RELOcruitment Looking for Insurance Compliance Analysts – Senior and Junior at London , South East England Full Time

RELOcruitment has the pleasure of assisting the recruitment needs of aspecialist professional services and technology firm, which works in partnership with leading insurance, highly regulated and global businesses to manage risk, operate their core business processes, transform and grow. Our multi-national blue-chip entity has a global team of more than 3,700 professionals which operate across the UK, Ireland, the US, Canada & Bermuda.

They are now growing their Insurance Services Compliance team and have immediate openings for both Junior and Senior Analysts.

We are looking to speak to ambitious candidates who are looking to build a career within Insurance Compliance by joining a rapidly growing organisation who are heavily involved in M&A. Hard work and loyalty will be rewarded with career progression. This is not a role for somebody looing for their next pay increase and a one-year pit-stop. After 2 years’ service, share options will become available – a rare perk!

Opportunities for Overseas travel will also be available for the successful applicants.

Experience in compliance is a benefit yet not essential, more importantly you will understand the Insurance Industry, ideally with some working knowledge of the MGA Vs Broker model and working with Appointed Representatives.

The client run an agile working environment. This is a hybrid role, with a minimum 2 days a week needed in their City of London office.

Purpose of Function:

The successful candidate will support the Compliance & Risk Manager, Compliance Director and the compliance team to deliver, maintain and help comply with Insurance Services regulatory compliance framework and oversee the Intermediary Services’ network of Appointed Representatives. The role will also cover the oversight of the global Insurance Services entities acting as a group oversight function.

Key Accountabilities and Performance Standards:

• Assisting with the implementation and monitoring of the Insurance Services’ compliance monitoring plan (CMP);
• Assisting with regular oversight of the Dexisting and growing network of Appointed Representatives (AR’s);
• Support the Compliance Director and team with all acquired businesses within Insurance Services Compliance;
• Assist with the launch of new AR’s undertake due diligence, review policies and procedures and assist with the updating of internal policies and procedures;
• Making applications on the FCA’s Connect system and assisting with the administration of the regulatory RMAR reporting;
• Review financial promotions in line with ICOBS rules and review customer journeys for AR’s in the launch phase. Have a proactive approach to help and support the Compliance Director, Manager and Senior Compliance Analyst/team and their team;
• Assisting the compliance team to undertaking relevant due diligence on new clients and undertake compliance monitoring visits;
• Assist with preparing board reports for each AR and compliance board meetings, Group Risk & Governance Board;
• Review Insurer audit reports and draw recommended remedial actions to the AR;
• Understand the IDD requirements and ensure all AR’s who fall in scope adhere to this important requirement;
• Review Conduct risk reporting forms, assist with risk framework and have a robust approach to compliance monitoring whilst responsible for allocated ARs and working as a team to support entire client AR estate;
• Fundamental requirement is to work closely with the entire team and to support one another.

Internal Relationships:

To work closely with the Compliance Director, Compliance and Risk Manager, Compliance team, CEO Intermediary Services, CEO Insurance Services, Finance Director, other controlled function Directors, Head of Legal, Legal Counsel, Head of Client Solutions and Compliance team.

External Relationships:

To build strong relationships with the key stakeholders, including CEO’s, Directors and Managers of IS’ Appointed Representatives. To work closely with the FCA, FOS, Lloyd of London, PRA, FSCS, CII and other useful organisations such as MGAA and BIBA.

Essential Qualifications/Desirable Experience:

• The candidate should have circa 2 years’ work experience preferably in a compliance function within the general insurance sector.
• The Candidate should understand regulatory rules and how changes affect the wholesale and retail market (retail market would be preferable).
• The candidate should have experience in reviewing financial promotions and have a sound understanding of the appointed representative model.
• The candidate should be willing to learn, can work on different tasks in a fast-moving environment and have a keen interest in compliance or regulation.
• Working towards, or having a passion to work towards, a relevant qualification such as the Chartered Insurance Institute (CII) qualification would be preferable.
• Have a sound understanding of the MGA model specifically in relation to the regulatory oversight of appointed representatives and an understanding of the outcomes from the FCA’s Thematic review (TR16/6: Principals and their appointed representatives in the general insurance sector).

Generic Knowledge and Skills:

• An understanding of FCA rules such as PRIN, ICOBS, SYSC, PROD and SUP Supervision.
• The candidate should have a clear understanding of the implications of IDD, GDPR, Brexit and the importance of applying the Training and Competence requirements within DIS and across the network of (AR’s).