Product Governance Analyst

TN United Kingdom; Birmingham; Hybrid; GBP 40,000 - 60,000; Full time

Job summary

A leading insurance brokerage in the UK is seeking a Product Governance Analyst to ensure products meet customer protection and regulatory compliance standards. This role involves analyzing product portfolios, implementing governance measures, and collaborating with various teams to enhance product governance frameworks. The position offers hybrid working options and a competitive salary with comprehensive benefits.

Benefits

25 days holiday plus bank holidays

Defined contribution pension scheme

Life insurance (4x basic salary)

Income protection

Health cash plan or private medical insurance

Volunteering days

Employee Stock Purchase Plan

Gym discounts

Qualifications

• Proven experience in product governance, compliance, or similar roles within the UK insurance market.
• Deep knowledge of customer duty of care regulations.
• Strong analytical skills to assess complex information.

Responsibilities

• Conduct comprehensive analysis of product portfolio for consumer protection.
• Develop and implement product governance policies aligned with regulations.
• Collaborate with Legal and Compliance teams for regulatory compliance.

Skills

Analytical skills

Stakeholder management

Communication skills

Detail-oriented

Education

Professional certifications in product governance or compliance

Job description

Gallagher is a leading insurance brokerage operating in the UK market. We are committed to providing exceptional products and services to our customers while ensuring their best interests are protected. As part of our dedication to customer duty of care, we are seeking a talented and experienced Product Governance Analyst to join our team.

As a Product Governance Analyst, you will play a crucial role in ensuring that our products and services meet the highest standards of customer protection and regulatory compliance. You will be responsible for analyzing and assessing our product portfolio, identifying potential risks, and implementing measures to mitigate those risks. Your expertise in the UK insurance market and knowledge of customer duty of care regulations will be instrumental in shaping our product governance framework.

This role supports our UK Retail Division, which has 60 offices across the UK & Ireland. We are open to this role being based anywhere in the UK, offering hybrid remote working, with occasional travel to sites across the UK.

How you'll make an impact

1. Conduct comprehensive analysis of our product portfolio to ensure adherence to the highest levels of consumer protection.
2. Work as part of the Product Governance team to ensure business units are compliant with New Product development and Existing Product changes.
3. Assist with identification and implementation of Product Governance controls, ensuring processes and best practices are documented.
4. Participate in the Product Review process at Gallagher Retail, completing Product Assessments annually or as required, and conducting regular risk reviews.
5. Collaborate with Legal, Compliance, and Product Development teams to ensure regulatory compliance.
6. Develop and implement product governance policies and procedures aligned with Consumer Duty regulations.
7. Monitor industry trends and regulatory changes related to customer duty of care, recommending necessary adjustments to our products.
8. Conduct regular audits and reviews to evaluate the effectiveness of our product governance framework.
9. Work with internal stakeholders to address and incorporate customer feedback and complaints into governance processes.
10. Provide training and guidance on customer duty of care regulations and best practices to internal teams.
11. Prepare materials and deliver presentations to internal stakeholders.
12. Stay updated on industry best practices and emerging trends to enhance our product governance framework.

About You

• Proven experience in product governance, compliance, or similar roles within the UK insurance market.
• Deep knowledge of customer duty of care regulations and their application.
• Strong analytical skills to assess complex information and identify risks.
• Experience managing stakeholder relationships at all levels, including C-Suite.
• Excellent communication and interpersonal skills for effective collaboration.
• Detail-oriented with a focus on accuracy and compliance.
• Ability to work independently and manage multiple projects.
• Professional certifications in product governance or compliance are desirable but not mandatory.

Compensation and Benefits

Along with a competitive salary, we offer a range of benefits including:

• Minimum of 25 days holiday plus bank holidays, with options to buy extra days.
• Defined contribution pension scheme with Gallagher contributions.
• Life insurance (4x basic salary, with optional top-up to 10x).
• Income protection covering up to 50% of income, with options to top-up.
• Health cash plan or private medical insurance.
• Additional benefits: volunteering days, Employee Stock Purchase Plan, Share Incentive Plan, critical illness cover, gym discounts, season ticket loans, shopping vouchers, family care, and more.