Product Governance Analyst

TN United Kingdom; Chelmsford; Hybrid; GBP 40,000 - 70,000; Full time

Job summary

An established industry player is seeking a skilled Product Governance Analyst to enhance their product offerings in the UK insurance market. This role is pivotal in ensuring compliance with customer duty of care regulations and involves comprehensive analysis of product portfolios, risk assessments, and collaboration with cross-functional teams. The ideal candidate will possess strong analytical skills, stakeholder management experience, and a keen understanding of regulatory frameworks. Join a forward-thinking company that values customer protection and offers hybrid working arrangements, along with a competitive salary and comprehensive benefits package.

Benefits

25 days holiday plus bank holidays

Defined contribution pension scheme

Life insurance covering 4x basic salary

Income protection up to 50% of annual income

Health cash plan or private medical insurance

Volunteering days

Employee stock purchase plan

Gym membership discounts

Discount vouchers

Family care support

Qualifications

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

Responsibilities

• Conduct analysis of product portfolio for consumer protection compliance.
• Collaborate with teams to ensure regulatory compliance and governance.

Skills

Product Governance

Compliance

Analytical Skills

Stakeholder Management

Communication Skills

Education

Professional Certifications in Product Governance

Job description

Social network you want to login/join with:

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. We offer hybrid remote working, and occasional travel to sites across the UK may be required.

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, ensuring 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 regulatory compliance.
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 recommend 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 customer feedback and complaints are addressed and incorporated into 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 continually improve our 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.
• Strong analytical skills 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 strong 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, 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's contributions.
• Life insurance covering 4x your basic salary, with top-up options.
• Income protection covering up to 50% of your annual income, with options to increase.
• Health cash plan or private medical insurance.
• Additional benefits such as volunteering days, employee stock purchase plan, share incentive plan, critical illness cover, gym membership discounts, season ticket loans, discount vouchers, family care, and more.