About the Company
Our client is a leading, global reinsurer is seeking an impactful Compliance Manager to join their dynamic Legal, Regulatory & Compliance team. This role is crucial in supporting the UK Syndicate’s operational compliance across a wide range of regulatory disciplines, with a specific focus on delegated underwriting arrangements. You’ll work closely with key business units-Underwriting, Claims, and the Delegated Underwriting Solutions Team (DUST)-to ensure the business adheres to all relevant PRA, FCA, and Lloyd’s standards. Reporting to the VP, Senior Compliance Manager, you’ll be instrumental in developing and maintaining a robust compliance framework.
About the Role
This role is crucial in supporting the UK Syndicate’s operational compliance across a wide range of regulatory disciplines, with a specific focus on delegated underwriting arrangements.
Responsibilities
- Delegated Authority Expertise: Act as the primary Compliance contact for the DUST team, managing complex queries and referrals related to binding authorities and delegated claims administrators (DCAs).
- Financial Crime Lead: Provide specialist guidance and support on financial crime and sanctions compliance across the business.
- Risk Management: Oversee compliance requirements for conduct risk, complaints handling, and licensing within delegated arrangements.
- Regulatory Reporting: Oversee controls for the timely and accurate submission of regulatory returns to the PRA, FCA, and Lloyd’s.
- Policy, Governance & Assurance Policy Management: Lead the annual Policy refresh process and deliver essential compliance training, including key policies like the Underwriting Controls Policy.
- Monitoring & Implementation: Monitor new legal and regulatory developments and drive the implementation of changes into the business’s operating framework.
- Product Governance: Serve as Secretary to the Product Oversight Group (Customer Review Committee), managing all related papers and minutes.
- Assurance: Assist the Senior Compliance Manager with the Principles for Doing Business at Lloyd’s attestation and help design and perform testing on key risks and controls.
Qualifications
- Proven Compliance Experience: Strong, relevant experience operating within a Compliance team at a Lloyd’s Managing Agent or a UK Insurer.
- Regulatory Mastery: Strong knowledge and practical experience with Lloyd’s and FCA requirements (including Solvency II controls).
- Delegated Authority Knowledge: Good working knowledge and experience with binding authorities and the associated compliance requirements.
- Financial Crime Expertise: Solid understanding of financial crime and sanctions requirements applicable to Lloyd’s Managing Agents.
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