Carbon Capture
Compliance Officer We are looking for an experienced Compliance Officer (C/O) who will require a blend of legal and regulatory expertise, a strategic thinker, ethical leader and effective communicator. This role is not only about adhering to Transportation & Storage of CCUS license conditions and other regulatory conditions but also about shaping an organizational culture that values and prioritizes compliance and ethical conduct.
Maintaining regulatory compliance: Ensuring the company complies with all relevant laws, regulations, and guidelines set by regulatory bodies.
Promoting ethical conduct: Embedding a culture of integrity and ethical behaviour throughout the organization.
Managing risk: Identifying and mitigating potential risks associated with non-compliance and unethical practices.
Roles and Responsibilities
Developing Compliance Statements: The C/O is responsible for creating comprehensive compliance statements pursuant to the TRI license. These documents outline the Company’s commitment to adhering to business separation requirements and include detailed descriptions of practices, policies, and systems that ensure compliance.
Providing Advice and Training: Developing and implementing training programs. These programs are designed to educate employees, contractors, and consultants about our clients TRI license requirements, including business separation duties relating to shareholders, the company itself, and users of the CCUS network.
Ensuring Information Ringfencing: The C/O oversees the management and protection of sensitive information. The C/O will be responsible for administering an information sharing protocol governing commercially sensitive information and disclosure conditions that facilitate compliance with TRI license business separation duties, as well as satisfying themselves that any information requests put to the C/O conform to these conditions.
Audit/Assurance & Self-verification: Monitoring access controls and safeguards to prevent the misuse of sensitive information and ensuring that it does not confer unfair commercial advantages or create conflicts of interest.
Monitoring Compliance: The C/O will monitor the effectiveness of the practices, procedures and systems adopted by the Company to ensure its compliance with the specified business separation duties; as well as compliance regarding ethics, anti-bribery and corruption, and other compliance policies and procedures as appropriate.
Self-verification, assurance and audit of broader processes such as data submissions to government.
Compliance Reporting and Communication: The C/O is integral to the compliance reporting process. This involves compiling reports, ensuring transparency, and communicating regularly with stakeholders about the organization's compliance status. The C/O will also be responsible for managing concerns raised with respect to reported breaches of ethical conduct and compliance procedures, and disseminating lessons learned.
Responding to Change: The C/O will need stay abreast of any changes to TRI license conditions and be able respond accordingly to this and any other evolving regulatory obligations as may arise as the business matures, including dealing with any regulatory authorities, regulatory documents, or required consents.
Develop a network of Licence/business separation champions to promote awareness of licence obligations, promote a culture of compliance and facilitate compliance monitoring within their teams.
Key Challenges
Keeping up with regulatory changes: The energy sector is subject to frequent regulatory updates. Staying abreast of these changes is challenging yet crucial.
Balancing transparency and confidentiality: The C/O must ensure information transparency while safeguarding sensitive data, a delicate balancing act.
Ensuring organisation-wise compliance: Cultivating a compliance culture across various departments and levels within the organization. Implementing risk management strategies.
Skills Required
Regulatory Expertise: Proficiency in understanding legal documents, laws, and regulations is important. This includes knowledge of competition law, anti-bribery and business separation mandates.
Analytical and Problem-Solving Abilities: The C/O must possess strong analytical skills to interpret compliance requirements and identify potential issues. Problem-solving skills are necessary to develop effective strategies to address these challenges.
Communication and Interpersonal Skills: Effective communication skills are vital for the C/O. This includes the ability to convey complex legal and compliance concepts clearly and persuasively to various audiences within and outside the organization including the regulators and Board of Directors.
Leadership and Organisational Skills: The C/O should have the ability to lead and influence others, promoting a culture of compliance and ethical behaviour. Organizational skills are also important for managing various compliance-related tasks and responsibilities efficiently.
Data Management and Security Expertise: Expertise in managing and securing sensitive data is essential. The C/O should be adept at ensuring the privacy and confidentiality of information.
Education and Experience
Bachelor’s degree in Compliance, Accounting/Audit, Business, Finance, or Law.
10 years of Audit, Legal or Ethics & Compliance experience.
Ideally, Knowledge / awareness of Ofgem Regulatory approach and T&S licence conditions or experiences in business separation/ringfencing controls, systems and processes.
Experience in a similar role within a regulated industry, particularly in the energy sector, is advantageous. This includes experience in developing compliance programs, conducting training, managing information security, and engaging with regulatory bodies.
