Senior Conduct Risk Analyst

2 weeks ago


London, Greater London, United Kingdom Munich Re Specialty Group Full time

At Munich Re Specialty Group, we're committed to excellence and quality of service provision across both primary and reinsurance. Our Compliance team is a key driver for our success and innovation, leveraging a variety of perspectives and backgrounds to empower all employees to make an impact.

About us

We're part of the Munich RE group, known for our dedication to excellence and quality of service provision. We operate in the Lloyd's of London market and conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan and Dubai.

Our group of companies provides solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.

Senior Conduct Risk Analyst

Sitting within Compliance, you'll support the Conduct Risk Team to enable MRSG entities to demonstrate compliance with the FCA, Lloyd's, LIC and other relevant regulatory requirements.

Responsibilities

  • Proactively support the development and implementation of the Consumer Duty and product governance processes across all MRSG entities.
  • Contribute to product governance processes by carrying out product reviews and fair value assessments, including reviews of associated customer communications and services. Provide feedback on identified customer outcome and regulatory risks and propose mitigation actions.
  • Support the continuous development and maintenance of the product catalogue for MRSG regulated entities, working alongside the DUA team to obtain and update key product information and policy wordings from business stakeholders.
  • Oversee the product catalogue and product risk calculator to ensure that all relevant product reviews and fair value assessments are completed in a timely and compliant manner.
  • Support Delegated Authority oversight processes ensuring that conduct risks are appropriately identified and mitigated. This includes contributing to the take-on and ongoing due diligence and audit of delegated third parties (e.g. coverholders, DCAs, ARs).
  • Collate and review conduct MI to identify any actual or potential customer harm/ poor outcomes. Undertake customer outcomes assessments and propose mitigating actions.
  • Support governance reporting by drafting regular Conduct Risk updates for key conduct oversight committees.
  • Advise the business on the interpretation and practical application of conduct risk policies and procedures, and relevant regulatory requirements;
  • Carry out horizon scanning to identify new/changing regulatory requirements. Work with Conduct Risk and the wider Compliance team and business stakeholders to assess their impact on the business and provide advisory and oversight support over implementation;
  • Provide advisory and oversight support on business projects and initiatives as required;
  • Draft and support the delivery of training on Consumer Duty / conduct risk topics for all relevant employees;
  • Support the Conduct Risk team in the ongoing development and maintenance of the Consumer Duty/Conduct Risk Framework, associated policies and procedures, ensuring they are reviewed annually and remain up to date; and
  • Assist the business with conduct risk related queries with escalations to the Conduct Risk Manager or other functions as necessary.
  • Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
  • Understand all appropriate lines of escalation and the responsibilities of the Product Conduct Risk Strategy Group (PCRSG), Underwriting & Claims Sub Committee (UCSC) , ExCo and Board for Conduct Risk.

Knowledge and Skills

  • FCA / Conduct risk and Consumer Duty knowledge and experience
  • Lloyd's market knowledge
  • Effective communication skills at all levels
  • Ability to identify regulatory and compliance requirements and implement them in the business
  • Proactive, personable approach with the ability to build relationships to implement change

Your career with us

At MRSG, you'll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more



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