Senior Sanctions Specialist

Velonetics represents the joint ventures between DXC Technology, the International Underwriting Association (IUA), and Lloyd’s of London. Previously referred to as the London Market Joint Ventures, we have been operating for over 20 years in the London market (Lloyd's and Company), in both the insurance and reinsurance business. Processing over £101 billion worth of premium and claims transactions today, we are building a new digital platform and services that will enable our customers to move transactions and money through the processing lifecycle with greater efficiency and speed, releasing time to drive innovation and focus on higher value activities.

Job Overview:

We are looking for a mid-level 2nd line Compliance Officer to support our compliance function, which services the London Market Account through Velonetic.

We have a sanctions compliance program in place for our processing activities, which allows Velonetic to review the business we process for sanctions compliance. We aim to comply with all relevant US, UK, UN and EU sanctions. We require a self-motivated and experienced senior professional who can read and interpret sanctions regulations and changes, understand their impact on Velonetic and write work instructions and controls to ensure compliance. In addition, you will be required to undertake complex case review. A good understanding of the London Insurance Market is required.

Key Responsibilities:

• Horizon Scanning: participate in the process as required, understand changes recommended by Sanctions SMEs and then prepare written updates to work instructions, including appropriate controls.
• Monitoring and testing: undertake independent monitoring and testing as per the agreed schedule. Write and agree the terms of reference. Select the testing
• samples. Undertake and manage completion of the fieldwork. Complete final reports including recommendations and actions. Update work instructions and controls as appropriate following any findings
• Process improvement: using London Market insurance knowledge assist with driving improvements both within compliance and across operational teams for sanctions related processes, including updates to work instructions and controls as required
• Change control: document key changes as part of the change control process. Work with other stakeholders to complete the change request process. Implement any changes as required including updates to the work instructions, controls and training materials
• Process design: develop and document processes to support business and technical change projects as required
• Support the Compliance Function at Velonetic in providing advice to the business in response to sanctions case referrals (and provide final analysis) for claims and premium processing requests, in line with OFAC, OFSI, UN and EU sanctions
• Support the Sanctions Review team in Operations with queries to ensure consistent sanctions approach, and lending sanctions expertise
• Liaise with external and internal stakeholders on sanctions issues. The external stakeholders are our customers, mainly sanctions compliance staff at the brokers

Essential Skills & Qualifications:

• Knowledge of and experience with OFAC, OFSI, UN and EU sanctions laws and regulations
• Experience working in a compliance or legal setting
• Ability to write work instructions and process flows
• Process design and analytical thinking. Attention to detail
• Ability to make final decisions on sanctions queries
• Must be able to work independently
• Demonstrable London Market (Lloyd’s and Company) knowledge - products and processes

Desirable Skills/Qualifications:

• Experience in insurance or banking
• Legal qualifications desired, not required
• Ability and experience working in a global organisation

Location:

• Virtual/Home based. (There may be an occasional requirement to visit our Chatham offices in London, but travel expenses can be pre-approved).

What we can do for you:

• Competitive compensation
• Pension scheme
• DXC Select - (benefits package)
• Perks at Work
• DXC incentives

Investment In Training and Development

We offer a comprehensive range of training and career development opportunities, a structured induction programme, tailored job training as well as mentoring and support for relevant sponsored professional qualifications. We’re developing an?environment where people can?grow?and harness their careers and skills to be the best that they can be to focus on the long term.

Our Culture

Here at Velonetic, we support with care and compassion. We are constantly evolving our initiatives around equality, diversity, and inclusion to ensure that everyone feels equally involved and supported in the workplace no matter of who they are or what they do. We are proud of the culture we are creating to ensure that our commitment is ongoing and have a diverse mix of employees working within an inclusive environment and culture to create a high performing workforce led by talented leaders. We aspire to be recognised for our innovative and modern thinking approach.

Employee Benefits

As part of our competitive remuneration package, flexible benefits are available. There is an option to "flex up and down" on specific benefits, for example buy or sell annual leave, Private Medical Benefit, Dental and Travel Insurance.

You will also have access to 'Perks at Work’, a discount store to purchase gift cards at reduced rates and get discounts on holidays, restaurants, activities, groceries and more.