Compliance Manager, Finance & Banking

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At Munich Re Specialty – Global Markets (MRS-GM), it is our ambition to become the leading Primary Specialty Insurance provider, underpinned by an effective and adaptable strategy, superior products and industry leaders working in a supportive environment to achieve this.

At the heart of our success is a strong culture where people are encouraged to be present, bold and curious, allowing them to achieve their individual goals.

We are looking for a Compliance Manager to join our Manchester team on a full time basis.

As a member of the MRSG Compliance Department, you will assist in making appropriate arrangements for compliance activities throughout the organisation to meet Solvency II, FCA, PRA, Lloyd’s and other applicable regulatory standards.

You will represent the Compliance function and act as the function lead to provide Compliance oversight, support and challenge to MRSG’s Coverholders, and other key third parties, working with subject matter experts within the Risk & Compliance function as appropriate.

• Ensure on-going compliance with the requirements of Lloyd’s, FCA, PRA, CBI, other relevant regulators, and Munich Re Group as required in conjunction with the Head of Compliance Advisory
• Act as the department lead for oversight, ensuring awareness of Group & regulatory requirements, being the point of contact for the escalation and reporting of any issues or events and provision of support where required
• Provide Compliance support to MRSG management and other internal stakeholders in respect of key third parties, Coverholders and ARs.
• Help to identify, and mitigate exposure to regulatory risk, this will include notifying and reporting and evaluating their impact on partner
• Work collaboratively with the business, legal risk and compliance team members to ensure the best outcomes to resolve issues are implemented.
• Provide training and mentoring support to junior members of the function.
• Where necessary assist the Conduct Risk and Financial Crime teams in assisting on queries and regulatory requirements.
• Responsible for the submission of regulatory returns, notably FCA returns, to ensure timely and accurate compliance with regulatory requirements.
• Respond to audit queries and requests for information from regulatory bodies, internal audit, and other stakeholder and maintain the regulatory correspondence tracker to ensure that all regulatory communications are properly recorded.
• Track, review and manage key regulatory changes applicable to MRSG to identify and assess the impact on MRSG whilst working closely with the business to ensure that all regulatory changes and developments are properly understood, assessed and implemented.
• Develop and review policies and procedures to ensure regulatory adherence and compliance with industry standards.
• Provide face-to-face and virtual compliance training to employees and stakeholders to ensure that they are aware of and understand regulatory requirements.
• Provide compliance support on projects to ensure that regulatory requirements are properly considered and implemented.
• Work closely with the Head of Compliance to develop, implement and maintain the Compliance Plan, outlining the strategy and key objectives each year.
• Manage own workload to ensure internal and external deadlines are met, to agree any extensions with the Head of Compliance and to provide clear status updates on the progress of work and or status of issues.
• Attend Committee meetings/forums as and when requested and to take minutes of the meetings accordingly.
• Assist the Head of Compliance Advisory in alerting the Boards of any regulatory issues or concerns with projects or other subject matter areas
• Support in the review of applicable new and existing external and internal / Group requirements and ensure measures are put in place to comply and processes and procedures updated as necessary.
• Provide ad hoc advice on Compliance matters to the business, if required.

• Relevant insurer experience working in a compliance /regulatory role, ideally experience working in both…