You will be responsible for managing the Compliance Function and the maintenance, development and implementation of the compliance management frameworks, working to develop and embed the legal and regulatory framework to ensure the company comply with all regulatory requirements.
This is a generalist compliance role covering all aspects of compliance strategy and the operational delivery. This role will be responsible for four team members, including Compliance Officer, Quality Assurance Analyst x2 and Complaints Officer. There is scope for this team to expand in the future.
You will be responsible for the delivery of the monitoring programme to ensure a robust review process is in place for assessing the company’s controls and adherence to applicable regulatory requirements.
In addition, you will provide detailed interpretation and guidance of statutory regulation and codes of practice as part of the development of compliance related processes, support initiatives and recommend actions across the business and as part of departmental projects.
This is an excellent opportunity for an experienced Compliance professional to work at a senior level and support the business both operationally and strategically to meet the company’s business plan.
Responsibilities and Duties:
- Resource, develop, performance manage and motivate the Compliance Team, currently consisting of three direct reports.
- Responsible for keeping up-to-date with changing rules and to present reports detailing these and how the employees are following them;
- Implement strategies to deal with compliance problems to protect the reputation of the business;
- Develop and maintain the compliance monitoring plan, ensuring timely delivery of monitoring activities whilst adhering to regulatory and internal policies.
- Ensure compliance monitoring activities are completed in accordance with the correct framework and compliance monitoring methodology
- Where legal risks have been identified, prepare and deliver the appropriate course of action monitoring the effectiveness of the implementation;
- Lead and report on investigations to meet compliance standards and on all regulatory risk;
- Work with Sales and HR department and assist with all compliance queries from operations, collating complaints with the Complaints Officer and maintaining full audit trails for all actions taken during the process;
- Work to ensure ongoing regulatory compliance to FCA, ICO and other regulatory bodies rules and adherence to all statutory obligations, pro-actively identifying any necessary process and operational changes;
- Develop and present training on regulatory and compliance matters that increases awareness of compliance, specific requirements and adherence to regulatory frameworks;
- Develop and maintain accurate and detailed management information to report metrics and trend analysis;
- Provide regular reports and management information for the Senior Management and Board giving assurance that the business is achieving fair outcomes for customers and meeting its regulatory objectives.
- Review, design and implement compliance related policies and procedures that promote a culture and environment where compliance and our Company values are central to all business practices.
- Develop communication channels that promotes awareness and engages all employees across the Company to better understand the role of compliance and our regulators.
- Accountable for regulatory reporting on complaints and for notifications to the FCA, ICO and other industry bodies to which the company subscribes, ensuring regulatory and other reporting is accurate, timely and appropriately informed.
- Contribute to discussions on new project activities, new business development and/or commercial initiatives providing compliance expertise and advice ensuring regulatory requirements can be met and dealing with conflicts of interest.
- Review and approve Financial Promotions to ensure compliance with relevant requirements, including FCA Rules and TCF requirements.
- Ensure all appropriate individuals are authorised by the FCA and their fitness and propriety is periodically re-validated.
Education, Qualifications & Training:
- Ideally Degree educated or equivalent
- ACII or working towards
- Significant industry experience in General Insurance.
- Experience of regulatory compliance and FCA handbook.
- Experience of developing and managing risk based compliance monitoring plans
- Good knowledge of UK regulatory and governance framework
- Effective interpersonal and influencing skills required together with good organisation and the ability to adapt to the changing needs of the business;
- Ability to work under pressure and to a very high quality standard
- Personable, with a collaborative leadership style, calm and collective under pressure.
- Clear focus on quality and ensuring quality standards are met
- Excellent administration skills and methodical in their approach
- Attention to detail with a high level of accuracy
- Excellent written and verbal communication skills with the ability to adopt to the audience
- Pro-active and self-motivated
Specific requirements for the role:
- Up to £45,000 per annum, depending on experience
- Working hours: 37.5hrs per week between 9am – 5.30pm Mon-Fri.
- Company Benefits - Income Protection, Private Medical Insurance, Pension, Cycle to work scheme, share option scheme (after 1 year of employment).