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- Tasks: Join our Compliance Team to ensure regulatory standards are met and customer outcomes are prioritised.
- Company: Scottish Friendly is a dynamic company focused on growth through innovation and collaboration.
- Benefits: Enjoy a supportive team environment, opportunities for professional development, and a chance to make an impact.
- Why this job: Be part of a small team with a big impact, driving positive change in financial services.
- Qualifications: A degree or relevant qualifications in financial services and compliance; experience in life insurance compliance preferred.
- Other info: Embrace a culture of collaboration, customer care, and continuous improvement.
The predicted salary is between 36000 - 60000 £ per year.
Scottish Friendly (SF) is a growing business and is proud of the significant growth delivered over the last five years through our strategy of organic growth, mergers and acquisitions and business process outsourcing. SF operates a ‘three lines of defence’ model. This role sits within our Policy and Guidance Compliance Team within the Risk & Compliance second line of defence function. The Risk & Compliance function is key in helping the Scottish Friendly Executive Management Team and Board to understand how regulatory and conduct risks are being managed across the entire business and good customer outcomes are being delivered.
Key responsibilities
- Identify, interpret and communicate new regulatory and legislative changes potentially impacting Scottish Friendly.
- Collaborate, advise and support internal stakeholders in relation to the impact and implementation of changes to comply with new regulatory requirements.
- Prepare updates providing a 2nd line view to the Executive Management team on the regulatory risk of the implementation of regulatory change.
- Maintain and develop relationships with key stakeholders with a view to assisting them meet regulatory standards whilst retaining the independent status required of a second line of defence function.
- Assist the Compliance Manager in providing support and guidance of key business developments.
- Provide guidance to wider stakeholders on compliance matters taking into account good customer outcomes.
- Remain up to date on financial regulations and support activities to comply with these regulations.
Qualifications and skills
- Knowledge of Life, Pensions, Savings, and Pure Protection products.
- Degree or professionally qualified, or hold additional qualifications related to financial services and compliance/risk (e.g. CISI compliance diploma).
- Experience of having worked within the Compliance function of a life insurance company.
- Experience of delivering high-quality outputs to a high level of consistency within a demanding environment with minimum supervision.
- Strong technical and organisational skills with the ability to multi-task to meet deadlines.
- Confidence to question/confront issues - ability to probe, challenge and influence others to achieve agreement.
- Willingness to take ownership and accountability for delivery.
- Report writing - the ability to produce timely and accurate reports delivering key issues and messages.
- Excellent communication skills with proven ability to challenge and investigate business issues.
- A friendly, helpful, and positive manner with an optimistic, open, and flexible approach.
Scottish Friendly Values
- WE’RE IN THIS TOGETHER - We collaborate and value each other’s opinion. We’re a small team with a big impact. We support each other to thrive and grow.
- WE CARE ABOUT OUR CUSTOMERS - Our customers are at the heart of everything we do. We’re committed to doing the right things for our customers. We listen to and learn from our customers.
- WE KEEP MOVING FORWARD - We always see change as an opportunity. Our progress is based on careful management of our risks. We have the courage to test new ideas and learn from them.
Compliance Consultant employer: Scottish Friendly
Contact Detail:
Scottish Friendly Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Compliance Consultant
✨Tip Number 1
Familiarise yourself with the latest regulatory changes in the financial services sector. Being able to discuss recent developments and their implications during your interview will demonstrate your proactive approach and understanding of the compliance landscape.
✨Tip Number 2
Network with professionals in the compliance field, especially those who have experience in life insurance. Engaging in conversations about best practices and challenges can provide you with valuable insights that you can bring up in discussions with our team.
✨Tip Number 3
Prepare to showcase your problem-solving skills by thinking of examples where you've successfully navigated compliance challenges. Highlighting your ability to influence and collaborate with stakeholders will resonate well with our values of teamwork and customer care.
✨Tip Number 4
Demonstrate your commitment to continuous learning by mentioning any relevant courses or certifications you are pursuing. This shows that you are dedicated to staying updated in the compliance field, which aligns with our value of moving forward.
We think you need these skills to ace Compliance Consultant
Some tips for your application 🫡
Understand the Role: Before applying, make sure you fully understand the responsibilities of a Compliance Consultant at Scottish Friendly. Familiarise yourself with their three lines of defence model and how it applies to the role.
Tailor Your CV: Highlight your relevant experience in compliance, particularly within the life insurance sector. Emphasise your qualifications related to financial services and any specific skills that align with the job description, such as report writing and stakeholder management.
Craft a Compelling Cover Letter: In your cover letter, demonstrate your understanding of Scottish Friendly's values. Share examples of how you've collaborated with teams, cared for customers, and embraced change in your previous roles.
Showcase Your Communication Skills: Since excellent communication is key for this role, ensure your application is clear and concise. Use professional language and structure your documents well to reflect your ability to produce high-quality outputs.
How to prepare for a job interview at Scottish Friendly
✨Understand Regulatory Changes
Make sure you have a solid grasp of recent regulatory and legislative changes that could impact the company. Be prepared to discuss how these changes might affect compliance and customer outcomes.
✨Showcase Your Collaboration Skills
Since the role involves working closely with internal stakeholders, highlight your experience in collaborating with different teams. Share examples of how you've successfully advised or supported others in implementing compliance measures.
✨Demonstrate Strong Communication Abilities
Prepare to showcase your communication skills, especially in report writing and presenting complex information clearly. Think of instances where you've had to challenge or influence others and be ready to discuss them.
✨Emphasise Your Customer-Centric Approach
Scottish Friendly values a customer-first mentality. Be ready to explain how you prioritise customer outcomes in your compliance work and how you ensure that regulatory standards align with delivering value to customers.
