, or religious observances. 
• Enhanced family friendly and family forming policies.
• Access to a wide range of retail discounts. 
• Team Socials.