Head of Regulatory Risk - Fixed Term Contract till March 2019 (Exclusive)

Recruiter
Richard Abelson
Location
North West England
Salary
£125,000 - £140,000 + benefits
Posted
20 Jul 2018
Closes
19 Aug 2018
Ref
RA/14783
Job Sector
Compliance
Experience Level
Department Head
Contract Type
Contract, Full time

Our client is a long standing and well-respected General Insurance firm. The successful candidate will assume the role of SMF16 / SMF17 and lead and develop the Regulatory Risk unit to provide an effective control framework including systems and processes to ensure that current and future exposure to regulatory risk is identified, measured, managed, and mitigated or eliminated, and that there is a focus on treating customers fairly and delivering appropriate customer outcomes. 

The role

  • Lead and develop the Regulatory Risk unit to provide an effective control framework
  • Hold the MLRO role and oversee Fraud Risk
  • Lead and oversee the assurance for the continuing embedding of regulatory frameworks and delivery of ongoing monitoring to maintain compliance (e.g. TCF);
  • Identify and escalate risk exposures to Risk Owners, Directors and business management on a timely basis and monitor that action plans are in place to address the risk;
  • As a member of the Senior Management Team, contribute risk input to the strategic plan;
  • Lead, motivate and develop the team within the Regulatory Risk unit to ensure an effective working environment, employee commitment and consistently high performance;
  • Oversee and challenge the setting of Regulatory Risk Appetite and Policy with the appropriate committee as defined in the Risk Management Policy, outlining the rules and limits by which the business will operate;
  • Ensure that Regulatory Risk is managed in line with risk appetite and policy and evidenced through appropriate MI and reporting demonstrating that this approach is robust;
  • Establish an independent and adequately resourced Regulatory Risk function with sufficient authority to allow it to meet its responsibilities effectively;
  • Lead, advocate and role model the risk management framework and positively contribute to the embedding of a risk-based culture, coach, influencing and challenging all colleagues to take personal accountability for risk-based decision making.
  • Influence and challenge business direction and strategy by providing timely regulatory and statutory requirements including industry best practice and competitive insights and trends to enable the business to make effective risk-based decisions.
  • Independently challenge and influence Board, Executive, peers and colleagues in relation to risk management; and
  • Oversee and engage with the product design and approval process and provide review and challenge to new and existing product development and compliance.

Requirements

  • Substantial knowledge and experience of managing Regulatory Risk
  • Data protection experience
  • In depth understanding of the regulatory environment, preferably in the UK General Insurance sector. 
  • In depth, up to date knowledge of internal and external TCF developments and practices.
  • Motivates, inspires the team and its members to perform and add value to the team and to the broader                 firm
  • Confident and comfortable communicating with teams and individuals across all hierarchical levels.
  • Significant TCF experience and ability to translate complex regulation into practical policies and advice.

They are looking to appoint someone on a Fixed Term basis until at least March 2019.  Salary will be commensurate with experience but will reflect the significance of the role.  They are looking to make an immediate appointment ideally within the next 4 weeks, so the ideal candidate will be readily or almost readily available.

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