Compliance & Risk Manager

Job Description

The role provides direct support to the Head of Risk & Compliance for ensuring that we comply with the regulatory obligations and internal policies of our insurance businesses. In addition, the role includes supporting the soundness of the Risk ManagementFramework ("RMF") and the analysis, monitoring and reporting processes supporting the framework. The responsibilities extend across all categories and dimensions of risk and compliance that our entities are exposed to.The individual will work collaboratively with specialists within the wider risk function and actively engage with compliance teams in the cultivation of an effective culture of compliance.Sitting within the second line risk team this role is required to support the Head of Risk and Compliance and work with all members of the team.The core purpose of the role is to be engaged in all aspects of partnering the business and providing insightful compliance risk expertise, reporting as required and contribute to all aspects of the RMF.The ability to be engaged across multiple areas and translate risk and compliance for the business is vital.Key Responsibilities include: Compliance: to review and maintain the Compliance Policies, training and framework and provide assurance over the effectiveness of the processes in place to support regulatory compliance this will include having regular reporting and metricsto measure conformance to standards. In addition as the Compliance lead will be required to build strong relationships with stakeholders across all lines of defence to build greater understanding of compliance requirements in particular:

• Manage the regular review of the Compliance Risk Framework and polices, including delivering clear and concise internal policy updates on a regular basis, maintaining our policy standards framework
• Identification of training needs, maintain and deliver all training requirements including maintenance of the online compliance training modules
• Maintain a regular review of what tools are in place to support, in recording its conformance eg Gifts & Hospitality, compliance breach log. Ensure the tools are effective and well understood and reviewed regularly.
• Support our functions in understanding the regulatory markets of the companies that it supports and assessing the impact on contracted services
• Provide assurance to Executives on compliance with relevant regulatory requirements and exposure to new and emerging risk areas
• Lead and execute compliance monitoring reviews from beginning to end, following monitoring methodology, and ensure continual engagement on remedial actions
• Monitor regulatory change against the risk profile to identify emerging risks, contributing to robust and effective compliance controls within the organisation
• Delivery gap analysis, as required against the Compliance Polices and framework
• Investigate irregularities and non-compliance issues
• Educate wider stakeholders on regulatory matters and the impact if compliance is not met
• Keep up to date with, and understand, the legislative and regulatory landscape our insurance businesses, and critically assess the role in ensuring ongoing compliance and/or manage the appropriate actions accordingly
• Support and co own the monthly training group to discuss training needs and review content for all compliance policies and frameworks.

Risk Management:

• Provide risk assessments to understand risk level, significance and scope whilst offering second line assurance and effective challenge
• Ensure risks identified are adequately documented, reviewed, reported and managed with cost effective and proportionate controls to mitigate those risks across the enterprise
• Ensure the approach to risk management complies with best practice, meeting applicable regulatory and legislative requirements, and is agile to respond to changes in business risk appetite
• Ensure that our risk management activity aligns to the appetite of the relevant insurance businesses which it supports, escalating areas of concern where necessary
• Challenge and oversight of functional teams to ensure control assessments are adequately performed and that effective controls and/or plans are in place

Experience, Academic or Professional Education/Qualifications:

• 3-5 years of Compliance, Risk or Audit Experience (ideally with an insurance/financial services background)
• University Degree (Graduate) / Postgraduate in related areas of discipline (preferably).
• In-depth knowledge of the UK financial services regulatory and legislative agenda (FCA and PRA
• General level expertise in respect of risk processes, frameworks and procedures
• Experience of working with Compliance policies, Risk data and reporting
• Strong business awareness, delivery and customer service focus
• Good understanding of risk analysis best practice, controls, risk mitigation and operational context both within the insurance market and more generally
• Ability to interrogate complex policy wording and write internal policies
• Partnership working and working across Business units
• Compliance and Risk delivery expertise within a multi-stakeholder environment
• Results and delivery focus; a drive to continuously seek efficiency improvements
• Good interpersonal and presentation skills

Eames Consulting is acting as an Employment Agency in relation to this vacancy.

Keyskills :
insurancecompliancerisk managementoperational risk