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For Companies At a Glance
- Tasks: Lead compliance efforts across various jurisdictions, ensuring adherence to regulations and internal policies.
- Company: Join a dynamic firm focused on risk management and compliance in the insurance industry.
- Benefits: Enjoy competitive pay, professional development opportunities, and a collaborative work environment.
- Why this job: Make a real impact by shaping compliance strategies and enhancing business integrity.
- Qualifications: Degree or relevant qualifications with experience in insurance and knowledge of FCA regulations.
- Other info: Ideal for proactive individuals who thrive in fast-paced environments and enjoy problem-solving.
The predicted salary is between 43200 - 72000 £ per year.
Job Description
Job purpose/key requirements :
Risk & Compliance Manager who takes ownership of the compliance function across all jurisdictions (incl. Financial Crime, Risk and Data Protection).
Key responsibilities and accountabilities:
Compliance
- Regularly review developments in regulatory requirements applicable to the firm and maintain an understanding of potential future legislative changes.
- Review compliance policies and procedures and ensure that they are (and continue to be) appropriate to the size and complexity of the business, meet all regulatory requirements and TAG’s standards.
- Review compliance systems, policies and procedures and identify areas that require follow-up or investigation.
- Provide new joiner inductions and internal training on compliance related topics, policies and procedures.
- Review existing and arrange new terms of business agreements with insurers and introducers.
- Provision of management information to the partners (incl. compliance activity, legislative developments and risk management).
- Preparation and submission of periodic reports and required notifications to the appropriate regulators and/or regulatory Principal (as appropriate).
- Establish protocols and procedures that are required to ensure local compliance in the various jurisdictions.
- Assist in reviewing the regulatory framework if one of our clients is based in an unfamiliar jurisdiction and establish a compliant procedure for the placement of a policy in that jurisdiction.
Financial Crime
- Review the financial crime policies and procedures and ensure that they are (and continue to be) appropriate to the size and complexity of the business and which meet regulatory and TAG requirements.
- Design and implement an internal reporting process for receiving internal Suspicious Activity Reports (SARs) and monitoring the processes submitting an external SAR to the Crime Agency (NCA) where appropriate.
- Ensure that financial crime requirements are considered as part of the development of new products, or service changes.
- Ensure that the partners are kept informed of the money laundering risks posed by the business and its activities, and how these are managed and mitigated.
- Review and continue to implement a KYC procedure.
- Ensure that relevant staff are provided with financial crime training appropriate for their position (frequency and content) and that all new staff receive training within the specified period. Ensure that training materials remain up-to-date and relevant to the business.
- Ensure there is effective oversight and control on all outsourced functions.
Risk
- Review and monitor risk and operational risk management strategies and policies.
- Development and operation of appropriate governance arrangements.
- Ensure the operation of an effective approach to risk monitoring and mitigation, including the maintenance of a risk register.
- Ensure that appropriate risk information is reported to the partners and that required mitigating actions are implemented.
Data Protection
- Primary responsibility for advising and informing and challenging the business in respect of its obligations under data protection legislation. You will also be contributing to the maturity of privacy within the business by ensuring the business understands its obligations, risks and associated accountabilities.
Skills:
- Strong communicator
- Able to build excellent working relationships within the organisation
- Ability to work in teams and alone
- Production of management information to support committee and Board reporting
Desirable Knowledge:
- Good knowledge of FCA regulation is essential with knowledge of other regulatory jurisdictions being desirable.
- Knowledge of data protection with specific reference to GDPR requirements is advantageous.
- Knowledge of financial crime regulation and the typical controls employed in mitigating these risks.
Experience:
- Good experience working within the general insurance industry and/or Lloyd\’s & London Market.
- Degree educated and/or other relevant professional qualifications.
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Interim Compliance Manager employer: ZipRecruiter
Contact Detail:
ZipRecruiter Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Interim Compliance Manager
✨Tip Number 1
Familiarize yourself with the latest FCA regulations and any other relevant regulatory frameworks. This knowledge will not only help you in interviews but also demonstrate your commitment to staying updated in the compliance field.
✨Tip Number 2
Network with professionals in the insurance industry, especially those who have experience in compliance roles. Attend industry events or join online forums to connect with potential colleagues and learn about their experiences.
✨Tip Number 3
Prepare to discuss specific examples of how you've handled compliance issues in the past. Think about challenges you've faced and how you successfully navigated them, as this will showcase your problem-solving skills.
✨Tip Number 4
Stay informed about current trends in financial crime and data protection. Being able to speak knowledgeably about these topics during your interview will set you apart from other candidates.
We think you need these skills to ace Interim Compliance Manager
Some tips for your application 🫡
Understand the Role: Make sure to thoroughly read the job description for the Interim Compliance Manager position. Understand the key responsibilities and required skills, especially in compliance, financial crime, risk management, and data protection.
Tailor Your CV: Customize your CV to highlight relevant experience in compliance and risk management. Emphasize your knowledge of FCA regulations, data protection laws, and any experience in the insurance industry or similar fields.
Craft a Strong Cover Letter: Write a compelling cover letter that showcases your communication skills and ability to build relationships. Mention specific examples of how you've successfully managed compliance functions or improved processes in previous roles.
Highlight Relevant Qualifications: Include any relevant professional qualifications or degrees that pertain to compliance, risk management, or financial crime. This will strengthen your application and demonstrate your commitment to the field.
How to prepare for a job interview at ZipRecruiter
✨Understand Regulatory Requirements
Make sure you are well-versed in the latest regulatory requirements relevant to the compliance function. Familiarize yourself with FCA regulations and any other applicable jurisdictions, as this knowledge will be crucial during your interview.
✨Demonstrate Strong Communication Skills
As a Compliance Manager, effective communication is key. Prepare examples of how you've successfully communicated complex compliance issues to various stakeholders, showcasing your ability to build strong working relationships.
✨Showcase Your Experience with Financial Crime Policies
Be ready to discuss your experience with financial crime policies and procedures. Highlight specific instances where you've designed or implemented processes for monitoring suspicious activities, as this will demonstrate your hands-on expertise.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving skills in compliance situations. Think through potential challenges you might face in the role and how you would address them, particularly in unfamiliar jurisdictions.
