Conduct Risk Officer

Arthur are working with a reputable Lloyd's Managing Agent that are looking for a Conduct Risk Officer to add to their growing team.

Although they are a successful Lloyd's business, this role primarily sits on the company market side of the firm.

This role is responsible for supporting the management and oversight of the Conduct Risk framework across all relevant legal entities. This includes compliance with:

• UK regulatory requirements, including Conduct Risk and Consumer Duty obligations under the Financial Conduct Authority (FCA), and
• EU regulations such as the Insurance Distribution Directive and the EU Commission Delegated Regulation on Product Oversight and Governance.

Key Duties and Responsibilities

• Act as a subject matter expert on conduct-related matters, including the Consumer Duty, FCA General Pricing Practices, and related annual reporting requirements such as value measures, pricing attestations, and pricing reporting. This also includes applicable EU regulations.
• Support the ongoing operation, maintenance, and enhancement of the Conduct Risk Framework, including systems and procedures for managing Conduct Risk and Consumer Duty in the UK, and Product Oversight and Governance across the EEA.
• Share leadership of conduct responsibilities with the Senior Compliance & Conduct Manager, serving as a key point of contact for conduct-related queries (e.g., policy wordings, claim denials, complaints, high-risk MI reviews).
• Contribute to the delivery and implementation of conduct objectives outlined in the annual Compliance Plan.
• Develop and refine management information (MI) to ensure effective oversight of conduct performance.
• Conduct horizon scanning to monitor regulatory developments and identify emerging risks associated with Conduct Risk and the Consumer Duty.
• Support the preparation and submission of regulatory filings to relevant authorities, including the FCA, ACPR, and Lloyd’s.
• Assist in the development and monitoring of Key Risk Indicators (KRIs) for business areas in scope.
• Oversee the complaints handling process, including the use and management of Lloyd’s complaint system (CareSmart), and ensure the timely preparation of complaint responses.
• Manage third-party complaints handlers, including performance evaluations and quality assessments of complaint resolutions.
• Handle escalated complaints involving the Ombudsman or Lloyd’s, including document reviews and providing resolution recommendations.
• Contribute to the preparation of quarterly conduct and product oversight reports.
• Collaborate with internal L&D teams and external training providers to coordinate and deliver conduct-related training.
• Coordinate responses to both internal and external product-related information requests.
• Support the conduct-related review and approval of delegated authority arrangements.
• Participate in the annual product review process with a focus on fair value assessments.
• Maintain a product feedback loop informed by complaints and conduct-related issues.
• Engage with third-party administrators and managing general agents, providing oversight, feedback, and monitoring resolution of identified issues.
• Work closely with the Claims team to define and implement appropriate complaint handling authority for third parties.
• Provide general support on conduct-related matters in response to evolving regulatory requirements and business priorities.

Required Experience & Competencies Experience:

• In-depth knowledge of the insurance industry and regulatory frameworks relevant to Conduct Risk in the UK and EEA.
• Experience in operating conduct-related controls within an assurance framework.
• Complaints handling experience, ideally including Company Market or European operations.
• Professional background in insurance or reinsurance.

Competencies:

• Strong communication and interpersonal abilities.
• Pragmatic, open-minded, and solution-oriented.
• Analytical mindset with a sound grasp of legal/compliance issues.
• Team-oriented and adaptable.