Job Overview

Risk & Compliance Analyst - Newly created role

Location: City of London, London Salary: To £60,000 per annum
Type: Permanent Contact: Tara Robinson
Posted: 4 months ago

Due to business growth this established risk and compliance team are seeking an experienced candidate. This is an exciting opportunity for a candidate with prior experience in a governance function, looking to join a collaborative team offering development. Prior Lloyds or General insurance experience highly regarded.

In this role you will be providing effective support to meet the overall objectives of the Group Risk Management and Compliance Division You will get involved in a variety of tasks within risk management, compliance and corporate governance activities for all group entities. As the Risk & Compliance Analyst.

Key responsibilities -

  • Supporting syndicate monitoring activities, such as pre and post bind contract certainty, licensing, data accuracy review, financial crime and sanctions and reviewing adherence to underwriting and claims authority levels.
  • Assisting with Conduct Risk framework activities including, preparation of management information (MI), reviewing product risk assessments, considering audit recommendations for issues that may give rise to customer harm and analysing complaints to identity potential product issues.
  • Helping the Complaints Manager in handling policyholder complaints in line with regulatory requirements.
  • Updating and refreshing compliance procedures, policies and process documents.
  • Supporting the updates and enhancements of monitoring and controls to ensure compliance with regulatory requirements, codes, guidance and standards.
  • Researching, interpreting and reporting on relevant regulatory developments
  • Monitoring compliance with FCA, PRA and Lloyd's deadlines, including the submission of regulatory returns. Risk Management
  • Supporting the development, maintenance and updating of the subsidiary entities risk management frameworks (including key risk indicators), risk appetite (stated tolerances and preferences), and policies, procedures and processes (evaluation and measurement of risk).
  • Analysing Management Information to support the challenge of risk owners as part of the risk and control assessment processes.
  • Evaluating the outputs of the risk owner and control assessment process and preparing risk category level reports for presenting to executive risk category owners. including: An overview of outputs in the context of risk appetite and tolerance. A review of internal and external management information and assess the impact on risk profile of each subsidiary company. Setting out proposals for remediation to address identified gaps in the control frameworks.Engaging with the business to implement agreed remediation plans.
  • Undertaking periodic assessments of the Company's current risk universe to ensure that it adequately covers all material risks and to identify and analyse any emerging areas of risk that could affect each Company's business operations.
  • Assisting with periodic "deep dive" risk analyses, drafting and delivering the programme of work and the report.
  • Monitoring the performance of the tax entity's risk assessment, systems and controls in compliance with the Criminal Finances Act 2017. Providing a report on the assessment outputs.
  • Contributing to the emerging risks and horizon scanning processes, through the researching of relevant topics, producing summary analyses for the Emerging Risks Executive and maintaining the Emerging Risks Register.
  • Supporting periodic assessments of the suite of risk management policies and procedures to ensure that these remain appropriate.
  • Assisting with the process for quantifying non-modelled risks in support of the annual capital setting process and internal model validation.
  • Inputting to the production of the annual Own Risk & Solvency Assessment (ORSA) process in conjunction with the Senior Manager, Risk Management & Compliance, including drafting sections of the ORSA report.
  • Undertake any other related duties as may be reasonably required.

Experience and knowledge required -

  • Educated to degree standard, or equivalent, in a business, legal or economics/social sciences degree.
  • Relevant experience in insurance or financial services risk management and compliance functions. * Understanding of the regulatory environment in which the Lloyd's market operates, specifically, PRA, FCA and Lloyd's; including Lloyd's Minimum Standards.
  • Capable of assessing, interpreting and applying regulatory change within a business environment and contributing to regulatory change projects.
  • Experience of undertaking research and analysis and preparing reports that convey, concisely the key themes.
  • Ability to present risk and compliance outputs to key business stakeholders in a clear and coherent way. * Intermediate working knowledge of MS Office products, including Excel, Word and PowerPoint, and with working with risk management applications;
  • Conscientious and diligent manner and approach, which matches regulatory expectations.
  • Self- starter with the ability to work under pressure and prioritise workloads.
  • Demonstrate a team focused work ethic and actively contribute to a high performing team within an evolving environment.
  • Display excellent communication skills, both oral and written

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