The insurance industry is always evolving. And our job within Business Risk and Compliance is to stay one step ahead. Ensuring that we’re well placed to respond to any market changes, we advise the business of current and emerging regulatory requirements, so that each of our processes, activities and structures comply.
Our Risk Assurance team is part of Risk and Compliance, and our second line of defence. Within Risk Assurance, we show directors, Significant Influence Approved Persons, shareholders and all our associated subsidiaries that we’re managing current and emerging operational risk and complying with all regulatory, claims and underwriting controls.
Jobs within Business Risk and Assurance
Regulatory Risk Assurance
We provide assurance on our compliance with all UK regulatory requirements.
Operation Risk Assurance
Operational Risk is focused on people, process and system related exposures.
Assurance here focuses on Sarbanes-Oxley (s.404) (SOX) requirements, defined by legislation for firms listed on the US Securities and Exchange Commission (SEC).
Underwriting Assurance teams provide independent confirmation to our management team that our business is being underwritten correctly.
Claims assurance requirements focus on our cost efficiencies and compliance with corporate standards and contractual obligations to partners and other third parties.
Jobs within Business Risk and Compliance
Our Upstream Risk team monitors, reports on and liaises with business areas to ensure that technical developments and new regulatory requirements are implemented quickly.
Our Regulatory Advice team maintains a strong relationship with the FSA, reports on levels of compliance with new and existing regulations and develops governance policies on them.
Compliance Management Information (MI)
Within compliance MI, we develop, maintain, analyse and report appropriate MI to enable our senior management teams to maintain an accurate overview of our compliance performance.
Privacy and Data Protection
We advise on and support the entire business on compliance with data protection and linked legislative and regulatory requirements around privacy.
What we look for within Risk
We ask for audit or testing experience, as well as skills gained from working within a risk management environment. Able to adapt to any situation, you’ll have the confidence to think innovatively, challenge the status quo and influence a range of audiences.
What we look for within Compliance
Highly organised, proactive and a team player, you won’t be afraid to look at how we do things and make changes that will ensure our future success. For management roles, you’ll also need compliance experience, and ideally an understanding of risk management and its processes.
Training and development
On-the-job training is a way of life within Risk
, in addition to online courses focused on various risk disciplines and the support to gain professional qualifications such as CII, IRM and ACCA. Within Compliance
, our tailored three-week induction programme includes several computer-based training modules to help build a strong understanding of risk. We also sponsor people to gain professional qualifications that will benefit our business, such as CII and CPA.
As risk assurance activities span the breadth of our business, jobs within Risk provide the chance to develop our overall business knowledge and commercial approach – as well as a career within Risk, Audit or Compliance. Join the Risk Assurance team and you’ll benefit from a structure that starts at executive level and works up through consultant level to senior management. The sheer scale of our business means that Risk and Compliance can open a number of doors – to progress both vertically and across our business.
You can read a blog post from one of our Compliance colleagues, Pamela, here
. Or you can watch Pamela's video here