Compliance Officer

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.

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. 

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