Job Title: Head of Compliance – London Market Insurance
Location: London/Hybrid
Salary: up to £150,000
Overview of the Role:
As the Head of Compliance, you will be responsible for leading, developing, and maintaining the compliance function within the organisation. This is a senior leadership role that requires a proactive and dynamic professional capable of navigating the complex regulatory landscape of the Lloyd’s insurance market.
Key Responsibilities:
1. Regulatory Oversight/Interaction:
o Develop and oversee the compliance strategy to ensure adherence to Lloyd’s of London regulations, the Prudential Regulation Authority (PRA), Financial Conduct Authority (FCA) rules, and other applicable regulatory bodies.
o Monitor developments in insurance regulations, ensuring the business is aware of and complies with emerging regulatory requirements.
o Act as the primary point of contact for regulatory bodies and industry organisations, fostering strong working relationships with regulators.
2. Compliance Framework & Policy Development:
o Design, implement, and update a comprehensive compliance framework tailored to the specific needs of a growing Managing Agency.
o Draft and enforce compliance policies and procedures, ensuring they are aligned with the company’s strategic goals and regulatory requirements.
o Provide guidance and training to senior leadership and staff on key compliance issues, enhancing the overall compliance culture.
3. Governance & Ethical Standards:
o Promote and uphold a high standard of corporate governance and ethical conduct within the organisation.
o Advise on the implementation of appropriate governance structures and processes to support the long-term growth of the business.
o Ensure the company’s culture, business practices, and interactions with stakeholders align with the highest ethical standards.
4. Regulatory interactions & Stakeholder Engagement:
o Work closely with other departments, including Underwriting, Claims, Finance, Legal, and Operations, to ensure a unified approach to compliance.
o Support business development initiatives by providing compliance expertise and ensuring new business practices comply with regulatory requirements.
o Represent the company at industry forums and events, showcasing the company’s commitment to regulatory excellence.
Skills & Experience Required:
* Minimum of 8-10 years of experience in compliance within the insurance industry, with a strong understanding of the Lloyd’s of London regulatory framework.
* Proven track record in leading compliance functions, preferably within Insurance.
* Experience working with UK regulators, including the FCA and PRA
* In-depth knowledge of insurance regulation and compliance frameworks specific to Lloyd’s
* Strong leadership skills with experience managing and developing a compliance team.
* Excellent interpersonal and communication skills, with the ability to engage with stakeholders at all levels, including senior management and external regulators.
* The ability to influence decision-making at the Board level, providing strategic insights on compliance matters.
* Strong analytical skills, with the ability to interpret complex regulatory requirements and apply them effectively within a growing business context.
Personal Attributes:
* Strategic thinker with a hands-on approach.
* Strong commercial acumen with the ability to balance regulatory requirements and business growth.
* Highly organised, with a detail-oriented mindset and the ability to manage multiple projects simultaneously.
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