Compliance
Compliance advises the business on the laws and regulations that monitor the financial markets. It is responsible for guiding and training the business on regulatory changes, creating policies and procedures that comply with the laws and regulations and monitoring their implementation.
Increasingly, as regulations change and standards of practice become more rigorous, Compliance has become an important function in any bank and offers a fast-paced and challenging career.
Within WestLB, Compliance Officers are specialised. Although there is a central compliance function, which covers staff training, registering and de-registering of affected employees and policy creation, Officers also cover specific business areas. In order to do this, these Officers need to develop a deep understanding of the areas they support and understand the challenges they face, so that they are able to use their specialist product knowledge to advise and guide their clients.
Compliance’s core functions include:
- Ensuring the Bank does not breach its regulatory obligations
- Ensuring the best execution of business
- Ensuring fair treatment of customers
- Preventing insider dealing and market abuse or managing of conflicts of interest