Distribution Compliance Specialist
Salary: £50,000 - £55,000 + bonus
Job Type: Permanent
Job Reference: GA02872
An market leading and highly prestigious Insurance organisation based in Reigate, Surrey require a Distribution Compliance Specialist to make a significant contribution to the effectiveness of the Distribution Compliance team through the provision of timely and accurate support and guidance, and analysis of regulatory risk in respect of projects and business as usual activities. To assist the ongoing maintenance and development of standards of advice, ensuring that ‘best advice’ and ‘best practice’ are adopted within direct customer functions and supporting these distribution functions to examine quality throughout their operations and to help ensure they operate within a strong and positive compliance culture. You will also make a contribution to the development and maintenance of a robust Treating Customers Fairly (TCF) culture.
- Reviewing and maintaining quality compliance systems and controls for customer-facing distribution functions that are appropriate to the Company’s stated risk appetite. Specifically to support identification, mitigate and monitor risk across customer-facing distribution functions:
- Maintaining the advice standards and co-ordination of the Best Practice Manual for the Company.
- Developing, maintaining and documenting appropriate day to day monitoring systems that facilitate the early communication of risk identification.
- Routinely produce and analyse qualitative KPIs, reporting how effectively conduct risk is managed within the distribution functions, ensuring weaknesses and themes are identified, and remedial actions requested of the Business. In particular, to investigate and analyse root cause data.
- Monitoring remedial action resulting from the identification of conduct risk to ensure they are completed by relevant owner.
- Maintain a programme of positive compliance assurance reviews.
- Support the follow up on actions from Group Compliance Monitoring reviews and Internal Audit actions to ensure actions are satisfactorily addressed.
- To monitor the quality of existing procedures and to assist in the creation of documented robust systems and controls.
- To monitor the quality of existing T&C procedures and to ensure the effective application of these procedures across the functions
- To provide support and guidance to business by contributing to the development of, reviewing and approving process scripts and documentation.
- Provide consultancy support and technical expertise on FCA regulatory issues and corporate developments to assist the Business in achieving its objectives and to ensure compliance with current legislation and best practice.
- To understand and respond effectively to ever changing needs of all customers; ensuring that business as usual activities and developments reflect the fair treatment of our customers.
- To help ensure that the Group is compliant with FCA and other regulatory requirements in relation to its dealings with intermediary and partner firms.
- To participate in the collation of the Company’s performance against TCF principles (TCF MI).
Skills & Experience
- Proven track record in financial services compliance.
- Compliance track record in financial services, ideally in the retail insurance market and, in particular, experience of Treating Customer Fairly regime.
- Previous experience in Pensions Review and/ or as a Technical Consultant/ Financial Adviser/ Para-planner would be beneficial
- Experience of delivery of compliance business support with a high level of customer orientation and good communication skills (both verbal and written).
- Knowledge of Financial Conduct Authority regulations and compliance framework, as it relates to retail firms.
- High level of IT literacy, including Microsoft Office packages, in particular, Excel.
- Excellent interpersonal, organisational and analytical skills.
- Possessing an attention to detail with a focused commitment to achieving quality.
- Logical, systematic, with the ability to research and gather facts, working to clear guidelines and company standards.
If you possess the key skills and experience and are looking to develop and progress your compliance career with an industry leading Insurance organisation based in Surrey, please do apply with your CV details.