Purpose of the Job
To assist with the applications of the Company's Product Oversight and Governance policies and procedures in the design, approval, marketing and management of products and schemes, throughout the product lifecycle, ensuring legal and regulatory requirements are met, product value is maximised and appropriate client outcomes are delivered.
Job Accountabilities
- Assist with the completion of annual product and product oversight and governance reviews for products and schemes.
- Assist with management and reporting of conduct risks from Underwriting.
- Assist with embedding any regulatory changes into current suite of products including the underwriting and associated processes.
- Undertaking and monitoring compliance-based projects for the Underwriting Team and conducting the change that may come from these.
- Undertake regular reviews of the product range and conduct regular competitor analysis to boost and maintain the position of the company within the market.
- Assist with ongoing maintenance of product literature, including Policy Wordings, IPID's
- Overseeing product, policy and process controls ensuring as a first line of defence risks are managed with appropriate risk mitigation in place including new product initiatives
- Support the execution of remediation with timely and effective outcomes against regulatory expectations
- Incorporate lessons learned to enhance process and guidelines
- Update on-going reports providing metrics and updates for monitoring progress and updates to senior management and or business partners
- Escalate risks to the relevant Manager, when appropriate
- Create ad hoc reports, MI and presentations, as necessary, for socialisation and periodic updates
- Assisting with projects as and when required including any due diligence of products in association with capacity providers and product oversight requirements for onboarding of new relationships and the management of existing relationships.
- Partner with key stakeholders and subject matter experts across the organisation (business and functions) to accomplish strategic goals
General Duties
- To comply with all applicable regulatory and legislative requirements, including
o UK - FCA compliance including compliance with UK SM&CR and Group Code of Conduct policies and processes
- Maintain CPD (Continuing Professional Development) on an ongoing basis as applicable for role.
- Maintain and enhance the Company's reputation through excellent standards of professional conduct, in line with Company policy and procedures, compliance and Core Values.
- Comply with all company policies and procedures, including health and safety procedures.
- Strictly maintain client confidentiality.
- Be an effective, willing and enthusiastic team player.
- Undertake such internal and/or external training as deemed necessary by the Company.
- Any other duties that can reasonably be requested by the Manager or representatives' acting on behalf of and with the permission of the Manager.
Education:
- 5 GCSE's grade C or above, including Maths and English (or equivalent).
- Working towards, or in possession of CERT CII, DIP CII or ACII.
Experience:
- Experience in underwriting in the personal lines market for at least 5 years.
- Insurance market knowledge.
- Experience in using Microsoft applications such as Excel and PowerPoint.
- Experience of analysing data, producing reports and providing recommendations.
- Product knowledge in territories such as ROI
- Experience in conduct, governance based roles
- Experience and working knowledge of EDI and software house products.
Along with our client, we are committed to a diverse workforce and as such recruit from a wide available pool of talent, with the hiring, assessment and selection process being fair, free from bias and one which ensures the right person is selected for the job, based on merit. We treat colleagues, candidates, clients, and business partners with equality, fairness and respect, regardless of their age, disability, race, religion or belief, gender, sexual orientation, marital status or family circumstances.
A copy of our D&I policy can be made available upon request.