The objective of this role is to establish a comprehensive and effective compliance and risk control framework for our new high net worth client proposition with an emphasis on conduct risk management, operational excellence and customer centricity.
Key responsibilities
- Map all relevant risk control and compliance requirements against the new company's target operating model.
- Establish a comprehensive Line 1 risk control and compliance framework with actionable KRIs, satisfying the syndicate's governance objectives.
- Engage directly with all external, customer-facing business partners (coverholders, TPAs, etc.) who operate under delegated authority agreements and capture, analyse and report relevant Conduct Risk MI on a monthly basis in accordance with requirements.
- Ensure that external business partners consistently adhere to their contractually agreed service levels and to escalate performance issues
- Conduct monthly risk reviews onsite with selected business partners, documenting shortcomings and proposing detailed remediation plans; take a proactive stance and escalate issues immediately when you have identified a potential conduct or reputational risk
- Contribute to the risk register and action log in alignment with the syndicate's [and other risk carriers'] risk management policy as appropriate.
- Maintain a good working relationship with the Financial Ombudsman Services, the FCA, Lloyd's and other relevant regulatory or industry bodies; scan the horizon for new emerging risks.
- To support the Risk and Compliance team with governance reporting with respect to the high net worth client proposition as may be appropriate.
- To support the high net worth client proposition from a Risk and Compliance perspective with ad-hoc activities as and when requested by the Senior Risk Manager or Compliance Officer.
Experience & skills required
- Significant experience in a risk and/or compliance management role within a multi-class environment (commercial lines, specialty lines and personal lines); preferably from a general insurance background.
- FCA principle-based regulation and relevant insurance law
- UK market experience, specifically Personal Lines. Prior experience in high net worth individuals would be ideal
- Solution orientated approach and ability to adapt and work effectively in different situations and to carry out a variety of tasks.
- Customer focused - looking after the interests of external and internal customers. Ensure that their wants, needs and expectations are given due consideration and that all efforts are made to meet them wherever fair and reasonable, in line with any standards from an industry regulator.
- Ability to plan and prioritise to achieve a defined result in a desirable manner.
- Take responsibility for your own career and actively support 'continuing professional development'.
- Demonstrate strong commercial/business awareness to understand the business opportunities and priorities of the organisation and constantly seek methods of ensuring that the organisation continues to be business-like and continues to meet the standards and requirements of its regulators.
- Team orientated and strong communication skills
If you are interested in this role, please apply below or contact me for more information.
Eames Consulting is acting as an Employment Agency in relation to this vacancy.
