General Insurance Risk and Compliance Manager

Job Reference: BBBH3254_1569501555

Insure Recruitment Ltd

Insurance Risk & Compliance Manager – West Sussex – 3 months contract up to £40,000 Pro Rata

Our client is actively seeking an experienced Insurance Risk and Compliance professional to add extra resources to their compliance team on a contract basis.

The main purpose of the role is to work as part of the senior management team to ensure the firm is meeting the principles and rules set by the regulator. The Risk & Compliance Manager is responsible for monitoring the systems and controls in place, maintaining use of these systems and controls and implementing new ones where appropriate. Providing agreed regular MI reports on the status of compliance within the firm including any non-compliance or notifiable breaches identified. Ensuring all staff are aware of the firm’s culture of compliance their compliance obligation, and in particular, those related to the fair treatment of customers.

Duties include:
*Keeping up to date with regulatory developments
*Advising senior management in a timely manner about FCA related issues and other regulatory issues and any changes to FCA regulations
*Co-ordinating with senior management and the firm’s compliance consultants in producing compliance manuals and reports
*Ensuring the firm’s activities comply at all time with its procedures and FCA requirements
*Training and monitoring of all staff in areas of compliance
*Training and development of direct reports

Compliance Functions
*Monitor new regulatory mandates, rules and requirements, ensure that compliance policies are kept up to date and that revisions are disseminated in a timely manner
*Assess the possible impact of any regulatory developments on the operation of the business and work with senior management to develop policies and procedures to comply with any new developments
*Propose, gain sign off for and deliver the Compliance Monitoring Plan
*Report back to senior management on current risk and compliance performance highlighting areas of concern
*Maintain the company Risk Register performing risk assessments to understand the level, significance and scope of risk
*Maintain the Business Continuity/Disaster Recovery Plan
*Provide advice and guidance on how to remain compliant within appropriate current FCA, DPA/GDPR and Financial Crime regulations including Financial Sanction requirements for the UK while ensuring that the strategic developments of business are met
*Handle complaints and and ensure “root-cause” analysis of complaints is undertaken and any conclusions acted upon
*Design and implement a compliance training programme including a new starter induction programme ensuring employees are competent and remain competent for the work they do
*Conduct regular file reviews to assess performance and identify training needs
*Be a point of contact for managers and employees regarding compliance related queries
*Collaborate with other departments to create a culture of compliance
*Review and assist with the sign off of template documents, marketing materials, financial promotions, advertising literature, presentations and websites to ensure compliance with regulatory requirements reinforcing core compliance values across the business
*Manage regulatory returns and FCA applications
*Provide co-ordination and support for both internal and external audit reviews and regulatory visits
*Undertake and coordinate all compliance monitoring activities
*Assist with the production of management information for regulatory reporting and Board reporting purposes
*Provide regulatory assistance with projects as they arise including the implementation and monitoring of the internal systems and controls after completion of the projects to ensure controls are maintained

Knowledge and Understanding
*Strong understanding of the insurance industry, the regulatory environment within which the firm operates and the regulatory requirements it must meet
*Considerable knowledge of the FCA handbook, consultation papers and publications and the application of same in an insurance context
*Understanding of the financial services regulated products
*Good understanding of Data protection Act and GDPR
*Previous experience of working within insurance sector
*Commercial awareness

Office hours are Monday to Friday 9am to 5pm
Parking on site
Great work environment
For further information please contact Marion at Insure Recruitment

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