Head of Compliance

This role:

• Carries operational responsibility for ensuring Barbon’s products and services and how they are delivered are in line with regulatory requirements and the Group’s policies and standards, in order to provide positive and fair outcomes for customers
• Aids the business to grow and succeed in a compliant way, and aims to help the Division achieve the right balance between risk taking and control
• Carries line management responsibility and a requirement to develop a team that delivers operational compliance 1LoD support to the Division, including FCA regulated complaints management.

This role requires a 'hands on’ work ethic, undertakes key activities and manages a small team.

• Act as risk and compliance focal point for Barbon and responsible for supporting delivery on the Divisional R&C agenda
• Manage a team that helps support the business deliver on its priorities and manage escalation of compliance enquiries/issues both within the business and to the 2LoD in a timely manner
• Drive greater ownership of 1LoD decision making through improving knowledge and expertise and developing the appropriate business tools
• Ownership and responsibility for the product governance framework across the division ensuring the group’s processes incorporate the latest legislative and regulatory requirements. This includes product governance reporting to Group, completion of product reviews and management of FVA and TMS for products.
• Work with 2LoD to understand the impact of changes in regulation and deliver on required activity within Barbon
• Promote a collaborative, responsive and solution driven compliance culture that supports business growth

Undertake core risk and regulatory activities including:

• Co-ordinating the review and update of Barbon’s risk and control assessment.
• Undertakes specialist training & competency (including training on key policies and processes) and monitoring the completion of mandatory regulatory training and CPD.
• Ensure relevant controls exist across the business and support/monitor compliance with FCA requirements and Group risk & compliance policies
• Reviewing and ensuring key businesses processes and documentation putting the customer first, and meeting regulatory requirements
• Responding to day-to-day compliance queries in an effective and timely manner
• Undertaking regular 1LoD reviews and reviewing the output of QA reviews to identify deficiencies in local procedures or training and competency, and suggesting appropriate remedies to be undertaken
• Logging managing and monitoring breaches and E&Os in line with FCA service standards & Group policies
• Reviewing and signing-off financial promotions, ensuring communications are compliant and technically accurate
• Reviewing products to ensuring they are in line with product governance requirements and deliver fair value for customers
• Identifying and raising awareness of improvement areas through root cause analysis in respect of FCA regulated complaints and E&Os and ensure these are fed into business training
• Providing information and support in connection with insurer audits and supporting the monitoring and closing out of key remedial actions
• Providing information and support in connection with 2LoD Assurance Reviews and 3LoD Internal

Essential

• A’ Levels
• A minimum of 5 years experience undertaking a similar role within an FCA regulated insurance environment
• Experience of working collaboratively with the 2LoD
• Track record of reviewing regulatory developments and supporting the delivery of regulatory improvements
• Track record of interpreting and applying relevant regulation in a proportionate and appropriate way and discussing/explaining compliance matters in a clear way
• A strong understanding of the regulatory framework in which the business operates.
• Good level of understanding of the FCA handbook including:
• ICOBS
• PROD
• DISP
• SYSC

Desirable

• Degree
• Relevant financial services, insurance or compliance qualifications
• Experience of delivering training
• Experience of project management

Further information:

• As well as a competitive salary we offer the following benefits -
• Competitive holiday allowance with the annual option to buy additional days
• Death in Service benefit of x4 salary
• Company pension scheme
• Enhanced maternity and paternity leave packages
• A flexible benefits package which allows you to add additional benefits to your overall package
• Our benefits portal offers discounts on technology & electronics, cinemas, restaurants, days out, mortgage advice, travel and many more
• Referral schemes
• Discounted rates on PIB products
• We offer a first-class employee benefits and welfare package to support our employees with financial management, cycle to work scheme, counselling support, health screening, will writing, menopause support, books, stopping smoking and much more
• If supporting the local community, engaging with charities and having the opportunity to 'give something back’ interests you, you have the opportunity to take an extra day to support this with a Volunteering day.
• We also offer a wide range of discounts including a kids pass - giving you discount to over 4500 attractions and activities, discounts at hairdressers and beauticians, climate change projects with lots of other options to choose

REF-213660