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.
This role sits within the Central Compliance team supporting all four divisions. The role will manage and oversee a Central Regulatory Interaction Function that will be responsible for:
- Preparing, coordinating and managing interaction with all applicable regulators for all regulated entities within the pillars of the group, including submissions and returns, applications, overseas licences, information requests and fixed supervision communications.
- Focussing particularly on interaction with the FCA, but also interactions with other regulators, including but not limited to, the CMA, Treasury, Jersey & Guernsey regulators and regulators in territories where the firm has a presence.
- Ensuring consistency and quality of approach, message, and presentation.
- Preparing for fixed portfolio FCA supervision.
Planning & Strategy
- Prepare, coordinate and manage interaction with all applicable regulators, particularly FCA, ensuring consistency of message across regulated firms.
- Focal point for UK wide FCA communication.
- Prepare for Fixed Portfolio FCA supervision.
- Understand overseas licences requirements.
- Coordinate responses to all FCA thematic and other information requests.
- Central recipient/focal point for FCA contact in relation to returns; liaison with relevant Pillar stakeholders when queries received from regulators.
- Coordinate and oversee submission of regulatory application submissions including VOPs, CiC, SMF, Directory and firm standing data.
- Oversight and submission of regulatory returns and attestations, using a risk-based approach to quality assurance of certain returns, and requesting changes or points of clarity from Pillars.
- Review submission requirements and challenge Regulator when returns incorrectly allocated.
- Request MI from Pillars for overseas business and identify possible risks.
- Monitor overseas business against licences in place.
- 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 – SUP, MIPRU, ICOBS, CONC, SYSC.
- Good knowledge of the application of SM&CR.
- Good knowledge and understanding of insurance, principles, products and services.
Knowledge & Experience
- Experience working in a second line compliance role within a non-life insurance broker / insurer.
- International level of experience in Licencing Applications, desirable but not essential.
- Experience of regulatory reporting and the use of FCA systems such as RegData and Connect.
- Previous experience of managing other compliance professionals (not essential)
- Experience of working with senior management.
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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