Head of Compliance Business Partners

Somerset Bridge Group; Bristol; Hybrid; GBP 70,000 - 90,000; Full time

Job summary

A dynamic insurance provider in Bristol is seeking a Head of Compliance Business Partners to lead compliance efforts and drive regulatory oversight. The ideal candidate has significant experience in FCA regulated environments and excellent stakeholder communication skills. Responsibilities include managing compliance projects, fostering key relationships, and developing compliance policies. This role offers hybrid work options along with generous benefits, including a discretionary bonus and healthcare plans.

Benefits

Hybrid working

Generous annual leave

Discretionary bonus

Pension scheme

Flexible working options

Healthcare plans

Various discounts and wellness schemes

Qualifications

• Significant experience in FCA regulated financial services, ideally in General Insurance.
• Comprehensive knowledge of FCA rules and the ability to translate these into deliverables.
• Strong analytical skills with the ability to manage conduct-related risks.

Responsibilities

• Implement and manage the Compliance Advisory Framework.
• Build and manage relationships with business stakeholders.
• Drive compliance standards and promote awareness within the organization.
• Lead a team of compliance professionals and manage prioritization of work.
• Coordinate with control functions for a 'three lines of defence' approach.
• Monitor regulatory developments and update governance structures.
• Create, maintain, and distribute management information.
• Lead on regulatory change identification and implementation.
• Support business areas in managing conduct-related risks.
• Contribute to the development of compliance policies.
• Identify and escalate risks to mitigate future issues.

Skills

Compliance project management

Stakeholder communication

Leadership skills

Analytical and problem-solving

Education

Compliance Industry Diploma

Job description

We are recruiting for a Head of Compliance Business Partners to join our Group Compliance & Risk function. The purpose of this role is to lead and manage second line compliance advisory activity within Somerset Bridge Group. This position supports ensuring that SBG adheres to FCA (and other relevant) regulatory requirements, maintaining the company's integrity and fostering a culture of compliance. The role promotes the importance of regulatory compliance and risk management, providing assurance to Senior Management and the Governing Body.

The Head of Compliance Business Partners will drive the compliance function, establish a strong framework of regulatory oversight, and support the Chief Compliance and Risk Officer in maintaining relationships with regulators. This role is pivotal in safeguarding the company's reputation and ensuring that all business activities are conducted ethically and in compliance with applicable laws and regulations.

Responsibilities include:

1. Deliver and Implement Compliance Advisory Framework: Responsible for the delivery and ongoing implementation of the business partner framework, ensuring oversight of the Somerset Bridge Group of companies' compliance with FCA and other relevant regulatory requirements in a consistent and effective manner.
2. Build and Manage Relationships: Develop and manage effective and collaborative relationships with key business stakeholders to provide good compliance advice and support.
3. Drive Compliance Standards: Promote and drive minimum standards in compliance for the organisation by enabling management awareness and contributing to internal compliance training.
4. Lead Compliance Team: Lead and steer a team of compliance professionals, ensuring that work is correctly prioritised and carried out effectively and to high standards.
5. Coordinate with Control Functions: Liaise with internal audit, assurance, and risk areas to ensure a coordinated approach within a 'three lines of defence' model.
6. Monitor Regulatory Developments: Keep abreast of FCA regulatory developments and consultations, ensuring good awareness across business areas and governance structures.
7. Create and Distribute Management Information: Create, maintain, and distribute high-quality management information and support the Chief Compliance and Risk Officer in measuring the effectiveness of the compliance function.
8. Identify and Support Regulatory Changes: Lead on regulatory change identification and support implementation work led by business areas.
9. Manage Conduct-Related Risks: Support business areas in identifying and managing conduct-related risks, including implementing controls.
10. Foster Regulatory Relationships: Support business areas in fostering strong regulatory relationships through routine and non-routine engagement.
11. Support Business Change Initiatives: Guide business change and operational initiatives to achieve good customer and commercial outcomes (compliance by design).
12. Develop Compliance Policies: Contribute to the development of compliance policies and procedures regarding regulatory requirements.
13. Identify and Escalate Risks: Identify and escalate risks and control deficiencies, providing solutions to mitigate future issues.

Qualifications and experience:

• Significant experience working in an FCA regulated financial services environment, ideally in General Insurance, with proven success in managing compliance projects.
• Comprehensive knowledge of FCA rules and guidance, with the ability to communicate and translate these into deliverables.
• Broad understanding of the insurance industry, including products, institutions, and regulatory areas.
• Studying towards or having achieved a Compliance Industry Diploma.
• Excellent communication skills, with the ability to influence and inspire stakeholders at all levels.
• Proven leadership and team management experience, with a focus on development and high performance.
• Strong analytical and problem-solving skills, with risk mitigation capabilities.

Additional benefits include hybrid working, generous annual leave, discretionary bonus, pension scheme, flexible working options, healthcare plans, and various discounts and schemes to support wellbeing and work-life balance.

About Somerset Bridge Group: Somerset Bridge Group is dedicated to delivering fair products and innovative services in the insurance industry, focusing on underwriting, broking, and claims handling. We pride ourselves on our values, culture, and customer service excellence, and we are proud to hold a Silver Accreditation from Investors in People. Join us to be part of a dynamic team that fosters creative thinking and personal development.