Role - Compliance Officer
The primary role involves supporting the MGA with its responsibilities to comply with outside regulatory requirements, internal policies and procedures and meeting the expectations of business partners through due-diligence requests and audits. The role will also include providing compliance support to other entities as and when required.
Director of Business Control & Governance and Director of Underwriting and Claims Performance
- Assist in the preparation and co-ordination of on-site audits
- Collaborate with other departments to create a culture of compliance
- Prepare and deliver compliance reports for Senior Management and Directors
- Assist with the day-to-day management of general compliance tasks including but not limited to maintaining various compliance registers, monitoring the compliance log, and submitting regulatory returns
- Dealing with complaints and maintaining the complaints log
- Handling Data Protection issues; e.g. breaches and subject access requests
- Develop and update compliance policy documents
- Assist with the production and development of improved Management Information
- Oversight of Broker compliance including ToBAs and annual due diligence checks
- Keep up to date with, and understand, relevant laws and regulations
- Monitor compliance with laws, regulations and internal policies and procedures
- Investigate irregularities and non-compliance issues. Identify potential regulatory risks, determining their likelihood and consequences in order to advise and assist the business to make informed decisions
- Report to business functions on current risk and compliance performance
- Ensure that findings are recorded and followed up with management so that issues are rectified
- Highlight or escalate areas of concerns
- Assist in the gathering of information for regulatory requests and/or business partner requests
- Contribute to robust and effective compliance controls
Experience and Person Specification
London Market Compliance experience essential
- Compliance experience within the insurance sector.
- Critical problem solver ability.
- Ability to analyse and interpret information.
- Excellent verbal and written communication and the ability to challenge at all levels.
- Excellent organisational and ability to work to deadlines.
- Confidence to own and manage tasks without supervision and able to make informed decisions
- Ability to build professional reliable relationships with other business units.
- Strong Microsoft Office skills.
- Strong attention to detail.
- Strong report writing and presentation skills.
- Preferred Degree educated.
- Practical experience of undertaking due-diligence within financial services.
- Working knowledge of professional indemnity insurance.