Senior Risk & Compliance Officer

Willis Re (UK) Limited; Greater London; On-site; GBP 90,000 - 130,000; Full time

Job summary

Willis Re (UK) Limited is seeking an experienced Senior Risk and Compliance Officer to embed and oversee the firm’s risk and compliance frameworks in the UK and beyond. The role is hands-on, leading a small team to strengthen regulatory controls, incident management and three lines of defence in a reinsurance environment with interactions across broking, operations and key stakeholders.

The successful candidate will demonstrate senior UK (re)insurance risk and compliance experience, strong

Qualifications

• Previous senior risk and compliance experience within the UK (re)insurance sector, ideally at a reinsurance broker.
• Demonstrated knowledge of FCA and PRA regimes, including SM&CR.
• Experience engaging credibly with regulators and Boards.
• Exposure to risk identification, assessment and monitoring across a business.

Responsibilities

• Regulatory Oversight & Assurance
• Embed and continuously improve a robust Risk & Compliance Framework
• Support the delivery of a robust three lines of defence control environment
• Deliver an annual plan of Risk and Compliance monitoring and testing
• Oversee incident management and regulatory breach reporting
• Assist in responding to regulatory inquiries and supervisory visits
• Deputise for the CRCO at Boards and Committees
• Prepare regular risk reporting and regulatory attestations
• Support development and testing of Sanctions, AML and AB&C frameworks
• Maintain and update risk and compliance policies and controls

Skills

Senior risk & compliance experience

FCA & PRA regimes (SMCR)

Regulatory engagement with regulators

Independent judgement

Multi-entity/reg. group experience

Compliance qualifications

Job description

Location

London

Reports to: Interim Chief Risk and Compliance Officer (CRCO)

Role Overview

We are looking to hire an experienced Senior Risk and Compliance Officer to help embed and oversee Willis Re's Risk and Compliance frameworks both in the UK and internationally. This role is very much hands on, working with a small team to develop the compliance framework to mitigate regulatory risk, financial crime and embed the broader enterprise risk management framework across all areas of the business. You will work closely with our internal broking divisions, operations and various functional key-stakeholders to support the achievement of business targets and objectives, and to comply with and fulfil regulatory obligations and expectations.

Role Responsibilities

• Regulatory Oversight & Assurance
• Embed and continuously look to improve a robust Risk & Compliance Framework
• Support the delivery of a robust three lines of defence control environment
• Deliver an annual plan of Risk and Compliance monitoring, testing.
• Oversee incident management and regulatory breach reporting
• Help deliver change programmes aligned to the reinsurance industry and assess business impacts
• Regulatory Engagement
• Deputise for the CRCO with the FCA and other regulatory bodies for conduct, risk and compliance matters
• Assist in responding to regulatory enquiries, thematic reviews, skilled persons' reviews and supervisory visits
• Ensure timely and high-quality regulatory submissions and attestations
• Governance & Board Advisory
• Deputise for the CRCO when required at all relevant Boards and Committees
• Help prepare all regular reporting, including risk indicators and emerging regulatory themes
• Support Willis Re in meeting its collective and individual SM&CR obligations in the UK Financial Crime, Conduct & Customer Protection Champion high standards of conduct and ethical behaviour across the company
• Be a key stakeholder in the development, embedding and testing of frameworks for Sanctions, Anti-Money Laundering and Anti-Bribery and Corruption
• Ensure Willis Re remains compliant with product governance and complaints requirements as well as other relevant consumer protections so far as Will Re is impacted Risk Management
• Assist the CRCO in the continuous development, implementation and maintenance of the company's Enterprise Risk Management framework
• Assist in the process of risk identification, assessment and monitoring across the business, including horizon scanning for emerging risks
• Oversee scenario analysis and stress testing (where appropriate)
• Policies, Controls & Risk Management
• Ensure Willis Re maintains all risk and compliance policies, procedures and standards as required to meet its regulatory, legal and commercial requirements
• Oversee remediation programmes and root cause analysis of compliance failings

Required Skills, Knowledge & Experience

• Previous senior risk and compliance experience within the UK (re)insurance sector, ideally at a reinsurance broker
• Strong working knowledge of FCA and PRA regimes, including SM&CR
• Demonstrated experience engaging credibly with regulators (UK, EU and overseas) and Boards
• Experience in obtaining and expanding regulatory authorisations
• Proven ability to exercise independent judgement and effective challenge
• Exposure to multi-entity or complex regulated group structures
• Professional compliance, legal or risk qualifications
• High ethical standards and the ability to make decisions that balance regulatory compliance with business objectives
• Calm and resilient under pressure
• Commercially pragmatic whilst maintaining regulatory standards

About Willis Re

We combine specialist broking with analytics, modeling and research to help insurers optimize risk transfer, strengthen balance sheets and achieve sustainable growth. Our approach is relationship-driven, transparent and outcome-focused. At the heart of Willis Re is a focus on delivering the most cutting-edge analytical solutions to enable more informed, better decision-making for risk selection, portfolio optimization, and capital management. The launch of Willis Re brings a strategic advantage of being unhindered by legacy, an ability to leverage data, statistical models and advanced technologies with the best knowledge and expertise to deliver more efficient and effective reinsurance outcomes. This places Willis Re in a unique position to build a truly analytically driven business, focused on creating solutions for the reinsurance industry that are future led and forward thinking. Willis Re will also leverage recognized technical expertise from WTW’s Insurance Consulting & Technology business including their advanced modeling and analytical capabilities. Alongside this will be WTW’s Research Network, an award-winning business supporting and influencing science to improve the understanding and quantification of risk.

Willis Re is committed to embracing a diverse, inclusive, and flexible work environment. We provide equal opportunity to all qualified individuals regardless of race, colour, religion, age, gender, gender expression, national origin, veteran status, disability, orientation, or any other legally protected categories. If you have a need that requires accommodation, please email us at [e-mail] We’re hiring people from all walks of life who are curious, collaborative and ambitious. If you want to be part of a team that leads with heart, builds with courage and redefines what’s possible in our industry, then this is your moment. We look forward to hearing from you!

If you’re curious, collaborative, and ambitious, you’ll find the opportunity at Willis Re to shape something extraordinary.