Compliance Manager

4 days left

Harrison Holgate
03 Feb 2017
03 Mar 2017
Contract Type
Full Time
My client, a new start up Lloyd's Syndicate is currently recruiting for a Compliance Manager to be based in the city.

The syndicate compliance function is responsible for managing the day-to-day technical compliance activities of our syndicate business. The compliance manager is responsible for:-

Developing and maintaining the syndicates compliance framework including policies & procedures, compliance training, compliance with conduct risk, sanctions screening, Lloyd's minimum standards monitoring, inwards/outwards broker TOBA's, maintenance of underwriting guidelines & letters of authority: and
Developing and embedding a compliance culture within the business where compliance is genuinely seen as a value-add business facing function: and
Providing company secretarial governance to the Managing Agency (once established) including supervision and preparation of agendas, papers, minutes and statutory filings as appropriate: and acting as contact point for compliance and internal audit issues to and from the Syndicate's Managing Agent, Lloyd's and enquiries to and from other Domestic and international regulatory supervisory bodies for all business written by the Syndicate

Key Accountabilities

To build, lead and manage the Compliance team.
Operation of a governance framework that is compliant with Lloyd's minimum standards for governance.
Promoting best practice standards for corporate governance.
Responsible for establishing and operating a compliance framework within the syndicate.

Developing and maintaining appropriate management information and analysis to enable senior management, the relevant Boards and Group functions to discharge their obligations for compliance oversight. This will include making presentations at relevant boards and committees.
Review annually or, where necessary, draft for the first time appropriate and effective compliance policies and procedures.
Oversee compliance with conduct risk requirements, ensuring that appropriate monitoring, management information, training and other controls are in place and effective.
Discharging duties of the Money Laundering Reporting Officer in respect of all aspects of financial crime.
Provide support to the business by responding to compliance queries on licensing and changes in regulation.
Manage sanctions compliance and maintain Everest's screening application.
Develop and provide compliance training to syndicate staff using both online and face-to-face methods.
Maintain the registers of inwards and of outwards approved brokers, in relation to both Lloyd's and MGA transactions, dealing with TOBA wordings and applying due diligence to new approvals and reviews.
Attending market / industry committees and internal committees as required.
Leading the syndicate's response to regulatory breaches or incidents, in conjunction with the Group Chief Compliance Officer.
Manage the Lloyd's business timetable.
Preparing and presenting an annual compliance strategy & plan to the Board.

Appropriate professional qualification, e.g. ACII or similar
Compliance management experience with a Lloyd's Managing Agent particularly in relation to wholesale, corporate, and consumer insurance and/or any Internal Audit management functions
Excellent knowledge of Lloyd's, UK, US and European Insurance regulation
Understanding of Company Secretarial issues; attendance at Board and Committee meetings
Experience of Conduct/Product Risk, Solvency II and SOX regulations