Position title

Fractional Compliance Officer (SMF16) – Directly Authorised IFA

Description

FD Capital is recruiting an experienced, independent Compliance Officer to hold the SMF16 (Compliance Oversight) function on a fractional basis for a well-established, directly authorised independent financial advice firm. The firm is small and owner-managed, with a compact advice team and supporting administration staff. It does not hold client money, and the SMF17 (MLRO) function is held separately within the business.

This is a hands-on oversight role for someone who already works fractionally for smaller IFA and wealth firms and understands what proportionate, effective compliance looks like in an advice business of this size. You will be the firm's senior compliance lead and its main point of contact with the FCA on compliance matters. You will report directly to the directors and work closely with the advisers and administration team.

The role requires FCA approval as SMF16, and the firm wants to submit a complete application without avoidable delay. Applications are therefore only invited from candidates who have previously held SMF16 within a regulated IFA or financial advisory firm.

Responsibilities

Hold the SMF16 Compliance Oversight function and carry out the responsibilities set out in your Statement of Responsibilities under the Senior Managers and Certification Regime.
Design, maintain and deliver a proportionate, risk-based compliance monitoring plan for the firm.
Oversee advice quality, including risk-based suitability file reviews and ongoing advice service checks, and report findings and remediation to the directors.
Oversee the firm's Training and Competence scheme, including adviser competence, supervision and CPD.
Lead the firm's Consumer Duty framework, including outcomes monitoring, fair value assessments and the annual board report.
Review and approve financial promotions and client-facing communications.
Maintain the firm's compliance policies and procedures and keep them in line with FCA rules and guidance.
Oversee complaints handling, breach recording and regulatory notifications.
Track regulatory change, explain its impact clearly to the directors, and lead implementation where needed.
Oversee regulatory reporting and returns submitted through FCA RegData and Connect.
Provide regular compliance MI and reporting to the directors.
Work with the separately appointed SMF17 (MLRO) on the financial crime aspects of the compliance framework.
Act as the firm's principal point of contact with the FCA on compliance matters.

Qualifications

Essential: previously approved by the FCA as SMF16 (or CF10 under the former Approved Persons Regime) within a regulated IFA, financial planning or advisory firm.
Essential: an established, independent fractional or consultancy practice, with experience acting for smaller directly authorised IFA or wealth firms.
Essential: regulatory references covering the last six years either available or readily obtainable, so the FCA application can be submitted complete.
Essential: willingness to undergo a criminal records (DBS) check and the firm's fitness and propriety assessment.
Essential: no conflicts of interest that would prevent you taking on the SMF16 function for the firm, and full disclosure of any current SMF appointments.
Strong working knowledge of SM&CR, COBS, SYSC, Consumer Duty, T&C requirements and financial promotions rules as they apply to retail advice firms.
Practical experience of suitability file checking and running compliance monitoring programmes in an advice business.
A relevant professional qualification is desirable, such as the CII Diploma in Regulated Financial Planning, DipPFS, or the CISI Diploma in Investment Compliance.
The judgement to apply regulatory requirements proportionately in a small firm, and the confidence to challenge and advise the directors constructively.

Job Benefits

A long-term fractional appointment with a stable, well-run, directly authorised advice firm.
Flexible, largely remote working, with time commitment agreed in advance and scaled to the firm's needs.
Competitive day rate or monthly retainer, giving predictable income alongside your other appointments.
A clearly defined SMF16-only remit, with financial crime oversight sitting with a separately appointed MLRO.
Direct access to the firm's directors and a collaborative, compliance-minded culture.
Full support from the firm through the FCA approval process.

To apply, please send your CV to FD Capital, confirming the SMF16 approvals you have held, your current fractional appointments, your availability and your expected day rate or monthly fee.

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