Compliance Manager

The Compliance Manager will play a pivotal role in maintaining the firm’s regulatory framework while providing direction for key strategic compliance projects. This role involves providing expert advice on Lloyd’s and FCA/PRA regulations and managing the end-to-end delivery of complex regulatory initiatives.

About the Department & Team:

• Vision: To help people to make effective risk-based, disciplined decisions doing the right thing.
• The LSM Compliance Function is a key part of LSM's internal control framework predominantly within the second line of defence, responsible for:

• Establishing an open and constructive relationship with LSM’s regulators (and supervisory bodies).
• Coordinating and managing this relationship with including, but not limited to, the Prudential Regulation Authority, the Financial Conduct Authority and Lloyd’s.
• Providing advice to the LSM governing bodies on compliance with applicable laws and regulations, and providing advice to the business, for example in the form of policies and procedures or written updates, in relation to applicable laws and regulations.
• Assessing the possible impact of any regulatory development on the operations of the business and working with the business with regard to compliance.
• The identification and assessment of compliance risk, and the development and oversight of an appropriate framework to ensure the management of compliance risk.
• Ensuring that LSM’s Compliance Strategy is in line with its broader strategic objectives.
• Working closely with Liberty Mutual Group Compliance & Ethics to ensure that the LSM compliance framework is consistent with the framework in place for the Liberty Mutual Group.
• Reporting to the LSM governing bodies in relation to the management of compliance risk including the provision of all relevant management information to allow key decision making to be undertaken.
• For a number of compliance and conduct processes, act as the point of contact for the business for all reporting.
• Working with HR, develop and implement relevant and timely compliance education and training to all LSM colleagues.

Key Responsibilities of the role:

• Support the Head of Assurance and Advisory Pillar in effectively managing the team, ensuring compliance with regulatory obligations, seamless operation and instilling compliance culture throughout the organisation.
• Policy Development: Create, update, and enforce internal policies and procedures to meet regulatory standards.
• Risk Management: Identify, assess, and mitigate compliance-related risks through regular audits and assessments.
• Monitoring & Reporting: Oversee operations, monitor adherence to rules, and report findings and recommendations.
• Training & Education: Develop and deliver training to educate employees on compliance requirements and ethical standards.
• Investigations: Investigate potential breaches of laws or policies and recommend corrective actions.
• Regulatory Liaison: Help maintain open and constructive relationships with the regulatory bodies and stay informed about new legislation.
• Documentation: Maintain comprehensive records of compliance activities, audits, and training.
• Horizon scanning: Monitor, impact assess and implement applicable regulations in a timely manner by liaising with and supporting relevant stakeholders within the business to stay compliant.
• Be an effective people leader by providing direction, empowering and inspiring to help create a cohesive and high performing team.
• Provide advice and guidance to the A&A team as well as the wider business on compliance matters as well as applicable laws and regulations.
• Continuously evaluate existing processes of the team and propose solutions to re-engineer them for maximum efficiency using offshoring, automation and AI tools.
• Support the head of A&A in overseeing projects, such as system enhancements, or the operationalization of new regulatory mandates alongside the ops team.
• Work closely with the wider compliance team function including Business Partners, EU Compliance Officer and the Group to ensure strategic alignment and consistency.
• Maintain up-to-date knowledge of all relevant regulatory requirements and developments.
• Develop close working relationships with business stakeholders as well as peers within the market through networking, market association meetings, seminars etc. to gain valuable insights, share good practice and utilise for the advantage of the team and the business.

Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM's commitment to placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements include Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

Skills and Experience:

• We are seeking an enthusiastic, solution-focused, self-motivated, result-oriented individual.
• A good understanding of the general insurance industry and ideally the Lloyd’s market along with:

• Regulatory analysis: Experience interpreting and applying regulatory rules to practical scenarios and helping to devise compliant, and commercially acceptable solutions.
• Integrity: Upholding high ethical standards.
• Attention to Detail: Meticulous in reviewing policies and procedures.
• Communication: Excellent verbal and written skills for training and reporting.
• Strong interpersonal and influencing skills with the ability to deal with staff at all levels of the organisation.
• A critical thinker able to demonstrate and evidence the use of analytical skills to support decision making in compliance and financial services.
• Experience of implementing and driving processes to achieve desired outcomes.
• Ability to challenge and apply professional scepticism to data and compliance related information.
• Proactive, showing initiative when completing tasks by pre-empting issues and proposing solutions.
• A self-led learner with curiosity and appetite to develop and apply subject matter expertise.
• Able to challenge and be challenged. Ability to listen, be flexible, but decisive. Pragmatic and principled, not dogmatic. Proactive with a can-do attitude.

About Liberty Specialty Markets (LSM):

Liberty Specialty is part of Global Risk Solutions and the broader Liberty Mutual Insurance Group, which is a leading global insurer. We offer a breadth of world-class insurance and reinsurance services to brokers and insureds in all major markets. Our people are key to our success. That is why "Put People First" is one of the five Liberty values which unite us as a global organisation. We bring this to life for our colleagues through:

• Offering a vibrant and inclusive environment and committing to their career development.
• Promoting diversity, equity and inclusion (DEI).
• Our Inclusion Matters framework and employee-led networks strengthen the diversity of our workforce and our inclusive environment.
• Reinforcing that collaborating together to share our unique perspectives helps us make better decisions, deliver innovative solutions and pursue our ambitious goals.
• A supportive culture, which includes promoting a healthy work-life balance and working flexibly.