My client is one of the largest insurance companies in the world. The company has significant market share in Western Europe and as part of its growth strategy is looking to expand their presence in the UK as well as the Far East. Currently they have a presence in more than 50 countries with over 70,000 employees
This is an exciting time to join the company with huge potential to contribute to business growth and innovation. A big part of the role will be to partner with the three main business units, providing regulatory compliance and financial crime advice to the various teams.
You will need to perform a gap analysis on the current processes and policies and identify where improvements and efficiencies are needed that can help facilitate the wider business strategy. Current issues that need attention include the complaints handling process and sanctions. You will interact predominantly with the FCA but also have exposure to PRA rules and how these will impact the business.
The current team is relatively small team compared with their competitors but this is because there is a focus on scaling the depth of knowledge and competency within the team and utilising technology and data management to its fullest potential. This is not about doing more with less but enabling the compliance function to focus more proactively on business initiatives as opposed to "just" advising and monitoring on regulatory requirements.
The UK company is primarily a retail insurance business and will give you exposure to how London Market, Health Insurers and Employee Benefits businesses are impacted by FCA and PRA rules and regulations. This is very much an operational compliance role that will involve excellent stakeholder management (up to SMT/C-Suite) and relationship management skills. You will be able to look back on your time with the company and demonstrate value through integrating compliance policy into business strategy and growth.
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