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- Tasks: Support the UK Head of Compliance with regulatory matters and manage compliance functions.
- Company: Join a leading firm focused on governance and regulatory compliance in the insurance sector.
- Benefits: Enjoy competitive pay, professional development opportunities, and a supportive work environment.
- Why this job: Make a real impact by ensuring compliance and promoting ethical practices in a dynamic industry.
- Qualifications: 5+ years in UK Compliance, preferably in general insurance; relevant qualifications are a plus.
- Other info: Ideal for those passionate about compliance and looking to grow in a reputable company.
The predicted salary is between 43200 - 72000 £ per year.
In this role, the Compliance Officer will provide the UK Head of Compliance with support across a range of regulatory matters.
About the Role
The Compliance Officer will be responsible for managing and maintaining various compliance functions within the company.
Responsibilities
- Manage and maintain the Company’s Governance, Regulatory and Compliance Timetable.
- Manage and maintain the SMCR requirements for the Company.
- Horizon Scanning: manage the end-to-end process.
- Prepare and submit Regulatory Returns and Attestations, as allocated to the Compliance function (including the PRA and the FCA) work closely with all relevant teams to collate and verify data/information submitted (coordinating activity at firm level as required).
- Monitor the training given to all staff to ensure it covers awareness of relevant laws, rules and standards and the need to comply with these.
- Implement action points arising from internal audit reviews relating to the compliance function in line with agreed timelines.
- Develop, maintain and improve the methodology for carrying out the above functions.
- Maintain a central compliance repository.
- Assist with Compliance project management as needed.
- Assist the UK Head of Compliance in the provision of the Compliance function.
- Undertake any other reasonable duties as may be required from time to time.
- Maintain compliance with any applicable UK or International statutory or regulatory obligation as required by the role.
This includes but is not limited to obligations arising from:
- The prudent management of the business.
- Placing due regard on the interests of customers.
- Observing rules on Sanctions and financial crime.
- Regulatory requirements and local licensing restrictions.
- Promoting and following the Group’s whistleblowing procedures.
- Where applicable, following the Company’s Consumer Duty principles to deliver good outcomes for retail customers.
Qualifications
- 5+ years’ experience in a UK Compliance role (general insurance).
- Finance/Insurance / Compliance qualification desirable.
Required Skills
- PRA, FCA and EU regulatory framework.
- Horizon Scanning.
- Preparation of Regulatory Returns.
- Document and report writing and preparation of management information.
- Planning skills (Compliance Plan and methodology).
- Ability to provide advice and guidance to management and other stakeholders.
- Ability to work to deadlines.
Preferred Skills
- Experience in a similar role within the insurance sector.
- Strong analytical skills.
Contact Detail:
Next Employment Ltd Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Compliance Officer
✨Tip Number 1
Make sure to network with professionals in the insurance compliance field. Attend industry events, webinars, or local meetups to connect with others who may have insights or job leads that could help you land this role.
✨Tip Number 2
Familiarise yourself with the latest PRA and FCA regulations. Being well-versed in current compliance requirements will not only boost your confidence but also demonstrate your commitment to staying updated in the field.
✨Tip Number 3
Consider reaching out to current or former Compliance Officers in similar roles. They can provide valuable insights into the day-to-day responsibilities and challenges of the position, which can help you prepare for interviews.
✨Tip Number 4
Showcase your analytical skills by preparing examples of how you've successfully managed compliance issues in the past. Be ready to discuss specific scenarios during interviews to highlight your problem-solving abilities.
We think you need these skills to ace Compliance Officer
Some tips for your application 🫡
Highlight Relevant Experience: Make sure to emphasise your 5+ years of experience in a UK Compliance role, particularly within the insurance sector. Use specific examples that demonstrate your expertise in managing compliance functions and regulatory matters.
Tailor Your CV: Customise your CV to reflect the skills and qualifications mentioned in the job description. Focus on your knowledge of PRA, FCA, and EU regulatory frameworks, as well as your experience with horizon scanning and preparing regulatory returns.
Craft a Strong Cover Letter: Write a compelling cover letter that outlines your motivation for applying and how your background aligns with the responsibilities of the Compliance Officer role. Mention your ability to work to deadlines and provide guidance to management.
Proofread Your Application: Before submitting, carefully proofread your application materials for any spelling or grammatical errors. A polished application reflects your attention to detail, which is crucial for a Compliance Officer.
How to prepare for a job interview at Next Employment Ltd
✨Showcase Your Compliance Experience
Make sure to highlight your relevant insurance compliance experience during the interview. Be prepared to discuss specific examples of how you've managed compliance functions and navigated regulatory frameworks like PRA and FCA.
✨Demonstrate Analytical Skills
Since strong analytical skills are crucial for this role, be ready to provide examples of how you've used these skills in past positions. Discuss any instances where your analysis led to improved compliance processes or outcomes.
✨Understand Regulatory Requirements
Familiarise yourself with the latest regulatory requirements and changes within the insurance sector. Being able to discuss current trends and how they impact compliance will show your proactive approach and industry knowledge.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving abilities in compliance situations. Think about how you would handle specific compliance challenges and be ready to articulate your thought process clearly.
