Overview
Compliance Analyst role at Munich Re Specialty – Global Markets (MRS-GM). Based in Manchester, full time. The Compliance Analyst will join the MRSG Compliance Department to assist in arranging compliance activities across the organisation to meet Solvency II, FCA, PRA, Lloyd’s and other applicable regulatory standards. You will support Compliance Managers in providing oversight, support and challenge to MRSG Appointed Representatives and other key third parties, working with subject matter experts within Risk & Compliance as appropriate.
Seniority level: Mid-Senior level
Employment type: Full-time
Job function: Finance; Industries: Insurance
Responsibilities
* Support the Compliance Manager (Third party oversight) in ensuring effective second line oversight of any Appointed Representatives, Introducers and Introducer ARs
* Identify and mitigate exposure to regulatory risk, including notifying and reporting and evaluating impact on partners
* Collaborate with the Compliance Manager, the business, Legal Risk and Compliance team members to resolve issues and implement outcomes
* Draft, implement and review frameworks, policies and procedures
* Promote a compliance culture internally and externally when interacting with third parties/stakeholders
* Provide ongoing support to the first line of defence and key third parties regarding compliance obligations
* Support the wider team in delivering the compliance strategy
* Assist with delivery of compliance and business-led projects and other ad hoc requirements
* Work with key functions (Delegated Authorities, Underwriting, Claims, Complaints) to ensure ongoing compliance
* Provide advice to marketing teams on financial promotions
* Assist in preparing management information (MI) and reports to Senior Managers as necessary
* Help drive good Conduct for the business to deliver optimal customer outcomes
* Keep up to date with regulatory changes relevant to the FCA or other regulators
* Monitor conduct MI from third parties to identify conduct risks and propose mitigating actions, in conjunction with the Compliance Manager and Conduct Risk team
* Understand escalation responsibilities and the roles of committees, forums, ExCo and Board for Conduct Risk
* Carry out compliance monitoring reviews as required
Knowledge and Skills
* Strong knowledge and experience of FCA conduct regulations, including Appointed Representative Regime, Consumer Duty, ICOBS, PROD 4, DISP, etc.
* Understanding of the current regulatory environment
* Ability to identify regulatory and compliance requirements and support their implementation
* Solution-oriented mindset with integrity and ethical decision-making
* Proactive, personable approach with ability to build relationships to implement change
* Experience within a regulatory compliance function
Diversity, Equity & Inclusion
At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act bravely and better. We recognise diversity can be multi-dimensional and complex, and we aim to build a diverse workforce with a wide range of backgrounds, identities, experiences, and beliefs. We are committed to creating an equitable and inclusive work environment where this diversity is celebrated and has opportunities to succeed. All candidates can request a reasonable adjustment at any point in our recruitment process by speaking to the Talent Acquisition contact.
Learning and innovating today, striving for sustainable societies and business tomorrow. At Munich Re Specialty – Global Markets our ESG approach underpins opportunities and a stimulating and inclusive work environment. Our ESG strategy covers environmental, social and governance topics including local community initiatives and volunteering opportunities for colleagues. Learn more about sustainability at Munich Re and choose your impact!
#BePresent #BeBold #BeCurious
Locations
Manchester, England, United Kingdom
#J-18808-Ljbffr