Group Compliance Director
We are Direct Line Group – home to some of the country's best-known brands including Direct Line, Churchill, Privilege, Greenflag, and NIG. Our vision is to create a world where insurance is personal, inclusive, and a force for good, and our purpose is to help people carry on with their lives- giving them peace of mind now and in the future.
To help us deliver on this vision and purpose, we're transforming our systems, products, and services, and positioning ourselves as a challenger brand that disrupts the market and innovates for the future. We're already award-winning across several of our brands, but we want to continue this success. Aligned to the wider business transformation, the Risk & Compliance function is reviewing its practices to ensure that we continue to effectively deliver on our responsibilities, while considering new ways of working and ensuring we are positioned for success in a data and technology enabled future.
Since the start of 2022, the Risk & Compliance function has embarked on a 2-year transformation journey with the aim to reposition and rebrand Risk through a re-energised vision and leadership team, as well as scaled up capabilities through investment in our people and in technology. We are on a journey to make DLG Risk Positive and our team a Force for Good core to achieving DLG's strategic goals. Our journey covers people, culture, frameworks and processes and technology. And so, we're looking for someone to join us in creating a high-performing 2nd line Compliance function as a Group Compliance Director.
Reporting into our Chief Risk Officer, you will support her in developing and implementing a 3-5 year ambition and roadmap for change, to accelerate and join our community of Risk & Compliance professionals and most importantly, to help maintain DLG's organisational resilience and regulatory compliance as it continues to transform in pursuit of its strategic ambitions over the next few years.
What does this role involve?
As Group Compliance Director, you will oversee the Compliance Advisory and Compliance Monitoring functions and define, implement, and lead our Risk strategy to ensure DLG remains organisationally resilient while supporting the delivery of DLG's priorities and transformation. In addition, you will be asked to lead the modernisation of Compliance, promoting efficiencies and data-driven risk management and insights.
The Director of Compliance must be an experienced professional who is able to set a clear strategy across Compliance teams, they will:
- Hold the regulatory accountability for SMF16: Compliance Oversight and associated prescribed responsibilities for UK Insurance Limited, Churchill Insurance Company Limited and U K Insurance Business Solutions Limited
- Develop, implement, and oversee an appropriate process to ensure compliance with the Senior Manager and Certification Regime (SM&CR) and develop and deliver insurance-specific compliance-related policies, processes, and tools
- Develop and maintain a two-way proactive, transparent, open, and constructive relationship with the UK regulators which, amongst other things, includes ensuring
- Act as the main conduit for the flow of all communication and information to and from the Regulators (PRA, FCA, ICO) ensuring its accuracy
- Ensure all information requested by the regulators is provided in a timely and appropriate manner; and
- Ensure the business is appropriately briefed on current regulatory issues/themes prior to all formal engagements with the regulator – maintaining an open and transparent relationship with both the PRA and FCA while supporting and advising the Board and Executive Committee (ExCo) members
- Promote a positive Risk Culture including driving risk ownership in 1LOD, providing risk advice, insight, and tools to help to make conscious risk-based decisions in line with our risk appetite and regulatory obligations
To lead the Compliance function effectively, you need to have enthusiasm and natural curiosity to keep up-to-date with the regulatory and legislative requirements and change initiatives, with the ability to translate this into future-based, pragmatic advice to help inform the strategy for a fast paced, changing business.
People leadership is an essential a part of the role, both direct people management as well as influencing at ExCo and Board Level and inspiring others across DLG and wider in the industry. You will also have a desire to build a training and technical competence framework for Compliance, ensuring the Compliance function is appropriately knowledgeable and expert, and is able to deliver accurate and constructive advice to the business.
What We're Looking for
- Significant experience within Compliance within a regulated insurer or financial services organisation, with particular experience of operating at Executive level
- Deep working knowledge of the external legislative and regulatory environment associated with the Group's products, services and markets across multiple business lines, legal entities and/or geographic regions.
- Strong experience in dealing effectively with regulators and a high-level involvement with industry organisations in SMF16 (or similar) capacity
- Proven track-record of influencing at ExCo and Board level with excellent communication skills and gravitas
- Ability to work with ambiguity and in an entrepreneurial and fast paced environment, undergoing significant transformational change
- Proven ability to think strategically and to translate concepts into effective processes
- A mature, resilient, energetic, and decisive personality with a strong business-focussed performance acumen and sound confident judgement
Ways of Working
Here at Direct Line Group, we recognise the importance of flexibility, not only in our personal lives but also in the way we work. Our mixed model way of working offers a 'best of both worlds' approach combining the best parts of home and office-working, offering flexibility for everyone.
How much you'll be in the office depends on your role, and we'll consider the flexible working options that work best for you. You can find out more about our flexible working approach or please get in touch with the team to discuss.
Life at DLG
Direct Line Group is an equal opportunity employer. We value diversity and we're committed to making DLG a truly inclusive place to work.
We recognise and embrace that people work in different ways and we'll always adapt as much as possible so you have the best and most comfortable working environment that we can offer. We know you're more than a CV, and the things that make you, you, can bring real potential to DLG.
If you need us to make any adjustments to our recruitment process, speak to our recruitment team who will be happy to support you.