Compliance Analyst

This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.

Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we’re bound by a common mission and purpose: One Ascot.

Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.

The Ascot Way guides our people and our organization.

Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach.

• These platforms work as one, deploying our capital creatively through our unique
• Fusion

Model: Client Centric, Risk Centric, Technology Centric.

Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service — both pre- and post-claims.

Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.

Job Purpose

To assist in implementing the Compliance Framework, annual Compliance Plan and associated monitoring within the Ascot Group, comprising of Ascot Underwriting Limited ("AUL"), Ascot Bermuda Limited ("ABL"), Ascot Underwriting Bermuda Limited ("AUBL"), Ascot Insurance Guernsey Limited ("AIGL") and Ascot Group Limited ("AGL").

Providing regulatory and compliance advice across the Group companies, reviewing and updating related policies, procedures, processes and controls on regular intervals.

Taking responsibility for key regulatory matters and collaborating closely with internal stakeholders and departments across the Ascot Group to complete compliance workstreams in a positive, efficient and timely manner.

• Detailed Duties
• Compliance Framework
• Confirming systems and controls are in place to ensure Ascot’s operations in the UK, Bermuda and Guernsey are compliant with the regulations or requirements from:
• Lloyd’s of London
• (“Lloyd’s”) ;
• Lloyd’s Insurance Company
• (“LIC”) ;
• The Prudential Regulatory Authority
• (“PRA”) ;
• The Financial Conduct Authority
• (“FCA”) ;
• The Bermudan Monetary Authority
• (“BMA”) ;
• Guernsey Financial Services Commission
• (“GFSC”) and
• Other regulators’ requirements.
• Providing regulatory and compliance advice in a pragmatic and timely manner, balancing regulatory and commercial requirements across the Group.
• Supporting, understanding and advising the business in a proactive, open and transparent manner.
• Keeping abreast of all regulatory activity across relevant jurisdictions, making sure all areas of the business meet applicable regulatory requirements.
• Reviewing policies, procedures and associated systems and controls to ensure they work efficiently and effectively.
• Compliance Plan
• Assisting with the upkeep of an annual Compliance Plan.
• Executing the annual Compliance Plan with support and assistance from the Compliance Team.
• Assisting with embedding the Compliance Framework and all relevant systems and controls.
• Providing regular updates about progress against the annual Compliance Plan.
• Compliance Monitoring
• Assisting with Compliance Monitoring, providing assurance and ongoing reporting of key compliance and business risks on a range of issues including:
• New broker applications and adherence to credit limits;
• Licensing restrictions and international trading requirements;
• Underwriting authority control and monitoring framework; and
• Other areas as required.
• Horizon Scanning
• Contributing to Horizon Scanning activities with support from the wider Compliance Team, including:
• Assisting with gap and impact analysis; and
• Working with the Function to implement new regulations and requirements in a timely, effective and pragmatic manner.
• SM&CR framework
• Assisting with carrying out the requirements under SM&CR regulations including:
• Drafting and maintaining Ascot’s SM&CR framework;
• Advising on the allocation of functions and prescribed responsibilities;
• Maintaining updates to the Management Responsibilities Map; and
• Assisting with handling applications to Lloyd’s, the PRA and the FCA, as required.
• Reporting and Governance
• Assisting with drafting appropriate Board, Committee or other governance papers for:
• AUL Board;
• AUL Risk Committee;
• AUL Executive Committee; or
• ABL Executive Committee
• Any other Board, Committee, governance bodies or meetings as required.
• Where required, attending Board, Committee or other Ascot governance forums.
• LIC

• Ensuring LIC’s Operating Model is complied with, including

• Supporting the LIC RD to carry out a monthly file review of LIC risks to monitor if the underwriters comply with the requirements of the LIC Underwriting playbook;
• Notifying and recording underwriting and process breaches; and
• Working closely with the Underwriting Teams, Secondees and non-secondees to undertake any remediation activities.
• FCA and Lloyd’s Returns
• Overseeing the Lloyd’s Business Timetable and FCA Returns Calendar to ensure any regulatory returns are completed and submitted in a timely and accurate manner.
• Employers Liability Register (ELR) maintenance & audit
• Acting as primary Compliance Team lead by ensuring Ascot’s ELR is up-to-date and reconciled with valid policy and claims.

• Overseeing and assisting with the annual ELR audit, including

• Co-ordinating with external auditors;
• Liaising with Operations and any other internal teams; and
• Overseeing and managing any associated remediation.
• Training
• Ensuring that training and development regarding compliance matters is in place for all Ascot staff and adhered to.
• Reviewing the content of training courses to ensure they are in-line with regulatory requirements.
• Compliance Projects
• Provide support and input on Compliance projects working with cross functional teams and Group companies.
• Financial Crime
• Where required, working closely with the Financial Crime Team to help ensure Ascot remains compliant with all appropriate sanction and financial crime legislation.
• Conduct & Complaints
• Where required, working closely with the Conduct & Complaints Team to help ensure Ascot adheres to all relevant Conduct and Consumer Duty requirements and continues to place the needs of the customer at the heart of Ascot’s business.
• Culture
• Supporting and promoting a proactive compliance culture within Ascot.
• Engaging positively with the business to support and enable growth in a compliant manner across underwriting divisions.
• Maintaining a proactive, positive, open and transparent working relationship with Senior Compliance Manager and the Function.
• Developing positive relationships and working closely with key stakeholders within Ascot including Legal, Risk, Delegated Authority, Claims, Operations, MI Teams, Senior Underwriters, their teams and the Business.
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