Head of Compliance

3 weeks ago

London, United Kingdom Lloyd's Full time

Lloyd’s is the world’s leading insurance andreinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds, working together for a braver world.

Our role is to inspire courage, so tomorrow’s progress isn’t limited by today’s risks. 

Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s – build a braver future with us.

Lloyd’s is seeking to recruit Head of Compliance & Financial Crime for the Lloyd’s Insurance Company UK Branch you will be supporting the Head of the UK Branch, the UK Branch Management Committee and LIC Chief Compliance Officer in ensuring that LIC in general, and its UK Branch in particular, has effective systems and controls for compliance, with requirements and standards under applicable regulations (including outsourcing arrangements, data protection measures), and for countering the risk that LIC might be used to further financial crime (e.g. sanction, anti-money laundering, prevention of fraud, market abuse and tax evasion).

Principal Accountabilities

Support the development, delivery and implementation of LIC UK Branch Compliance Framework for the management and mitigation of compliance risk.

Support in delivering on the Compliance plan as yearly approved by LIC Board of Directors.

Take ownership as required in the development of policies to address applicable regulatory requirements.

Act as a centre of expertise in sharing knowledge of requirements and compliance risk and, where appropriate, delivering appropriate training to management and staff.

Monitor the company’s adherence to policies to provide assurance that Company is compliant with Solvency II, Belgian, EU and UK regulations.

Conduct compliance reviews, monitoring and testing to assess whether Company policies have been appropriately implemented and compliance risk managed to an effective level.

Work in partnership with Lloyd’s colleagues to ensure compliance in the UK branch office.

Identify, monitor, assess and manage compliance risks and requirements including, for example, with respect to external reporting, outsourcing and of GDPR.

Handle day-to-day compliance queries relating to the UK Branch, which may emanate from the PRA, the FCA, the NBB, the FSMA or any other relevant regulators with respect to Conduct of Business Rules, Money Laundering, Sanctions, Complaints, and Training and Competence.

Undertake the monitoring and analysis of current regulatory requirements and applying them appropriately to the business.

Support the LIC Chief Compliance Officer in his oversight, challenge, advice, escalation and reporting activities with a primary focus on compliance matters relating to the LIC UK Branch, liaising with other colleagues working in independent functions and with Managers and team members in the 1stLoD.

Promote and engender a strong compliance culture throughout the organisation through the drafting of Compliance Communications and updates.

Skills Knowledge

Knowledge of UK regulatory environment, Solvency II regulatory environment, regimes and requirements

Knowledge of UK Data Protection and GDPR requirements

Insurance market knowledge, with focus on non-life business and large/corporate risks

Knowledge of financial and business processes in the insurance industry

Knowledge of corporate governance principles and structures

Has relevant experience of working in the non-life insurance industry in a role that involved ensuring compliance with relevant UK, Belgian or EU regulatory requirements

Has good market awareness and industry knowledge

Is an analytical, strategic thinker, with good reasoning and hands-on experience in problem solving

Has well developed management and organisational skills, able to work with teams across multiple business areas and geographies.

Influencing & negotiating skills across industry and profession

Functional strategy development and influencing skills

Complex business/regulatory issue or problem analysis and resolution skills

Driving change and innovation skills

Ability to lead projects and initiatives •Ability to work in a multi-cultural environment

Investigative capabilities

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