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Job Overview

Compliance Business Partner - Insurance

Location: London Salary: To £55,000
Type: Permanent Contact: Tara Robinson
Posted: about 2 months ago

Leading insurance broker is a seeking an experience Compliance professional to join their Specialty/Wholesale compliance team.

As a Compliance Business Partner your role will be to ensure professional, strategic and operational compliance risk-management is in place. That the business is compliant with appropriate systems and controls by supporting it in meeting its regulatory objectives, through delivering policy and advisory support, leading compliance projects, monitoring changes in regulation and performing impact analyses and embedding professional standards.

Key Responsibilities include:

  • Work with the Specialty Risks (including P&C, Construction, Marine, Specie and Fine Art) and Delegated Authority divisions (overseen by the department’s senior management and together with the wider Compliance team) to provide support, advice and guidance on the compliance framework and policies and procedures and guide the business to identify, assess and manage compliance risk and meet professional standards set and regulatory requirements
  • Provide focused specialist compliance advice to divisional staff taking into account business / customer needs, external best practice and regulatory requirements. Bring challenge to the senior management of the relevant division and make supportive interventions aimed at managing compliance within the divisions
  • Respond to a wide range of complex enquiries, ensuring that the information provided is clearly understood by the business
  • Maintain excellent relationships with internal stakeholders to aid the efficient and productive working relationship with risk management and other business divisions
  • Act as a ‘trusted advisor’ to the business, working together to find compliant commercial solutions which maximise corporate performance and minimise financial, regulatory or reputational loss
  • Provide compliance oversight and reporting to the department’s senior management, and the senior management team of the relevant division. Provide input to our Executive, Audit and Risk Committees
  • Assist with the management and delivery of compliance work including scheduled and ad hoc strategic projects; including:
    1. The development and implementation of an effective framework supported by risk-based policies and procedures designed to deliver compliance with relevant regulatory requirements
    2. The development and implementation of appropriate domestic and international professional standards in response to new rules, guidance, regulatory standards
    3. Provide compliance work stream support on business-led projects and M&A integration projects
  • Carry out research and provide expert policy advice on a range of regulatory issues with a special focus on conduct risk. Maintain a highly visible and supportive role as a strong influencer and help internal stakeholders to understand conduct risk outcomes to anticipate, understand, prepare for and implement regulatory and policy change
  • Review and analyse key external trends and influences to ensure that a wide range of information is used to support the development of compliance strategies ensuring they are in line with the planned overall strategy
  • Lead conduct training and awareness initiatives within the relevant division
  • Comply with Professional Standards in accordance with statutory requirements for role with specific attention, but not limited to Managing Client information, Whistle Blowing, Treating Customers Fairly

Skills and Experience required –

  • Educated to a degree level, or with equivalent experience
  • Previous experience working within a similar role and knowledge of specialty/wholesale/reinsurance areas
  • Experience of working within, the UK regulatory framework as it applies to insurance/reinsurance/broking environment,
  • Understanding of latest regulatory developments and key current issues facing the insurance sector
  • Strong organisational skills and ability to work well under pressure.
  • Takes a hands-on practical problem-solving approach to achieving business outcomes and to ensure that the right business culture and behaviours are being pursued.
  • Ability to deal constructively with uncertainty and ambiguity.
  • An excellent attention to detail.
  • Exceptional verbal and written communication skills and good active listening skills
  • The ability to take a pragmatic/commercial approach in understanding and applying regulatory requirements.
  • Able to get up to speed on new subjects quickly, and deliver high quality output within tight deadlines
  • Team focused in approach