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Compliance Manager - 12 Months FTC
Department:
Compliance Employment Type:
Fixed Term - Full Time Location:
London Description The candidate will support the Head of Compliance and the compliance team to enhance, maintain and deliver the Davies Insurance Services regulatory compliance framework. This will involve oversight of the Intermediary Services' network of Appointed Representatives. The role will also cover the oversight of the global Insurance Services entities acting as a group oversight function. Key Responsibilities Enhance, monitor and maintain adequate systems and controls to ensure all Davies Insurance Services' (DIS) regulated entities and Appointed Representatives meet their regulatory requirements. Manage the regulatory requirements of DIS stemming from the FCA rules relating to General Insurance and Consumer Credit Broking activities, including embedding the Consumer Duty. Oversee the compliance monitoring plan (CMP) for DIS, including each AR monitoring plan, ensuring it is managed in accordance with company objectives. Provide meaningful, timely MI to the Compliance and Governance Director and the other Board Directors/Risk Committee members. Provide advice and manage any parts of the FCA compliance plan or notification letters received from the FCA. Report progress to the Board members of the regulated company regularly. Oversee the production of board reports for each AR and DIS compliance board meetings; review Insurer audit reports and recommend remedial actions to the AR. Analyse the risk register, produce exception reporting highlighting all red and amber risks on the dashboard to the respective regulatory Board. Perform risk assessments, analyse current risks and identify potential risks to proactively support the risk owners in mitigating risk. Evaluate previous handling of risks and compare potential risks with the criteria set out by the Risk Committee in line with regulatory and legal requirements. Deputise for the Head of Compliance when required, attending meetings, being the point of contact, providing subject matter expertise. Lead a culture of learning and development, encouraging team members to develop and expand their technical compliance knowledge and capabilities. Work closely with the Head of Compliance, Compliance team, CEO Intermediary Services, CEO Insurance Services, Finance Director, other controlled function Directors, Head of Legal, Legal Counsel, Head of Client Solutions, and Head of Business Development. Build strong relationships with key stakeholders, including CEOs, Directors, and Managers of DIS' Appointed Representatives and other clients. Work closely with the FCA, FOS, Lloyd's of London, and other relevant organisations such as MGAA and BIBA. Skills, Knowledge & Expertise Circa 5 years' work experience and previous management experience preferably in a compliance function within the general insurance sector. High-level interpersonal skills - ability to build successful, mutually beneficial business relationships. Leadership and People Management skills. Strong communication skills in a variety of mediums including written, presentation, and oral skills. Influencing and negotiation skills. Planning, organisational, and measuring skills. A detailed understanding of the FCA rules such as PRIN, ICOBS, SYSC, PROD, and SUP Supervision. A good awareness and understanding of the Consumer Duty requirements for firms. Clear understanding of the implications of IDD, GDPR, Brexit, and the importance of applying the Training and Competence requirements within DIS and across the network of ARs. Sound understanding of the MGA model specifically in relation to the regulatory oversight of appointed representatives and an understanding of the outcomes from the FCA's Thematic review (TR16/6: Principals and their appointed representatives in the general insurance sector). Being a role model for the compliance team and supporting the Head of Compliance with running the team.
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Compliance Employment Type:
Fixed Term - Full Time Location:
London Description The candidate will support the Head of Compliance and the compliance team to enhance, maintain and deliver the Davies Insurance Services regulatory compliance framework. This will involve oversight of the Intermediary Services' network of Appointed Representatives. The role will also cover the oversight of the global Insurance Services entities acting as a group oversight function. Key Responsibilities Enhance, monitor and maintain adequate systems and controls to ensure all Davies Insurance Services' (DIS) regulated entities and Appointed Representatives meet their regulatory requirements. Manage the regulatory requirements of DIS stemming from the FCA rules relating to General Insurance and Consumer Credit Broking activities, including embedding the Consumer Duty. Oversee the compliance monitoring plan (CMP) for DIS, including each AR monitoring plan, ensuring it is managed in accordance with company objectives. Provide meaningful, timely MI to the Compliance and Governance Director and the other Board Directors/Risk Committee members. Provide advice and manage any parts of the FCA compliance plan or notification letters received from the FCA. Report progress to the Board members of the regulated company regularly. Oversee the production of board reports for each AR and DIS compliance board meetings; review Insurer audit reports and recommend remedial actions to the AR. Analyse the risk register, produce exception reporting highlighting all red and amber risks on the dashboard to the respective regulatory Board. Perform risk assessments, analyse current risks and identify potential risks to proactively support the risk owners in mitigating risk. Evaluate previous handling of risks and compare potential risks with the criteria set out by the Risk Committee in line with regulatory and legal requirements. Deputise for the Head of Compliance when required, attending meetings, being the point of contact, providing subject matter expertise. Lead a culture of learning and development, encouraging team members to develop and expand their technical compliance knowledge and capabilities. Work closely with the Head of Compliance, Compliance team, CEO Intermediary Services, CEO Insurance Services, Finance Director, other controlled function Directors, Head of Legal, Legal Counsel, Head of Client Solutions, and Head of Business Development. Build strong relationships with key stakeholders, including CEOs, Directors, and Managers of DIS' Appointed Representatives and other clients. Work closely with the FCA, FOS, Lloyd's of London, and other relevant organisations such as MGAA and BIBA. Skills, Knowledge & Expertise Circa 5 years' work experience and previous management experience preferably in a compliance function within the general insurance sector. High-level interpersonal skills - ability to build successful, mutually beneficial business relationships. Leadership and People Management skills. Strong communication skills in a variety of mediums including written, presentation, and oral skills. Influencing and negotiation skills. Planning, organisational, and measuring skills. A detailed understanding of the FCA rules such as PRIN, ICOBS, SYSC, PROD, and SUP Supervision. A good awareness and understanding of the Consumer Duty requirements for firms. Clear understanding of the implications of IDD, GDPR, Brexit, and the importance of applying the Training and Competence requirements within DIS and across the network of ARs. Sound understanding of the MGA model specifically in relation to the regulatory oversight of appointed representatives and an understanding of the outcomes from the FCA's Thematic review (TR16/6: Principals and their appointed representatives in the general insurance sector). Being a role model for the compliance team and supporting the Head of Compliance with running the team.
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Industry:
Insurance
Specialties:
Insurance, Claims, Claims Management, Professional Services
Employees:
5,001-10,000
Annual Revenue:
$1.4B
Founded:
1968
Address:
20 Gracechurch Street, 5, City of London, England, GB, EC3V 0AA
We are a specialist professional services and technology firm, working in partnership with leading insurance, highly regulated and global businesses. We help our clients to manage risk, operate their core business processes, transform and grow. We deliver specialist professional services and technology solutions across the risk and insurance value chain, including excellence in claims, underwriting, distribution, regulation & risk, forensic accounting, customer experience, human capital, digital transformation & change management. Our global team of more than 8,500 professionals operate across 20+ countries, with large operational centres in the UK & U.S. Over the past ten years Davies has grown its annual revenues more than 25-fold, invested heavily in research & development, innovation & artificial intelligence (“AI”), platform integration & underlying business systems, colleague development, and client service. Today the group serves more than 1,700 insurance, financial services, public sector, and other highly regulated clients.
