Customer Outcomes - Conduct Risk Officer (Line 2), London

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Client:

Starr Insurance Companies

Location:

London, United Kingdom

Job Category:

Customer Service

EU work permit required:

Yes

Job Reference:

1318fc627e12

Job Views:

88

Posted:

22.01.2025

Expiry Date:

08.03.2025

Job Description:

Starr Insurance Companies is a leading insurance and investment organization, providing commercial property and casualty insurance, including travel and accident coverage, to almost every imaginable business and industry in virtually every part of the world.

Cornelius Vander Starr established his first insurance company in Shanghai, China in 1919. Today, we are one of the world’s fastest growing insurance organizations, capable of writing in 128 countries on 6 continents.

Roles and Responsibilities

• Act as the Conduct SME providing conduct advice and guidance to Starr entities.
• Ensure the continued enhancement and implementation of the Customer Outcomes Framework.
• Co-ordinate and prepare the completion of Customer Outcomes and Conduct Risk MI packs for submission at the Delegated Authority Operations Group.
• Maintain Customer Outcome and Conduct Risk KRI’s.
• Identify, set and maintain Customer Outcomes risk controls across Starr entities.
• Develop & maintain appropriate oversight through analysis of Customer Outcomes information for both the wider company and areas of the business with heightened Conduct Risk.
• Carry out monitoring and oversight of conduct exposed delegated authority arrangements.
• Provide conduct related training and communications to the business as required.

Product Governance

• Provide guidance on new products, proposition, services, and other initiatives to ensure the delivery of good customer outcomes, and appropriate risk mitigation in line with Starr’s Customer Outcomes risk appetite.
• Complete annual Line 2 review of products including a review of the product fair value assessment.
• Undertake Line 2 review of policy wordings and associated customer documentation.
• Regularly attend the Product Oversight Group.
• Maintain and oversee the completion of product reviews and prepare monthly report to Product Oversight Group outlining key developments, overdue product reviews and conclusions on completed product reviews.
• Support and advise product owners through the product approval process.
• Provide product governance related training and communications to the business as required.
• Manage complaints received direct from receipt to resolution.
• Oversee third party (Coverholder and DCA) complaint handling performance and review final response letters as required.
• Co-ordinate and prepare regulatory complaints returns (e.g. Lloyd’s eligible complainant return and FCA RMAR).
• Review proposed complaint clause language with third party agreements including delegated authorities.
• Prepare monthly complaints report to Claims Committee.
• Provide complaints related training and communications to the business as required.
• Maintain up-to-date knowledge of relevant conduct, PROD, DISP, Lloyd’s Customer Outcome regulatory requirements and developments, sharing knowledge within Starr as required.
• Support and prepare Customer Outcomes reports and MI to the Board, Risk Committee, Conduct Committee and Product Oversight Group.
• Assist with the delivery of face to face Compliance Induction training to new joiners.
• Support and deputise for the Head of Compliance as required.
• Support the Compliance Team in the delivery of the annual Compliance Plan.

Experience

• Conduct, product governance and complaint handling experience required;
• Strong understanding and practical application experience of FCA ICOBS, PROD and DISP rules;
• Experience of interpreting and applying regulatory rules to practical scenarios and helping to devise compliant, commercially acceptable solutions;
• Strong experience of implementing and driving processes to achieve desired outcomes;
• Experience of delegated authority business and an understanding of the Lloyd’s market an advantage;
• Experience with managing conduct and complaint related regulatory returns an advantage.

Skills

• Excellent communication skills both written and oral;
• Strong interpersonal skills;
• Excellent planning and organisational skills;
• Conscientious and attention to detail;
• Professional business writing and presentation skills;
• Judgement and decision making;
• Ability to act with due professional care, demonstrating sound integrity and confidentiality;
• Analytical thinking – explores and understands trends, opportunities and risks that could affect the business.

Systems & I.T

• MS Office – Excel, Word, PowerPoint, and Outlook;
• Adaptability of working with various business and reporting tools.

Starr is an equal opportunity employer, which means we’ll consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we’re committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.

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