Currently at A&M, Mr. Heales is co-leading a team that is advising an overseas bank on the implementation of MiFID II. He is a subject matter expert on key MiFID II topics, including Investor Protection and Organisational Requirements. Other engagements include: advice on Authorisations, review of Conduct Strategies, Product Governance, Senior Management Regime and expert witness testimony in a number of regulatory cases.
Mr. Heales led the program to establish the FCA working closely with the CEO and Board and included work on organisational design, risk appetite, competition, people strategy and the interfaces (Memorandum of Understanding) with the Prudential Regulatory Authority (PRA).
As Head of Retail Banks, Mr. Heales had experience in assessing firms against the conduct supervision model, including chairing of risk committees, leading visits to firms and dealing with issues on complaints handling, payment protection insurance, financial crime and enforcement cases. He also oversaw the development of FCA's conduct supervision model covering both insurance firms and banks along with the development of the prudential approach for those firms not regulated by the PRA. Mr. Heales was credited by the Director of Supervision, as being “pivotal in transforming the supervision approach and implementing the new conduct supervision model.”
During his career, Mr. Heales has also supervised UK and overseas firms, including large institutions to smaller banks, insurance firms (where he was involved in Solvency 2 and the review of with-profits business known as Project Chrysalis), mortgage and investment firms and smaller banks.
Mr. Heales led the UK-wide approach on regulator supervision of smaller firms (with limited resources); this approach, which was adopted by the FSA Board, is still in place today.
In addition to his wide supervision experience, Mr. Heales has worked in Markets (Gilt Supervision), Internal Audit, Finance, HR, Authorisations and Integrated Regulatory Reporting.
Previously, Mr. Heales led transformational change programmes involving complex IT development (including the managing of overseas suppliers), along with a track record in motivational leadership and delivery. He earned an MBA and is Prince 2 qualified.