CF10 & CF11

CF10 & CF11 Controlled Function

 

FINCO Search operates an extensive recruitment network across FCA CF10 and CF11 controlled function candidates and is the trusted partner for many financial markets firms in London looking to add, recruit or replace a CF10 and CF11 qualified compliance manager. 

 

We provide bespoke recruitment services based upon our extensive knowledge of both recruitment methodologies and our CF10 CF11 specific experience.

What does a CF10 & CF11 do? 

CF10 is an FCA (Financial Conduct Authority) controlled function (CF) referring to compliance oversight for the company that the CF10 is employed by.  In short, a CF10 has the responsibility of ensuring there is a culture, process and framework across the entire organisation to actively adhere to, prepare for and respond to compliance demands and issues.  The CF10 is critical to protect the organisation from compliance failures/sanctions and take personal responsibility for any compliance failures or issues, and can in some circumstances be personally prosecuted for failings resulting in a serious compliance breach.  CF10’s have to manage both internal teams, ensuring compliance is key within everything the business does, as well as managing relationships with external counter-parties; particularly the FCA and in some circumstances external compliance consultants and partners. 

The regulation landscape across funds, asset management, hedge funds and capital markets is a constantly evolving beast where new regulation is cropping up all the time.  CF10’s have the responsibility of keeping up to date with all of these changes, working with both internal and external stakeholders to implement and manage the compliance process throughout the organisation. 

CF11 is an FCA (Financial Conduct Authority) controlled function (CF) responsible for the overall AML compliance of the organisation.  Also known as the MLRO (Money Laundering Reporting Officer), the CF11 has overall responsibility for a companies AML and often counter-terror measures to ensure that the firm operates in line with the Proceeds of Crime Act 2002 and regulation 20(2)(d).  CF11 profressionals are responsible for establishing suitable mechanisms to identify AML breaches, check sanction lists and ensure that the firm is not dealing with clients involved in money laundering or financial crime/terrorism funding.  

MLRO’s / CF11’s often deal with internal training across the business, guiding colleagues and senior management within funds, capital markets and financial services firms on the identification and warning signs of AML breaches.  The CF11 will also monitor transactions and ensure that any breaches are reported to SOCA (Serious Organised Crime Agency).  Firms involved in global transactions often use a system like SWIFT to check for sanctions against clients/market participants that are utilising the firms services to ensure that they do not provide financial services to them, and report them to the relevant agency.  

CF10 & CF11 functions are often combined, and the head of compliance or compliance director at a financial services firm will often be registered as both positions.  It is quite rare to see firms have individuals allocated to one each.  CF10 / CF11 professionals will normally hold the title ‘Head of Compliance’ and have other responsibilities outside of the controlled functions for additional compliance and due diligence measures internally, often over and above the legal minimum requirement to ensure the stability of the organisation and reduce the risk of any compliance breaches/issues. 

What is the average salary for a CF10/CF11? 

Salaries can vary dependent on the size and scale of the organisation.  Large multinationals with a large presence in the UK market will often pay upwards of 120-130,000GBP for their head of compliance with CF10/CF11 responsibility. 

Compliance professionals who are re-applying or gaining CF10/CF11 accreditation for the first time are often on lower salaries, sometimes as low as 60,000GBP.  Often these compliance managers move on to new firms after 1-2 years and enjoy a salary increase for doing so, as they are already registered with some track record behind them. 

For a mid-sized company the salary for an experienced CF10/CF11 or MLRO is usually around 75-110,000GBP depending upon the firm. 

FINCO Search – Preferred Recruitment Agency and Headhunter to the CF10 and CF11 Compliance Markets

FINCO Search has a serious amount of recruitment pedigree in the CF10 and CF11 compliance space.  We made our first placements from inception within CF10 and CF11 compliance positions in London and have continued to maintain a leading network in this arena, offering a qualified and swift service to financial markets clients across the UK looking to hire a CF10 CF11 Compliance Manager or Director.  

We offer our clients a strong network and understanding of the field, taking away the stress and pressures of recruiting suitably qualified candidates at the right salary level.  We are headhunters at heart, but operate with the resources of a recruitment agency, allowing us to tap into a talent pool that many others simply cannot.  

For our candidates, we offer a network of exceptional clients and employers across the UK and an understanding of the right salary levels for your experience.  Our consultants operate across the seniority chain of compliance and CF10 & CF11 candidates and can identify suitable opportunities for all candidates in this space, regardless of market focus or PQE. 

If you are looking for a role covering CF10 and CF11 functions, please view our latest compliance jobs and careers.  If you are a client looking to hire an experienced CF10 / CF11 candidate, we can help you recruit a CF10 or CF11 candidate here. 

If you are interested in finding out how we can assist you in finding your next opportunity in the UK or internationally then please call us now on +44 (0)203 927 5080 or register your CV online here and one of our Compliance Consultants will contact you ASAP.

CF10 & CF11 Positions

    • Head of Compliance
    • Compliance Oversight
    • Compliance Manager
    • Compliance Director
    • Compliance in Asset Management
    • Compliance in Investment Firms
    • Compliance in Derivative Brokerages
    • Compliance in Financial Markets
    • CF10 – Compliance Oversight Function
    • CF11 – Money Laundering Reporting Function 
    • CF10A CASS Oversight Operation Function
    • MLRO
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These are just a few examples of positions we recruit for, other positions are available.  Our team of experienced recruitment consultants can guide and advise both clients and candidates on their next hire in the compliance space with a sound knowledge and targeted network. 

To see our latest vacancies, please click here – compliance jobs

Contact Us

We are here to help, speak to one of our experienced CF10 CF11 Compliance recruitment consultants now on +44 (0) 203 927 5080. OR Send us a message online and we will come back to you.