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- Tasks: Lead compliance oversight and assurance activities, ensuring adherence to regulations.
- Company: Join a major insurer thriving in the dynamic Lloyd's Market.
- Benefits: Enjoy competitive pay, professional development opportunities, and a collaborative work environment.
- Why this job: Make a real impact on compliance while working with industry leaders in a supportive culture.
- Qualifications: Experience in London-market insurance and people management is essential.
- Other info: Be the go-to person for compliance risks and controls across various assurance functions.
The predicted salary is between 43200 - 72000 £ per year.
A major insurer that operates in the Lloyd's Market is currently seeking a Compliance Oversight and Assurance Manager. In this role, you will enable provision of assurance over compliance, to boards, external stakeholders and others.
On a day-to-day basis, you will:
- Deliver Compliance Oversight and Assurance activity
- Develop the annual Compliance Oversight & Assurance Monitoring Plan covering key compliance risks
- Deliver the annual Compliance Oversight and Assurance Monitoring Plan and manage resources to deliver as part of the annual and longer term Compliance Plan
- Report key findings from business transaction data on compliance controls and breaches to the Head of Compliance
- Bring an innovative approach to the collection, design and preparation of reports/MI on the performance and findings of Compliance Oversight & Assurance for committees and boards, external stakeholders and others
- Be responsible for monthly reports to the Head of Compliance and quarterly reports to the Executive Committee
- Manage special investigations/ad hoc oversight activity as required by the Head of Compliance
- Identify, report, record, analyse and escalate incidents and breaches including commentary on root cause
- Track outcomes from thematic and ad-hoc reviews to conclusion
- Manage the Compliance O&A Framework and ensure process documents are reviewed annually
- Maintain an awareness of relevant changes to the regulatory environment both UK and abroad, ensuring that the Oversight & Assurance framework reflects best practice
- Highlight training needs to the Head of Compliance and ensure targeted training is put in place where necessary
- Act as the primary point of contact for other assurance functions (Risk, Internal Audit and Internal Controls) regarding Compliance risks and controls
It is essential for this role that you have experience working for a London-market insurance business and a background in people management and development.
Contact Detail:
HFG Insurance Recruitment Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Compliance Oversight & Assurance Manager
✨Tip Number 1
Network with professionals in the insurance and compliance sectors, especially those who have experience in the Lloyd's Market. Attend industry events or webinars to connect with potential colleagues and learn more about the specific challenges they face.
✨Tip Number 2
Stay updated on the latest regulatory changes affecting the insurance industry, particularly in the UK. This knowledge will not only help you in interviews but also demonstrate your commitment to compliance and assurance best practices.
✨Tip Number 3
Prepare to discuss your experience in managing compliance oversight and assurance activities. Be ready to share specific examples of how you've developed monitoring plans or reported findings to senior management, as this will showcase your relevant skills.
✨Tip Number 4
Familiarise yourself with the Compliance O&A Framework and best practices in compliance reporting. Understanding these frameworks will allow you to speak confidently about how you can contribute to the role and improve existing processes.
We think you need these skills to ace Compliance Oversight & Assurance Manager
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in compliance oversight and assurance, particularly within the London-market insurance sector. Use specific examples that demonstrate your ability to manage compliance risks and deliver assurance activities.
Craft a Compelling Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Discuss how your background in people management and development aligns with the responsibilities of the Compliance Oversight & Assurance Manager position. Be sure to mention any innovative approaches you've taken in previous roles.
Highlight Relevant Skills: Emphasise skills that are crucial for this role, such as analytical abilities, report preparation, and communication skills. Provide examples of how you've successfully reported findings to stakeholders and managed compliance frameworks in past positions.
Showcase Regulatory Knowledge: Demonstrate your awareness of the regulatory environment both in the UK and abroad. Mention any specific regulations or compliance frameworks you are familiar with, and how you have adapted compliance strategies in response to regulatory changes in your previous roles.
How to prepare for a job interview at HFG Insurance Recruitment
✨Know Your Compliance Framework
Familiarise yourself with the latest compliance regulations and frameworks relevant to the insurance industry, especially those pertaining to the Lloyd's Market. Being able to discuss these in detail will demonstrate your expertise and commitment to the role.
✨Showcase Your Analytical Skills
Prepare examples of how you've previously identified, reported, and escalated compliance breaches or incidents. Highlight your analytical approach to problem-solving and how you track outcomes from reviews to ensure compliance.
✨Demonstrate Leadership Experience
Since this role involves people management, be ready to discuss your experience in leading teams. Share specific instances where you've developed team members or managed resources effectively to deliver compliance objectives.
✨Prepare for Scenario-Based Questions
Expect questions that assess your ability to handle real-life compliance scenarios. Think about how you would approach special investigations or ad-hoc oversight activities, and be prepared to articulate your thought process clearly.
