Compliance Officer

1 month ago

Newcastle upon Tyne, United Kingdom Ecclesiastical Insurance Group Full time

Working hours: 35 hours per week, Monday to Friday

Duration: Permanent  

Location: Newcastle (office based initially before moving to hybrid working of 3 days a week in the office) 

About the role

Lycetts Insurance Brokers, who are proudly part of Benefact Group, are looking for a Compliance Officer to join our Newcastle office. 

As a Compliance Officer, you will play a crucial role in assisting the Compliance Manager in oversight and monitoring of Compliance policies and procedures within the Lycetts Group. 

Joining our rapidly expanding andinnovative Group presents a fantastic opportunity to develop your career andbecome an integral part of an inclusive, purpose-led organisation.

Key responsibilities
  • Support Business Supervisors in respect of the T&C Scheme actions required of them
  • ‘Review the reviewer’ checks to ensure consistent application of standards and fairness
  • Monitoring completion of any follow up actions identified by file reviews;
  • Provide coaching and support to the Business Supervisors regarding the file review requirement, addressing any identified training needs, and remedial action required.
  • Work with Business Supervisors to ensure the file review process provides evidence of competence, quality, and treating customers fairly.
  • Review Terms of Business Agreements and make recommendations to the Directors regarding the suitability of the contract terms;
  • Liaise with Finance and IT to ensure the Insurer / Sub-broker / Introducer is set up correctly in the systems and that we can comply with any settlement terms etc.;
  • Conduct annual Due Diligence on Insurers / Sub-brokers / Introducers / Appointed Representatives (where this is not provided by the REG platform) and maintain records of such activity.
  • Maintain records of Insurer agreements, Binding Authorities held, the parameters and limits of those agreements, and those staff authorised to bind.
  • Support audits conducted by Insurers or in respect of Binding Agreement, and ensure that any actions required are communicated and completed.
  • Ensure Atlas is up to date and accurate.
  • Handling of Complaints, ‘Ex Gratia’ payment approval and tracking, Financial Promotions approvals, CII examination entry and membership renewals, and other matters when the Compliance Manager is absent.
  • Maintaining and communicating staff ‘RAG’ data to the Compliance Manager, senior managers and Business Supervisors.
  • Provide feedback to the Compliance Manager about issues, and any regulatory breaches, identified in the work review process;
  • Make suggestions for process improvements, ‘best practice’ and ‘lessons learned’.
Knowledge, skills and experience
  • Demonstrate good communication skills [written and verbal] that are effective and meet business needs
  • Prioritise and organise own workload
  • Understand how the insurance market works
  • Show a thorough knowledge of all relevant legislation and regulatory requirements
  • Be familiar with the FCA regulations as they apply to retail and commercial clients particularly concerning Advising and Selling standards, Renewals, Product Disclosure, Cancellation, Complaints Handling, Client Money and Record Keeping;
  • Understand where the Data Protection legislation affects the processes of the business
What we offer
  • Hybrid working available upon successful completion of probation
  • Employer pension contribution of 5% rising to 10% after 5 years membership of the pension scheme
  • Annual Bonus scheme (Discretionary based on individual and company performance)
  • Life Assurance cover up to 4 x salary
  • 25 days annual leave plus bank holidays (rising to 26 and 27 for 5 and 10 years’ service respectively)
  • Career development opportunities with funded support and financial incentives for all professional qualifications.
About us

The Lycetts group has over 60 years’ experience of providing a comprehensive range of insurance, risk management and financial advice to a broad cross section of commercial and private clients. We are a unique chartered insurance broking and financial services organisation, which strives to be a trusted adviser to our clients and are proud to be part of the Benefact Group, which in turn is owned by a registered charity, Benefact Trust. We are a financially secure, professional and award-winning organisation. We pride ourselves in donating a significant proportion of our profits to good causes. To find out more about us and our fantastic achievements please visit www.lycetts.co.uk.  

Benefact Group is a unique international financial services Group made up of over 30 businesses. We are owned by a charity and are currently the UK’s 3rd largest corporate donor, having given away £200 million since 2016. We have ambitious plans to become the UK’s number one corporate donor, with strategic objectives in place to double the Group’s size.

We believe it’s essential to attract, empower, grow and reward talented people, offering fantastic opportunities for career and personal development. Our giving ethos, 135-year history and the diversity of what we do, has enabled us to build a culture of kindness, great ambition, and of passionate people driven to do better and be better.

At Benefact Group, we are committed to creating aninclusive culture and building an environment where each and every one of usfeels valued and respected. We are a community made up of people with arange of different backgrounds, abilities, perspectives, beliefs and interestsand we value the strength this brings to us as a Group. We welcome applicationsfrom everyone.

If you need any additional support during therecruitment process, then please let us know.

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