A specialist niche Lloyd’s Insurance and Reinsurance broker is currently recruiting for a Head of Risk and Compliance
Providing tailor-made solutions for both UK and International clients, the business provides innovative and reliable Insurance and Reinsurance cover for valued clients with a focus on Accident & Health, Life & Specialty, Employee Benefit, Travel, Reinsurance and Aviation business.
In parallel with its own business, the business also sponsors other brokers, in many cases as Appointed Representatives who wish to enter the Lloyd’s market and it acts as a service provider to these and other brokers by providing support services such as Finance, Compliance, Information Technology , and Human Resources .
Overall Purpose:
- To embed a strong and effective compliance culture across the Companies and Appointed Representatives, promoting the highest standards of compliance and corporate governance.
- Developing Compliance policies and processes and acting as a trusted advisor to the business.
- Managing relationships with all key stakeholders, ensuring that they are fully aware of their compliance responsibilities
Key Responsibilities:
Regulatory:
- Keeping abreast of all legislative, regulatory and governance developments that may affect Group Companies/Appointed Reps.
- Manage all aspects of the Group’s interactions with the FCA, ICO, or any other regulatory body as and when necessary.
- Maintain effective working relationships with the Regulators, including working with the GOC’S+ to ensure that each company provides a thorough, accurate and timely response to Regulator requests.
- Oversee the completion and timely submission of GOC’S+ regulatory forms and returns to the FCA and ensure that appropriate responses are made to FCA requests.
- Ensure the various GOC’S+ Boards remain informed of regulatory, legislative and best practice changes and their obligations under these changes and how they impact each company
- Oversee and develop the GOC’S+ compliance and risk management strategy to meet the current and future needs of the organisation
- Ensure that the GOC’S+ have fit-for-purpose compliance policies and guidance documents, and that these are well documented, communicated, rolled out and embedded across the GOC’S+
- Confirm and carry out set-up compliance processes for all new sponsorship companies
Risk Management:
- Lead the Group Compliance Committee and the associated compliance and governance processes to ensure the key risk requirements are being met.
- Provide the GOC’S+ Board with the required management information to monitor the effectiveness of compliance and risk controls and management processes
- Maintain appropriate systems and controls to ensure the GOC’S+ meets its regulatory obligations
Skills and competencies:
- An entrepreneurial minded compliance expert with the ability to apply risk and compliance strategies whilst supporting innovation.
- A strong and capable leader able to provide clear direction and guidance at all levels.
- Commercial and practical approach.
- A proven ability for managing and developing a Compliance team
- Relevant senior level Compliance/Regulatory experience within the Insurance Sector
- Strong stakeholder management skills.
- Committed to continually developing technical expertise.
- Strong knowledge of FCA Insurance regulatory requirements and of FCA’s expectations of regulated firms
Experience
- Solid experience in general insurance.
- Experience of an FCA regulated environment.
- Company secretarial experience would be an advantage and form part of the role should the candidate have this experience.
- Experience with Lloyd’s in Compliance matters is essential
