Head of Compliance - Financial Crime and Advisory Services

Zurich Insurance; Swindon; Hybrid; GBP 70,000 - 110,000; Full time

Job summary

A leading international insurance provider in Swindon is seeking a Head of Compliance for Financial Crime and Advisory Services. This pivotal role requires managing a team and ensuring adherence to complex regulations within the financial sector. Candidates must have at least 5 years in a compliance role, excellent knowledge of regulations such as AML, and strong leadership abilities. The position offers flexible working options and a commitment to diversity and inclusion.

Benefits

12% defined non-contributory pension scheme

Annual company bonus

Income Protection

Private medical insurance

Discounted gym membership

28 days holiday plus bank holidays

Qualifications

• At least 5 years' experience in a similar Compliance related role within Financial Services.
• Excellent knowledge of AML, economic sanctions, and fraud.
• Broad knowledge of the Insurance and Investment Industry and UK regulatory framework.

Responsibilities

• Manage a team supporting adherence to regulatory requirements.
• Oversee delivery of technical financial crime services to the business.
• Ensure compliance with regulatory standards and customer focus.

Skills

Technical knowledge of financial crime

Strong communication skills

Problem-solving skills

Decision-making skills

Leadership skills

Education

Qualification in a relevant field (Diploma in Financial Planning or Insurance)

Job description

As Head of Compliance - Financial Crime and Advisory Services, you will be responsible for managing a team who support the business with understanding and adhering to potentially complex regulatory requirements. This team will include all of the financial crime technical experts with a team of compliance advisors as well. You will oversee the delivery of technical financial crime expertise and regulatory services and expertise to relevant business areas, as well as supporting your colleagues within Compliance. You will help to embed financial crime technical expertise and oversight processes as well as regulatory discipline within the business, manage and review compliance risks and advise on the design of appropriate controls and monitoring. You will lead interaction with the first line financial crime team and embed a robust financial crime oversight framework, key outsourcers, supporting the Head pf Compliance with the Compliance plan, creating reports for boards and committees and interaction with Swiss and European colleagues. Many of our employees work flexibly in a variety of different ways, including part‑time, flexible hours, job share, an element of working from home or compressed hours. This is because we want the best people for our roles, and we recognise that sometimes those people aren’t available full‑time. Please talk to us at the interview about the flexibility you may need.

Responsibilities

• Ensure the Financial Crime team improve compliance standards by the provision of clear guidance and fair challenge
• Put regulatory requirements and the customer at the heart of everything we do
• Oversee the development and maintenance of appropriate second line Financial Crime governance, policy and controls
• Oversee the team delivering impactful and accurate Financial Crime reporting and MI
• Oversee engagement with Financial Crime Regulators, Trade Bodies and Law Enforcement including input to and implementation of new regulatory/legislative Financial Crime developments
• Oversee the operationalisation and execution of Financial Crime activities e.g. provision of advice, regulatory reporting, stakeholder management, investigations.
• Operational management and direction of the second line Financial Crime team
• Support the Head of Compliance with and influence internal Senior Management and external third parties
• Keep abreast of regulatory and business change
• Share expertise and knowledge both internally and within the business
• Escalate any identified issues to the Head of Compliance and Senior Management
• Establish, enhance and implement relevant Compliance procedures
• Deputise for the Head of Compliance as necessary
• Set, agree and review annual objectives for direct reports
• Provide clear strategy, training and governance to the Financial Crime team and any relevant advisors
• Ensure the Financial Crime Team and Advisors provide support to the business in respect of identified regulatory issues, adhoc queries and through change programmes (e.g. business developments or regulatory change)
• Oversee the effective operation of the External Change Review Group (ECRG) process on behalf of Legal, including identification, allocation and tracking of in-scope legal and regulatory change
• Organise and oversee an effective Relationship Management model
• Act as or delegate the appointed Advisor on propositional developments and other project work
• Allocate support for internal projects assessing the compliance risks for each project
• Create, develop and maintain strong relationships with stakeholders across the business, Across the Financial Services industry, demand for Compliance professionals is increasing as firms wrestle with their regulatory risks. To give some scale, the FCA levied over £176m in fines during 2024 alone.

