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For Companies At a Glance
- Tasks: Join our Compliance team to ensure regulatory compliance and quality assurance in insurance operations.
- Company: Be part of a forward-thinking company dedicated to high standards of compliance and customer care.
- Benefits: Enjoy a dynamic work environment with opportunities for professional growth and development.
- Why this job: Make a real impact by supporting compliance efforts and building relationships with key stakeholders.
- Qualifications: 5 years in insurance, 3 years in compliance; Cert CII or equivalent required.
- Other info: Ideal for detail-oriented individuals who thrive in fast-paced environments.
The predicted salary is between 36000 - 60000 £ per year.
Job Description
Purpose of Role/Job Overview
We are seeking a proactive and detail-oriented Compliance Officer to join our clients forward thinking Compliance team. This role is critical in ensuring our clients operations remain compliant with regulatory requirements, internal policies, and insurer expectations. You will play a key role in quality assurance, product governance, and conduct oversight, while supporting the business in maintaining high standards of compliance and customer care.
Tasks and Objectives
Responsible for supporting the Head of Compliance, dealing with various compliance-related tasks and requests, including but not limited to:
Quality Assurance: Review and assess insurance documentation for accuracy, completeness, and compliance with internal standards, including policy wordings and version control.
Service Level Agreements (SLAs): Ensure timely delivery of compliance support for Governance and Agency functions. Includes managing daily workflow and queries from the business, brokers and insurers efficiently.
Insurer and Binder Management: Oversee compliance aspects of insurer relationships, binder agreements, and conduct requirements. Maintain and produce regular Binder Management Summaries.
Audit Support: Assist in the completion of insurer audit recommendations and ad-hoc data gathering for audits.
Complaints Handling: Oversee complaints management, including liaison with insurers and brokers, maintaining the Complaints Log, contributing to regular reports and conduct root cause analysis.
Voidance/Cancellation Letters: Contribute to the writing of insurer cancellation letters and obtain insurer approval to issue
Consumer Duty: Manage the Voidance/Cancellation Log, analyse Conduct MI and Team SLAs, and summarise demonstrable case studies in line with Consumer Duty obligations.
Vulnerable Customers: Maintain the Vulnerable Customer Log and produce quarterly returns for insurers.
Compliance Policies: Reviewing and monitoring the application of bespoke internal policies and procedures.
Governance Registers: Oversee registers and provide annual reports for Breaches, Fitness and Propriety, Conflicts of Interest, Gifts and Hospitality, and Headshot Consent.
Third-Party Approvals: Oversee the approval process and on-going due diligence for brokers, insurers, and suppliers.
Sanctions Checks: Manage the sanctions screening process and ensure compliance with relevant regulations.
Relationships: Building effective working relationships with internal and external stakeholders: brokers, customers, insurers, underwriters and senior managers.
Administration: Timely, accurate and efficient processing of information into the database and filing systems. Attending and organising meetings for the Compliance team, and minute-taking as required. Answering incoming calls, taking messages and re-directing calls as required.
Personal Profile Experience
Minimum 5 years of experience in the insurance industry
At least 3 years in a compliance or compliance-related role
Strong understanding of the MGA and wholesale insurance market; prior experience in an MGA is highly beneficial.
Skills/Abilities
Excellent communication and stakeholder management skills.
Strong organisational skills and attention to detail.
Ability to work independently and collaboratively in a fast-paced environment.
IT literate with experience of Word, Excel, PowerPoint, and database software
Ability to apply tact and discretion when dealing with confidential information
Qualifications
Cert CII or equivalent
Minimum of three A-Levels (A-C or 5-9 grade) or equivalent with at least one A-Level in Business Studies, Maths, English or an analytical subject
Minimum of five GCSE’s (A*-C or 5-9 grades, to include Maths and English) or equivalent
Personal Attributes
Personable, hard-working and confident
Energetic, pragmatic and approachable
Compliance Officer - Insurance employer: Massenhove Recruitment Limited
Contact Detail:
Massenhove Recruitment Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Compliance Officer - Insurance
✨Tip Number 1
Familiarise yourself with the latest compliance regulations in the insurance industry. This will not only help you understand the role better but also demonstrate your commitment to staying updated, which is crucial for a Compliance Officer.
✨Tip Number 2
Network with professionals in the insurance and compliance sectors. Attend industry events or join relevant online forums to connect with others who can provide insights or even refer you to opportunities at StudySmarter.
✨Tip Number 3
Prepare to discuss specific examples of how you've handled compliance issues in the past. Being able to articulate your experience with quality assurance, audit support, or complaints management will set you apart during interviews.
✨Tip Number 4
Showcase your organisational skills by discussing any tools or methods you use to manage compliance tasks effectively. Highlighting your ability to maintain accurate records and manage workflows will resonate well with our expectations for this role.
We think you need these skills to ace Compliance Officer - Insurance
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in compliance and the insurance industry. Emphasise your understanding of regulatory requirements and any specific compliance roles you've held.
Craft a Strong Cover Letter: Write a cover letter that showcases your passion for compliance and your ability to manage relationships with stakeholders. Mention specific examples from your past experience that demonstrate your skills in quality assurance and complaints handling.
Highlight Relevant Qualifications: Clearly list your qualifications, such as Cert CII or equivalent, and ensure you mention your A-Levels and GCSEs. This will help demonstrate that you meet the educational requirements for the role.
Showcase Soft Skills: In your application, highlight your communication and organisational skills. Provide examples of how you've worked independently and collaboratively in previous roles, especially in fast-paced environments.
How to prepare for a job interview at Massenhove Recruitment Limited
✨Know Your Compliance Regulations
Familiarise yourself with the key compliance regulations relevant to the insurance industry. Be prepared to discuss how these regulations impact the role and how you can ensure adherence within the company.
✨Demonstrate Attention to Detail
As a Compliance Officer, attention to detail is crucial. Bring examples of how you've successfully managed compliance tasks in the past, highlighting your ability to review documentation for accuracy and completeness.
✨Showcase Your Stakeholder Management Skills
Prepare to discuss your experience in building relationships with various stakeholders, such as brokers and insurers. Highlight specific instances where your communication skills helped resolve compliance issues or improve processes.
✨Be Ready for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving abilities in compliance situations. Think about past experiences where you had to handle complaints or manage audits, and be ready to explain your approach and outcomes.
