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- Regulatory Oversight/Interaction:
- Develop and oversee the compliance strategy to ensure adherence to Lloyd’s of London regulations, the Prudential Regulation Authority (PRA), Financial Conduct Authority (FCA) rules, and other applicable regulatory bodies.
- Monitor developments in insurance regulations, ensuring the business is aware of and complies with emerging regulatory requirements.
- Act as the primary point of contact for regulatory bodies and industry organisations, fostering strong working relationships with regulators.
- Compliance Framework & Policy Development:
- Design, implement, and update a comprehensive compliance framework tailored to the specific needs of a growing Managing Agency.
- Draft and enforce compliance policies and procedures, ensuring they are aligned with the company’s strategic goals and regulatory requirements.
- Provide guidance and training to senior leadership and staff on key compliance issues, enhancing the overall compliance culture.
- Governance & Ethical Standards:
- Promote and uphold a high standard of corporate governance and ethical conduct within the organisation.
- Advise on the implementation of appropriate governance structures and processes to support the long-term growth of the business.
- Ensure the company’s culture, business practices, and interactions with stakeholders align with the highest ethical standards.
- Regulatory interactions & Stakeholder Engagement:
- Work closely with other departments, including Underwriting, Claims, Finance, Legal, and Operations, to ensure a unified approach to compliance.
- Support business development initiatives by providing compliance expertise and ensuring new business practices comply with regulatory requirements.
- Represent the company at industry forums and events, showcasing the company’s commitment to regulatory excellence.
- Minimum of 8-10 years of experience in compliance within the insurance industry, with a strong understanding of the Lloyd’s of London regulatory framework.
- Proven track record in leading compliance functions, preferably within Insurance.
- Experience working with UK regulators, including the FCA and PRA
- In-depth knowledge of insurance regulation and compliance frameworks specific to Lloyd’s
- Strong leadership skills with experience managing and developing a compliance team.
- Excellent interpersonal and communication skills, with the ability to engage with stakeholders at all levels, including senior management and external regulators.
- The ability to influence decision-making at the Board level, providing strategic insights on compliance matters.
- Strong analytical skills, with the ability to interpret complex regulatory requirements and apply them effectively within a growing business context.
- Strategic thinker with a hands-on approach.
- Strong commercial acumen with the ability to balance regulatory requirements and business growth.
- Highly organised, with a detail-oriented mindset and the ability to manage multiple projects simultaneously.
