Product Governance Analyst

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

Job summary

A leading insurance brokerage in the UK seeks a Product Governance Analyst to ensure compliance with consumer protection regulations. The role involves analyzing products, managing risks, and collaborating with various teams. Offering hybrid work options and a range of benefits.

Benefits

25 days holiday plus bank holidays

Defined contribution pension scheme

Life insurance covering 4x salary

Income protection

Health cash plan or private medical insurance

Paid volunteering days

Employee Stock Purchase plan

Discounted gym memberships

Qualifications

• Proven experience in product governance or compliance in the UK insurance market.
• In-depth knowledge of customer duty of care regulations.

Responsibilities

• Conduct analysis of product portfolio for consumer protection.
• Develop and implement product governance policies and procedures.
• Collaborate with cross-functional teams to ensure compliance.

Skills

Analytical skills

Communication

Interpersonal skills

Detail-oriented

Education

Professional certifications in product governance or compliance

Job description

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Overview

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 will support 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 respect to new product development and existing product changes.
3. Assist with identification and implementation of Product Governance controls, and ensure our processes and best practices are appropriately documented.
4. Be integral to the Product Review process at Gallagher Retail, ensuring Product Assessments are completed annually or as required, and all products undergo regular risk reviews.
5. Collaborate with cross-functional teams, including Legal, Compliance, and Product Development, to ensure compliance with regulatory requirements.
6. Develop and implement product governance policies and procedures to ensure adherence to Consumer Duty regulations.
7. Monitor industry trends and regulatory changes related to customer duty of care and provide recommendations for necessary adjustments to our product offerings.
8. Conduct regular audits and reviews to assess the effectiveness of our product governance framework.
9. Collaborate with internal stakeholders to ensure that customer feedback and complaints are appropriately addressed and incorporated into product governance processes.
10. Provide training and guidance to internal teams on customer duty of care regulations and best practices.
11. Prepare materials and deliver presentations to internal stakeholders.
12. Stay up-to-date with industry best practices and emerging trends in Consumer Duty and other relevant regulatory obligations to continuously improve our product governance framework.

About You

• Proven experience in product governance, compliance, or a similar role within the UK insurance market.
• In-depth knowledge of customer duty of care regulations and their application in the insurance industry.
• Analytical skills with the ability to assess complex information and identify potential 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 simultaneously.
• Professional certifications in product governance or compliance are desirable but not mandatory.

Compensation and Benefits

Along with a competitive salary, great teams, and exciting career opportunities, we offer a wide range of benefits:

• Minimum of 25 days holiday, plus bank holidays, with options to buy extra days.
• Defined contribution pension scheme with Gallagher contributions.
• Life insurance covering 4x your basic annual salary, with top-up options.
• Income protection covering up to 50% of your income, with top-up options.
• Health cash plan or private medical insurance.
• Other benefits include: three paid volunteering days per year, Employee Stock Purchase plan, Share incentive plan, critical illness cover, discounted gym memberships, season ticket loan, access to discounted shopping vouchers, emergency family care, and more.