Risk and Compliance Analyst
davies · London, United Kingdom ·
- Work mode
- Hybrid
- Category
- Legal
The candidate will support the Head of Compliance, and the compliance team with the risk management framework and risk management policy implementation across Insurance Solutions businesses. This role covers the London Market Intermediaries, Captive Management and Insurance Solutions North America.
The role will act as a central control point for risk governance, supporting the consistent identification, assessment, monitoring and reporting of risks across the division. The candidate will also support the Head of Compliance, and the compliance team to deliver, maintain and help comply with Davies Insurance Solutions regulatory compliance framework and oversee the Intermediary Services’ network of Appointed Representatives overseeing and managing a portfolio of Appointed Representatives (ARs).
- Support the Compliance and Risk Manager with the implementation, maintenance and ongoing enhancement of the Insurance Solutions risk management framework, promoting consistent risk identification, assessment, ownership, monitoring and reporting across Insurance Solutions entities and business units.
- Maintain and develop risk registers for each relevant business entity, ensuring risks are appropriately recorded, assessed, assigned, reviewed and updated in line with agreed governance standards and reporting cadence.
- Engage proactively with risk owners across Insurance Solutions to identify existing, new and emerging risks, agree risk ratings and support proportionate controls, mitigations and action plans.
- Maintain action logs, track overdue actions and support timely escalation of material issues, control weaknesses, emerging risks and any risk appetite or threshold breaches.
- Assist with the running of risk workshops and periodic risk reviews to strengthen risk ownership, challenge and the quality of risk and control documentation across the division.
- Prepare regular and ad-hoc risk MI, dashboards and reporting packs for entity boards, risk committees and Insurance Solutions leadership forums, including top risks, emerging risks, overdue actions, control effectiveness and assessment completion status.
- Support the rollout, completion tracking and quality assurance of client risk assessments and financial crime risk assessments across Insurance Solutions, allowing for local regulatory variation and input from relevant subject matter experts.
- Assist with the implementation and monitoring of the Davies Insurance Solutions Compliance Monitoring Plan across the relevant UK entities, ensuring findings, actions and thematic issues are reflected in risk reporting where appropriate.
- Support regular oversight of the Intermediary Services network of Appointed Representatives, including assistance with new AR onboarding, due diligence, policy and procedure reviews, insurer audit follow-up and regulatory oversight requirements.
- Assist with preparing board and committee materials for AR oversight, DIS compliance meetings, Group Risk and Governance reporting and other relevant governance forums.
- Support the Compliance team with monitoring regulatory requirements relevant to the role, including IDD, PRIN, ICOBS, SYSC, PROD and SUP, and help identify where rule changes or compliance findings create risk management implications.
- Several years experience working in a risk and compliance environment, preferably in the Insurance sector
- A strong understanding of risk management including designing and implementing risk management frameworks
- Experience maintaining risk registers, action plans and governance documentation
- Solid understanding of regulatory rules and how changes affect the wholesale and retail market (retail market would be preferable)
- Ideally working towards, or having a passion to work towards, a relevant risk or compliance qualification
- An understanding of FCA rules such as PRIN, ICOBS, SYSC, PROD and SUP Supervision
- Excellent organisational and stakeholder management skills
- Confident in constructively challenging and influencing at senior levels
- Strong written and verbal communication skills
- Ability to manage multiple priorities and deliver to various, often conflicting deadlines
- Contribute positively to the team culture by demonstrating strong team player mentality
- Exhibit traits that align to Davies values