Job Description
Main purpose of role:
- To provide focused and effective support to the business in respect of regulatory and governance issues
- To implement and maintain appropriate internal procedures to manage regulatory risk within risk appetite namely compliance monitoring, sanctions & financial crime, regulatory change management and regulatory training
- To assist the Legal and Regulatory Manager
Responsibilities
Purpose:
- To provide focused and effective support to the business in respect of regulatory and governance issues
- To implement and maintain appropriate internal procedures to manage regulatory risk within risk appetite namely compliance monitoring, sanctions & financial crime, regulatory change management and regulatory training
- To assist the Legal and Regulatory Manager
Accountabilities:
- To assist with the regulatory change management framework including horizon scanning. Anticipate future regulatory developments, draft/issue appropriate updates to the business and provide prompt services to organization employees in respect of appropriate regulatory enquiries.
- To own the different compliance due diligence processes for the organization and document approach accordingly.
- Own and manage the Lloyd’s Business Timetable process including monitoring and chasing the organization for updates regarding timely submissions of returns.
- To assist with the sanctions and financial crime framework including risk due diligence and pre/post-bind screening processes.
- To maintain and execute the regulatory training strategy including standard periodic organization training along with specific regulatory training requirements and compliance induction training.
- To assist with the organization’s formal Compliance Monitoring Programme (“CMP”). To update the CMP as required and ensure all relevant compliance testing and file reviews are taking place as required.
- To deliver advice and guidance, projects or training as required to support the business i.e. Market Bulletins, Lloyd’s Business Timetable, Sanctions etc.
- Oversight of compliance registers and logs (conflicts of interest, gifts & entertainment, training, sanctions referrals etc.) with a view to producing Management Information (MI) for the quarterly compliance MI report.
Qualifications & Experience:
- Educated to degree level or equivalent
- Progress towards a relevant professional qualification would be an advantage
- Appropriate professional post-graduate qualification (governance, legal etc.)
- Ideally 1-3 years’ experience within the Lloyd’s of London compliance environment
- Thorough understanding of PRA and FCA requirements required
Qualifications
- Bachelor’s degree in risk management, Business, Communications (or related field) or commensurate experience.
- 4+ years of insurance industry experience in any compliance area, which may include commercial or personal underwriting, claims, policy processing or product management.
- Current knowledge of insurance laws, statutes and regulations gained through work experience.
- Experience analyzing problems and developing recommendations.
- Excellent oral, written and interpersonal skills resulting in the ability to:
- Deliver messages in a clear, compelling, and concise manner.
- Articulate messages in a way that is broadly understandable.
- Adjust communication content and style to meet need of diverse audience.
- Actively listen and checks for understanding.
#WSPI
Required Skills
Analytical
Data Analysis
Office Administration
Record Keeping
Regulatory Compliance
Stakeholder Management
EQUAL OPPORTUNITY EMPLOYER
United States: Westfield celebrates diversity and is committed to inclusion. All qualified applicants receive consideration for employment without regard to race, color, sex, religion, national origin, age, sexual orientation, gender identity, disability, or status as a protected veteran.
United Kingdom: Westfield is committed to equality of opportunity for all staff and applications from individuals are encouraged regardless of age, disability, sex, gender reassignment, sexual orientation, pregnancy and maternity, race, religion or belief and marriage and civil partnerships.