UK Compliance is a second line assurance function responsible for supporting Zurich’s UK management in promoting a culture of compliance and providing assurance that compliance risks are appropriately identified and managed. Our vision is to build a strong relationship with the business, based on clear guidance and fair challenge, so that they seek out our insight and expertise, to protect our business and deliver good outcomes for our customers. This desire to deliver good customer outcomes is what drives our vision as we seek to foster a culture of continuous improvement and improved customer experience. You’ll have to think on your feet as you manage regulatory risks big and small. It’s a big challenge, but you’ll have a truly diverse network helping you. As part of an established team, every day will provide opportunities to learn, grow and share ideas. We make every effort to address your career development needs and facilitate your future success.

This role is a Senior Management Function (SMF) role under the Senior Managers and Certification Regime (SM&CR), which is subject to regulatory approval. The successful candidate will be offered the position subject to the successful completion of Regulatory Reference requirements.

You should have at least 5 years’ experience in a similar Compliance related role within the Financial Services Industry. You will have excellent technical knowledge and experience of financial crime including an understanding of AML, economic sanctions and fraud. Ideally you will also either hold a qualification in a relevant field (e.g. Diploma in Financial Planning or Insurance) or be willing to work towards this. You will have a broad knowledge of the Insurance and Investment Industry, the UK regulatory and governance framework and Financial Crime regime is essential. Knowledge of the EU passporting regime is also useful. In particular you should have good knowledge of the FCA Handbook and the Financial Services & Markets Act and good working knowledge of the PRA Handbook and other relevant legislation. You will be a competent and experienced compliance advisor with strong communication, problem‑solving, interpretation, decision‑making and judgment skills are a must. You will need to be able to work with a high degree of autonomy. You will need to have first class interpersonal and communication skills with a strong ability to work collaboratively and in a team. You will have excellent commercial and business acumen and ability to build and maintain strong working relationships with all stakeholders and inspire confidence as a trusted compliance advisor and collaborator. You will need to understand business drivers in order to focus Compliance input appropriately and influence Senior Management accordingly. You will need strength in management and leadership and be able to inspire and transform a team.

Everyone’s different. That’s why at Zurich, we offer a wide range of employee benefits so our people can choose what fits them and their life. Our benefits provide real flexibility so our people can make considered choices and tailor their benefits throughout the year.

At Zurich, our sense of community is strong and we’re particularly passionate about diversity and inclusion, which we’ve won numerous awards for. We want our people to bring the whole of themselves to work and ensure everybody is made to feel welcome, regardless of their background, beliefs or culture. We want our employees to reflect the diversity of our customers, and so are committed to treating all of our applicants fairly and with respect, irrespective of their actual or assumed background, disability or any other protected characteristic. We’ve an environment that places a real importance on our people’s wellbeing from a physical, mental, social and financial perspective. We work with our wellbeing partners and industry experts to provide the best advice and access to a wealth of lifestyle support. We’re also committed to continuous improvement, and we offer access to a comprehensive range of training and development opportunities. We’re passionate about supporting employees to help others by getting involved in volunteering, charitable and community activity. Our charitable arm, Zurich Community Trust, is one of the longest‑established corporate trusts in the UK. In that time, we’ve awarded grants and volunteered time to deserving causes in the UK valued at over £90 million. So make a difference. Be challenged. Be inspired. Be supported, Love what you do. Work for us.

Financials

• 12% defined non‑contributory pension scheme.
• Annual company bonus.
• Income Protection.
• Life cover – four times your salary.

Time away

• 28 days holiday a year plus bank holidays.
• You can also request to swap UK bank holidays for days off that have cultural or religious significance to you.
• The option to buy up to an additional 20 days or sell some of your holiday.
• Three days paid volunteering.
• Up to 16 weeks’ full pay for maternity, paternity and adoption leave.

Your health is important to us

• Access to Private medical insurance.
• Virtual GP appointments.
• Discounted gym membership.
• Free flu jab.
• Access to a wealth of support from our wellbeing partners.

We’re making a difference

• Creating a brighter, more sustainable future underpins all that we do here in Zurich. We were the first insurer to sign the ‘UN Business Ambition for 1.5 C’ pledge.
• Our charitable arm, Zurich Community Trust, has awarded grants and volunteered time to deserving causes in the UK valued at over £90 million.