Compliance Analyst - BFL General Advisory

Beazley; Birmingham; On-site; GBP 40,000 - 55,000; Full time

Job summary

A leading insurance firm in Birmingham is looking for a Compliance Analyst to join their General Advisory team. The role involves providing compliance and regulatory advice to executive teams and managing relationships with various stakeholders. Ideal candidates should have experience in the Lloyd's market, possess excellent communication skills, and demonstrate strong organizational abilities. This position requires a proactive approach to keep abreast of regulatory changes and assist in implementing compliance measures.

Qualifications

• Insurance experience with Lloyd's market knowledge preferred.
• Demonstrated ability to build positive relationships with stakeholders.
• Ability to detect areas of improvement in current compliance processes.

Responsibilities

• Provide compliance and regulatory advice to BFL executive and functions.
• Keep abreast of key regulatory and legislative changes.
• Assist in developing and implementing compliance measures.

Skills

Excellent oral and written communication skills

Ability to challenge and influence stakeholders

Research skills

Organizational skills

Analytical thinking

Job description

Job Title

Compliance Analyst: BFL General Advisory

Reports To

As per Beazley's organisation chart

Key Relationships

Group Head of Compliance, BFL Senior Compliance Officers – General Advisory and Regulatory Affairs, Global Compliance advisory team, 2nd Line Assurance, Underwriters, Finance, Financial Crime team, DPO, Internal Audit, Culture and People, Risk Management, local regulatory authorities, outside legal counsel, Corporate Development and other internal stakeholders.

Job Summary

Provide compliance/regulatory advice to the Beazley Furlonge Limited (BFL) executive and functions including BFL’s overseas offices (Canada, Labuan, Singapore, US). As a Compliance Analyst in the BFL General Advisory team, you are expected to work on compliance matters that impact BFL, including through their overseas businesses, from a strategic and regulatory standpoint. You will be expected to develop your understanding of UK and international compliance, which includes a focus on licensing and regulated activity; this will be overseen by the Manager of the BFL General Advisory team working closely with the Heads of Compliance for relevant jurisdictions and the Head of Global Programmes.

Key Responsibilities

Individual

Responsibilities will include, but are not limited to:

Regulatory and Compliance

• Keep abreast of key regulatory and legislative changes which may impact Beazley’s Lloyd’s Managing Agency (BFL) by performing horizon scanning/research (and an in some cases an impact analysis) using available Beazley tools and external providers.
• Provide support to the business regarding regulatory concerns with emphasis on (re)insurance licensing and regulated activity.
• Provide support on audit and assurance reviews.
• Assist the BFL General Advisory team with providing advice on strategic projects, including those with an international focus.
• Assist in the business partnering for the product line or distribution area of BFL’s underwriting team assigned to you by the BFL General Advisory Compliance Manager.
• Contribute to the annual BFL compliance plan, as part of the wider Compliance function annual plan.
• Assist governance oversight of breaches and how breaches are managed from a compliance standpoint.

Embedding compliance culture within Beazley

• Provide compliance advice to BFL’s businesses.
• Develop an understanding of Beazley’s operations, customers and plans, and assist in developing and implementing various measures necessary for embedding compliance throughout Beazley. This includes creating and conducting training and drafting bulletins and communications.
• Support the training of BFL Underwriting and claims staff on UK and Lloyd’s topics.

Compliance team

• Support the BFL General Advisory team and the BFL business with applicable regulatory knowledge and expertise.
• Develop an understanding of UK and relevant international compliance matters and provide advice to the BFL business on relevant transactions including distribution initiatives.
• Effectively build partnerships with internal ‘customers’. Maintain a close working relationship with the business.
• Following the business’s implementation of regulatory advice, work with assurance functions on the applicability of new guidance.
• Provide excellent and timely customer service to the internal business.

General

It is important that within all your interactions both internally and externally you adhere Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:

• Comply with Beazley procedures, policies and regulations including the code of conduct
• Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system
• Display business ethics that uphold the interests of all our customers
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups

Personal Specification

Essential Criteria

• Insurance experience with Lloyd’s market knowledge preferred.
• Keen understanding of 2nd line oversight principles.
• Compliance experience and understanding of fundamental compliance concepts.

Skills and Abilities

• Excellent oral and written communication skills.
• Demonstrated ability to build positive relationships with a wide range of stakeholders.
• Ability to challenge, negotiate with, influence and persuade stakeholders.
• Good research skills.
• An understanding of the compliance concepts and the three lines of defence.
• Ability to detect areas of improvement in current compliance processes.
• Ability to determine, understand and analyse regulatory requirements and their impact on insurance.
• Organisational skills and ability to work on multiple tasks.
• Ability to work with and report to a global team.
• Ability to investigate efficiencies and seek automation where applicable.

Knowledge and Experience

• Insurance experience in company market is desired.
• Experience working in an international team.
• An interest in working on global distribution initiatives.

Aptitude and Disposition

• Flexible
• Energetic, enthusiastic and positive
• Self‑motivated
• Collaborative, team player
• Firm but diplomatic
• Friendly and approachable
• Service focused.
• Solutions focused.

Competencies

• Team working
• Detail oriented with ability to retain sight of the bigger picture
• Effective communicator, especially in writing
• Analytical thinking
• Problem Solver
• Inquisitive