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Title: Risk & Compliance Manager
Location: London (hybrid working available if desired)
Salary: Negotiable
JOB PURPOSE:
- Be responsible for the provision of risk and compliance support and advice to specific entities and/or teams within the Underwriting and/or Wholesale Division. Provide subject matter expertise, advice and guidance on regulatory requirements, both in relation to UK and overseas entities, as relevant.
- Monitor whether the entities are operating in accordance with the relevant regulatory requirements and Brown & Brown (Europe) (“BBE”) policies and minimum standards.
- Build strong working relationships with teammates, in particular the heads of first line compliance and leaders of the individual entities, to promote and drive a positive risk and compliance culture and achievement of good customer outcomes.
PRINCIPAL ACCOUNTABILITIES / RESPONSIBILITIES:
- Monitor and challenge entities in embedding of key controls, as required, to comply with the Brown & Brown (Europe) policies and minimum standards. Where control gaps and/or breaches are identified, oversee remediation actions.
- Assess the effectiveness of the risk management framework, by contributing to the identification, monitoring and reporting of key risks and related controls. Reporting and escalation of risk events and near misses and helping oversee completion of remediation actions.
- Assist with the implementation of regulatory change, including ensuring teammates are provided with guidance on the application of relevant regulations and standards.
- Develop and maintain an understanding of relevant overseas regulatory requirements and assess how legislative differences may impact the compliance service to be provided and compliance with Brown & Brown (Europe) policies and minimum standards. Liaise with external overseas compliance consultants where used.
- Build strong relationships with leaders and other key stakeholders. Be a ‘trusted advisor’ to teammates. Provide advice and guidance on regulatory requirements to help businesses find solutions.
- Maintain effective working relationships with key first line teammates which enable collaborative working, whilst maintaining objective oversight and challenge. Be the first point of contact for the first line.
- Regularly review customer outcomes MI to identify risks, regulatory concerns and key control inadequacies. Escalate to leaders, ensuring leaders are provided with assistance, as required, to address risks of poor outcomes to customers. Where necessary, provide assistance in design and implementation of improvements.
- Proactive engagement with leaders and first line teammates to drive improvement in key risk indicators such as, but not limited to, file audit completion and pass rates, complaints outcomes, AR oversight, regulatory breaches. Confirm that root cause and trend analysis is performed.
- Perform sample checking of adherence to regulatory requirements and BBE key controls, to identify aspects of non-compliance and assist with the actions to address, as appropriate.
- Provide effective reporting on risk and compliance matters, ensuring the key issues are raised. Attend and present at Boards, committees and other relevant governance meetings on risk and compliance matters, as required.
- Confirm that teammates are provided with sufficient and relevant training on risk and regulatory topics. As required, develop and deliver training to teammates on the application of relevant laws, regulatory requirements, key controls and other risk and regulatory compliance matters.
- Support the timely and accurate submission of regulatory returns and regulatory applications (FCA and overseas jurisdictions).
- Provide sanctions advisory support including the review, assessment and escalation of sanctions-related risks, referrals and exceptions.
- Support leaders with the implementation and embedding of actions from Group Assurance reviews, Internal audits and Insurer audits.
- Assist with the completion of a control attestation process for the entities. Where concerns and/or breaches are identified, verify that remediation action is undertaken.
- Lead the compliance integration work for assigned acquisitions ensuring that all key risks found in due diligence are remediated and onboarding actions are completed in a timely manner.
- Provide compliance workstream support on Division/BBE-wide projects as and when required.
- Contribute to and support the entities in meeting their objectives and goals.
We are an Equal Opportunity Employer. We take pride in the diversity of our team and seek diversity in our applicants.
