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For Companies At a Glance
- Tasks: Manage product governance and ensure compliance with regulations while analysing product portfolios.
- Company: Join Police and Forces Mutual, supporting the community for over 150 years with financial services.
- Benefits: Enjoy a competitive salary, generous pension, private healthcare, and 28 days holiday plus public holidays.
- Why this job: Make a positive impact on those who serve and protect while growing in a supportive team environment.
- Qualifications: Experience in financial services, knowledge of FCA requirements, and strong communication skills are essential.
- Other info: This hybrid role offers flexibility with occasional travel to Liverpool.
The predicted salary is between 32000 - 48000 £ per year.
Hybrid – Liverpool or remote with occasional travel
Up to £40,000 per annum plus benefits
At Police and Forces Mutual, we’ve proudly supported the Police and Forces community for over 150 years, offering financial services and insurance exclusively to Police Officers, Armed Forces, Staff, and their families. Our mission is simple: improve financial wellbeing and make a positive impact on the lives of those who serve and protect.
Role overview
We are seeking a proactive and methodical Product Governance Specialist who will oversee and assist with the management of new and existing products and the Product Oversight and Governance (POG) requirements for the suite of products across Police and Forces Mutual. The Product Governance Manager will ensure that all products, new and existing, are meeting regulatory requirements and providing value to customers, distributors and insurer capacity providers, working closely with all entities across the business.
Key Accountabilities
- Conduct comprehensive analysis of our product portfolio to ensure adherence to the highest levels of consumer protection.
- Work with all stakeholders to ensure the business is compliant in respect of New Product development and Existing Product changes.
- Assist with identification and implementation of Product Governance controls, and ensure our processes and best practice are appropriately documented.
- Be integral to the Product Review process, ensuring Product Assessments are completed annually or as required, and all products go through regular risk reviews.
- Collaborate with all stakeholders to ensure compliance with regulatory requirements.
- Develop and implement product governance policies and procedures to ensure adherence to Consumer Duty regulations.
- Monitor industry trends and regulatory changes related to customer duty of care and provide recommendations for necessary adjustments to our product offerings.
- Conduct regular audits and reviews to assess the effectiveness of our product governance framework.
- Collaborate with stakeholders to ensure that customer feedback and complaints are appropriately addressed and incorporated into product governance processes.
- Preparation of materials and delivery of presentations to all stakeholders.
- Stay up-to-date with industry best practices and emerging trends in Consumer Duty and other relevant regulatory obligations to continuously improve our product governance framework.
Skills And Experience
- Experience of working in a Financial Services organisation.
- Good knowledge of FCA requirements in relation to Consumer Duty, Product Governance and Vulnerability and experience of using and navigating the FCA handbook.
- Awareness of regulatory expectations in general and understanding of insurance, principles, products and services.
- Experience in Product Governance, Internal or External Audit or Risk Management.
- Understanding of the product lifecycle (inception to retirement), associated documentation, processes and activities.
- Commercial acumen and an understanding of product commercials.
- Competent in using computers for business purposes, including applications such as Excel and PowerPoint.
- Strong written and oral communication skills and project management skills.
- Good planning, organisation, analytical, problem solving, delivery and time management skills.
- Relates to others in a confident and relaxed manner; able to influence, challenge and engage in healthy debate.
- Takes personal responsibility for creating good customer and member outcomes and for achieving business success.
What’s in it for you?
- Competitive salary in the region of £40,000 plus annual discretionary bonus.
- Generous pension contribution (up to 14% matched).
- Private healthcare and access to “My Staff Shop.”
- 28 days holiday + 8 public holidays.
- Professional growth opportunities and a supportive, purpose-driven team environment.
Sounds like you? If you’re ready to make a meaningful impact while advancing your career, apply today and help us continue making a difference for the Police and Forces family.
Product Governance Specialist employer: Police Mutual
Contact Detail:
Police Mutual Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Product Governance Specialist
✨Tip Number 1
Familiarise yourself with the FCA handbook and the specific regulations related to Consumer Duty and Product Governance. This knowledge will not only help you in interviews but also demonstrate your commitment to understanding the compliance landscape that is crucial for this role.
✨Tip Number 2
Network with professionals in the financial services sector, especially those who have experience in product governance or regulatory compliance. Engaging in conversations can provide insights into the role and may even lead to referrals or recommendations.
✨Tip Number 3
Stay updated on industry trends and changes in regulations by following relevant publications and joining professional groups. Being knowledgeable about current events in the financial services industry will allow you to speak confidently about how these trends could impact the role.
✨Tip Number 4
Prepare to discuss specific examples from your past experience that showcase your analytical skills and ability to manage product governance processes. Highlighting your problem-solving abilities and how you've contributed to compliance in previous roles will set you apart during the interview.
We think you need these skills to ace Product Governance Specialist
Some tips for your application 🫡
Understand the Role: Thoroughly read the job description for the Product Governance Specialist position. Make sure you understand the key accountabilities and required skills, as this will help you tailor your application.
Highlight Relevant Experience: In your CV and cover letter, emphasise your experience in financial services, particularly any roles related to product governance, compliance, or risk management. Use specific examples to demonstrate your knowledge of FCA requirements and consumer duty.
Showcase Your Skills: Make sure to highlight your strong written and oral communication skills, as well as your analytical and problem-solving abilities. Provide examples of how you've successfully managed projects or collaborated with stakeholders in previous roles.
Craft a Compelling Cover Letter: Write a personalised cover letter that explains why you are passionate about the role and how your values align with the mission of Police and Forces Mutual. Mention your commitment to improving financial wellbeing for the community they serve.
How to prepare for a job interview at Police Mutual
✨Understand the Regulatory Landscape
Familiarise yourself with FCA requirements related to Consumer Duty and Product Governance. Be prepared to discuss how these regulations impact product management and governance, as this will demonstrate your knowledge and commitment to compliance.
✨Showcase Your Analytical Skills
Be ready to provide examples of how you've conducted comprehensive analyses in previous roles. Highlight your experience in assessing product portfolios and ensuring adherence to consumer protection standards, as this is a key responsibility of the role.
✨Prepare for Stakeholder Collaboration
Think about past experiences where you successfully collaborated with various stakeholders. Be prepared to discuss how you would engage with different teams to ensure compliance and address customer feedback effectively.
✨Demonstrate Strong Communication Skills
Since the role involves preparing materials and delivering presentations, practice articulating your thoughts clearly. Be ready to showcase your written and oral communication skills, as well as your ability to influence and engage others in discussions.
