Newly created opportunity to join this global reinsurer in a generalist compliance capacity.
The primary purpose of this role is to provide compliance support to our regulated UK entities. You will be based in the UK, with flexibility to work from home, with your primarily responsible to support the Head of Compliance.
You will be an independently minded, self-starter insurance professional with a disciplined approach in developing, embedding and maintaining the compliance framework and plan, including AML and financial crime for a specialist and growing life insurer and regulated services company.
Key responsibilities include -
- Contribute to the development of the annual compliance plan and framework, providing support in the creating, maintenance and communication of central compliance standards, policies, manuals and procedures.
- Working with various stakeholders across the business communicating and providing guidance on PRA and FCA matters. You will also help to identify regulatory change and communicate effectively with key stakeholders.
- Attend governance meetings, communicating observations and providing pragmatic guidance in order to assist implement appropriate compliance initiatives.
- Perform planned compliance monitoring thematic reviews as well as ad-hoc compliance assessments and conduct gap analysis using Management Information to assess level of compliance with legal/regulatory requirements and Company policies and procedures.
- Produce regular compliance monitoring reports and dashboards in a timely manner, which provide Senior Management and the Audit and Risk Committee with an understanding of regulatory performance.
- Recommending actions to Senior Management to address issues identified by compliance monitoring and track their completion.
- Liaising and working with business units to understand the regulatory risk profiles of their business and activities.
- Assist with implementation and/or amendment of processes or procedures in response to regulatory change and/or identification of regulatory risk.
- Maintain appropriate financial crime and compliance procedures and policies including customer due diligence measures, reporting, record-keeping, risk assessment, management and control systems and compliance monitoring
- Ensure effective, risk-based operation of customer due diligence at different stages of the policy lifecycle. Ensure appropriate screening (PEPs / Sanctions / EU, OFAC, OFSI) of territories, corporate entities and individuals.
- Identification & external reporting - receive and investigate reports of suspected money laundering, fraud, terrorist financing or bribery & corruption. In conjunction with Head of Compliance make necessary Suspicious Activity Reports (SAR) where appropriate.
- Awareness & training - maintain awareness of financial crime, FCA Handbook, ICOBS, customer disclosure regulations, including those relevant to closed books of business, and organise appropriate staff training.
- Maintain and monitor SMCR records, Management Responsibility Map(s) and Statement of Responsibilities supporting SMCR compliance for all Certified Staff, Senior Management Functions and other staff conducting Insurance Distribution activity.
Requirements Qualifications & Experience:
- Relevant Bachelor's degree or ICA Diploma or Certificate in Compliance/Risk, IRM Diploma/Certificate in Risk Management, CII Diploma/Certificate
- Minimum of 5 years' experience in compliance, risk or audit functions at an insurance company or large insurance brokers office.
- Clear understanding of the workings of insurance regulations.
- Demonstrated understanding of reporting requirements and practices.
- Proven track record insurance compliance/legal background and have a wide ranging skill set.
- Broad and deep knowledge and use of the FCA Handbook - Principles, Rules and Guidelines etc.
- Team player with a collaborative mind set, self-driven, organised and self-motivated
- Strong written and oral communication skills and have experience in producing reports using Microsoft Word and Excel.
Eames Consulting is acting as an Employment Agency in relation to this vacancy.