Growing re/insurance specialist is seeking an experienced Compliance Manager to design the compliance framework for their MGA Platform and ensure the company's policies and rules are in line with regulatory and ethical standards.
Key responsibilities include:
- Maintaining regulatory compliance oversight of Managing General Agents and Coverholders, including their claims Third Party Administrators, at the onboarding stage and on an ongoing basis thereafter.
- Set up and implement appropriate Compliance Monitoring Programs and developing effective compliance reporting systems for the MGA platforms.
- Establish areas of reporting, standard quarterly and half yearly reports as required by the FCA and other regional regulators in respect of the licences held.
- To manage with the dealing of complaints management including liaising with the claim's teams, Managing General Agents and Coverholders, and the Financial Ombudsman Service as appropriate.
- To oversee the preparation of regulatory returns.
- Managing and overseeing the development of systems and controls such as sanctions monitoring, background checking, and breech reporting including the production of an annual compliance plan and continued reporting of this plan to the Board.
- Provide advance and guidance to the business managers to enable them to understand the regulatory implications of new business and initiatives and business changes. This will include participation in business projects.
- To oversee the company's data protection strategy and its implementation to ensure compliance with GDPR requirements by liaising with the DPO, Operations and IT teams in this regard.
Experience & knowledge required:
- Compliance professional with a compliance qualification and/or relevant experience in a similar role/business with a strong knowledge of FCA/compliance regulation and oversees licensing.
- Commercial awareness and focus on the application of regulation within the insurance broking, MGA platforms
- A detailed understanding of the insurance market and the regulatory framework in which it operates.
- Proven record of leading and delivering major initiatives and projects.
