Compliance & Risk Officer

Nixon Allen Limited
London, UK
26 May 2019
28 May 2019
Contract Type
Level of qualification
Newly qualified, Qualified
Well known national insurance brokerage employing 1000 staff and £1Billion GWP with HQ in The City, currently seeking to recruit an experienced, knowledgeable and personable compliance professional due to the expansion of their existing Risk and Compliance team. To ensure that in relation to Regulatory Compliance and Risk Management all parts of the group are working to Risk and Compliance Policies and Framework, in particular the Risk Appetite Statements, incorporating conduct risk: The business is committed to conducting its business in a fair, honest and open manner. We seek to promote appropriate behaviour across all aspects of our business operations whilst ensuring fair and consistent outcomes for our customers. Our policies and procedures are designed to avoid engaging in any behaviour that could cause problems to consumers, market integrity or be anti-competitive Implement the Risk Management Policy and Framework within allocated business area, specifically: Facilitating the development and updating of risk registers (including controls and related actions) Quarterly review of top 5/key specific risks with local executive teams Management of control declarations as required. Recording, reporting and escalation of actual or near miss events Ensure the businesses Conduct Risk Framework is implemented and embedded within allocated business areas, specifically: Apportionment & Oversight matrices Compliance Monitoring Conduct reporting Maintaining Compliance Registers (complaints, breaches, outsourcing, gifts, conflicts, financial promotions, appointed representatives) Ensure that the Group Policies and Procedures are implemented and embedded within allocated business areas. Ensure any allocated business areas specific policies and procedures required above or beyond Group Policies are implemented and embedded. Complete Board and Executive reporting on Risk and Compliance matters using the correct format, ensuring the key issues are raised. Ensure that an appropriate process is in place for approval of any new producers (producing broker/agency/AR), specifically: That all producers are subject to appropriate and ongoing due diligence, using REG as required. That TOBAs are in place with all producers and that these are up to date and appropriately worded. Maintain producer TOBA register and separate AR register Escalate to any changes in due diligence information as appropriate Ensure that an appropriate process is in place for approval of any new insurer relationships, specifically: That the requirements of the Approved Security Policy are complied with and any use of below minimum rated security is referred to the Security Committee That insurer TOBAs are reviewed and confirm appropriate risk transfer, cascade of risk transfer and client money clause are included. Ensure that where appropriate Group TOBAs are used. Maintain Insurer TOBA register Act as first point of contact for all risk and regulatory compliance issues within allocated business areas. Ensure that an appropriate Complaints Management process is in place, all complaints are handled in a timely and consistent manner, recorded appropriately and trends analysed to look training needs and areas for improvement. Ensure that an appropriate Breach Management process is in place, all breaches are escalated and recorded appropriately in the required format and trends analysed to identify training needs and areas for improvement. Ensure that an appropriate file review/quality assurance process is in place to demonstrate compliance with key regulatory and service standards including Treating Customers Fairly, ICOBS, IDD. Ensure the required number of file audits are completed, and that the results are collated and feedback provided. Assist the Internal Audit function with any reviews in allocated retail firms, ensuring that agreed actions are tracked to completion and escalate any actions that will not be completed within the target date. Advise and ensure staff are provided with guidance on the application of relevant laws, regulations and standards including keeping up to date with relevant regulatory requirements and advising on changes required to ensure continued compliance. Complete regulatory application(s) in relation to permissions, persons and controllers where required. Complete the non-financial sections of RMARs for the allocated retail firms. Ensure that staff are provide with sufficient and appropriate training on risk and regulatory compliance issues and ensure the timely completion of any mandated e-learning modules. Attendance at quarterly Group Compliance Calls and Compliance Forums. Share best practice with Risk and Compliance Managers in other business areas, with a particular focus on supporting businesses in the region allocated. Assist the Heads of Risk and Compliance with any adhoc tasks across the group, as required. As and when required undertake projects and/or provide specialist input into wider business initiatives