Compliance Analyst

At Munich Re Specialty Group (MRSG), individuality and intellectual curiosity is a key driver for our success and innovation. We believe that leveraging a variety of perspectives and backgrounds, and empowering all employees to make an impact, will motivate us to perform at our best and give us a competitive edge. We know there is always more work to be done, but we’re committed to building a strong and inclusive culture where everyone is welcomed and valued for their “own expression of self-identity”.

About us

MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.

As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan and Dubai.

Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.

Compliance Analyst

• As a member of the MRSG Compliance Department, assist in making appropriate arrangements for compliance activities throughout the organisation to meet Solvency II, FCA, PRA, Lloyd’s and other applicable regulatory standards.
• Support the Compliance Managers in providing Compliance oversight, support and challenge to MRSG Appointed Representatives, and other key third parties, working with subject matter experts within the Risk & Compliance function as appropriate.
• To provide compliance support and administration to the Compliance Department

The Role

• The Compliance Analyst will be required to effectively partner with all levels of the organisation to provide compliance advice and business solutions in a variety of areas, including:
• Support the Compliance Manager (Third party oversight) in ensuring effective second line oversight of any Appointed Representatives, Introducers and Introducer ARs
• Help to identify, and mitigate exposure to regulatory risk, this will include notifying and reporting and evaluating their impact on partners.
• Work collaboratively with the Compliance Manager, the business, Legal Risk and Compliance team members to ensure the best outcomes to resolve issues are implemented.
• Assisting in drafting, implementing and reviewing of frameworks, policies and procedures.
• Actively promote a compliance culture internally and externally when interacting with third parties/stakeholders
• Ongoing support to the first line of defence and key third parties regarding compliance obligations
• Supporting the wider team in running the compliance strategy
• To assist with the delivery of Compliance and business led projects and other ad hoc requirements as and when needed to assist the Compliance team.
• Work closely with key functions, such as Delegated Authorities, Underwriting, Claims and Complaints teams to ensure ongoing compliance.
• Provide advice to marketing teams on financial promotions
• Assist in preparing MI and reports to Senior Managers where necessary
• Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
• Keep up to date with regulatory changes pertinent to the business and enforced by the FCA or other regulatory bodies
• Along with the Compliance Manager and Conduct Risk team provide regular monitoring of conduct MI from third parties to identify conduct risks and undertake customer outcomes assessments and propose mitigating actions.
• Understand all appropriate lines of escalation and the responsibilities of the various committees, forums, ExCo and Board for Conduct Risk.
• To carry out compliance monitoring reviews as required.

What we are looking for

• Strong knowledge and experience of FCA conduct regulations, specifically Appointed Representative Regime, Consumer Duty, ICOBS, PROD 4, DISP, etc.
• A good understanding of the current regulatory environment
• Strong communication skills at all levels
• Ability to identify regulatory and compliance requirements, provide practical context and support their implementation
• Solution orientated mentality, with reputation for acting with integrity and ethical decision-making
• Self-starter and highly organised
• Proactive, personable approach with the ability to build relationships to implement change
• At least 3 years work experience within a regulatory compliance function

Qualifications

• University Degree and/or relevant professional qualification

Your career with us

At MRSG, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more!

Diversity & Inclusion

Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.

Working together, we are an employer of choice by building the workforce for today and the future.We make it happen. Together.

Push Boundaries. With us. | Munich Re