To assist the Conduct Risk Manager in ensuring the underwriting and issuance of all forms of open market and delegated underwriting business are carried out in accordance with Ascot’s conduct and customer outcomes protocols and procedures and, in line with the requirements of Lloyd’s Customer Outcomes Principle and Financial Conduct Authority (FCA) expectations.
To help embed conduct related changes into the business through procedures, policies, processes, and controls and provide key ongoing assurance work within these areas.
Assist the Conduct Risk Manager with:
Day to day operation of the Conduct Risk strategy and framework.
Carrying out a conduct risk assessment on new and existing products and obtaining approvals from stakeholders.
Reviewing, and where applicable, challenging the Fair Value assessments completed by internal Underwriters.
Ensuring Ascot’s products are manufactured and distributed in compliance with the IDD requirements.
Monitoring regulatory activities specific to Conduct, so the business abreast of regulatory and legislative developments
Review, comment upon and where necessary circulate regulatory communications and associated bulletins to staff.
Embedding new regulatory and legislative changes into policies, procedures and controls. Specifically, business activities through Lloyd’s.
Where required, assisting the Conduct Analyst with reviewing and responding to all complaints, making sure all communications sent are in accordance with relevant deadlines and contain the appropriate wording.
Support Conduct Risk Manager with maintaining and regularly updating:
Conduct Risk Policy
Complaint Handling Policies
Conduct Outcomes Document
Underwriting Procedure Manuals (Conduct and Complaints sections)
Any new policies or procedural documents required by the regulators
Other:
Ad-hoc projects as determined by the Conduct Risk Manager
As determined by the Conduct Risk Manager attendance at Conduct and Complaints related seminars, conferences, and market forums.
Where required work with Projects Team on relevant Conduct projects, to ensure appropriate deadlines are met.
Contribute to continuous improvement of conduct risk assessment processes.
Additional Requirements:
Minimum two years’ experience in a Conduct Risk role within the Insurance and preferably complaints handling knowledge and ability to use ‘Caresmart’.
Knowledge of the FCA requirements and key conduct risks within the insurance industry.
