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Compliance Advisor

Flexibility: 3 full days a week or split over 5 - open to flexibility.

Location: London

Pay: £40-£45k FTE

Ref: JN -062019-3113

Our client is one of the world’s largest general insurers with over 700 offices worldwide. Working in the UK office with a staff of circa 50, they are currently seeking a Compliance Advisor to provide regulatory and compliance advice and guidance across all areas of the business. This role will report directly into the Head of Compliance and Company Secretarial.

Regulatory compliance

  • Review the PRA website on a regular basis and study all relevant Consultation Papers, Policy Statements and Briefing Notes.  Discuss these with the Head of Compliance to determine relevance and further actions.
  • Produce a monthly compliance briefing for the MSIEU management team.
  • Review and update the Responsibilities map on a quarterly basis with input from HR and the Head of Compliance.
  • Co-ordinate all applications for SMR positions and submit the paperwork to the PRA. Project work

Compliance monitoring

  • Review operational policies and procedures.
  • Conduct critical outsourcing reviews.
  • Update compliance policies and procedures.

Compliance reporting

  • Conduct GABRIEL/ Reporting 4 times per year.
  • Prepare and submit regulatory applications via Connect 
  • Conduct Risk monitoring and exceptional reporting.
  • Ensure licences are maintained and status checked (including GAUM and DUAA).
  • Complaints monitoring – first point of contact for internal complaints. Escalate as appropriate. Monthly reporting to Head Office.
  • Maintain the Gifts & Hospitality register

Financial sanctions

  • Prepare reports to relevant committees and the Board where required
  • Review sanctions queries received from Underwriters/ Account Executives and discuss and escalate with Head of Compliance as required.

Project work

  • This role will include ad hoc project work. Currently the projects include:
    • A review of DSAR
    • Financial Sanctions project – update on current state and propose recommendations for future sanctions checking tool
    • TOBA – Develop a two year plan for updating TOBA’s

Flexibility: This is a part time role working 21 hours per week.
Location: The role will be based in London.

Candidate Requirements:
Minimum of 3 years’ experience working in a compliance department
Experience and knowledge of regulatory environment, preferably within insurance or financial services
Numerate and good IT skills
Strong communication skills, with the ability to work with people of all levels
Ability to build and maintain strong relations across departments
Ability to work under pressure and assist others when required
Degree level or equivalent