Compliance Auditor (Third Party)
To play a key role in ensuring that UK General Insurance Ltd and its clients trade in a consumer focused, compliant manner to reduce or mitigate any risk exposure to litigation or regulatory complaint and ensuring the right outcomes for the end consumer. To provide a comprehensive range of auditing services for Personal Lines distribution channels, working closely and building relationships with UK General senior management and external clients, ensuring documented processes, procedures, systems and controls are in place and followed. To identify requirements & recommendations that ensure compliant and consumer focused processes, procedures and controls are fully embedded.
Main activities and tasks
- Ensure the Business and its clients operate within the documented and agreed procedures, systems, controls and risk framework as part of the FCA requirements and other regulatory bodies.
- Undertake regular audit visits of UK General’s external clients, examining the culture of a firm, ensuring compliance with business contractual agreements, systems & controls across a range of disciplines (for example, compliance and governance, conduct, claims, finance, sales and underwriting).
- Identify and make appropriate requirements and recommendations within the established reporting framework, having discussed and agreed matters with key stakeholders beforehand.
- Issue detailed report findings to internal and external key stakeholders within tight service level agreements, which accurately reflect the review findings and gain full buy-in.
- Ensure external clients’ procedures and systems are reviewed and monitored on a planned basis from the viewpoint of effective compliance and proactively advise Senior Management of actions required.
- Assist with the regular compliance monitoring of internal systems and controls.
- Keep in tune with industry best practice & regulatory developments, proactively developing systems & controls within the Business.
- Liaise closely with key stakeholders and participate in relevant committees, ensuring all stakeholders are appropriately informed of key issues & opportunities.
- Contribute to the maintenance of a highly effective, proportionate risk based risk and compliance monitoring plan and reporting rationale.
- Provide on site advice to management & colleagues on monitoring and compliance matters.
- Assist the Business with Key Projects and other ad hoc responsibilities as required.
Required skills and experience
TECHNICAL SKILLS REQUIRED
- Excellent knowledge of auditing/monitoring procedures and rationale, preferably through experience with an audit/monitoring background
- Experience of internal and external stakeholder management
- Ability to report review findings in a clear, logical and succinct manner resulting in internal and external key stakeholder buy-in
- Good knowledge of the FCA and its workings
- Experience of working within the financial services sector (preferably general insurance)
- Excellent organisational skills and ability to meet tight deadlines
- Ability to work on own initiative and understand the needs of clients & stakeholders
- Attention to detail
- Take a practical viewpoint and help support effective solutions
OTHER SKILLS REQUIRED
- Customer focused
- Team player and good communicator
- Willingness to take on a variety of tasks
- Results driven & business minded
- Acceptance of responsibility and decision making