Senior Compliance Analyst (FTC)

Starr Underwriting; City Of London; On-site; GBP 40,000 - 60,000; Full time

Job summary

A leading insurance organization in London is seeking a Compliance Officer responsible for developing and delivering the Compliance Plan. Key tasks include maintaining licenses, ensuring policies are embedded and advising on compliance matters. Relevant experience in the insurance industry and strong communication skills are essential. This role offers a commitment to an inclusive work environment with training opportunities.

Qualifications

• Relevant experience in the insurance industry.
• Familiarity with compliance requirements in the Lloyd’s market.
• Experience in providing advice and assurance on compliance matters.

Responsibilities

• Maintain existing company licenses and prepare applications for new jurisdictions.
• Engage with business to ensure Compliance policies/procedures are embedded.
• Represent Compliance on key business projects.

Skills

Commercial acumen and application of regulatory compliance

Planning and organisational skills

Strong communication skills both written and oral

Relationship Building both internal and external

Professional business writing and presentation skills

Judgement and decision making

Ability to act with due professional care

Analytical thinking

Tools

MS Office

Power BI

Job description

Starr Insurance Companies is a leading insurance and investment organization, providing commercial property and casualty insurance, including travel and accident coverage, to almost every imaginable business and industry in virtually every part of the world. Cornelius Vander Starr established his first insurance company in Shanghai, China in 1919. Today, we are one of the world’s fastest growing insurance organizations, capable of writing in 128 countries on 6 continents.

Role Purpose

To support the UK Head of Compliance develop and deliver the Compliance Plan ensuring all relevant regulatory requirements are identified and implemented and making sure the Compliance function operates effectively.

Responsibilities

Regulatory

• Take the lead in maintaining existing company licenses and prepare applications for licenses in new jurisdictions.
• Engage with business to ensure Compliance policies/procedures are understood and embedded accordingly and stakeholders are aware of applicable regulatory and legal developments.
• Take the lead representing Compliance on key business projects.
• Assist with the compiling compliance reporting and management information to relevant committees.
• Support the delivery of external regulatory reporting undertaken by Compliance to ensure it is prepared accurately and submitted in a timely manner.
• Analyzing Line 1 management information, key performance indicators and risk metrics to identify any potential indicators which increase Starr’s regulatory exposure.
• Keep up to date with external regulatory developments to identify impact to Starr London.
• Support with maintaining Compliance owned policies, procedures, and risk assessments.
• Assist with the delivery of the face-to-face UK Compliance Induction training.
• Advise internal stakeholders on management of potential conflicts.

Conduct and Product Governance

• Performing a Line 2 Compliance review of new and existing binding authority products.
• Review draft complaint final response letters and providing guidance and sign-off to third-parties.
• Liasing with Line 1 Claims team in overseeing Delegated Claims Authority (DCA) conduct related performance.
• Providing Line 2 Compliance advice and independent challenge as part of the product approval process in reviewing fair value assessments, product submissions and customer journey.

Financial Crime

• Assist with completing pre- and post-bind sanctions screening checks.
• Advise internal stakeholders on financial crime related queries including sanctions.

Experience

• Relevant experience in the insurance industry.
• Familiarity with compliance requirements in the Lloyd’s market.
• Experience in providing advice and assurance on compliance matters including licencing, sanctions and conduct risk related matters.

Skills

• Commercial acumen and application of regulatory compliance
• Planning and organisational skills.
• Strong communication skills both written and oral.
• Relationship Building both internal and external.
• Professional business writing and presentation skills.
• Judgement and decision making.
• Ability to act with due professional care, demonstrating sound integrity and confidentiality.
• Analytical thinking – explores and understands trends, opportunities and risks that could affect the business.

Systems & IT

• MS Office - Excel, Visio, Word, PowerPoint, and Outlook; and
• Adaptability of working with various business and reporting tools including Power BI.

Starr is an equal opportunity employer, which means we'll consider all suitably qualified applicants regardless of gender identity or expression, ethnic origin, nationality, religion or beliefs, age, sexual orientation, disability status or any other protected characteristic. We recruit and develop our people based on merit and we're committed to creating an inclusive environment for all employees. We offer first class training and development opportunities to all employees. Our aim is to grow our own talent and bring out the best in people.