An established Lloyd’s broker based in Southend on Sea, Essex is currently looking to recruit a Compliance Analyst to assist the Head of Risk & Compliance to join their successful team. Experience in FCA compliance is essential This is a well-respected Lloyd’s insurance broker. Hybrid role. Experience in compliance within insurance and/or legal field is required.
Job Description Overview
Suitable candidates for the position will already have a working knowledge of the FCA and insurance compliance and will ideally have gained experience working within an insurance environment.
You will need to be able to cope with a busy work environment dealing with varied tasks throughout the day. Reporting directly to Head of Risk & Compliance. Assisting in the company’s compliance duties which include:
* Conduct Compliance monitoring and audits of the significant business processes to provide the business with assurance on FCA regulated business areas.
* Ensure compliance requirements are adhered to.
* Monitor, analyze and communicate new regulatory developments and legislation that affect the business and operation of the company and update department’s working papers as necessary.
* Provide guidance/sign off on financial promotions.
* Understand and implement oversight and audit requirements in accordance with SYSC rules.
* Develop and lead the Compliance Plan as agreed by the Board.
* Embed and communicate Lloyd’s requirements as appropriate.
* To support and assist the AML Officer as required.
* Lead projects and develop plans for implementation.
* Help to develop and create internal policies/procedures.
* Manage the breach register and evidence ‘end to end’ resolutions.
* Assist the Board of Directors to identify, manage and mitigate risks.
* Liaise with the regulators (i.e FCA) or Lloyd's in regards to queries or issues.
* Monitor FCA / Lloyd's publications and evidence action taken or lessons learned or review completed.
* Facilitating Insurer and client audits or reviews (i.e. Lloyd’s Binders etc).
* Collate data and complete filing of various returns to Lloyd's and the FCA as required.
* Attend external training events to enhance own knowledge and/or to assist with future legal/regulatory changes, reporting back to the Board and/or staff as appropriate.
* Reviewing and submitting new clients and insurers for approval
* Preparing the necessary paperwork for approval, conducting sanctions checks & contacting clients and brokers as necessary to obtain outstanding documentation
* Keeping the companies clients & insurers lists up to date
* Reviewing all company procedures & ensuring that these are FCA compliant
* Conducting files checks in both Southend & London and reporting back to Management
* Updating the Gift & Expenses Register
* Assisting preparing and implementing staff training programs
* Assisting ongoing projects
* Conducting files checks in London and reporting back to Management
* Assisting preparing and implementing staff training programs
Person Specification
This is a pivotal position within the company and therefore demands a responsible attitude. The ideal candidate will need to have strong computer skills. Good communication and organisational skills are also essential.
Desirable Qualifications
Professional qualifications either gained or working towards would be advantageous. These may include CII Insurance Exams or AML/Compliance Qualifications (ICA).
Our client is committed to continuous professional education and will offer study support when required.
Salary up to £50,000 per annum dependent on skiils/experience