An excellent opportunity has arisen to join Realty Insurances Limited, a highly successful, specialist, independent, insurance broking firm in the heart of the West End of London.
This ambitious company is in the envious and unique position of sharing common ownership with Grosvenor, one of the pre-eminent private international property companies based in the UK.
Realty, established in 1950, is authorised and regulated by the Financial Conduct Authority. The company specialises in providing advice and arranging insurance for commercial and residential property owners and developers, rural estates and farms, and private clients. The company places in excess of £40 million in insurance premium per annum into the insurance market and, having grown consistently in recent years, is now recruiting to deliver the next phase in its growth ambitions.
Purpose
To proactively support the company to deliver good client outcomes, manage its conduct, protect against regulatory risk, and to generate value to the business and clients by directing and delivering its compliance and governance agenda.
Lead the management and co-ordination of Realty's compliance and governance policies and procedures, identifying applicable regulatory requirements and designing, documenting and implementing relevant processes to enable standards to be met. Provide guidance and training. Monitor compliance with regulatory and legal obligations and implement controls within the compliance programme.
The successful candidate will be a trusted partner to the business, supporting Realty's sustainable business growth by providing pragmatic advice, oversight and effective challenge together with operationally delivering on the compliance and governance agenda. As a senior member of the team, operating as a leader and role model and participating in personnel training.
Key Responsibilities
1. Be responsible for all compliance, FCA regulatory requirements, legislative obligations, and risk and quality assurance matters ensuring we establish and maintain the highest possible compliance standards, policies, monitoring and control.
2. Prepare, maintain and present all necessary compliance, regulatory, legal, and risk and quality assurance updates to the Audit and Risk Committee, and in conjunction with the Consumer Duty Board Champion, ensure the Board receives for consideration all necessary reporting, supported through relevant management information and operational data, underlying the businesses assertions in meeting its obligations in respect of Consumer Duty and Fair Value rules.
3. Act as the subject matter expert and generally champion compliance, regulatory conduct, risk and quality assurance at all levels of the business.
4. Work with the management team to ensure that robust and effective compliance procedures are built into everyday business processes and practices.
5. Engage with the business to formulate and maintain best-practice procedures and policy documentation that are balanced to meet the needs of the business, clients and regulators.
6. Ensure that internal standards, processes and procedures are adhered to and that advice and operations remain FCA compliant, and evidencing review of practices in the business through conduct of file audits.
7. Test and assess whether policies, procedures, systems and controls fully address strategic requirements and identify any risks and issues for management's attention and recommend improvements. Provide structured review and feedback reports to support recommendations.
8. Review the design, structure and distribution of new and enhanced products to ensure that they meet regulatory requirements and internal control policies and standards. Document findings with evidential data driven support.
9. Undertake Horizon Scanning, identify developments in laws and regulations applicable to the business, assess relevance and ensure appropriate internal communication of requirements, and lead the company's response to emerging regulatory risks and developments in the regulatory landscape.
10. Prepare regular reports to assist management in understanding regulatory, legal and business risk matters, including monthly executive summaries for wider distribution in the business.
11. Accurately record any findings and corrective activity in line with regulatory requirements and Realty policies and procedures, and produce reports and maintain records of such analysis.
12. Working with the executive Risk Committee, maintain an up-to-date risk register and present the risk register as required to the Audit and Risk Committee.
13. Be responsible for completing and submitting the firm's bi-annual RMAR and other regulatory returns.
14. Maintain the firm's entry on the FCA register ensuring the timely and accurate notification of any changes in the firm's details or personnel, including Senior Management Functions and Directory Persons.
15. Be responsible for GDPR, renew the firm's ICO registration, be appointed as the firm's Data Protection Office and ensure the accuracy of the firm's data on the ICO website.
16. Lead and manage the process of negotiation of new and ongoing oversight of in place Insurer Terms of Business Agreements (TOBA's) and third party Delegated Authorities.
17. Lead the business' engagement in and manage the on-going compliance monitoring of the business in compliance audits, Treating Customers Fairly and delivering the right customer outcomes, Gifts, Entertainment and Hospitality, Financial Promotions and Third Parties, Product Governance and Fair Value, SLAs and client TOBAs, sanctions, AML and financial crime, fraud and complaints.
18. Provide pragmatic advice and counsel to all appropriate stakeholders and support the business in understanding responsibilities and obligations under Realty policies and procedures and regulatory requirements.
19. Respond to ad-hoc compliance and regulatory queries from business management and colleagues.
20. Foster close relationships with other functions including Legal, Finance and Communications.
21. Maintain ongoing personal competency through development and training.
22. Develop compliance training materials and deliver compliance training ensuring appropriate compliance and business input. Monitor team performance in training and CPD requirements. Contribute compliance and quality assurance related content to the annual personal development plans of the team.
23. Participate in ad-hoc, strategic or operational projects as requested.
Key Requirements
1. Strong experience working in a compliance role in an FCA regulated commercial insurance brokerage environment.
2. Good knowledge of the FCA regulatory environment and controls; able to analyse and interpret FCA regulations to assist in the implementation of suitable compliance controls.
3. Demonstrable experience of delivering value in a compliance and corporate governance function in a regulated business environment.
4. The ability to analyse information and draw relevant conclusions with a view to making informed decisions.
5. Ability to facilitate and deliver training.
6. Good computer literacy.
7. Excellent verbal and written communication skills.
8. Demonstrable supervisory skills.
9. The personal qualities of the candidate will be critical in deciding the most suitable individual to fill this post. They will be personable, confident and highly credible in front of colleagues and Audit and Risk Committee and Board members. They will be well organised, have a strong work ethic, good communication and interpersonal skills and be committed to providing quality service into the business.
10. Most importantly they will be proactive, will work under their own initiative, be organised and methodical, be prepared to 'roll up their sleeves', and have sufficient technical knowledge and experience to 'pick up and run' with the full variety of the role.
Desirable Requirements
1. Professional qualification in Risk, Compliance, Internal Audit (ICA, IRM, IIA etc.).
2. ACII qualified.
Please note this is a part time opportunity for 2 days per week.
We know flexibility is important and take a hybrid approach to working, please contact us for further details.
We want you to have every opportunity to show us your strengths. There are adjustments available for our process, please contact us on grosvenor.recruitment@grosvenor.com to discuss.
Grosvenor is proud to be a Disability Confident Committed employer. If you would like to speak with us for more detail, please contact grosvenor.recruitment@grosvenor.com.
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