Regulatory Monitoring Reviewer | ICAS
Location: Home-based with travel
Salary: £44,000 - £57,500 (depending on experience) plus car allowance
Interested in this role?
ICAS is a global professional body for Chartered Accountants, we educate, examine and lead, enabling excellence whilst always working for the wider public good. Formed by the Royal Charter in 1854, we have trained a lot of CAs since then, and in any given year thousands of students are working with us to achieve the ‘chartered’ goal. We have a membership of 23,000 qualified CA’s, a qualification that has shaped an international business community spanning industries and continents.
About the opportunity
The Regulatory Monitoring Reviewer (RMR) is central to the regulatory monitoring processes operated by ICAS ensuring that regulated individuals and firms meet the standards reasonably expected of them, and otherwise fulfil their legal and regulatory obligations. This allows ICAS to protect its reputation, the reputation of the accountancy profession, as well as the public interest.
The RMR must ensure that all regulatory monitoring is undertaken in accordance with ICAS’ internal processes and regulations, whilst also meeting various performance measures, whether set by ICAS or third parties. Such measure include:
- Report turnaround timescales
- Quality of reports and gradings
- Efficiency on visits
- Feedback forms from firms following visits.
- RMR’s will conduct both onsite and remote monitoring visits to individuals and firms, complete due diligence, produce reports and provide feedback, advice, and guidance on how to resolve any issues identified.
The level of technical knowledge required is extensive and wide-ranging, with an expectation from firms that the reviewer will be knowledgeable in many areas and can guide them in the right direction.
Who we need
We are looking for a qualified accountant, educated to a degree level, and experience of working in an accountancy practice, preferably at manager, senior manager or principal level, as well as knowledge of UK GAAP, IFRS, AML and tax.
A clear understanding of the general practice environment and a sympathetic understanding of the significance of quality assurance in that environment would also be preferable.
As RMR you will have great people and stakeholder management skills with an ability to build and develop positive relationships with firms and individuals. These skills coupled with a clear and confident communication style (both written and oral) will enable you to, where necessary, deliver difficult messages to firms and individuals where you may have discovered areas of non-compliance, or a lack of competence and integrity.
The key decisions within the role primarily relate to the conduct of monitoring visits, where there is a constant requirement to conclude on the quality of work performed by a firm, or an individual, and the implications of this for reporting to the Authorisation Committee. These decisions have a direct impact on the continuing practice of a firm, and the livelihood of an individual.
These decisions can range from the grading given to a file and a visit, and to the proposed follow-up action to be concluded on by the Authorisation Committee.
- Managing Regulatory Monitoring Team ensuring that all regulatory monitoring visits are planned, undertaken, and followed up
- Identifying, pursuing and actioning appropriate improvement initiatives
- Contributing to (and where appropriate, leading) the development and implementation of the ICAS Regulatory Plan, driving innovation
- Key report into the Authorisation Committee and Regulation Board, and main point of contact for oversight regulators in respect of monitoring issues
- Budget-holder for the regulatory monitoring function, with associated responsibilities
- Key contact with other professional accountancy bodies in respect of regulatory monitoring and associated issues, including attendance at meetings and membership of forum groups
- Responsible for the communications strategy, ensuring that all content is relevant, informative, and accessible
- Devising and supporting developmental regulatory initiatives to promote high standards across ICAS’ regulated population, working closely with the wider Regulation team
- Identifying, pursuing and actioning appropriate commercial opportunities for ICAS to outsource the knowledge, skills and experience of the Regulatory Monitoring Team
- ICAS places equality, diversity, and inclusion at the heart of all that we do. With our partner organisations, we are committed to building a diverse membership and workforce that is beneficial for all, and that enables our communities to learn, grow and advance together.
Please note candidates should have a full UK driving Licence, and be willing to travel and spend some time away from home
ICAS places equality, diversity, and inclusion at the heart of all that we do. With our partner organisations, we are committed to building a diverse membership and workforce that is beneficial for all, and that enables our communities to learn, grow and advance together.
Please note however we are not an institute that can provide sponsorship, therefore a valid right to work in the UK is required for this role.
IMAGINE. BELIEVE. ACHIEVE
What to do next
Please send your CV and covering letter to email@example.com by Tuesday 1 March.