Head of Compliance – General Insurance

I’m working exclusively with a very successful, innovative and technology-driven Personal Lines Insurance Intermediary to recruit a Head of Compliance. This is a newly created role that will involve establishing a comprehensive and effective compliance and risk control framework with an emphasis on conduct risk management, operational excellence and customer centricity. The role is based in Richmond, London but with flexibility to work 2-3 days a week from home. PLEASE ONLY APPLY IF YOU HAVE STRONG COMPLIANCE EXPERIENCE WITHIN PERSONAL LINES INSURANCE.

The main responsibilities of this very hands-on role will include

• Recruiting, coaching and developing a small, high-calibre Risk & Compliance team.
• Mapping all relevant risk control and compliance requirements against the company’s new target operating model.
• Establishing a comprehensive risk control and compliance framework with actionable KRIs, satisfying the MGA and insurance carrier partner’s governance objectives.
• Leading continuous improvement of the regulatory compliance function and associated governance, processes and tools
• Providing formal approval for changes at key points in processes (including final sign-off, where relevant) – for example, websites, financial promotions, customer documentation, pricing changes, Customer Impact Assessments etc.
• Provision of high-quality advice and guidance to all lines of business (e.g. Product teams, marketing, etc.)
• Engaging directly with all external, customer-facing business partners (TPAs, etc.) who operate under delegated authority agreements and capture, analyse and report relevant Conduct Risk MI on a monthly basis in accordance with requirements.
• Ensuring that external business partners consistently adhere to their contractually agreed service levels and to escalate performance issues
• Conducting monthly risk reviews onsite with selected business partners, documenting shortcomings and proposing detailed remediation plans; taking a proactive stance and escalate issues immediately when you have identified a potential conduct or reputational risk
• Contributing to the risk register and action log in alignment with the MGA’s (and insurance carriers) risk management policy as appropriate.
• Maintaining a good working relationship with the Financial Ombudsman Services, the FCA and other relevant regulatory or industry bodies; scanning the horizon for new emerging risks.

To be considered for this excellent opportunity, you will have significant Compliance experience within Personal Lines insurance (either an insurer or intermediary). You will have a deep understanding of General Insurance regulations including ICOBS, Delegated Authority and PROD4 and be considered a subject matter expert in your field. You will have a proven track record of designing and implementing risk and compliance control frameworks and be able to demonstrate strong commercial awareness. You must have extensive experience of working with Senior / Executive Management and possess superior stakeholder management and communication skills. It is essential that you are happy operating in a hands-on capacity.

Location:London

Salary:£90k - £110k + bonus + benefits

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