Senior Associate, Monitoring & Assurance

Lloyd’s is the world’s leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds, working together for a braver world. Our role is to inspire courage, so tomorrow’s progress isn’t limited by today’s risks. Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s – build a braver future with us.

Lloyd’s is seeking to recruit a Senior Associate, Monitoring & Assurance. You will support the Monitoring and Assurance team in delivering and leading high quality and challenging compliance and financial crime monitoring reviews. This activity is part of the rigorous Monitoring Plan which delivers significant assurance and challenge to senior business leaders in the Corporation through insightful analysis and recommendations, combined with accountability and challenge shown to business stakeholders at all levels, often in difficult and sensitive areas.

The Financial Crime and Compliance Monitoring and Assurance (“FC&C M&A”) function provides assessment of the design and operating effectiveness of controls within the Corporation of Lloyd’s (“Corporation”), the Global Network, and the Lloyd’s Market (“Market”) to tackle Financial Crime and Compliance risks. The function also provides support, advice and guidance to both the Corporation and Lloyd’s international branches on a range of issues. It also provides a level of support for Market facing activities. Each of the sub-teams within FC&C undertakes elements of an advisory and ambassador role with both internal and key external stakeholders – including trade bodies, the Market and the Corporation’s regulators.

Principal Accountabilities

• Input to the maintenance of a high-quality financial crime and compliance monitoring plan and associated action programme which assesses performance against risks arising from the range of Corporation policy and compliance obligations.
• Management of action plans which ensures that the Corporation, Global Network, and Market acts on the issues identified in review and risks are appropriately mitigated.
• Development of professional standards in compliance and financial crime monitoring for Lloyd’s.
• Engagement with key stakeholders to gain a fuller understanding of business aims, processes and procedures and related risks surrounding review areas, demonstrating business and management understanding.
• Determining the approaches and methodology to be used to assess review areas, ensuring integrity of inputs and outputs.
• Undertaking and supporting review testing activities to establish: levels of adherence to processes and procedures; the clarity of records, publications and reports; and staff members’ understanding.
• Analysing and summarising findings from testing activities to understand the causes of issues seen and to identify requirements to address shortfalls.
• Drafting reports to summarise the activities undertaken, set out review findings and recommended actions to be completed.
• Agreeing actions with key stakeholders and tracking those actions through to completion.
• Reporting the progress of review activity and the completion of actions.
• Ongoing oversight of assigned Managing Agents relating to Principles Based Oversight – Principle 11 – Financial crime and completion of the annual FC attestation.
• Attend the ongoing Lloyd’s team meetings held by the Account Managers and keep them informed of any Financial Crime incidents or events relating to the Managing Agents they are responsible for.
• Completing reviews relating to Financial Crime assessments for new market syndicates (Make it Happen).
• The wider Financial Crime and Compliance team operates a fungible resource model when required and as such you may be expected to work flexibly and collegiately across the three sub-teams to help deliver outcomes at the direction of the Head of Financial Crime and Compliance.

Skills Knowledge and Experience

• Experience of working within a regulated environment.
• Experience of managing aspects of complex projects and workstreams, and leading or managing simpler projects and workstreams.
• Experience of dealing with conflicts and disputes in a facilitative and open manner and the ability to develop creative and innovative solutions to unique and complex problems.
• Good knowledge of the UK regulatory framework.
• Technical understanding of key conduct regulations and the ability to quickly develop a good understanding of new regulatory requirements.
• Knowledge and experience in the design, implementation and management of effective risk management frameworks and operating risk control processes.
• Knowledge of insurance regulation and insurance business an advantage but not mandatory.
• The ability to work individually with little supervision or as part of a professional team.
• Information analysis and problem-solving skills, with the ability to apply a logical approach.
• Stakeholder management and ability to work autonomously in and with the business.
• A good “risk radar” and effective detection/risk escalation strategies.
• Ability to work with a wide range of and often senior stakeholders.
• Project management skills.

Diversity and inclusion are a focus for us – Lloyd’s aim is to build a diverse, inclusive environment that reflects the global markets we work in. One where everyone is treated with dignity and respect to achieve their full potential. In practice, this means we are positive and inclusive about making workplace adjustments, we offer regular health and wellbeing programmes, diversity and inclusion training, employee networks, mentoring and volunteering opportunities as well as investment into your professional development.

We understand that our work/life balance is important to us all and that a hybrid of working from the office and home can offer a great level of flexibility. Flexible working forms part of a total reward approach which offers a host of other benefits over and above the standard offering (generous pension, healthcare, wellbeing etc). These include financial support for training, education & development, a benefit allowance (to spend on our flexible benefits such as gym membership, dental insurance, extra holiday or to partake in our cycle to work scheme), employee recognition scheme and various employee discount schemes.

By choosing Lloyd's, you will be part of a team that brings together the best minds in the industry, and together with our underwriters and brokers, we create innovative, responsive solutions allowing us to share risk and solve complex problems.