At a Glance
- Tasks: Guide product development to ensure compliance with regulations from design to launch.
- Company: Global insurer operating in 40 countries, focused on compliance and innovation.
- Benefits: Inclusive workplace, competitive salary, and opportunities for professional growth.
- Other info: Join a dynamic team committed to fostering a strong compliance culture.
- Why this job: Be a key player in shaping compliant products that make a difference.
- Qualifications: Experience in product governance and conduct risk within insurance.
The predicted salary is between 60000 - 75000 £ per year.
Our client is a global commercial and specialty insurer operating across 40 countries, looking to grow their compliance team.
The Role
Working directly with underwriting teams, this role provides expert guidance to ensure that new products, product changes, and distribution strategies meet regulatory requirements from design through to launch. Acting as a trusted compliance adviser and business partner, the role specialises in product development compliance within a UK FCA/PRA regulated environment. Responsible for embedding regulatory requirements into product development processes and ensuring all business activities across the UK & Ireland are conducted in accordance with relevant regulations and required standards of legal compliance.
Key Accountabilities
- Product Development Compliance
- Serve as the primary compliance contact for underwriting teams (initially Accident & Health and Delegated Authority) on all product development and product change initiatives.
- Review new products, product changes, and distribution strategies from a compliance perspective, ensuring regulatory expectations are met from design through to launch.
- Assist underwriting teams in completing New Product Risk Assessments and applying relevant internal guidelines impacting product development.
- Embed FCA/PRA regulatory requirements, Consumer Duty obligations, and conduct risk expectations into day-to-day product development processes.
- Advise on the interpretation and practical application of regulatory rules within real-world product development scenarios.
- Maintain accurate and complete documentation of compliance processes, controls, and decision‑making within the product development space.
- Escalate material regulatory risks and issues arising from product development appropriately.
- Broader Compliance Support
- Provide general advice on FCA regulation, Consumer Duty, and conduct risk as required.
- Support the broader business in understanding and applying regulatory requirements to customer journey activities including design, pricing, distribution, claims, and complaints.
- Deliver compliance training and promote a strong compliance culture across the business.
- Act as a trusted adviser and role model for first‑line accountability, promoting good conduct across the business.
Skills & Experience
- Experience: Significant experience within product governance and conduct risk. Experience within general insurance, preferably specialty lines.
- Problem Solving: Uncovers information to identify causal links. Uses a variety of tools and techniques to break down complex issues and spots trends, patterns, and interdependencies. Assesses risks and identifies solutions.
- Delivery & Accountability: Accountable for own delivery to support overall business priorities and objectives. Identifies roadblocks that might impact delivery and remains accountable for performance.
- Communicating & Influencing: Positively impacts the actions and decisions of stakeholders, ensuring they are involved throughout. Negotiates confidently without damaging relationships whilst building support and buy‑in for ideas. Adapts communication style depending on audience.
- Customer Focus: Develops a deep understanding of the true nature and complexities of the customer business and uses this to implement ideas and technical expertise. Ensures customer feedback is acted on so that customer service excellence is not affected. Builds sustainable long‑term relationships and spots opportunities to develop business.
We are committed to creating an inclusive environment for all employees, recognising that a diverse and inclusive workplace is a creative and prosperous one.
Product Compliance & Governance Partner employer: Avencia Talent Solutions
As a global commercial and specialty insurer, our client offers an exceptional work environment that prioritises compliance excellence and employee growth. With a strong commitment to inclusivity and a culture that fosters collaboration, employees are empowered to develop their skills while contributing to meaningful product governance initiatives. Located in the UK, this role provides unique opportunities to engage with diverse teams and navigate the complexities of regulatory requirements, ensuring a rewarding career path in the insurance sector.
StudySmarter Expert Advice🤫
We think this is how you could land Product Compliance & Governance Partner
✨Tip Number 1
Network like a pro! Reach out to people in the industry, attend events, and connect on LinkedIn. You never know who might have the inside scoop on job openings or can put in a good word for you.
✨Tip Number 2
Prepare for interviews by researching the company and its products. Understand their compliance needs and think about how your experience aligns with their goals. This will help you stand out as a knowledgeable candidate.
✨Tip Number 3
Practice your pitch! Be ready to explain how your skills in product governance and compliance can benefit the team. Keep it concise and focus on how you can add value from day one.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets seen by the right people. Plus, we love seeing candidates who are proactive about their job search.
We think you need these skills to ace Product Compliance & Governance Partner
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter to highlight your experience in product governance and compliance. Use keywords from the job description to show that you understand what we're looking for.
Showcase Relevant Experience:When detailing your work history, focus on your significant experience within product governance and conduct risk. Share specific examples of how you've navigated regulatory requirements in past roles to demonstrate your expertise.
Be Clear and Concise:Keep your application straightforward and to the point. We appreciate clarity, so avoid jargon and ensure your key achievements stand out. This will help us quickly see why you're a great fit for the role.
Apply Through Our Website:We encourage you to submit your application through our website. It’s the best way for us to receive your details and ensures you’re considered for the role. Plus, it’s super easy!
How to prepare for a job interview at Avencia Talent Solutions
✨Know Your Regulations
Make sure you brush up on FCA and PRA regulations before the interview. Understanding these regulations will not only help you answer questions confidently but also show that you're serious about compliance in product development.
✨Showcase Your Problem-Solving Skills
Prepare examples of how you've tackled complex compliance issues in the past. Use the STAR method (Situation, Task, Action, Result) to structure your answers, highlighting your ability to identify risks and implement solutions effectively.
✨Communicate Like a Pro
Practice adapting your communication style for different audiences. Be ready to explain complex regulatory concepts in simple terms, as you'll need to influence various stakeholders in this role. Think of scenarios where you've successfully negotiated or built support for an idea.
✨Emphasise Customer Focus
Demonstrate your understanding of customer needs and how compliance impacts their journey. Prepare to discuss how you've used customer feedback to improve processes or products, showing that you can balance compliance with excellent customer service.
