At a Glance
- Tasks: Be the go-to compliance guru for product development in a dynamic insurance environment.
- Company: Join a forward-thinking insurance company that values diversity and inclusion.
- Benefits: Enjoy competitive pay, flexible working options, and opportunities for professional growth.
- Other info: Embrace a vibrant workplace culture that promotes creativity and accountability.
- Why this job: Make a real difference by ensuring products meet regulatory standards while collaborating with innovative teams.
- Qualifications: Experience in product governance and a knack for problem-solving and communication.
The predicted salary is between 60000 - 75000 £ per year.
Act as a trusted compliance adviser and business partner, specialising in product development compliance within a UK FCA/PRA regulated environment. 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. Responsible for embedding regulatory requirements into product development processes and ensuring all activities performed by the HDI businesses in the UK & Ireland are conducted in accordance with relevant regulations and required standards of legal compliance.
Key accountabilities
- Primary Focus: 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.
- Secondary Focus: 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; systems, problem solving, negotiation, influencing, sales.
- Experience within general insurance, preferably specialty lines.
- Competencies
- 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 and Accountability: Accountable for own delivery to support overall branch priorities and objectives. Identifies roadblocks that might impact delivery and remains accountable for performance.
- Communicating and 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.
As an equal opportunities employer, we are committed to creating an inclusive environment for all employees, recognising that a diverse and inclusive workplace is a creative and prosperous one.
Compliance Business Partner employer: Avencia
As a Compliance Business Partner at our company, you will thrive in a dynamic and inclusive work environment that prioritises employee growth and development. We offer comprehensive training programmes and opportunities for career advancement, ensuring you are well-equipped to navigate the complexities of product development compliance within a UK FCA/PRA regulated landscape. Our commitment to fostering a strong compliance culture and promoting good conduct makes us an excellent employer for those seeking meaningful and rewarding employment.
StudySmarter Expert Advice🤫
We think this is how you could land Compliance Business Partner
✨Tip Number 1
Network like a pro! Reach out to people in the industry, especially those who work in compliance or product development. A friendly chat can lead to insider info about job openings that aren't even advertised yet.
✨Tip Number 2
Prepare for interviews by brushing up on FCA/PRA regulations and recent changes. Show us you know your stuff and can apply it to real-world scenarios. We love candidates who can think on their feet!
✨Tip Number 3
Don’t just wait for job alerts! Regularly check our website for new openings. Sometimes the best opportunities come up when you least expect them, so keep your eyes peeled!
✨Tip Number 4
Follow up after interviews with a thank-you note. It’s a simple gesture that shows your enthusiasm and professionalism. Plus, it keeps you fresh in our minds as we make decisions!
We think you need these skills to ace Compliance Business 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. We want to see how your skills align with the role of Compliance Business Partner, so don’t hold back on showcasing your relevant achievements!
Showcase Your Problem-Solving Skills:In your application, give examples of how you've tackled complex compliance issues in the past. We love seeing candidates who can break down challenges and come up with effective solutions, especially in a regulated environment like ours.
Communicate Clearly:Your written application should reflect your ability to communicate effectively. Use clear and concise language, and make sure to demonstrate how you can influence stakeholders positively. Remember, we’re looking for someone who can engage with teams across the business!
Apply Through Our Website:Don’t forget 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 shows you’re keen to join the StudySmarter team!
How to prepare for a job interview at Avencia
✨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 Clearly
Practice articulating your thoughts clearly and concisely. Since this role involves advising underwriting teams, being able to communicate complex regulatory requirements in an understandable way is crucial. Consider doing mock interviews with a friend to refine your delivery.
✨Demonstrate Customer Focus
Be ready to discuss how you’ve used customer feedback to improve compliance processes or product development. This shows that you understand the importance of aligning compliance with customer needs, which is key for this role.
