Compliance Assurance Analyst
Tesco Underwriting is currently looking for a Compliance Assurance Analyst based out of our Reigate office.
The successful person will be responsible for developing and maintaining effective working relationships across the business to successfully provide regulatory advice and guidance on a diverse range of regulatory issues, including conduct risk and data protection.
Main responsibilities of a Compliance Assurance Analyst:
• As a Compliance Assurance Analyst you will undertake compliance assurance activity on own, or in coordination with other second and third line control functions, in line with the annual assurance plan to identify actual or potential regulatory breaches. This may also include reviews of activities that are outsourced to Ageas UK. Assurance activity will include interviewing managers and staff, carrying out testing and documenting all review activities undertaken and conclusions.
• Sum up of review findings with the relevant Directors or Senior Managers, using influence to gain commitment to take timely actions to adequately mitigate the risks identified.
• Compile high-quality compliance assurance reports, which clearly articulate findings, recommended actions and appropriate timescales for completion.
• Proactively work with actions owners, providing advice and support as appropriate, to ensure all actions are completed effectively and within the target date agreed. Track and document progress towards completion of all actions.
• Provide compliance advice and input to due diligence assessments and control assurance visits, in relation to new or existing outsourcing or key supplier agreements.
• Review of new or changes to existing customer documentation, letters or training materials to evaluate compliance with regulatory requirements.
• Assist in the promotion of a strong compliance culture and awareness of all applicable regulatory requirements, with a particular focus on conduct risk.
• Assist in the investigation of actual or potential breaches of regulations, rules and standards, ensuring fair outcomes for customers are achieved and maintain a register of all such regulatory breaches.
• Maintain departmental records, including the submission of regulatory and external returns and of all regulatory contact.
• To provide support and advice on compliance-related matters to projects or ad-hoc enquiries, ensuring that the guidance provided is in line with FCA rule requirements, internal policies and Tesco Underwriting’s appetite to compliance risk.
Skills and attributes of a Compliance Assurance Analyst:
• Experience of working in a Compliance or Quality Assurance function within financial services, ideally within a general insurer or intermediary.
• Highly developed and effective communicator both verbally and in writing, exhibiting good questioning and listening skills.
• Consultative, approachable and persistent. Naturally curious, good at probing facts and challenging assumptions.
• Able to build good working relationships with all levels of the business through effective stakeholder management, whilst also having the ability to challenge and influence.
• The ability to manage a diverse workload and prioritise tasks to meet deadlines. Demonstrates personal commitment, acting with integrity and impartially, displaying an open and trustworthy attitude.
• Proven analytical skills; able to analyse data and identify trends
• Practical knowledge and capability with using Microsoft Office products.
• A sounds awareness of regulatory and legislative requirements relating to general insurance, including conduct regulation (FCA) and Data Protection (ICO)
• Effectively able to compare and report on business practices against regulatory requirements, identifying areas which impact the customer and business.
• The jobholder to hold, or be working towards, an industry recognised qualification in compliance or a related discipline.
• An established knowledge and understanding of the company’s products and the market in which it competes.
• A good knowledge of internal systems and processes.
• Driving license and willingness to travel to other office locations in the UK, e.g. Newcastle.
Tesco Underwriting provides motor and home insurance to Tesco Bank's 1.5 million customers. Our customer’s needs are at the very heart of our business and are central to everything we do. We have built a business based on our shared values and fresh thinking about what we do – our customer and their individual needs are key to our operations.
This job was originally posted as www.totaljobs.com/job/76122208