Compliance Analyst – RMCS Department

Job Vacancy
Nov. 2022

Introduction 

Bell & Clements is a specialist insurance company offering expertise in underwriting, broking and capacity management provisions for Excess and Surplus (E&S) lines insurance solutions. The unique combination of broking and underwriting divisions provides the ability to quote and bind risks through inhouse binding authorities, while providing customers with access to Lloyd’s, US and international markets. Bell & Clements has been part of the Munich Re Group since 2007 and is a registered Lloyd’s broker. There are over 150 staff based across the London headquarters and two U.S offices in Virginia and New Jersey with close collaboration throughout.

Bell & Clements offers industry leading technology solutions that benefit both customers and inhouse processes. Being part of the Munich Re Group enables an inclusive culture that is progressive and ambitious with an established employee benefits program.

Why join us?

We are a responsible employer, a value-adding partner, and an innovative name in the insurance market. Building on a proven industry background over 35 years, we have developed and grown a unique and market-leading brand. As a wholly owned subsidiary of Munich Re, we have access to the expertise, products and risk appetite of one of the largest and most successful insurance groups in the world. Our business is continuing to grow, and a key commitment is to not only expand our team through recruiting new roles but also through development opportunities to ensure we are always supporting our talented experts in their career journey. Our talent pool makes us who we are, and our inclusive culture means we are looking to continue to build our team with broad expertise, diverse backgrounds, and ambitious employees.  Being part of Bell & Clements provides access to multiple health and wellbeing benefits, work and life balance initiatives (including hybrid working),financial wellbeing packages as well as training, development and career opportunities.

The Role - Compliance Analyst

Overview

The purpose of this position is to support the Compliance Officer, the wider Risk Management & Compliance Support Department (“RMCS”) and B&C’s Board of Management team in advising the business and delivering key legal and regulatory obligations to ensure B&C continues to meet its legal and regulatory requirements and effectively manages risk within B&C’s risk appetite.  

Responsibilities

  • Guide and assist the business in delivering the correct outcomes for our clients and key stakeholders whilst ensuring the correct balance is struck between the commercial interests of B&C; the objectives of our regulators and the interests of our clients;
  • Assist the Compliance Officer with identifying, analysing and responding to regulatory change;
  • Work with the Compliance Officer and the business to successfully implement and provide ongoing monitoring of legal and regulatory developments;
  • Compile and deliver compliance training to the business
  • Draft and maintain policies and procedures;
  • Assist with the oversight of the Line One file review process, manage action points arising, oversee drafting of action points;
  • Assist the Compliance Officer with scoping and compiling the annual compliance plan. Assist the Compliance & Risk Manager in delivering compliance monitoring reviews (business unit and thematic) as outlined in the plan;
  • Assist the business as and when required with resolving Line 2 and Line 3 audit action points.
  • Assist the Compliance Officer in managing the Fit and Proper Framework;
  • Assist the Compliance Officer in managing B&C’s risk register;
  • Assist with production of monthly internal reports to Committees of the Board of Management, as well as external reports to key stakeholders;
  • Provide support to other members of the RMCS team as and when needed;
  • Attend market conferences as required to include Lloyd's, LIIBA, etc.; and
  • Complete allocated tasks outlined in the Annual Compliance Plan.
  • To embrace and actively implement the core principles of Continuous Conversations; (Commitments, Feedback and Development) as part of daily activities and with other colleagues;
  • Take ownership of and make personal and professional development a priority as part of Continuous Conversations;
  • In line with Continuous Conversations, establish and achieve development aspirations and needs through the setting of commitments and giving and receiving frequent, constructive feedback (referring to resources provided for support);
  • To abide by the policies and procedures of B&C.

Key Skills and Experience

  • Experience of financial services regulation and operating in a regulated environment is essential, preferably within an insurance broker or insurance company;
  • An understanding of the insurance market and placing process, in particular Lloyd’s of London and binding authorities is essential;
  • Experience with US surplus lines business is preferred but not essential;
  • Good working knowledge of the FCA handbook is essential;
  • Excellent interpersonal and communication skills;
  • Ability to compile, analyse and interpret information as well as present findings to facilitate decision making;
  • Ability to undertake research and investigations and agree resolutions between parties with conflicting interests;
  • Ability to translate regulatory requirements into proportionate policies and procedures;
  • Ability to deliver complex tasks, projects and agreed outcomes on time;
  • Able to work effectively both within a team and individually;
  • Conscientious, positive attitude and self-motivated, with a good eye for detail;
  • Excellent organisational skills;
  • Insurance related qualifications would be advantageous but not essential; and
  • Good working knowledge of Microsoft products.

Benefits

  • This position is offered on a permanent basis
  • Annual salary will be dependent on the skills and experience of the successful candidate.
  • Annual leave - 25 days per year (not including bank holidays), increases with length of service
  • Health & Wellbeing – our offering includes private medical insurance for employees, their partners and their families, a Digital GP service and an allowance of up to £550 per year for any activities and/or equipment which supports health and wellbeing.
  • Hybrid and remote working – to support your work balance we have introduced hybrid working. You will be provided with designated office desk space , with support to work from home up to a maximum of three days per week
  • Flexible working hours – the opportunity to flex your working hours.
  • Professional Qualification Support – (discretionary) financial support covering the cost of professional qualifications, including institute membership, exams, study materials and completion bonuses.
  • Team fun – warm and social culture with regular get togethers

Equal Opportunities

Bell and Clements is an equal opportunities employer and positively encourages applications from suitably qualified and eligible candidates regardless of sex, race, disability, age, sexual orientation, transgender status, religion or belief, marital status, or parental status.

Category: Job Vacancy
Tags: London