Compliance Assistant

Compliance Assistant

Job Market – Insurance

To assist in the day-to-day running of the Compliance Department and the fulfilment of its Lloyd’s and UK regulator obligations.

Responsibilities include the monitoring and reporting of regulatory deadlines, compliance timetables and staff training requirements and the supervision of countering financial crime procedures (sanctions, anti-money laundering and anti- bribery and corruption).

The Compliance Assistant is also responsible for maintaining compliance records, registers and files, and distributing regulatory information and news throughout the business. To be successful, the role also requires effective relationships with all areas of the business and external regulators.

To assist the Compliance function and contribute to the monitoring of compliance with applicable UK (PRA and FCA), Lloyd’s, overseas and EU insurance regulations and sanctions

Compliance Assistant – About the job

To contribute to the management and monitoring of effective, risk-based and commercially pragmatic compliance with UK regulations (PRA and FCA), Lloyd’s, overseas and EU insurance regulations, and international sanctions

To assist in monitoring and reporting to ensure that the company meets all regulatory and other deadlines, including alerting and reminding other business areas

To review, monitor, investigate and report on all financial crime matters through the Compliance Manager

To liaise effectively and build relationships with all areas of the business and external regulators

To produce compliance timetables and regularly monitor adherence

To complete regulatory applications, returns and forms as required, and maintain compliance records and files

To maintain and document appropriate compliance systems and procedures

To assist in preparation of the Annual Compliance Plan

To assist in the resolution of customer complaints and ensure accurate reporting of complaints to Lloyd’s and other regulatory authorities as appropriate

To assist in the provision of training and advice on regulatory and other compliance-related matters as appropriate to all levels of the business

To manage and monitor compliance with training requirements (including anti-money laundering and Code of Conduct)

Day-to-day responsibility for distribution of regulatory information

To conduct regular monitoring work and produce reports on findings, using RAG ratings and KPIs

To conduct a weekly review of output from third party sanctions screening software

To assist in promoting the Compliance function as an added value to the business through training programmes, inductions, external presentations, intranet communications and day to day interaction with staff

To provide management information for syndicate and board reports

To maintain communication with Lloyd’s for business queries where required, and ensure market updates are communicated in a timely manner to the business

To undertake other appropriate tasks and participate in other projects within the Risk Department as may be required

Compliance Assistant – Key requirements

Experience of the insurance industry, preferably within the Lloyd’s Market

Intermediate knowledge of Excel, Word and Powerpoint

Working understanding of Lloyd’s and/or overseas regulatory regimes

Good working understanding of the UK Regulatory regime (PRA / FCA)

Degree level / ACII / 3 ‘A’ levels