At a Glance
- Tasks: Lead product governance activities and ensure compliance with regulatory requirements.
- Company: Dynamic insurance company offering a flexible remote work environment.
- Benefits: Competitive day rate, mainly remote work, and opportunities for professional growth.
- Other info: Initial 3-month contract with potential for extension and site visits.
- Why this job: Make a real impact on customer outcomes while working with diverse stakeholders.
- Qualifications: 3-5 years in Product Governance or related roles, with strong analytical skills.
The predicted salary is between 56059 - 68517 £ per year.
We are recruiting for a Product Governance Manager to join our client, an insurance company. This is a 3-month contract opportunity, offering an excellent day rate employed via an Umbrella company.
About the role:
To lead and deliver product governance activities, including product reviews and fair value assessments, ensuring compliance with regulatory requirements and the delivery of good customer outcomes throughout the product lifecycle.
Key responsibilities include:
- Maintain accurate product governance records and ensure compliance with FCA PROD requirements, Consumer Duty expectations and internal policies.
- Build effective relationships with internal and external stakeholders to support robust product governance and timely action delivery.
- Undertake annual product reviews, new product assessments and ongoing product monitoring across the product lifecycle.
- Complete Fair Value Assessments as part of the product review process, assessing costs, benefits, fees, charges and customer outcomes.
- Oversee product development and proposition changes from initiation through to implementation.
- Assess products against target market needs, characteristics and objectives, identifying, managing and escalating potential customer harm.
- Coordinate stakeholder input into product reviews, including Commercial, Compliance, Risk and Operations.
- Analyse product, customer and distributor MI to identify trends, emerging risks and opportunities for improvement.
- Lead investigations and root cause analysis to understand the drivers of customer, conduct, operational or performance issues.
- Assess customer outcomes, including those experienced by vulnerable customers, and recommend improvements where required.
- Monitor distributor performance and distribution arrangements to ensure products are distributed to the intended target market and deliver appropriate customer outcomes.
- Prepare, challenge and present product reviews, Fair Value Assessments and recommendations to governance forums and committees.
- Own, implement and oversee the timely completion of actions arising from product reviews, monitoring activities and governance decisions, challenging stakeholders where required to ensure delivery.
About you:
- Minimum of 3-5 years' relevant experience in a Product Governance, Product Oversight, Consumer Duty or Conduct Risk role.
- Good working knowledge of FCA Product Governance requirements, including PROD 4, Consumer Duty and Fair Value Assessment requirements.
- Experience of undertaking product reviews, analysing MI and assessing customer outcomes.
- Experience of presenting findings and recommendations to governance forums and senior stakeholders.
- Experience of working with and influencing cross-functional stakeholders to deliver actions and improvements.
- Experience of co-manufactured products and distribution oversight arrangements desirable but not essential.
Additional Information:
- Location: London or Manchester - Mainly remote with 1 or 2 site visits.
- Duration: Initial 3 months.
Product Governance Manager in London employer: BDO LLP
As a leading insurance company, we pride ourselves on fostering a dynamic and inclusive work environment that prioritises employee growth and development. With a focus on collaboration and innovation, our London and Manchester offices offer a unique opportunity to engage in meaningful work while enjoying the flexibility of mainly remote arrangements. Join us to be part of a team that values your contributions and supports your career aspirations in a thriving industry.
StudySmarter Expert Advice🤫
We think this is how you could land Product Governance Manager in London
✨Tap into Local Agencies
For temporary roles like the one at BDO LLP, don't overlook local recruitment agencies that specialise in the insurance sector. They often have inside info on your local market and can help you get your foot in the door quicker!
✨Seasonal Opportunities Are Gold
Insurance companies often ramp up staffing for specific seasons, especially during peak times like annual policy renewals. Keep an eye out for those temporary gigs and be ready to jump in. Make sure you’re on our website regularly to catch those listings!
✨Network with Industry Pros
Join insurance-focused online platforms and forums to connect with professionals who can share insider tips about temporary roles. Attend local industry meetups or workshops to widen your network; sometimes it’s all about who you know!
✨Showcase Your Flexibility
For temp roles, employers are often looking for candidates who can hit the ground running. Highlight any previous experience you have in fast-paced environments on your profile or during interviews, so BDO LLP knows you can adapt quickly to their needs!
We think you need these skills to ace Product Governance Manager in London
Some tips for your application 🫡
Highlight Relevant Certifications:In the insurance world, having the right qualifications can set you apart. If you've got any certifications like Cert CII or other relevant credentials, make sure they're front and centre on your CV. It shows you're committed to the industry and ready to hit the ground running!
Showcase Your Customer Service Skills:Insurance is all about helping clients through tricky times. Use your application to mention your previous customer service experience or soft skills like problem-solving and empathy. These are crucial for any temporary role in the insurance sector, so don’t shy away from flexing these muscles!
Tailor Your CV for the Temp Role:For a temporary position, it's all about demonstrating your ability to adapt quickly. Tailor your CV to highlight experiences that show you can jump in and make an impact immediately. Mention short projects, freelance gigs, or any fast-paced roles that show you thrive in dynamic environments.
Be Clear About Availability:In your cover letter, clearly state your availability for the temporary role. Since this is a short-term gig, emphasising your flexibility and readiness to start immediately can really catch BDO LLP's eye. Remember, they need someone who can fit right in, so make it easy for them to see you as that person!
How to prepare for a job interview at BDO LLP
✨Master the Basics of Underwriting
Since you're aiming for a temporary role in insurance, brush up on the basic principles of underwriting. Be ready to discuss how you would assess risks and make simple decisions on policy issuance, as these are likely to come up in technical questions.
✨Familiarise Yourself with Relevant Regulations
Insurance is heavily regulated, so it helps to be familiar with key regulations that affect the industry. Bring up any specific legislation you're aware of and how it could impact your work at BDO LLP. This shows you're engaged and knowledgeable.
✨Highlight Your Flexibility
As it's a temporary position, it's crucial to stress your adaptability. Talk about previous experiences where you had to pick up new tasks quickly or adjust to changing needs. Employers will appreciate your willingness to jump in and get the job done without a long onboarding process.
✨Prepare to Discuss Claims Processing
Be ready to dive into discussions around claims processing, as this might be a big part of your role. Bring along examples of how you've approached problem-solving in past roles, especially if you've dealt with customer claims or insurance queries before. It's a great way to show your relevant experience.
