Salary: c. £25,000
Our client is a specialist “A” rated insurer, who has been in business since business since 1976.
Working with some 425 Brokers, they have a Gross Written Premium circa £20m, covering Insurance and Employee Benefits – including running one of the largest private health corporate schemes in the UK on behalf of their members.
They are currently looking to add a Compliance Assistant to the Compliance team, to support the Risk & Compliance Manager in the development and delivery of the compliance monitoring program for the insurance company and their intermediary.
The main responsibilities for the Compliance Assistant will be to support the Risk & Compliance Manager in:
- Delivering the compliance monitoring plan.
- Preparing compliance MI and the reporting pack for the Risk & Compliance Committee and the Executives.
- The identification and mitigation of regulatory risks including identification and implication of emerging regulatory issues.
- Preparation of regulatory returns.
- The compliance reviews of delegated underwriting authorities.
Additional duties will be:
- To maintain the compliance packs.
- To monitor compliance with reporting obligations in line with the regulatory reporting framework.
- To assist in the development, documentation and maintenance of compliance procedures.
- To support the Risk & Compliance Manager in the policy development and review process
- Attend and take minutes at meetings as required.
- To undertake staff training to raise awareness and understanding of regulatory and compliance matters and provide advice on compliance related matters as appropriate to the business.
- Take the initiative and lead projects under Risk & Compliance Manager’s supervision to assist in delivery of the departmental objectives.
Person / Experience Required
The ideal candidates for this role will have:
- A good understanding of the UK insurance regulatory framework that is applicable to general insurers – including Solvency II.
- A basic understanding of the UK regulatory framework that is applicable to insurance brokers – including client money regulation.
- Prior experience of working in compliance within a general insurance company.
- Prior experience in delegated underwriting authority compliance reviews is desirable.
- Basic knowledge of data protection and information security matters is desirable.
- A high technical ability in Microsoft Word, Excel, Powerpoint and creating Project plans.
- Knowledge of Microsoft Visio and MS Project is desirable but not essential.
Educated to degree level or equivalent preferably with a background in law.
Working towards a CII qualification or willing to study towards a CII qualification.