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For Companies At a Glance
- Tasks: Lead compliance efforts and ensure regulatory standards are met in the insurance sector.
- Company: Join a dynamic insurance business offering diverse home, motor, and commercial insurance solutions.
- Benefits: Enjoy hybrid working with one day in the West Yorkshire office and flexible work options.
- Why this job: Be a key player in shaping compliance strategies while supporting business growth and stability.
- Qualifications: Must have senior compliance experience, preferably in insurance, with knowledge of FCA regulations.
- Other info: Opportunity to influence company direction and build industry relationships.
The predicted salary is between 48000 - 72000 £ per year.
Job Description
Insurance business offering a wide range of home, motor and commercial insurance are seeking a Head of Compliance. Leading the Compliance function, and reporting to the Director of Customer and Compliance, you will be responsible for structuring, leading and developing the team to best in class compliance standards in UK insurance.
The role will take overall responsibility for compliance duties and obligations, including direction, strategic development, performance and maintenance of regulatory activity-across the business.
The business operates a hybrid working week, the expectation would be 1 day per week in the firms West Yorkshire Head Office.
Role responsibilities
Ensuring the business meets all the necessary compliance requirements and that the appropriate risk mitigation/control measures are in place.
Developing the annual compliance plan and directing and managing all compliance activities.
Providing expertise, advice, guidance, and support to the business with regards to compliance activities.
Having overall responsibility for the compliance monitoring framework to assess and report on policy compliance, making recommendations for corrective actions where required, and tracking actions through to delivery including periodic reviews of departments.
Preparing influential, informative, and advisory reports for the Board, leadership committees and regulatory bodies, as required, including Group reporting.
Building and maintain appropriate industry relationships with external parties, to benefit the internal compliance environment.
Personal attributes & experience:
Previous experience in a senior compliance role, preferably within the insurance industry.
Significant knowledge of the FCA Handbook, in particular PRIN, SUP, SYSC, ICOBS, DISP and their application relating to the distribution of insurance products.
Experience delivering within compliance and regulatory control evaluation programmes in an audit, internal controls or compliance monitoring environment and had input into the design of the programme.
You are a \’business enabler\’, looking for ways to remain compliant whilst supporting business stability, change and growth and without undue customer impact.
Ability to challenge assumptions, identify and understand complex issues and escalate as appropriate.
You have experience of the Senior Manager & Certification Regime gained in a dual regulated firm.
Please note, should feedback not be received within 28 days due to the large volume of applications, unfortunately, your application has been unsuccessful.
Head of Compliance employer: MERJE
Contact Detail:
MERJE Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Head of Compliance
✨Tip Number 1
Network with professionals in the insurance compliance sector. Attend industry events or webinars to connect with others who may have insights into the role and the company culture at StudySmarter.
✨Tip Number 2
Familiarise yourself with the latest updates in the FCA Handbook, especially the sections relevant to insurance. Being well-versed in these regulations will help you demonstrate your expertise during any discussions or interviews.
✨Tip Number 3
Prepare to discuss your previous experiences in compliance roles, particularly how you've successfully implemented compliance strategies. Use specific examples that highlight your ability to balance compliance with business growth.
✨Tip Number 4
Research StudySmarter's current compliance practices and any recent news related to their operations. This knowledge will allow you to tailor your conversations and show genuine interest in how you can contribute to their compliance objectives.
We think you need these skills to ace Head of Compliance
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your previous experience in compliance roles, especially within the insurance industry. Emphasise your knowledge of the FCA Handbook and any relevant regulatory frameworks.
Craft a Compelling Cover Letter: In your cover letter, explain why you are the ideal candidate for the Head of Compliance position. Discuss your strategic development skills and how you've successfully led compliance teams in the past.
Showcase Relevant Achievements: Include specific examples of how you've developed compliance plans or improved compliance monitoring frameworks. Quantify your achievements where possible to demonstrate your impact.
Prepare for Potential Questions: Anticipate questions related to your experience with the Senior Manager & Certification Regime and your approach to risk mitigation. Be ready to discuss how you can support business stability while ensuring compliance.
How to prepare for a job interview at MERJE
✨Know Your Compliance Regulations
Make sure you have a solid understanding of the FCA Handbook and its key components, such as PRIN, SUP, SYSC, ICOBS, and DISP. Be prepared to discuss how these regulations apply to the insurance industry and how you've implemented them in previous roles.
✨Demonstrate Leadership Skills
As a Head of Compliance, you'll need to lead a team effectively. Share examples of how you've structured and developed compliance teams in the past, focusing on achieving best-in-class standards and fostering a culture of compliance within the organisation.
✨Showcase Your Strategic Thinking
Be ready to discuss your approach to developing an annual compliance plan and how you would direct compliance activities. Highlight any experience you have in strategic development and performance management, particularly in relation to regulatory activities.
✨Prepare for Scenario-Based Questions
Expect questions that assess your ability to handle complex compliance issues. Prepare scenarios where you've had to challenge assumptions or implement risk mitigation strategies, and be ready to explain your thought process and the outcomes.
