An established and highly respected Lloyd's Insurance Brokerage is currently recruiting for a Compliance and Risk Assistant for their London team.
Overall Role:
- To assist the Compliance & Risk Team in all areas of general compliance and risk administration, with specific focus on dealing with business queries, sanctions issues, counterparty due diligence, security assessments, and the compliance monitoring plan.
- Managing all aspects of administration in relation to FCA and other regulatory requirements, compliance and risk management
Desirable Experience:
- Experience within the Insurance market (ideally some exposure to the compliance & risk area)
- Good written and verbal presentation
- Strong administration skills
- Analytical
United Insurance Brokers Ltd
Job Profile
Compliance & Risk Analyst
Job Title:
Role Holder:
Compliance Officer and Compliance Manager
Line Manager:
Not Applicable
Supervisory Responsibility:
As required
Internal Committees/Forums:
As required
External Relationships:
Overall Role:
To assist the Compliance & Risk Team in all areas of general compliance and risk administration, with specific focus on dealing with business queries, sanctions issues, counterparty due diligence, security assessments, and the compliance monitoring plan.
Managing all aspects of administration in relation to FCA and other regulatory requirements, compliance and risk management.
Key Accountabilities
Compliance Inbox
Compliance
- Assist in ensuring that all statutory and regulatory rules are met
- Support the implementation of changes to UIB’s systems, controls, procedures and processes in response to regulatory rule and legislation changes in so far as these affect each area within the business
- Assist in monitoring and embedding regulatory publications and any impending changes to regulation
- Act as a trusted advisor and subject matter expert to advise, support, improve and guide the business on compliance matters such as the interpretation of applicable FCA, Lloyd’s and overseas regulations
- Assist in the production and monitoring of the annual compliance plan and ensure deadlines therein are met
- Assist in reviewing financial promotions and marketing materials
- Maintain registers relating to Terms of Business Agreements (TOBAs) and coordinate and process any associated documentation in relation to third parties inc. KYC Questionnaires
- Assist in the initial and ongoing screening of Third-Party Producers
- Manage processes and documentation relating to Product Oversight and Governance and Consumer Duty
- Maintain compliance logs and registers e.g. Conflicts of interest, Breaches, Sanctions, Complaints, Gifts & Hospitality, Contracts and Risk incidents
- Manage the Policies and Procedures annual review cycle and updates of these
- Assist in annual compliance training for all staff
- Ad hoc projects
Compliance Monitoring Reviews
- Assist with risk-based gap analysis/thematic reviews as required
- Carry out divisional risk-based compliance monitoring reviews to ensure that:
- legal, market, regulatory and Best Practice Manual requirements are met in all aspects of business acquisition, placing, claims and servicing
- high technical standards are maintained to achieve quality, minimal rework and minimal E & O exposure
- correspondence, documents, statistics etc. are retained on file in accordance with Best Practice Manual and divisional procedures providing a complete audit trail
Financial Crime Prevention
- Assist in reviewing and developing policies and procedures for anti-bribery & corruption, anti-money laundering, counter terrorist financing, sanctions, fraud and anti-tax evasion
- Support staff compliance through procedures adherence, guidance and training
- Monitor, review and resolve positive matches emanating from KYC screening of UIB’s clients, underwriters and third parties
Security & Counterparty
- Review security and counter-party agreements such as agency agreements, client terms of business agreement, insurers’ terms of business agreements
- Oversee new agreements to ensure due diligence is completed effectively and any issues are escalated to the Head of Risk & Compliance as necessary
Risk
- Assisting in the management of the risk management framework, including updating of risk registers, key risk indicators, risk appetite, risk controls, risk assessment and risk reporting.
Desirable Experience:
- Broad experience within a compliance & risk area
- Good written and verbal presentation
- Analytical
- Understanding of all aspects of financial crime
- Involvement with the carrying out / delivery of a compliance monitoring plan
- Seeking 1st Analyst role
Knowledge and Skills:
- Regulatory environment including FCA rules and handbook
- IT – Excel intermediate
- IT – Outlook
- IT – PowerPoint
- IT – Word
- Presentation Skills
- Relationship management
- Planning and organising
- Time management and prioritisation
- Communication skills – excellent verbal and written skills
- Market and industry structure and operation, including regulatory awareness
- Accuracy and thoroughness
- Enthusiasm
- Good at taking ownership
