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Conduct Risk Manager

London, United Kingdom, £ £ 60000.00-75000.00 Annual Annual, Permanent


Role: Conduct Risk Manager

We are looking for an experienced Conduct Risk Manager to work for our Client a Gobal Insurer in London

Position Overview

This is a first line defence role reporting to the Operational Underwriting Manager within the Underwriting Performance and Governance department. The role is focused on driving the development and continuous improvement of the approach to internal control of regulatory and conduct risk by acting as an embedded independent challenger, advisor and partner to support the business on Conduct Risk, Product Governance and Regulatory Compliance. This includes assisting in developing the mechanisms that enable our business to operate in a compliant and ethical manner and ensuring good customer outcomes such as our Conduct Risk Framework, Product Governance Framework and any other relevant policies and procedures.

Essential Job Functions:

Engaging the business functions and supporting the continued improvement of the Conduct Risk Framework, Product Governance Framework and Delegated Authority Framework to ensure the firm achieves its Conduct Risk Appetite. Specific duties include but not necessarily to:

  • Advise and support the business functions on:

o Analysing conduct risks in the business

o Oversight of risk controls and performance of associated metrics

o Applicable regulatory conduct requirements and any changes to these

o Regular review of products o Review of Product Governance and Conduct controls of delegated partners

o Overseeing the amalgamation of Conduct MI and reporting up to committees

o Taking actions on issues arising from conduct MI;

  • Monitor the business\' adherence to applicable internal policies and procedures;
  • Lead and develop conduct risk reporting and other relevant compliance MI to the Conduct Committee and relevant governance committees relevant in the allocated areas;
  • Own the Product Governance Process;
  • Work closely with the QA, Delegated Authority Due Diligence, Coverholder Audit, Claims and Complaints teams to deliver a best in class 1st line control framework;
  • Refine and streamline process under the frameworks such that the department can continue to support the business in the most efficient but compliant way possible;
  • Support of the Delegated Authority Framework in respect of Conduct risks, Product Governance and regulation;
  • Use the frameworks to effectively monitor and report against agreed Conduct and Operational risk appetites set by the Executive Committee and Board
  • Drive/support the remediation of operational/conduct incidents and potential breaches to ensure risk appetite is maintained and outcomes to customers are fair;
  • Support the CUO, Underwriting Performance & Governance Manager and Operational Underwriting Manager in ensuring the effective operation of the key governance committees (Product Governance Committee, Delegated Authority Committee and Conduct Committee);
  • Ensure relevant actions and decisions are recorded, followed up and reported to Committees;
  • Lead the Product Oversight Group (POG) including the driving and resolution of actions with the Underwriting and Claims teams and provide MI and reporting to PGC and DA Committees;
  • Deliver training to 1st line teams on Product Governance, Conduct and any regulatory changes affecting them;
  • Provide assurance and reporting to the 2nd line of defence Compliance team to facilitate effective conduct risk oversight and reporting of regulatory breaches in accordance with regulatory requirements as well as escalating to them for technical advice as required;
  • Lead and drive regulatory change projects from a business point of view;
  • Support business change projects from a Conduct risk stand point;
  • Carryout other duties to meet the on-going needs of the organisation

Qualifications, Experience, Competence:

  • Degree educated (preferable)
  • ACII qualified (preferable) Experience
  • 8+ year\'s experiences of FCA regulation in business providing or distributing products to retail consumer, ideally through general insurance;
  • Experience of high Conduct insurance products such as A&H, Warranty and BTE an advantage; Functional/Technical Competencies
  • Service / business enabler mentality being solution orientated
  • Reputation for independence and ethical decision-making
  • Expert understanding of General insurance regulations specifically ICOBS, PROD 4, Conduct Risk and financial promotions
  • Ability to interpret regulations and provide practical context
  • Highly organized
  • Strong communication
  • Excellent Microsoft Office skills
  • Ability to deal with all levels of the organization

Job Details

Not Specified
London, United Kingdom
£ £ 60000.00-75000.00 Annual Annual