Job Title: Senior Compliance Manager
Department: Compliance
Grade: Senior Staff Member (SSM)
Job Description:
To contribute to the development and operation of an effective and robust compliance framework for the Agency and its managed syndicates.
To provide the Agency senior management team with appropriate advice and timely information that will enable them to form a balanced assessment of compliance with applicable regulatory requirements.
To contribute generally to the development and performance of the wider Group Compliance team
Key Responsibilities
1 Maintain a credible, appropriately skilled and respected Agency Compliance team and ensure the Agency’s annual compliance plan is delivered. Manage and direct Compliance staff as required to align with Agency priorities.
2 Monitor and evaluate the Agency’s compliance-related controls and processes, assess compliance risks relative to the Agency’s compliance risk appetite, and ensure recommendations for improvement are given and implemented by the business in good time, liaising with the Risk Management and Internal Audit functions as appropriate.
3 Support the Agency Managing Director and Agency Compliance Officer in reporting regularly to the Agency Board and Risk & Capital Committee on delivery of the compliance plan and on the incidence and resolution of any material compliance and regulatory issues.
4 Provide expert compliance advice to the business, take ownership and seek resolution of compliance issues including any new regulatory initiatives, liaising with Group Compliance on Group-wide matters where relevant.
5 Maintain relevant Agency compliance policies and procedures and ensure effective training and implementation across the business of both Agency and Group compliance policies and procedures.
6 Review regulatory materials relevant to the operations of the Agency as published by the PRA, FCA, Lloyd’s, the LMA, and the ICO and provide expert commentary and guidance to the business as applicable.
7 Provide education and training to Agency staff and management on relevant regulatory requirements (e.g. sanctions, treating customers fairly/Conduct Risk, anti-money laundering, complaints handling, data protection, etc.). Use compliance training & awareness and personal influence as opportunities to support the Agency Managing Director in fostering a strong compliance culture throughout the Agency.
8 Ensure that Agency Compliance procedures are kept up to date and reflect current regulatory requirements; ensure that Agency Compliance and Group Compliance procedures are adhered to in day-to-day activities.
9 Ensure that required Agency notifications and filings are made to Lloyd’s, the PRA and the FCA.
10 Assist the Agency Managing Director, the Agency management team, and the Agency Compliance Officer in any other tasks as may be deemed necessary. This will include membership or attendance at various Agency management groups, as directed.
Person Specification:
1 Ideally having: a recognised Compliance qualification (e.g. ICA); passed the LLMIT (or equivalent); and relevant ACII qualifications.
2 5+ years London Market experience in a Compliance role and a proven track record of applying regulatory knowledge effectively to a Lloyd’s business.
3 Strong literacy, numeracy and analytical skills. Ideally educated to degree level.
4 An experienced and competent people manager within at least a small team.
5 Sound knowledge of applicable PRA, FCA, and Lloyd’s regulatory requirements and good appreciation of the international regulatory obligations that Lloyd’s firms must comply with.
6 Sound understanding of applicable sanctions regimes and ability to give pragmatic advice and make effective assessments to enable the Agency to operate within its compliance risk appetite.
7 Competent office IT skills.
8 Good interpersonal and written skills that enable the candidate to build trust and persuade staff members of the business benefits of a rigorous compliance culture.
9 Able to develop and maintain effective working relationships with the Agency Managing Director in particular and all business functions in general.
10 Well organised with a good sense of priorities amongst competing demands on time.
12 Integrity and the ability to make a principled stand on matters of importance, while operating largely with a service orientation.
13 Flexibility and ability to retain a sense of perspective, proportionality and pragmatism.
14 Able to work unsupervised on a day-to-day basis with a fair degree of autonomy. Comfortable taking the initiative to develop new processes and procedures within own authority.
