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Compliance Officer

Broadgate Search
Closing date
23 Feb 2021

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Job Details

Broadgate are working closely with a London-based insurance broker who are currently recruiting for a Compliance Officer to join their growing team.

***The ideal candidate must have significant Compliance experience working for a reinsurance or Lloyds Broker. Without this experience, you will not be considered***

Role Purpose

To ensure that all group entities comply with all relevant regulation and legislation. This roll will suit an individual who is personable and meticulous, comfortable taking ownership and initiative when working independently and alongside the wider business when needed. The successful candidate should have a strong understanding of the FCA's handbook, rules and guidance applicable to (re)insurance, with particular experience working within a reinsurance or Lloyd's broker.

Key Responsibilities

  • Be a point of call for internal day to day compliance queries particularly in relation to reinsurance and Lloyd's requirements
  • Embed and communicate Lloyd's requirements as appropriate
  • Ensure Lloyd's systems such as Atlas, BARs and AIMs are appropriately updated
  • Support the Head of Compliance in ensuring that the firm's activities comply at all times with both its own internal procedures, FCA and other legislative requirements
  • Provide guidance to the firm and key stakeholders to enable them to understand their regulatory responsibilities and the implications for any change
  • Take an active role in projects for the implementation of new regulatory regimes, such as SM&CR or Brexit within the firm
  • Assist in the design, drafting, review and implementation of the firm's compliance policy documents and procedures
  • Support the Head of Compliance and HR Team in the effective delivery of the firm's training and competence plan, including the provision of training sessions
  • Support the effective delivery of the firm's internal audit function including the preparation of clear, unambiguous feedback and provide findings to key stakeholders
  • Collate and prepare data for the production of management information packs and suggest improvements to processes as a result
  • Assist with all data protection matters within the business
  • Involvement with the firm's sign-off process for financial promotions
  • Ensure the firm meets its financial crime prevention responsibilities, including but not limited to: anti-money laundering, anti-bribery & corruption, financial sanctions, politically exposed persons, etc.
  • Support the firm to ensure that adequate records are kept throughout the organisation to demonstrate compliance with FCA requirements and to facilitate regulatory reporting
  • Ensure there is appropriate oversight of the firm's Appointed Representatives
  • Oversight of the firm's TOBA management process ensuring sub-broker and (re)insurer lists are kept up to date
  • Support the Head of Compliance with ensuring the firm has the appropriate local and international licences and permissions

Experience & Knowledge

  • At least 2-3 year's relevant compliance experience within the (re)insurance and Lloyd's market.
  • Ideally having worked in a compliance role in a reinsurance or Lloyd's Broker
  • A strong understanding of the FCA's and Lloyd's rules and guidance particularly applicable to the (re)insurance sector
  • Preferably educated to A-level standard or equivalent
  • Insurance or compliance qualifications e.g. CII, ICA (Desirable)
  • Good level of IT literacy particularly in Excel and Word
  • A personable individual is key, willing to learn and comfortable working in a diverse, face paced environment
  • High attention to detail
  • Strong organisation and time management skills
  • Ability to multi task and manage projects
  • Team worker with the ability to work on own initiative

For more information, please email
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