Role
We are looking to recruit an experienced Compliance Officer to ensure our Company
adheres to its legal and regulatory standards as well as its own in-house policies. The goal
is to preserve the Company’s integrity by ensuring it continues to operate in a lawful,
ethical and commercial manner and all times to protect our insurer.
Requirements
A successful Compliance Manager must have the following attributes:
- A successful Compliance Officer must have the following attributes:
- A degree in law, finance, business administration or related field;
- Certified compliance professional in the insurance industry is essential;
- Proven experience as compliance officer;
- An in-depth knowledge of the industry’s standards and regulations;
- Excellent knowledge of reporting procedures and record keeping;
- A business acumen partnered with a dedication to legality;
- Methodical and diligent with outstanding planning abilities;
- An analytical mind able to “see” the complexities of procedures and regulations; and
- Excellent communication skills
Responsibilities
With the support of the Directors of the Company and an external compliance consultant
company the Compliance Manager will have responsibility for the following:
Insurance regulatory activities
- To be the first point of contact for all compliance issues;
- Be the lead on insurance regulatory issues and where required, to obtain advice from local lawyers and/or third-party consultants;
- Lead applications for new insurance authorisation e.g. Insurance brokerages, insurance agencies;
- Ensure compliance with all relevant insurance authorisations;
- Develop and implement compliance audit/monitoring programmes for all members of staff; and
- Regularly review and report on key data from programmes for compliance purposes
External facing activity
- Liaise with regulators and external authorities as appropriate
- Liaise with our insurer in relation to compliance matters
Internal facing activity
- Preparation of compliance reports to management and to the board
- Cascading relevant information to personnel and overseeing appropriate training
- Periodic reviews of operational activities and controls including outsourced
services - Oversee annual CPD requirements and to co-ordinate relevant training and
guidance in this area in conjunction with the HR director. - Actively participate in management training, including new starter induction
programmes;
Drafting
- To review and update the various Terms of Business Agreements, on an annual basis
- Draft customer terms and conditions and lead input by commercial colleagues into these
- Provide regulatory input into client agreements on compliance matters, where
required
Product governance
- Undertake a review of existing products and services and related materials on at
least an annual basis
Risk management
- Lead and implement the risk management function within the Company
Develop/Design
- Review, modify or draft company policies, procedures and action plans or operating
- guidelines to comply with applicable regulations;
- Develop a compliance plan for the various departments to include its implementation and management;
- Assess the company’s future ventures to identify possible compliance risks;
- Assess product, compliance, or operational risks and develop risk management
strategies; - Assess the possible impact of any regulatory development on the operations of the business and ensure the business remains compliant;
- Design or implement improvements in communication, monitoring, or enforcement of compliance standards;
- Evaluate testing procedures to meet the specifications of environmental monitoring programs
Ad Hoc
-
Review and assist with sign off on financial promotions and advertising literature for
the company, Appointed Representatives and agents, reinforcing core compliance
values across the business;
-
Provide advice and guidance on how to remain compliant within appropriate current
FCA, PRA, DPA/GDPR and Financial Crime regulations including Financial Sanction
requirements for the UK while ensuring that the strategic developments of the
business are met;
-
Report violations of compliance or regulatory standards to duly authorised
enforcement agencies as appropriate or required; and
-
Remain informed regarding pending industry changes, trends, and best practices
and assess the potential impact of these changes on organisational processes.