Job Title: Head of Compliance – London Market Insurance Location: London/Hybrid Salary: up to £150,000
Overview of the Role:
As the Head of Compliance, you will be responsible for leading, developing, and maintaining the compliance function within the organisation. This is a senior leadership role that requires a proactive and dynamic professional capable of navigating the complex regulatory landscape of the Lloyd’s insurance market.
Key Responsibilities:
Regulatory Oversight/Interaction:
Develop and oversee the compliance strategy to ensure adherence to Lloyd’s of London regulations, the Prudential Regulation Authority (PRA), Financial Conduct Authority (FCA) rules, and other applicable regulatory bodies.
Monitor developments in insurance regulations, ensuring the business is aware of and complies with emerging regulatory requirements.
Act as the primary point of contact for regulatory bodies and industry organisations, fostering strong working relationships with regulators.
Compliance Framework & Policy Development:
Design, implement, and update a comprehensive compliance framework tailored to the specific needs of a growing Managing Agency.
Draft and enforce compliance policies and procedures, ensuring they are aligned with the company’s strategic goals and regulatory requirements.
Provide guidance and training to senior leadership and staff on key compliance issues, enhancing the overall compliance culture.
Governance & Ethical Standards:
Promote and uphold a high standard of corporate governance and ethical conduct within the organisation.
Advise on the implementation of appropriate governance structures and processes to support the long-term growth of the business.
Ensure the company’s culture, business practices, and interactions with stakeholders align with the highest ethical standards.
Regulatory interactions & Stakeholder Engagement:
Work closely with other departments, including Underwriting, Claims, Finance, Legal, and Operations, to ensure a unified approach to compliance.
Support business development initiatives by providing compliance expertise and ensuring new business practices comply with regulatory requirements.
Represent the company at industry forums and events, showcasing the company’s commitment to regulatory excellence.
Skills & Experience Required:
Minimum of 8-10 years of experience in compliance within the insurance industry, with a strong understanding of the Lloyd’s of London regulatory framework.
Proven track record in leading compliance functions, preferably within Insurance.
Experience working with UK regulators, including the FCA and PRA
In-depth knowledge of insurance regulation and compliance frameworks specific to Lloyd’s
Strong leadership skills with experience managing and developing a compliance team.
Excellent interpersonal and communication skills, with the ability to engage with stakeholders at all levels, including senior management and external regulators.
The ability to influence decision-making at the Board level, providing strategic insights on compliance matters.
Strong analytical skills, with the ability to interpret complex regulatory requirements and apply them effectively within a growing business context.
Personal Attributes:
Strategic thinker with a hands-on approach.
Strong commercial acumen with the ability to balance regulatory requirements and business growth.
Highly organised, with a detail-oriented mindset and the ability to manage multiple projects simultaneously.
