About The Role
RAC have an exciting opportunity for a First line Governance Manager who will work within our Consumer team as first line defence. We are looking for someone who has a strong knowledge and experience in General Insurance Industry and of Consumer Duty.
Practical experience in leading governance forums, producing documented packs, recording minutes and tracking actions will be important. The role involves supporting the business with change and risk management so excellent stakeholder management across varying levels of the leadership and exec teams are important.
This is a hybrid role, working 2 days a week from our Bradley Stoke office and 3 days a week at home.
What you will do…
* Provides guidance and advice to business stakeholders on regulatory aspects.
* Oversight of all CR compliance documentation around changes and any risks and ensures the timely completion of regulatory actions coming out of audits, second line monitoring and committees, relevant to the Business Unit and where applicable, wider RAC.
* Conduit for effective communications between second line compliance and business unit.
* Responsible for the documentation of the first line insurance governance framework, ensuring all products, propositions and pricing decisions meet (and can be evidenced as such) FCA regulatory requirements & deliver good outcomes for customers.
* Own and manage the documentation for the Consumer divisions regulatory forums. Pulling the required decks, support the business in change activity, documenting outcomes and providing the audit trail.
* Provides insight to influence change, continuous improvement and unfailing robust compliance.
* Implements and maintains a plan and oversight of the customer understanding testing roadmap aside from the ad hoc ongoing testing.
* Conduct audits and checks to ensure effective controls are in place for oversight of the end-to-end online customer journeys for all products to ensure our journeys meet regulatory requirements.
What you will need…
* Strong knowledge of general insurance regulatory principles and practices, including, but not limited to, Fair Value, Pricing Practices and Consumer Duty.
* Strong understanding of personal lines insurance products, operating models and trading dynamics.
* Strong awareness of key competitor product and proposition developments, market trends and upcoming regulatory priorities that may impact RAC’s propositions.
* Relevant experience gained from working within financial services, ideally with a personal lines broker and/or insurer.
* Cross-functional working within a large organisation.
* Strong Stakeholder management skills.
* Team player with a can-do attitude.
In return, we offer…
At RAC, our colleagues do whatever it takes to help our customers. And we believe in rewarding you in return. As well as a competitive salary, you’ll have all these extra benefits:
* FREE RAC Ultimate Complete Breakdown Service from Day One.
* 25 days annual leave entitlement plus bank holidays.
* Option to join RAC’s Group Personal Pension scheme where we will match/contribute up to 6.5% on qualifying earnings.
* 2 x Basic Salary Core Employer funded Life Assurance cover (4 x for pension scheme members) with the option to flex up to 10 x cover through our flexible benefits offering.
* Family leave support including paid time off, flexibility and resources to help balance work and family commitments.
* Confidential personal support service, available 24 hours a day every day of the year for you and any family members ages 16+ in your household.
* Car salary sacrifice scheme – after 12 months of employment, where you’ll enjoy significant tax savings, including electric vehicle options.
When you join us you will automatically be opted into our Colleague Share Scheme, called ‘Owning it together’. This is a unique opportunity for our colleagues to get rewarded for the outstanding work they deliver, to share in the future success of the RAC and is no ordinary work benefit, incentive, or bonus!
We’re committed to developing a culture that is representative of the diverse communities we serve and one which is open, accessible, collaborative, and inclusive. We welcome applicants of all backgrounds and experiences.
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