Compliance Manager - Insurance Market
A major International Insurance Group based in the City seeks an experienced Compliance Manager with a minimum two years’ experience in an Insurance compliance role with significant knowledge of the working practices and expectations of the FCA; European and local legislation & directives, including Solvency II. The role is to assist in the monitoring and oversight of compliance matters throughout the insurance business, with particular regard to the monitoring of its Agency delegated authority arrangements. To assist the Compliance function on all compliance related matters as required.
Candidates will also have a good understanding of the FCA’s high level principles, conduct of business rules and ICOBS. A detailed understanding of wholesale and retail insurance business and the conduct risks which attach to these products. Familiar with the concept of Agency Law; delegated authorities and outsourcing arrangements. Solid knowledge of Financial Crime legislation and experience in AML, sanctions, anti-bribery and fraud. Excellent written and verbal communication skills.
Duties include the participation in on-going conduct risk strategy and control framework, with particular focus on effective monitoring and oversight of Insurance Agents and the wider business. Development of compliance processes in accordance with market practice and to meet regulatory expectation. Ensure policies are implemented and embedded in the business. Provide solutions and local guidance to financial crime risks in compliance with applicable laws and global rules framework, including sanction queries. Analysis of regulatory publications and thematic reviews to identify potential risks within existing governance framework. Update and produce policies and procedures with the development of suitable compliance processes as required. Undertake review of client on-boarding and due diligence of prospective new commercial relationships. Co-ordinate and participate in project work
Supporting the assessment of risk impacts of new legislation and regulation. Support annual risk and control (ICS) assessments as required. Participate as required in the risk based audit programme to ensure regulated activities, key outsourced functions and agency agreements are operating effectively.
This job was originally posted as www.jobsite.co.uk/job/960292864