Monitoring Manager

ROLE PROFILE: Monitoring Manager (Insurance)
 
JOB FAMILY: Risk, Legal & Compliance
 
 
ROLE PURPOSE:
You will be responsible to setting up and maintaining the Compliance Monitoring plan.
 
Duties
·       Providing a single view of the regulatory risk landscape to regulators.
·       Providing relevant management information to the CRO and the Senior Management to inform their understanding of regulatory risks and customer outcomes the business. 
·       Developing Central Compliance Monitoring Plan in collaboration with the parent company and Internal Audit.

 
KEY ACCOUNTABILITIES
Planning (and Strategy):
Reporting
·       Present agreed monitoring metrics to present overarching regulatory risk view across all regulated entities.
·       Prepare reports for Compliance to include in their own Governance Packs, where this relates to MI, data or reviews undertaken solely.
·       Review Regulatory and Governance Committee Packs to identify any other key matters of interest, emerging risks, trends etc.
Data Monitoring
·       Collaborate / coordinate with the wider compliance team to define the MI and monitoring results that should be provided centrally, seeking consistency where possible.
·       Investigate metrics and data available to determine what regular regulatory risk profiling and testing can be undertaken centrally.
·       Review Pillar reporting and understand regulatory performance, key emerging risks, trends etc.
·       Where any risk indicators are identified, liaise with the individual Pillars to verify the results and consider if action required. 
·       Develop strategic approach for enhancing data monitoring capabilities.
Thematic Reviews
·       Undertake thematic reviews for key regulatory risks, either planned or in response to increased risk profiles, downward trends, incidents or regulatory requests/focus.
·       Plan annual schedule of thematic reviews with individual Pillars to avoid duplication.
·       Liaise with Compliance stakeholders as required, in order to scope, complete and report on thematic or investigatory reviews.
·       Request information from and interact directly with the impacted businesses, undertaking deep dive reviews of records, files, systems and data as necessary.
·       Deliver thematic reports and results
Technical:
·       Good knowledge of FCA requirements specifically relating to Non-life insurance products.
·       Good knowledge of the FCA handbook including
·       Good knowledge of SM&CR
·       Good knowledge and understanding of insurance, principles, products, and services.
Policy, Process and Procedures:
·       Establish a Terms of Reference for central monitoring reviews.
·       Establish a scoping process for thematic reviews.

KNOWLEDGE/EXPERIENCE:
·       Minimum of 2 years’ experience working in a second line Insurance services compliance role.
·       Experience of operating in a monitoring or audit role of a financial services firm.
·       Experience of working with senior management.

SKILLS/BEHAVIOURS:
·       Strong regulatory focus.
·       Strong written and oral communication skills.
·       Strong analytical skills
·       Intrusive and persistent
·       Strong planning, organisational and time-management skills.
·       Influencing skills in securing buy-in to recommendations.
·       Pragmatic – able to determine how regulatory requirements should be translated into business processes.
·       Ability to build effective relationships with senior managers and other key stakeholders within the Pillars and across the Group.
·       Ability to diagnose problems quickly and have foresight into potential issues.

QUALIFICATIONS
·       Compliance Industry or Internal Audit recognised qualifications desirable but not essential depending on relevant experience.
·       Educated to a minimum of ‘A’ level standard.