Working as a member of the Compliance Team, you will be responsible for preparing and delivering the Compliance Monitoring Plan in order to provide assurance on the adequacy of systems and controls and to support the delivery of the Risk and Compliance strategy.
In this role you will be instrumental in enhancing the Company’s internal practices and assisting in fostering a culture of compliance and ethical behaviour across the organisation
Responsibilities:
- Participate in the development of the Compliance Monitoring plan in accordance with the annual Compliance Business Plan and the Group Risk and Compliance Framework.
- Scope and carry out second line business reviews across the group in line with the Compliance Monitoring Plan.
- Undertake thematic monitoring on key regulatory focus areas and areas identified from the management information and monitoring findings.
- Monitor the implementation and embedding of the Group policies and minimum standards.
- Prepare compliance monitoring reports to present findings and recommendations to key stakeholders and senior management.
- Discuss and agree any remedial actions emerging from monitoring activities and support the implementation of required changes.
- Ensure that agreed actions resulting from monitoring reviews are tracked to completion and escalate any actions that will not be completed within the target date.
- Prepare quarterly reporting to Boards and Committees.
- Participate in projects as required and/or provide specialist input into compliance and business initiatives.
- Prepare and deliver training and presentations on monitoring and regulatory developments.
- Monitor changes to the business and areas of regulatory change and work with colleagues to assess the impact on the compliance testing and monitoring plan and the business.
- Proactively contribute to the maintenance & development of the Group’s risk management, regulatory compliance & quality framework.
- Work collaboratively across the Compliance team, providing assistance/support to other team members and proactively sharing information/learnings to benefit the wider team.
- Seek opportunities to continuously improve ways of working and contribute to business improvement projects aimed to drive operational efficiency and good customer outcomes.
- Monitor changes to the business and areas of regulatory change and work with colleagues to assess the impact on the compliance testing and monitoring plan and the business.
Experience:
- 2+ years experience in a compliance monitoring or 2lod assurance role
- Experience in financial services (preferably insurance)
- Prior experience in regulatory compliance, audit or risk function.
Skills:
- Ability to influence and negotiate across business units
- High level of attention to detail
- Excellent planning & time management skills with an ability to work to deadlines
- Excellent communication and presentation skills
- Good interpersonal skills with ability to work collaboratively and hold robust dialogue
- High levels of integrity, enthusiasm, commitment and energy
- Solution driven approach
- Ability to work independently
- Regulatory knowledge/understanding required.
- Commercial awareness and focus on the proportionate application of regulation within the insurance industry