Compliance Manager

Location
City of London
Salary
Negotiable
Posted
25 Oct 2019
Closes
24 Nov 2019
Ref
1001
Contact
MW Appointments
Sector
Compliance
Job Roles
Compliance Manager
Contract Type
Permanent
Hours
Full Time


Compliance Manager

Function purpose:

The purpose of the compliance function is to:
  • Ensure that all new and amended PRA and FCA requirements are identified, interpreted, assessed for impact and communicated accordingly to those who need to act upon
  • Provide 2nd Line of Defence support, advice, guidance and challenge, at all stages of the compliance management process - to include sign off where agreed it is required
  • Undertake and/or co-ordinate assurance activity to assess whether procedures are compliant with the regulatory requirements
  • Report to the Board of Directors, Risk Committee and Executive Committee on the assurance activity undertaken, and the outcomes in terms of whether procedures are compliant with the requirements, and propose remedial actions if they are not
  • From day 1, you'll be able to contribute to the Insurance purpose which is 'To help people protect against the worst happening and put it right if it does'


Responsibilities:
  • Undertaking autonomous consultancy, engagement, and monitoring to help embed a compliant culture within the business and to help ensure the business unit is compliant with applicable PRA and FCA regulations
  • Providing Compliance advice and guidance to the teams on new products, new business opportunities, changes to existing business relationships and changes to existing products
  • To independently operate as the recognised Compliance expert for the Teams, considering and proposing options and advising on all aspects of FCA, e.g. provision of product information, literature and documentation, cancellations, claims handling etc.
  • To engage with the teams, to assist them in delivering regulatory compliance and fair customer outcomes, e.g. attending meetings, assisting on a one to one basis, working through issues and resolving them, getting involved in projects with a regulatory impact etc.
  • To manage and undertake compliance monitoring and reporting as specified in the Compliance Monitoring Plan, to help ensure the teams maintain compliance with regulatory standards, and that breaches are remedied promptly
  • To monitor regulatory developments (FCA), and to read, and understand the new consultation papers and policy statements, and thus maintain the Regulatory Developments Tracker (RDT) system and to issue briefing updates
  • To advise the teams of new regulation, interpret the impact this may have and to work the teams so that they can implement any new processes required as a result of FCA policy changes
  • To co-ordinate the team responses to FCA thematic work / routine enquiries
  • To support the teams in their assessment of new outsourcers, to ensure that these are logged on the outsourcing register and assist the Protection Team in determining the appropriate oversight and monitoring arrangements
  • To critically evaluate all new product proposals and product reviews from a regulatory perspective
  • Complete other activity over and above those listed in the role profile, appropriate to your skills and experience


Leading their people
  • Lead with integrity
  • Act in a proactive and decisive way when taking the lead on tough decisions
  • Foster collaboration through clear and inclusive communications
  • Initiate and drive positive change
  • Recognise and nurture talent and future successors
  • Create a culture of success
  • Positively challenge yourself and your team to take ownership for delivery
  • Act with resilience, resourcefulness and maintain strong belief
  • Support and promote a culture which is genuinely inclusive and respectful


Requirements:
  • Detailed knowledge of FCA & PRA regulations
  • Significant Compliance experience in a general insurance setting
  • The role holder will have operated risk and control evaluation programmes in an audit, internal controls or compliance monitoring environment and had input into the design of the programme
  • A very strong track record of delivery of compliance initiatives ยท
  • Strong planning and organisational skills and the ability to work to deadlines
  • Ability to maximise the use of your time through time management and prioritisation
  • Communicate effectively with managers at all levels and develop effective working relationships with them
  • Ability to work independently and to make decisions/and recommendations
  • Ability to work on own initiative and as part of a team
  • Ability to produce clear and accurate written information
  • Personal impact and ability to form effective relationships at the highest level and achieve influence at a senior level in the organisation
  • The ability to develop and maintain good working relationships with management teams across the business
  • Educated to degree level or equivalent


REF~1001

MW Appointments is acting as an Employment Agency in relation to this vacancy.

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