Job Description
Job Number:
Conduct Risk Officer (Job Number: 78006419D20241003)
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You will support the Conduct Risk Manager based in London on BAU and Ad-hoc work.
You would be responsible for Consumer products (onboarding and annual product reviews) as well as various committee packs and highlighting any products where there is potential customer harm. You will be liaising with multiple stakeholders, such as underwriters to ensure they understand consumer products and the product risk associated with them.
You will have working knowledge and practices associated with the FCA handbook and the legislation around consumer products particularly, in relation to PRIN, ICOBS and PROD 4. Experience of working in the Lloyd’s Market and/or insurance is preferred.
The conduct risk team is a small team of 8 FTE; 4 in London and 4 in India. The team manages a high volume of BAU, so you will be assisting in ensuring AXA XL is in line with the latest regulation.
What will your essential responsibilities include?
1. Responsible for preparing committee agendas, MI packs, minutes and liaising with multiple stakeholders on tracking of agreed actions.
2. Monitor and track Team SLAs for reviewing policies, procedures, and audit actions.
3. Managing and responding to queries received in team mailboxes to ensure stakeholders are appraised, decisions are documented and an effective audit trail is maintained.
4. Conducting BAU and adhoc reviews and presenting findings to Committees and various stakeholders.
5. Communicate with Underwriters, Brokers and Coverholders on the collection of conduct due diligence and to raise awareness of conduct expectations for new and existing products.
6. Conducting oversight reviews and approval of new coverholder product distributions from a Conduct Risk Perspective ensuring FCA and Lloyd’s requirements are met.
7. Conducting analysis of product performance metrics to identify, investigate, remedy and report on potential or poor customer outcomes. This includes drafting detailed reports and presenting these to senior Committees including but not limited to the Customer Committee, Product Data Group, and Product Oversight Committee.
8. Investigating and resolving high profile complaints and conduct quality assurance of Complaints to support the Senior Complaints Officer. This will be 1 day of out 5 or 20% of the role holder's time with 80% spent on Conduct Risk.
9. Provide support and advice for product risk rating and how to meet regulatory requirements to Underwriters and other business areas.
10. Support the initiatives and projects being delivered by the Conduct Risk manager based in London.
11. Work closely with the Conduct Risk manager in establishing and maintaining a robust Conduct framework (including the oversight of corresponding policies and procedures) which allows AXA XL to comply with FCA, PRA and Lloyd’s requirements as well as regulators of overseas operations of the UK regulated entities.
12. Adhere to FCA and Lloyd’s conduct standards whilst striving for best practice.
13. Provide Conduct advice to facilitate the Company’s business strategy, help mitigate business threats and ensure conduct risk is suitably addressed in the design and distribution of our products.
14. Assist in validating the performance and conduct of commercial partners through a combination of monitoring of performance data, review of audit findings performed by third parties, as well as participating in audits as required.
15. Finally, and in addition to the above key accountabilities, you may be required to undertake other duties from time to time as the Company may reasonably require that will occur outside business hours.
You will report to the manager based in London.
We’re looking for someone who has these abilities and skills:
1. Established understanding of Conduct risk knowledge.
2. Self-motivated and highly ambitious.
3. FCA PRIN, ICOBS and PROD knowledge is a requirement for the role.
4. Strong presentation skills, and great team working experience.
5. Excellent communication skills; verbal and written.
6. Strong organizational skills and able to work on own initiative.
7. Excellent/intermediate in Excel and PowerPoint handling.
8. Passion for data and the ability to analyse trends within data.
9. A desire to keep pace with changes to legislation (FCA & Lloyd’s), regulations and market practice and responding to regulatory consultations.
10. Highly analytical and enjoy working with large quantities of data.
11. Knowledge of insurance operations, including claims/underwriting etc. is advantageous.
Location: GB-GB-London
Work Locations: GB London 20 Gracechurch Street London EC3V 0BG
Job Field: Legal, Compliance & Risk
Schedule: Full-time
Job Type: Standard
AXA XL is an Equal Opportunity Employer and does not discriminate against any colleague or applicant for employment on the basis of race, color, national origin, religion, sex, gender identity and/or expression, sexual orientation, age, disability, genetic information, veteran status, military status or any other category protected by local law.
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