This is a first line defense role reporting to the Underwriting Governance Manager. The role is focused on reviewing the sale of insurance underwritten by our client in order to ensure sales are performed in line with regulatory requirements and internal conduct guidelines.
Essential Job Functions:
Engaging the business functions and assist in creating, and implementing an Oversight Framework to ensure that sales compliant with current regulatory requirements and companies conduct framework.
Specific duties include but not necessarily limited to:
- Create framework in order to review and report on the sale of insurance on a pan-European basis
- Develop conduct risk reporting and other compliance Management Information for provision to the relevant governance committees.
- Use that framework to effectively monitor and report against agreed Conduct and Operational matrix set by Executive Committees and Boards
- Provide feedback internally either directly or through the US management team,
- Drive and support the remediation of operational/conduct incidents and potential breaches to ensure risk appetite is maintained and outcomes to customers are fair
- Provide assurance and reporting to the 2nd line of defence Compliance team to facilitate effective conduct risk oversight and reporting of regulatory breaches in accordance with regulatory requirements
- To ensure that the regulators' principles of customers' interest is applied in those areas of the business within the jobholder's responsibility.
- 5+ years experience of FCA regulation in a financial services business providing or distributing insurance products to retail consumers.
- Familiarity with high conduct risk lines of business such as Warranty