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Job Overview

Regulatory Compliance officer - Newly created role

Location: London, England Salary: Negotiable
Type: Permanent Contact: Tara Robinson
Posted: 10 days ago

Great opportunity for a seasoned compliance professional with prior experience in the Lloyd's of London market to join this specialist membership organisation. As part of their established risk function you will oversee, develop and monitor our compliance with Financial Conduct Authority requirements and other developing regulatory requirements such as PRA requirements.

Key responsibilities include-

  • To monitor our regulatory risks through delivery of specific risk based reviews and testing of compliance in line with our policies.
  • To undertake specific reviews of compliance area such as conduct risk reviews/ product documentation/ Lloyds Minimum standards in line with the agreed Risk Assurance methodology, and make recommendation for improvement and present results to Executive and the Board.
  • To develop, review and update the compliance monitoring plan based on the key areas of regulatory risks.
  • To maintain clear and comprehensive records of compliance monitoring work to demonstrate our ongoing monitoring of FCA regulatory risks.
  • To track and follow up actions arising from compliance recommendations and improvements to the business.
  • Working with our business functions to advise on requirements arising from projects or changes such as the sale of new regulatory products including overall systems and controls requirements from the FCA and new requirements arising from establishing an insurer.
  • To support the CEO with his oversight of the Senior Managers and Certification Regime requirements including review of statement of responsibilities prior to submission to the FCA.
  • To review and sign off any materials in compliance in line with our financial promotions policy.
  • To develop and provide input into the firms company compliance such as conduct risk policy, fraud and financial crime policy and whistleblowing policy, product governance and oversight including design of management information to support compliance.
  • To support the Risk and Compliance Officer with the quality review of the complaints process.
  • To develop training and awareness plans to ensure all staff are aware of regulatory requirements including specific responsibilities such as the Executive, Board and other staff.
  • To identify, assess any new and existing and changing regulatory risk/requirements and the impact on the business with focus on Financial Conduct Authority requirements.
  • To review and keep up to date with the external regulatory environment including Lloyd's cover holder changes, consultations, other information and assess how this impacts our regulatory risks and prepare and present reports to Board.
  • To understand the regulatory risks to the business, report on these and input into our Risk Management process.
  • To investigate and assess regulatory breaches, making recommendations and reporting findings when requested by management.
  • To input into regulatory returns process to the FCA including cover for reporting to the FCA on a six monthly basis.

Experience & knowledge required -

  • Regulatory/Compliance background with good knowledge of current relevant regulations (FCA/ PRA, Lloyds)
  • Experience and knowledge of insurance market including sale of retail products to parties including Lloyd's regulatory risks and requirements.
  • Background in compliance activities in an insurance environment including wider compliance including topics such as data protection, anti-bribery act, conflicts of interest.
  • Credibility to challenge existing practices and a desire to pro-actively tackle issues.
  • Diligent, analytical and tenacious individual.
  • Excellent communication skills.
  • Presentation skills.
  • Experience of staff training and development with the ability to create, design and deliver training materials.
  • Resilient and able to communicate complicated information.
  • Ability to build rapport and drive change through different approaches/Ability to adapt style.
  • Ability to be discrete, as individual will be handling sensitive information from all areas of the company.

Eames Consulting is acting as an Employment Agency in relation to this vacancy.