A new job opportunity has become available working with a leading Global Insurance and Reinsurance Broker

Operations Control - Regulatory Lead

The purpose of this role is to ensure the business unit’s operations are conducted within the legal and regulatory framework, thereby protecting the company’s reputation and reducing the risk of regulatory penalties.
 
The role is key for ensuring a three lines of defence model is effectively operating and requires a strong business partnering approach to enable the effective delivery of the business strategy. 
 
The role remit covers the 1st line control environment and governance approach for the Specialty division and how this aligns to the wider approach whilst being appropriate for the business.

Responsibilities

Operational Support: To provide day-to-day support and guidance to operational teams on regulatory matters.

Regulatory Change: To support the delivery of major Regulatory Change programmes and own the delivery of smaller Regulatory Change projects.

Regulatory Compliance Implementation: Implementing and maintaining compliance with regulatory requirements within the business unit. 

Delivery of Operational Control Plan: To ensure 1st line Operational Control activity is achieved in line with the agreed delivery plan.

Advisory Role: To advise business leaders and other stakeholders on the operational impact of regulatory matters and compliance issues.

Stakeholder Communication: To communicate regulatory requirements and compliance status to stakeholders within the business unit.

2nd Line Engagement: To work closely with the 2nd Line Compliance function to understand new or changing regulatory requirements and the potential impacts

Continuous Improvement: To continuously improve processes and controls within the business to support adherence to Regulatory requirements in a way that still supports commercial growth. This includes identifying areas for improvement and implementing best practices.

Risk Management: To identify, assess, and mitigate regulatory risks within the business. This includes conducting regular risk assessments and developing strategies to manage and reduce potential conduct risks.

Training and Awareness: To educate employees on regulatory requirements and policies. This involves developing and delivering training and communications

Operational Control Team Oversight: To support the Managing Director of Operational Controls as deputy as well as in the day to day management of the team including workload and people management as the need arises.

Monitoring and Reporting: To continuously monitor business activities to ensure compliance with regulatory standards. This includes conducting regular reviews, and reporting any non-compliance issues to senior management.

Qualifications

• Demonstrates a strong understanding of operational practices and techniques and governing regulations
• Significant experience of operationalising regulatory requirements and changes is essential
• Experience of implementing Consumer Duty, PROD or Brexit changes desirable
• Risk management & Regulatory exposure – ideally within insurance, broking or underwriting environments;
• Solid understanding of FCA regulations and their applicability to general insurance – ideally in a Specialty business
• Knowledge of general insurance products, services, and classes of insurance including underlying legal principles and practices
• Ability to build rapport, establish credibility and to engage and influence stakeholders at all levels, internally and externally
• People development and management experience essential