MERJE have exclusively partnered with a growing Insurance business in the search for a Head of compliance. Operating as an MGA platform, Lloyd’s broker and niche product distribution business, our client brings its sector expertise and technical know-how to bear for established industry players and entrepreneurial start-ups around the world.
We're looking for a dynamic, commercially minded and pragmatic Head of Compliance, who will take ownership of the compliance, conduct and regulatory agenda across a rapidly expanding business.
You will have a strong working knowledge of the FCA rules relating to General Insurance and, ideally, you will have experience of working within the London Market.
To be successful in this role you will need to have a broad knowledge base of General Insurance compliance and be comfortable in managing stakeholder relationships at all levels, from general employees to board level representatives.You must have a "can do" approach and the practical experience to enable you to translate high level plans and procedures into workable solutions for a fast moving, diverse business.
Key Responsibilities:
Own the annual compliance plan and prioritise accordingly
Ensure all documentation, policies and procedures are correct, up to date, improved where necessary and embedded within the business
Organise the onboarding and oversight of Appointed Representatives and other business partners
Handle complaints in accordance with FCA and/or Lloyd’s requirements, as applicable
Act as focal point for all regulatory/compliance queries
Carry out periodic reviews to ensure that the business is following prescribed processes
Design, deliver and regular review of targeted KPIs, centered on the key drivers of conduct and regulatory risk
Update FCA and Lloyd’s systems (Connect, Reg Data, ATLAS, DCOM) as necessary
Horizon scanning to give the business early warning of imminent regulatory change and provide actionable guidelines to make the relevant preparations
External Stakeholder Management
Dealing with the FCA and Lloyd’s
Managing compliance issues with other business partners such as Insurers, MGAs and Brokers
Working in tandem with Compliance Consultants
Internal Stakeholder Management
Communicating regulatory change and its impact on the business to the Board
Engaging the wider business in compliance issues so that compliance processes and procedures are created that are aligned to the business needs and its operating model and ensuring that theseprocedures are consistently followed
The Head of Compliance must have the following skills, values and knowledge:
Working knowledge of FCA Handbook and how it pertains to General Insurance
Competent user of FCA systems (E.g. Connect and RegData)
In depth understanding of
Client money
Financial Crime and how it relates to General Insurance
Conduct Rules
SMCR regime
Product Oversight and Governance
Experience of working with Appointed Representatives
London Market knowledge, including Lloyd’s, Wholesale broking and MGAs
Excellent communication and influencing skills
Ability to work independently and resourcefully whilst managing multiple projects