This is a Conduct advisory and oversight role within Compliance where you will be responsible for taking a lead on the implementation, embedding and ongoing development of our Conduct Risk Framework, and associated policies and procedures, to enable our entities to demonstrate compliance with the FCA, Lloyd's, and other relevant regulatory requirements.
Key responsibilities include:
- To lead the continuous development of the Group's conduct risk management framework, and where necessary enhance the procedures and systems relating to the management of conduct risk to ensure that the Board's risk appetite.
- To lead the maintenance and enhancement, where necessary, of the Conduct Risk Framework, considering any emerging conduct risks and regulation.
- Communicate the conduct framework requirements, policies and procedures through reporting and delivering appropriate training for relevant business teams.
- To maintain the conduct risk assessment methodology, perform assessments, conduct related due diligence, and identify and implement appropriate controls to mitigate risks identified.
- Identify opportunities to refine and streamline processes and procedures such that the Compliance and the Conduct Risk function can continue to support the business in an efficient and effective manner.
- To liaise with Lloyd's in respect of conduct risk matters and oversee all conduct risk reporting.
- To be a member of and to oversee the running of the Product Oversight Group (POG)
- To ensure the Board's risk appetite relating to Conduct Risk is implemented throughout the business.
- To provide advice and training to the business in respect of conduct risk issues.
- To oversee and carry out conduct risk controls, monitor the business for conduct risk issues and support conduct risk projects.
- To ensure appropriate conduct risk management information (MI) is made available to the relevant governance bodies within the business on a timely basis
- Oversee Product Governance Processes across all entities. This includes providing conduct feedback and challenge in the product approval processes and ongoing fair value assessments, including reviewing associated customer communications and services.
- Support the continuous development and maintenance of the product catalogue working alongside the DUA team to obtain and update key product information and policy wordings from underwriting teams.
- Support Delegated Authority oversight processes ensuring that conduct risks are appropriately identified and mitigated. This includes contributing to the take-on and ongoing due diligence and audit of delegated third parties (e.g. coverholders, ARs).
- To oversee and provide advisory support over complaints handling.
- To analyse conduct risk MI and undertake root cause analysis in respect of complaints.
- To circulate market updates and guidance in relation to conduct risk matters, as necessary, liaising with the Compliance Officer/Compliance team to provide a unified response to the business in respect of regulatory requirements relating to consumer and high conduct risk business / codes of best practice and regulatory developments.
- Understand all appropriate lines of escalation and the responsibilities of key conduct oversight committees.
Experience and knowledge:
- Extensive conduct risk experience within the Lloyd's/London insurance market or General Insurance.
- Strong working knowledge of insurance industry practices and the current regulatory requirements of Lloyd's and the FCA (in particular Consumer Duty, ICOBS, PROD 4, Lloyd's Principles, DISP, etc.).
- Proven knowledge and experience of leading regulatory chance projects and implementing the regulations relating to consumer and SME insurance products.
- Strong communication and interpersonal skills: able to handle issues with diplomacy and build relationships at all levels to implement change effectively.
- Able to work on own initiative, have strong organisational skills and be results orientated.
- Associate/ Fellow of Chartered Insurance Institute or University Degree in Law or another relevant subject
Eames Consulting is acting as an Employment Agency in relation to this vacancy.
