A leading international insurance broker is expanding rapidly & now in the market for a Compliance Monitoring Manager on a permanent basis. Duties
Technical:
Develop, implement and continue to enhance a Compliance Monitoring Framework
Provides expertise and undertakes gap analysis for areas under review, assessing potential impacts, as well as providing advice and recommendations on how to improve/mitigate risks.
Scopes the terms and conditions of reviews
Enters findings/assessments onto spreadsheets/summary sheets/data bases to ensure consistency of approach, confirms all relevant information is collected and enable a full audit trail of research
Prepares reports, capturing all key information and highlighting risks, priorities, recommendations and presents findings to SMT
Progresses reports to final stage, providing copies to relevant individuals/departments
Provide updates on progress on remedial action plans for quarterly board reports
Strategy & Planning
Prepare an annual Compliance Monitoring Plan
Determine personal and team priorities and activities in line with agreed objectives
Maintain, develops and implements the Monitoring Plan for the Operating Unit, producing a risk profile/heat-map to assess priority areas
Liaise regularly with the first line of defence assurance and monitoring functions
Work with the Management Information Function to develop efficient and innovative ways of creating regular MI reports and feeds to target audiences
Work with other teams within the Compliance Function to provide support and guidance in delivering specific compliance monitoring reviews and/or MI metrics analysis.
Act as a point of liaison within the Operating Entity and between other key contacts
Participate in specific initiatives/projects to conduct research, review and develop new ways of working.
Provides input into the plans of the wider Compliance Function in order to ensure these include appropriate considerations for delivery.
Delivers high quality advice to the business in a practical and commercially focused way in relation to their area of subject matter expertise.
Manages assigned projects and contributes to other projects as required.
People Management/Personal Development:
Manages the performance of direct reports and any people management issues connected with teams within their area of responsibility
Acts as a role model for positive management and leadership behaviours
Identifies and hires talent, ensuring that recruitment plans are in place to attract new member of staff and managing recruitment processes where required
Manages the team to ensure they have relevant objectives, which align personal goals to the requirements of the business. Positively encourages professional and personal development of all team members to increase their capability and effectiveness
Ensures team members are competent to carry out their responsibilities
Motivates team to deliver high performance and achieve objectives
Retains and develops key team members, working with senior managers to develop succession plans where this is appropriate
Actively undertakes personal development to ensure up to date knowledge and understanding of best practice
Knowledge / Experience
Experience of operating in a compliance, monitoring or audit department of a financial services firm in the in the UK regulatory environment.
Proven track record of building strong and constructive relationships with colleagues/business areas at all levels (including senior management)
Commercial awareness and focus on the application of regulation within the insurance broking industry
Broad knowledge of relevant legislation and regulations.
Good knowledge and understanding of the FCA handbook - principles, rules and guidelines etc.
Broad knowledge and understanding of insurance, principles, products and services.
Broad knowledge of risk management practices.
Experience working in the insurance industry (Required)
