One of the UK’s largest Insurance brokers is requiring a strong regulatory professional for a newly established role in a new central compliance function. 

Accessible locations: Midlands, Bristol, London.

Responsibilities:

This role is in the Central Compliance team supporting all four divisions. It will manage and oversee a Central Regulatory Change and Policy function and will:

• Identify new regulatory requirements that will apply to the regulated entities.
• Swiftly review and interpret new requirements and provide guidance to the Pillars.
• Provide central support to maintain oversight of progress and encourage consistency of approach.
• Support in the creation of compliance policy to achieve a consistent approach to regulation that will apply to each Pillar.

Key Accountabilities

Planning & Strategy

• Review and interpret new regulatory requirements and other publications from regulators including enforcement cases / final notices.
• Raise awareness of upcoming regulatory requirements to compliance pillar senior management for onwards communication, including assessment of potential impact on each pillar, plus preparation of relevant information for the Chief Risk Officer (UK) to communicate to relevant Boards and committees.
• Coordinate collaboration across both Pillars, promote consistency of approach for new and existing regulatory requirements.
• Coordinate and maintain oversight of each Pillar’s progress on implementing new regulatory requirements and escalate to Pillar Compliance Leadership and UK Governance Committees.
• Coordinate/ prepare responses to regulator consultations either via industry groups or directly.

Service Delivery

• Swiftly identify application of new regulatory requirements and other publications across UK entities and provide easy to understand guides to the Pillars.

Technical

• Good knowledge of FCA requirements specifically relating to Non-life insurance products within ICOBs (MCOBS & COBS, desirable but not essential).
• Good knowledge of the FCA handbook including – PRIN, SYSC, SUP, ICOBS, CONC, PERG.
• Good knowledge and understanding of insurance, principles, products and services.  

Policy, Process and Procedures:

• Collaborate with each Pillar to agree on policy of key regulatory requirements, taking into account interpretation of new requirements, each individual Pillar’s business models, impact, UK risk appetite and implementation capabilities.
• Maintain on-going oversight of the suitability of policy positions, in light of changes to the business or changes to regulatory expectations (or interpretation thereof).    

Knowledge & Experience

• Experience working in a second line compliance role within a non-life insurance broker / insurer, ideally in a technical compliance role.
• Previous experience of managing other compliance professionals (not essential)
• Experience of creating engagement with senior management.
• Specialty and Retail Experience.

Please note, should feedback not be received within 28 days due to the large volume of applications, unfortunately, your application has been unsuccessful. However, we may be in touch with similar relevant opportunities.

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