Compliance consultant based in Sussex providing risk management services to professional and financial services firms in connection with FCA authorisation, DPB authorisation and ISO standards.


My driving philosophy is that while external regulations must be satisfied, it is a mistake to be driven by them. Instead firms should start by looking at the characteristics of their business and ask "What are we already doing that could satisfy the rule?" and "What would be useful for us as a business?"

Analysing the business and then mapping onto the requirements will produce solutions that make sense for you and are efficient and effective.


About

 

Malcolm LeeMalcolm Lee has extensive experience in integrated risk management, covering financial services regulation, quality management and information security.

 

In financial services regulation he has held management positions as Compliance Officer and Money Laundering Reporting Officer under both the FSA/FCA regime and under the professional bodies DPB regime:

  • The History section of his page on the FS Register on the FCA website shows his formal roles since the creation of the FSA in 2001. Those roles include CF10 Compliance Officer, CF 11 Money Laundering Reporting Officer. He has been involved in risk management and compliance since 1992. From 1997 to 2008 he was a regular external speaker on the Financial Services and Markets Act at the Institute of Actuaries’ professionalism courses. He has managed eight inspection visits from multiple regulators.
  • Malcolm is experienced in the regulation of professional firms under the DPB regime. He has been Compliance Officer and MLRO (Money Laundering Reporting Officer) for DPB and APF (Authorised Professional Firm). From 2006 to 2019 he was a member of the Institute and Faculty of Actuaries’ DPB Board, which is the regulatory committee that authorises and regulates firms of actuaries under Section XX of the Financial Services and Markets Act 2000.

He has strong analytical and technical skills and enjoys taking external requirements and delivering on solutions that are both effective and efficient. His achievements include:

  • Moving AML (Anti Money Laundering) verification activities to professional researchers in Uruguay
  • Chairing the Records Management Policy Group at Watson Wyatt and achieving global agreement to a records retention schedule
  • Achieving ISO9001 quality management certification for all client services out of 18 offices across UK and Europe plus the Manila operations
  • Designing and implementing a global conflict checking process
  • Achieving ISO27001 information security certification for Watson Wyatt in the UK and Manila.

Malcolm was an Associate of the Institute and Faculty of Actuaries and from 2014 to 2017 was a member of the Professionalism Content Development Working Group which develops ethics training material for actuaries.  He is a qualified internal auditor and a Member of the Institute of Quality Assurance.  For many years he was a professional trainer and is a Fellow of the Chartered Institute of Personnel and Development.

 

Malcolm left his role as Global Regulatory Services Manager at Towers Watson in 2014 to start his own consultancy business.

 

Further details are on Malcolm’s LinkedIn profile..