Insurance Compliance Officer (London Market)

Compliance Officer

Primary Purpose of Job:

The primary focus of the role is to work with the Compliance Manager to meet the team objectives and deliver the compliance plan. This will be through a wide range of tasks including providing day to day advice to all areas of the business and being a key contact within the Compliance Team. A key focus of the role will be ensuring Conduct Risk requirements are met.  Expectation that the person in this role would develop to taking on responsibility for a number of key tasks within the compliance function in the medium term.

Major Goals

• Prepare and submit regulatory returns in a timely manner.
• Deliver training to Underwriting and Claims including for thematic issues.
• Deliver regulatory advice to teams including sanctions, licensing, tax and conduct risk queries.
• Work on the conduct risk governance processes, including attending the Product Oversight Group and product review forums.
• Keep up to date with Lloyd’s and FCA requirements to ensure all conduct requirements
• are met, including the FCA Product Governance rules.
• Complete other tasks that fall within the Compliance team as required.

Education / Experience

Educated to college level/equivalent with an appropriate qualification or relevant market experience.

Experience in the Lloyd’s Market, preferably within a Compliance team.

Key Skills

• Strong written and verbal communication skills.
• Team player whilst able to use initiative to complete tasks.
• Able to read and analyse complex documents such as regulations.
• Good organisational skills with the ability to prioritise tasks.
• Ability to provide a compliance perspective whilst considering business needs.

IT Knowledge

Microsoft packages including Word and Excel. Internet software.

Conduct Standards

The following conduct standards prescribed under the Senior Managers & Certification Regime are applied to the role:

• You must act with integrity
• You must act with due skill, care and diligence
• You must be open and co-operative with the FCA, the PRA and other regulators
• You must pay due regard to the interests of customers and treat them fairly.
• You must observe proper standards of market conduct.

The above contains the main outline of your duties.  However, it is inevitable that tasks may arise which do not fall within the remit of the above list.