Job Description
Title: Senior Compliance Associate
Division: Risk & Compliance
Reports to: Head of Advice & Guidance
Location: London
Job Purpose
* To provide efficient and effective support to the Head of Advice & Guidance, the Advice & Guidance Team and wider Risk & Compliance function in the provision of risk-based and commercially focused advice to the Amwins Global Risks Group (AGRG).
* To assist AGRG in its understanding of, and compliance with, all relevant laws and regulations.
* To assist in the implementation of effective risk-based controls.
Responsibilities
* Undertake screening of new & renewing business and payments for sanctions and financial crime indicators using tools provided and independent research, escalating potential matches to the Head of Advice & Guidance. Present findings relating to adverse results and recommending appropriate courses of action.
* Undertaking research in relation to UK and international law, regulation, financial & trade sanctions regimes and other ad hoc subjects as may be required to support the provision of risk-based and commercially focused advice to AGRG and its trading entities.
* Consideration and review of new and renewing counterparty relationships, including referral to the Head of Advice & Guidance and/or Chief Risk Officer and liaising with the Business Support Unit (BSU) and Business Divisions where required.
* Assist in reviewing ongoing sanctions and due diligence alerts and escalating potential matches.
* Assist in the review, negotiation and agreement of terms of business agreements (TOBAs) with market counterparties and other contractual trading arrangements or agreements with external parties, including non-disclosure agreements and broker transfer agreements, as well as creating and maintaining appropriate central records of this activity.
* Assist in the review and sign-off of financial promotions and other marketing material.
* Contribute to regulatory horizon scanning through analysing, recording, and communicating developments to key internal stakeholders.
* Assist with regulatory reporting and the submissions to regulators, including applications to perform controlled functions.
* Support the provision of training and engagement with other support teams and business units.
* Support administrative functions, projects and other responsibilities that may be required within the Risk & Compliance Team.
Personal Attributes
Knowledge/Skills/Qualifications
* Strong knowledge of current regulatory and legal measures applying to financial crime, including fraud, money laundering, sanctions and tax evasion.
* Strong knowledge of UK regulatory environment, including the FCA Handbook.
* Some knowledge of international regulatory environment is beneficial.
* Familiarity with the Lloyd’s market, its practices and operational infrastructure.
* Experience in reviewing and negotiating TOBAs and other agreements.
* Minimum six years’ Risk & Compliance experience within general insurance.
Key Competencies
* Able to effectively manage workload and competing priorities.
* Strong attention to detail and high levels of accuracy and precision.
* Excellent communication and interpersonal skills.
* Good stakeholder management skills.
* Ability to work within a team and support colleagues.
* Ability to conduct independent research and offer solutions to complex problems.
* Ability to convey complex information in a way which is easy to understand.