Compliance Officer

Job Type:

Build a brilliant future with Hiscox
 

The Role

As the Compliance Officer supporting the Lloyd’s Syndicates and London Market Business Unit you will support the Business’ understanding of regulatory risk and establishing control frameworks where necessary. Your role will have a particular focus on overseeing the Business’s compliance with relevant financial crime legislative and regulatory requirements. You will be expected to combine your ability to understand the regulatory requirements with the operational and commercial complexities of the business with the need to manage financial crime regulatory risk. Working with business stakeholders at all levels of seniority, you will be supporting the Compliance team in providing regulatory advice and challenge. This demanding and rewarding role requires a broad knowledge of insurance regulatory matters across the Lloyd’s and London Market businesses, including Sanctions and Financial Crime, Conduct Risk, Insurance Distribution Directive, International Licensing, Lloyd’s requirements and proven problem solving skills.

What you’ll be doing:

• Working with stakeholders to embed a good compliance culture
• Providing oversight and developing the business’ understanding of regulatory risk
• Providing support for and coordination of key regulatory returns (PRA, FCA and Lloyd’s) 
• Responding to the business’ day to day compliance queries including those related to sanctions and financial crime within agreed SLAs.
• Regularly monitoring and reviewing the output of the sanctions screening software to facilitate compliance with sanctions measures. Management of “fuzzy matching” system outputs.   
• Supporting the workflow triage process to ensure business queries are responded to appropriately
• Reviewing assessing how Group compliance standards and policies have been embedded within the relevant Business Units
• Working with the broader Hiscox Compliance function to help develop meaningful compliance performance MI   
• Monitoring and communicating regulatory change and actively influencing the business to establish control frameworks
• Providing regulatory support to business owned projects and change initiatives
• Jointly coordinate support for regulator information requests, reviews and regulatory returns
• Supporting the wider compliance team (e.g. team initiatives, weekly sanctions screening, compliance training for the business)

To succeed in this role, you will have a good understanding of Insurance regulation (preferably UK including Lloyd’s) and will be comfortable working in a complex and dynamic environment. You will be dealing with lots of different people, systems, processes and information so you’ll have to be versatile, flexible, highly organised, personable and engaging. Your goal will be to support the business and Compliance team in ensuring all applicable regulatory obligations are met. You will be expected to build relationships with key stakeholders and it’s essential you have the communication skills that enable you to articulate your position clearly and persuasively.

Our must haves:

• Knowledge of and experience in the general insurance market is essential
• A broad knowledge of key  insurance regulatory topics, and experience with coordinating /submitting regulatory returns
• Experience in monitoring and communicating regulatory change
• Knowledge of financial and economic sanctions, including controls, investigation, assurance and monitoring. Working understanding of the Worldcheck Sanctions screening system would be ideal
• A keen eye for detail and strong organisational skills;
• Good written and verbal communication skills, particularly “soft” influencing, persuasion and consultancy skills and an ability to encourage business leaders to positively respond to questions, requests and challenges
• Ability to successfully manage workloads, including multi-tasking, monitoring progress and re-prioritising work where needed
• The ability to actively manage work performed by others such as the 1st line, ensuring appropriate oversight and delivery of work while avoiding micro-management
• The ability to manage own performance effectively including agreeing objectives and bring a positive team spirit, trust and engagement
• Significant emotional intelligence and self-awareness, with the ability to resolve issues within a team in a judicious and empathetic manner

About Hiscox

As an international specialist insurer we are far removed from the world of mass market insurance products. Instead we are selective and focus on our key areas of expertise and strength - all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way of doing things.

We insure the unique and the interesting; and we search for the same when it comes to talented people. Hiscox is full of smart, reliable human beings that look out for customers and each other. We believe in doing the right thing, making good and rebuilding when things go wrong. Everyone is encouraged to think creatively, challenge the status quo and look for solutions.

Scratch beneath the surface and you will find a business that is solid, but slightly contrary. We like to do things differently and constantly seek to evolve. We might have been around for a long time (our roots go back to 1901), but we are young in many ways, ambitious and going places.

Some people might say insurance is dull, but life at Hiscox is anything but. If that sounds good to you, get in touch.

Work with amazing people and be part of a unique culture