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: Competitive salary, career growth, and a chance to shape industry standards.
- Other info: Join a dynamic team dedicated to promoting a strong compliance culture.
- Why this job: Be a key player in ensuring products meet regulatory standards and make a real impact.
- Qualifications: Experience in product governance and conduct risk, preferably in insurance.
The predicted salary is between 60000 - 80000 £ per year.
Our client is a global commercial and specialty insurer operating across 40 countries, looking to grow their compliance team.
Role
Working 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.
Key Accountabilities
- Product Development Compliance
- Serve as the primary compliance contact for underwriting teams (Accident & Health and Delegated Authority) on all product development and product change initiatives.
- Review new products and product changes 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
- Significant experience within product governance and conduct risk.
- Experience in Accident & Health and Delegated Authority product lines would be highly desirable.
- Experience within general insurance, preferably specialty lines.
Product Governance & Compliance Business Partner employer: Avencia
As a global leader in commercial and specialty insurance, our client offers a dynamic work environment that fosters collaboration and innovation. Employees benefit from a strong compliance culture, comprehensive training programmes, and opportunities for professional growth within a UK FCA/PRA regulated framework. With a commitment to regulatory excellence and a supportive team atmosphere, this role is ideal for those seeking meaningful contributions in the insurance sector.
StudySmarter Expert Advice🤫
We think this is how you could land Product Governance & Compliance Business Partner
✨Join Compliance Communities
Get involved in compliance and risk communities — both online and offline. Look for forums, LinkedIn groups, or even local meetups where compliance pros hang out. You never know who might drop a job opportunity your way!
✨Attend Industry Conferences
Keep an eye out for compliance and risk management conferences and workshops in your area. These events are a goldmine for networking, and they often have job boards or recruiters on-site looking for new talent. Plus, it’s a chance to learn what's trending in the field.
✨Leverage Your University Career Services
If you’ve recently graduated or are still studying, head over to your university's career services. Many companies, including those in compliance, actively recruit fresh talent through these services, so make sure you tap into that resource.
✨Showcase Your Knowledge Online
Start writing articles or blog posts about compliance topics that interest you. Share them on platforms like LinkedIn to demonstrate your knowledge and passion. This not only builds your presence in the field but can also catch the attention of companies like Avencia looking for candidates who are engaged and informed.
We think you need these skills to ace Product Governance & Compliance Business Partner
Some tips for your application 🫡
Show Your Understanding of Compliance:In the compliance-risk field, it's super important to showcase your understanding of regulations and risk management frameworks. Highlight any relevant coursework, certifications (like ICA or AML), or even projects that demonstrate your knowledge and commitment to this area. We want to see how you can navigate this complex landscape!
Quantify Your Achievements:When detailing your experience, try to quantify your achievements. For example, if you've previously worked on a project that improved compliance metrics or reduced risk exposure, give us the numbers! This data-driven approach really stands out to hiring managers in compliance-risk roles.
Tailor Your CV to Reflect Relevant Skills:Make sure your CV highlights skills that are particularly relevant to compliance, like attention to detail, analytical thinking, and report writing. Ensure these are easy to spot – consider using bullet points to break down your responsibilities and achievements for maximum impact!
Craft a Motivating Cover Letter:In your cover letter, let us know why you’re excited about the compliance-risk role at Avencia. Share what motivates you about compliance, and how you believe you can contribute to our mission. This is your chance to showcase not only your skills but also your passion for this important field!
How to prepare for a job interview at Avencia
✨Master the Regulations
Brush up on key compliance regulations relevant to the industry you're applying to. Familiarising yourself with specific laws and frameworks used in your field will give you an edge during technical questions. Show that you’re not just aware of them but can also apply them—think real-life scenarios!
✨Show Your Analytical Skills
Compliance roles really focus on analytical skills, so be prepared for case studies or situational questions during the interview. We've got to demonstrate how we approach risk assessments or compliance audits, possibly drawing on examples from past experiences or university projects. Bring some thoughtful case scenarios to discuss!
✨Know Your Tools
Get comfortable with commonly used compliance software and tools. Familiarity with platforms like RSA or MetricStream can really impress during your interview, as it shows you're ready to hit the ground running. If you’ve had any experience with them, make sure to highlight that!
✨Align with Company Culture
Since it's a full-time position, show your long-term commitment and interest in the company’s mission and values. Dive into how your ethics and professional philosophy align with Avencia’s stance on compliance. A shared vision can really resonate with interviewers looking for fit as much as skill!
