Compliance Analyst

Job Description

Compliance Analyst Job Purpose:To assist the Compliance Officer in carrying out the Compliance Monitoring Plan including the monitoring of the Quality Assurance framework, supporting delivery of reports to intra-group teams and to the Citynet Management Team, and to create MI and supportthe accurate and timely delivery of regulatory returns.This role sits within the PIB Group 1st Line of Defence and will help drive improved customer outcomes.The ideal candidate will be enthusiastic, self-motivated and a good team player.Key Responsibilities:

• Work with the Compliance Officer and Group 2LoD to synthesise the meaning of regulatory rules and guidance, PIB Group policy developments, and their impact on Citynet
• Support the delivery of the monthly local horizon scanning process
• Support the establishment and maintenance of effective systems and controls in relation to legal / regulatory requirements and risk, specifically around the Consumer Duty requirement to deliver good customer outcomes, and Training and Competency;
• Support the delivery of monthly Compliance presentations to the Citynet management team
• Working with the business to ensure timely delivery of annual product reviews and preparation of data packs required for reviews as part of PIBs Product Oversight & Governance framework;
• Complete and return Product Information Exchange (PIE) requests from insurers and underwriting agents that act as product manufacturers;
• Logging policy / procedural breaches, data security / data protection breaches, and complaints
• Support the delivery and maintenance of the Compliance led training on PIB group policies and local processes to support staff training and competency standards, and CPD hours accrual for staff
• Manage the delivery of compliance monitoring as per the Compliance Monitoring Plan, in particular: Gift and hospitality, Quality Assurance (claims, broking & underwriting), Sanctions Monitoring, Financial Promotions

Quality Assurance (QA)

• Undertake Line 1 operational quality monitoring reviews;
• Identify common themes / learning outcomes to assist business areas;
• Work with the Compliance Officer to review internal processes and procedures to ensure compliance with FCA regulations and company procedural standards;
• Oversee and monitor breach logging, further to QA findings, undertaking appropriate root cause analysis and engaging with the business to ensure delivery of improvements

Skills & Experience

• Compliance monitoring activities
• Basic report writing, verbal and written communication and presentation skills; Competency using MS Office (Word, Excel, and Outlook); Strong organisational and time management skills, good written and verbal communication; Attention to detail.
• Desirable - An understanding of the Lloyds insurance market and wholesale commercial insurance, particularly P&C business lines. From a business background with broking / underwriting knowledge.

Desirable Qualifications and Knowledge:

• Any compliance / risk / governance related qualification e.g. ICA, ICSR, CII, ACAMs etc.
• FCA handbook knowledge (principles, rules and guidance). Insurance broking and MGA business activities. Financial Crime. FCA Business Plan and Strategy. Current areas of regulatory focus e.g., product governance, SM&CR and Consumer Duty. London market /Lloyds market. Key regulatory risks facing insurance brokers.

Further information:

• As well as a competitive salary we offer the following benefits -
• Competitive holiday allowance with the annual option to buy additional days
• Death in Service benefit of x4 salary
• Company pension scheme
• Very generous maternity and paternity leave packages
• A flexible benefits package which allows you to add additional benefits to your overall package
• Our benefits portal offers discounts on technology & electronics, cinemas, restaurants, days out, mortgage advice, travel and many more
• Referral schemes
• Discounted rates on PIB products
• We offer a first-class employee benefits and welfare package to support our employees with financial management, cycle to work scheme, counselling support, health screening, will writing, menopause support, books, stopping smoking and much more

We also offer a wide range of discounts including a kids pass – giving you discount to over 4500 attractions and activities, discounts at hairdressers and beauticians, climate change projects with lots of other options to choose.Why Work For UsCitynet is a Lloyds broker specialising in the placement of commercial business into the London market. We are a leading supplier of specialist products and services to insurance intermediaries including liability, motor fleet, property and professional indemnity.We pride ourselves on acting with integrity, honesty, and transparency, so we are continually striving to be better.Located in the heart of the City, our company is fast growing and fast-paced with a vibrant team. Understanding and helping our clients is of the utmost importance to us, therefore, our approach ensures that we attract the most talented professionals towork with us and create an environment where our clients and our team all thrive. Citynet is part of PIB Group, which means that we can enjoy the strength and leverage that come with being part of a larger group for the benefit of our people as well as ourcustomers.Location: LondonSalary £40,000-£45,000Benefits CompetitiveREF-207 609