At a Glance
- Tasks: Support compliance framework and oversee regulatory requirements for insurance entities.
- Company: Davies Insurance Solutions, a diverse and inclusive workplace.
- Benefits: 25 days holiday, private medical, pension contributions, and discounts at over 800 retailers.
- Other info: Join a dynamic team with opportunities for professional development and growth.
- Why this job: Make a real impact in compliance while developing your skills in a supportive environment.
- Qualifications: 5 years experience in compliance, strong communication, and leadership skills required.
The predicted salary is between 50000 - 60000 € per year.
The candidate will support the Head of Compliance and the compliance team to enhance, maintain and deliver the Davies Insurance Solutions regulatory compliance framework. This will involve oversight of the Intermediary Services’ network of Appointed Representatives. The role will also cover the oversight of the global Insurance Solutions entities acting as a group oversight function.
Key Responsibilities
- To enhance, monitor and maintain adequate and appropriate systems and controls to ensure all Davies Insurance Solutions’ (DIS) regulated entities and Appointed Representatives meet their regulatory requirements.
- To manage the regulatory requirements of DIS stemming from the FCA rules relating to General Insurance and Consumer Credit Broking activities, including the embedding of the Consumer Duty.
- To oversee the compliance monitoring plan (CMP) for DIS, including each AR monitoring plan and to ensure it is managed in accordance with the company objectives.
- To provide meaningful, timely MI to the Compliance and Governance Director and the other Board Directors/Risk Committee members.
- To oversee a portfolio of Appointed Representative firms MGAs/Brokers providing robust ongoing monitoring and oversight to ensure they are compliant with the requirements of the regulatory framework.
- To provide advice and hold responsibility for the management of any parts of the FCA compliance plan or notification letters received from the FCA.
- To report progress to the Board members of the regulated company on a regular basis.
- To oversee the production of board reports for each AR and DIS compliance board meetings, Group Risk & Governance Board; review Insurer audit reports and draw recommended remedial actions to the AR.
- Deputise for the Head of Compliance when required, attending meetings, being the point of contact, providing subject matter expertise.
- Lead a culture of learning and development, encouraging the individual team members to develop and expand their technical compliance knowledge and capabilities.
- To work closely with the Head of Compliance, the Compliance team, CEO Intermediary Services, CEO Insurance Services, other controlled function Directors, Head of Legal, Head of Client Solutions and Head of Business Development.
- To build strong relationships with the key stakeholders, including CEOs, Directors, and Managers of DIS’ Appointed Representatives and other clients.
- To work closely with the FCA, FOS, Lloyd’s of London, and other useful organisations such as MGAA and BIBA.
Skills, Knowledge & Expertise
- The candidate should have circa 5 years’ work experience and previous management experience preferably in a compliance function, within the general insurance sector.
- High level interpersonal skills – ability to build successful, mutually beneficial business relationships.
- Leadership and People Management skills.
- Strong communication skills in a variety of mediums including written; presentation and oral skills.
- Influencing and negotiation skills.
- Planning, organisational and measuring skills.
- A detailed understanding of the FCA rules such as PRIN, ICOBS, SYSC, PROD and SUP Supervision.
- A good awareness and understanding of the Consumer Duty requirements for firms.
- The candidate should have a clear understanding of the implications of IDD, GDPR, Brexit and the importance of applying the Training and Competence requirements within DIS and across the network of ARs.
- Have a sound understanding of the MGA model, as well as broker incubation solutions, including specifically in relation to the regulatory oversight of appointed representatives and an understanding of the outcomes from the FCA’s Thematic review (TR16/6: Principals and their appointed representatives in the general insurance sector).
- Being a role model for the compliance team and supporting the Head of Compliance and other Compliance Managers with the running of the team.
Job Benefits
Davies are committed to being a diverse and inclusive workplace. We welcome candidates of all genders, gender identity and expression, neurodiversity, sexual orientation, disability, physical appearance, body size, race, age, nationality, and belief (or lack thereof). Join us and enjoy our ever-evolving benefits, including but not limited to:
- Reward platform – discounts for over 800 retailers
- 25 days holiday (rising with service)
- Well-being centre
- Recognition programme
- Family friendly employer
- Pension - company contribution at 10%
- Life Assurance (10 x basic salary)
- Private medical with an annual health check
- Development, training, and professional qualification
- Employee volunteering programme
Compliance Manager in London employer: Davies
Davies Insurance Solutions is an exceptional employer that prioritises a diverse and inclusive work environment, fostering a culture of continuous learning and development. With a strong commitment to employee well-being, we offer generous benefits such as 25 days of holiday, a robust pension scheme, and opportunities for professional growth, making it an ideal place for compliance professionals to thrive in their careers while contributing to meaningful regulatory oversight.
StudySmarter Expert Advice🤫
We think this is how you could land Compliance Manager in London
✨Tip Number 1
Network like a pro! Reach out to your connections in the compliance field, especially those who work at Davies or similar companies. A friendly chat can sometimes lead to job opportunities that aren't even advertised.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of FCA rules and the Consumer Duty requirements. We want you to be able to discuss these topics confidently, showing that you're not just a candidate but a potential asset to the team.
✨Tip Number 3
Showcase your leadership skills! Think of examples from your past experiences where you've led a team or managed compliance projects. This will help us see how you can fit into our culture of learning and development.
✨Tip Number 4
Don't forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, it shows us that you're genuinely interested in being part of the Davies family.
We think you need these skills to ace Compliance Manager in London
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter for the Compliance Manager role. Highlight your relevant experience in compliance, especially within the general insurance sector, and show how you can enhance our regulatory framework.
Showcase Your Skills:We want to see your strong communication and interpersonal skills shine through. Use specific examples to demonstrate how you've built successful relationships and influenced stakeholders in your previous roles.
Be Clear and Concise:When writing your application, keep it clear and to the point. We appreciate well-structured documents that make it easy for us to see your qualifications and fit for the role without wading through unnecessary fluff.
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 Compliance Manager position. We can’t wait to hear from you!
How to prepare for a job interview at Davies
✨Know Your Regulations
Make sure you brush up on the FCA rules and regulations relevant to the role, such as PRIN, ICOBS, and the Consumer Duty. Being able to discuss these confidently will show that you're not just familiar with compliance but also ready to tackle the challenges head-on.
✨Showcase Your Leadership Skills
As a Compliance Manager, you'll need to demonstrate strong leadership and people management skills. Prepare examples of how you've successfully led teams or projects in the past, especially in a compliance context, to illustrate your capability to guide others.
✨Build Relationships
Highlight your ability to build strong relationships with stakeholders. Think of specific instances where you've successfully collaborated with senior management or external partners, as this is crucial for the role. Be ready to discuss how you can foster these connections at Davies Insurance Solutions.
✨Prepare for Scenario Questions
Expect scenario-based questions that assess your problem-solving and decision-making skills in compliance situations. Practice articulating your thought process and the steps you would take to ensure compliance while balancing business needs.
