Compliance Officer

Start date: After notice period DOE London

Role Summary

Our ambition is to be the best insurance business in the world and due to our continued growth and investment, we are looking to recruit another Compliance Officer to join our growing compliance team.

This role sits within the advisory section of the team. The Compliance Officer will be responsible for supporting the Group Head of Compliance and the Compliance Team in ensuring the Aventum Group companies comply with all relevant regulations and legislation applicable in the general insurance and reinsurance sector.

This role will suit an individual who is personable and meticulous, comfortable taking ownership and initiative when working independently and alongside the wider business when needed. The candidate must have excellent communicative abilities, able to provide clear, concise guidance and advice to the business both verbally and in written form.

The successful candidate should have a strong understanding of the FCA’s handbook, rules and guidance applicable to (re)insurance, with particular experience working within a reinsurance or Lloyd’s broker.

Roles & Responsibilities

  • Be a point of call for the internal day-to-day compliance queries, particularly concerning reinsurance and Lloyd’s requirements.

  • Ensure Lloyd’s systems such as Atlas, DAM are appropriately updated.

  • Support the Group Head of Compliance in ensuring that the firm’s activities comply at all times with both its internal procedures, FCA and other legislative requirements.

  • Guide the firm and key stakeholders to enable them to understand their regulatory responsibilities and the implications of any change.

  • Take an active role in projects for the implementation of new regulatory regimes, such as the Consumer Duty within the firm.

  • Partake in external coverholder audits.

  • Assist in the design, drafting, review and implementation of the firm’s compliance policy documents and procedures.

  • Provide training sessions to the business on core compliance topics.

  • Collate and prepare data for the production of management information packs and suggest improvements to processes as a result.

  • Assist with all data protection matters within the business.

  • Ensure the firm meets its financial crime prevention responsibilities, including but not limited to: anti-money laundering, anti-bribery & corruption, financial sanctions, politically exposed persons, etc.

  • Provide advice to the business in response to sanctions case referrals (and provide final analyses) for claims and premium processing requests, in line with OFAC, UK, UN and EU sanctions.

  • Support the firm to ensure that adequate records are kept throughout the organisation to demonstrate compliance with FCA requirements and to facilitate regulatory reporting.

  • Ensure that all staff are aware of, and comply with, the firm’s own procedures and all relevant FCA requirements concerning selling practices.

  • Provide clear, unambiguous written and oral feedback in response to requests for advice/guidance on regulatory matters presented by the business.

  • Partake in the negotiation to finalise the content of TOBAs

  • Support the Group Head of Compliance with ensuring the firm has the appropriate local and international licences and permissions.

Role Requirements

  • At least 1-3 year’s relevant compliance experience within the (re)insurance and Lloyd’s market. Ideally having worked in a compliance role in a reinsurance or Lloyd’s Broker.

  • A strong understanding of the FCA’s and Lloyd’s rules and guidance particularly applicable to the (re)insurance sector.

  • A personable individual who is keen, willing to learn and comfortable working in a diverse, face paced environment.

  • High attention to detail.

  • Preferably educated to A-level standard or equivalent.

  • Good level of IT literacy particularly in Excel and Word.

Apply now

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