Compliance Officer

General:

Division: General Management

Key Relationships: BIdac’s Head of Compliance, Group Head of Compliance, EU Compliance team, Global Compliance Teams, BIdac and BSIL’s Executive Management Team, Underwriters, Finance, Internal Audit, People & Sustainability, Risk Management.

Job Summary: Support regulatory compliance across the Company as it grows in size and complexity. Provide regulatory compliance assistance and assurance. Support the Global Compliance function, as necessary.

Key Responsibilities:

• Support BIdac’s Head of Compliance and wider Compliance team to maintain the Company’s Compliance Framework in order to provide assurance that the Company is compliant with all relevant regulatory obligations.
• Obtain a better understanding of the regulatory requirements applicable to the Company in terms of oversight of compliance with existing legislation and identification of emerging legislation.
• Understand CBI requirements and assist with the CBI attestation process.
• Ensure that any breaches of regulation are recorded and reported to internal and external parties as appropriate, ensuring adequate risk incidents are compiled, review remedial actions and oversee implementation of these actions.
• Support the development and maintenance of relationships with the various regulators, as well as assisting with regulatory communications, applications and inspections, ensuring that any follow up actions are addressed.
• Contribute, coordinate and submit CBI, PRA, FCA, FINMA, IVASS, JFSC and other EEA regulator’s regulatory returns.
• Establish and maintain highly effective relationships with other Business stakeholders, including the Company’s branch network, in the spirit of continuous improvement and to ensure effective compliance information sharing across the business.
• Provide compliance advice to all functions within Beazley, covering everyday queries, licencing, broker onboarding, corporate projects and business initiatives.
• Support the Compliance team to maintain and review the Compliance policies and relevant underlying procedural documents.
• Work with the business to ensure that the Group’s procedures and policies are relevant, appropriate and comply with the relevant regulations.
• Assist second line assurance in identifying areas for compliance review and providing support throughout the review process, where necessary.
• Conduct tailored training with relevant business areas and provide input into system based regulatory and conduct training content.
• Represent the Company’s Compliance function at internal Global Compliance meetings and Group Committee meetings.
• Represent the Compliance function in required Project Working Groups, contributing to ensure the project progresses within agreed timeframes, so enabling the business meet its strategic objectives.
• Assist with the preparation of compliance papers to BIdac’s governance structure.
• Provide regular progress updates in written form to BIdac’s Head of Compliance.

General

It is important that within all your interactions both internally and externally you adhere to Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing – as these values contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:

• Comply with Beazley procedures, policies and regulations, including the code of conduct which incorporates the FCA and PRA and CBI Conduct rules
• Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
• Display business ethics that uphold the interests of all our customers.
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, People & Sustainability or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.

Personal Specification:

• Ability to work at both detailed and summary level.
• Team worker as well as able to work on own initiative.
• Outcome focused to a high standard
• Being willing to attend meetings and discussions with the business at short notice and be part of a team working through issues and ideas to come up with practical, commercial solutions.
• Able to communicate effectively with others, both verbally and in writing, ability to be able to listen.
• Strong organisational and planning skills.
• Ability to be adaptable to changing circumstances.
• Able to manage uneven workload, respond quickly to ad hoc queries from the business.

• Compliance/regulatory/legal experience in insurance underwriting / insurance broking or financial services preferable.
• Knowledge of EU, CBI & PRA/FCA regulatory requirements

• Delivery focused, self-motivated, flexible and enthusiastic
• Professional approach to interact successfully with managers and colleagues
• Strong attention to detail

• Team working
• Information seeking
• Problem solving
• Effective communicator
• Achievement orientated
• Personal Impact
• Leadership
• Organisational awareness