Compliance Analyst

Munich Re; Greater Manchester; On-site; GBP 35,000 - 50,000; Full time

Job summary

A leading specialty insurance provider in Manchester is seeking a Compliance Analyst to join their team. In this role, you will assist in ensuring compliance with regulatory standards while working closely with various stakeholders. The ideal candidate will have strong knowledge of FCA conduct regulations and experience in a regulatory compliance function. This position offers a dynamic work environment focused on collaboration and integrity.

Qualifications

• Strong knowledge and experience of FCA conduct regulations, such as Appointed Representative Regime.
• Ability to provide practical context for regulatory requirements.
• Proactive and personable approach with strong relationship-building skills.

Responsibilities

• Provide compliance advice and business solutions across the organization.
• Support the Compliance Manager in overseeing Appointed Representatives.
• Promote compliance culture within the organization.

Skills

Knowledge of FCA conduct regulations

Ability to identify regulatory requirements

Solution oriented mentality

Experience in regulatory compliance

Strong interpersonal skills

Job description

At Munich Re Specialty - Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

Compliance Analyst

We are looking for a Compliance Analyst to join our Manchester team on a full time basis.

As a member of the MRSG Compliance Department, you will assist in making appropriate arrangements for compliance activities throughout the organisation to meet Solvency II, FCA, PRA, Lloyd's and other applicable regulatory standards.

You will support the Compliance Managers in providing Compliance oversight, support and challenge to MRSG Appointed Representatives, and other key third parties, working with subject matter experts within the Risk & Compliance function as appropriate.

Responsibilities

The Compliance Analyst will be required to effectively partner with all levels of the organisation to provide compliance advice and business solutions in a variety of areas, including:

• Support the Compliance Manager (Third party oversight) in ensuring effective second line oversight of any Appointed Representatives, Introducers and Introducer ARs
• Help to identify, and mitigate exposure to regulatory risk, this will include notifying and reporting and evaluating their impact on partners.
• Work collaboratively with the Compliance Manager, the business, Legal Risk and Compliance team members to ensure the best outcomes to resolve issues are implemented.
• Assisting in drafting, implementing and reviewing of frameworks, policies and procedures.
• Actively promote a compliance culture internally and externally when interacting with third parties/stakeholders
• Ongoing support to the first line of defence and key third parties regarding compliance obligations
• Supporting the wider team in running the compliance strategy
• To assist with the delivery of Compliance and business led projects and other ad hoc requirements as and when needed to assist the Compliance team.
• Work closely with key functions, such as Delegated Authorities, Underwriting, Claims and Complaints teams to ensure ongoing compliance.
• Provide advice to marketing teams on financial promotions
• Assist in preparing MI and reports to Senior Managers where necessary
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
• Keep up to date with regulatory changes pertinent to the business and enforced by the FCA or other regulatory bodies
• Along with the Compliance Manager and Conduct Risk team provide regular monitoring of conduct MI from third parties to identify conduct risks and undertake customer outcomes assessments and propose mitigating actions.
• Understand all appropriate lines of escalation and the responsibilities of the various committees, forums, ExCo and Board for Conduct Risk.
• To carry out compliance monitoring reviews as required.

Knowledge and Skills

• Strong knowledge and experience of FCA conduct regulations, specifically Appointed Representative Regime, Consumer Duty, ICOBS, PROD 4, DISP, etc.
• A good understanding of the current regulatory environment
• Ability to identify regulatory and compliance requirements, provide practical context and support their implementation
• Solution orientated mentality, with reputation for acting with integrity and ethical decision-making
• Proactive, personable approach with the ability to build relationships to implement change
• Experience within a regulatory compliance function

If you are excited about this role but your experience does not align perfectly with everything outlined, or you don't meet every requirement, we encourage you to apply anyway. You might just be the candidate we are looking for!

Diversity, Equity & Inclusion

At Munich Re, Diversity, Equity, and Inclusion foster innovation and resilience and enable us to act braver and better. Embracing the power of DEI is at the core of who we are. We recognise diversity can be multi-dimensional, intersectional, and complex, so we want to build a diverse workforce that includes a wide range of racial, ethnic, sexual, and gender identities; economic and geographic backgrounds; physical abilities; ages; life, school, and career experiences; and political, religious, and personal beliefs. Additionally, we are committed to building an equitable and inclusive work environment where this diversity is celebrated, valued, and has equitable opportunities to succeed.

All candidates in consideration for any role can request a reasonable adjustment at any point in our recruitment process. You can request an adjustment by speaking to your Talent Acquisition contact.

Munich Re Specialty - Global Markets is committed to sustainability and strives to deliver holistic impacts across environmental, social and governance topics.