Product Governance Analyst

IQUW is a speciality (re)insurer at Lloyd's (Syndicate 1856) underwriting a diverse range of Property, Commercial and Speciality (re)insurance products from Cargo and Marine to Political Violence, Terror and War. We combine data, intelligent automation, and human expertise to make smart decisions, fast.

ERS is the UK's largest specialist motor insurer with an A+ rating. We recognise that for some, motor insurance is more than just a must-have; it's a way of taking care of what stands at the heart of their passion or livelihood. For those people, standard insurance isn't enough. That's why we work exclusively with motor insurance brokers to help get under the skin of the most difficult insurance risks, helping build products to meet their customer's needs.

The role involves assisting the Senior Conduct Manager in ensuring the business remains compliant with both regulatory and legislative requirements imposed by Lloyd's, the Prudential Regulatory Authority (PRA), Financial Conduct Authority (FCA) and all relevant UK and overseas regulatory bodies. The main focus is to assist with the investigation and provision of accurate and timely responses to all compliance advisory questions raised by the business and to ensure both Conduct and Product reviews are completed in a timely fashion and in line with Regulatory requirements.

Key responsibilities:

• Researching industry compliance regulations and policies.
• Helping to evaluate internal operational and procedural compliance to ensure that it serves the needs of the customer.
• Analysing and updating existing compliance policies and related documentation.
• Work closely with the business, providing management reports on customer outcomes, regulatory adherence, case study reviews, and support the business in making appropriate improvements.
• Promoting a culture of compliance by helping to raise awareness of compliance and regulatory matters and encourage adherence to applicable laws and regulations.
• Helping to ensure the Compliance Delegated Underwriting approvals are dealt with promptly, escalating matters as appropriate.
• Helping to ensure Product reviews are undertaken according to the plan and sharing any impacts, insight, and learning/feedback with the relevant business area, escalating matters as appropriate.
• Support reporting of Product Governance and provision of documentation to the Regulator as and when required.
• Identify trends and remedy of any recurring or systemic issues with the aim of maintaining Regulatory adherence and minimising business impact through different analysis types.
• Supporting the Senior Conduct Manager with the identification and management of all legal and regulatory developments (horizon scanning) and signposting matters for executive consideration.
• Undertaking all other duties as reasonably required and directed.
• Assist the Senior Conduct Manager by contributing to management reports on Regulatory updates and activity affecting the business.

Essential qualifications, skills and experience:

• Demonstrate a high level of problem solving and the ability to resolve issues.
• Demonstrate strong organisational skills.
• Strong analytical skills.
• Excellent interpersonal skills, able to communicate effectively with a wide range of people face to face and over the telephone.
• Excellent written communication skills to allow the jobholder to write and respond to emails and other written correspondence in a professional and efficient manner both internally and externally.
• Participate in all departmental activities (training, controls, maintenance, and reporting) as required.
• Ability to react to change positively and use initiative to provide guidance to the business, relating to that change.

Desirable behavioural attributes:

• Technical knowledge of IQUW product range including understanding of the coverage provisions, exclusions, and conditions of our product wordings.
• Excellent knowledge of the legal, regulatory and compliance provisions that apply to your product range, distribution channels and market or technical field in which you operate.
• Working knowledge and experience of operating in our chosen distribution channels including the main operating models of brokers and other distribution partners.
• Good understanding of the UK Regulatory regime and global scheme of regulation.
• Experience working in a Compliance department or other related assurance role within the insurance industry preferably with Lloyd's experience.
• Good knowledge of Microsoft Office suite of tools including Word, Excel & PowerPoint.

Benefits:

• Competitive Benchmarked Salary
• 25 days holiday
• Discretionary bonus scheme
• Employee assistance programme
• Annual holiday buy (up to 3 extra days)
• Salary sacrifice benefits
• Annual benefits reviews
• The option for professional qualifications and study support

A full job description will be found here.