Senior Compliance Analyst

at  Liberty Specialty Markets

SKILLS AND EXPERIENCE

• Relevant professional qualifications and strong academic record
• Good awareness of the regulators’ requirements and preferences based on demonstrable experience in Compliance
• Excellent understanding of the general insurance industry and ideally the Lloyd’s market
• First class people skills and a team player with excellent communication.
• Proven experience and track record of solving problems and delivering solutions to the business.
• Natural project management and a champion of change.
• Able to challenge and be challenged.
• Open/accessible/participative manager
• Analytical with the ability to grasp complex issues quickly.
• Ability to listen, be flexible, but decisive.
• Pragmatic and principled, not dogmatic.

ABOUT THE ROLE:

The Senior Compliance Analyst will play an integral role in the management of LSM’s compliance risks. The individual will work within LSM’s Compliance function and will support the Head of Compliance, members of the Compliance team as well as wider business on various compliance matters.

KEY RESPONSIBILITIES

• Working as a member of the LSM Compliance Function’s Advisory and Assurance Pillar in undertaking its responsibilities outlined above.
• The Senior Compliance Analyst will be expected to represent the Compliance Function at certain governing body meetings, reporting on compliance matters and participating in executive management matters.
• The Senior Compliance Analyst will effectively contribute to putting in place, and the delivery of, an effective compliance monitoring program (included within the Compliance Plan) across LSM businesses and locations. This will include participating in day to day monitoring activity such as ensuring all regulatory deadlines are met.
• Assisting in the oversight of compliance processes to ensure appropriate advice in relation to regulatory matters is provided to the business in an effective and efficient manner.
• Assisting in the oversight of due diligence for a variety of new business opportunities and verify a range of controls across existing operations.
• Assisting on the Compliance Function’s oversight and assurance of the Conduct Risk framework and associated procedures.
• Assisting on the Compliance Function’s oversight and assurance of the Financial Crime framework and associated procedures.
• Supporting the Head of Compliance in managing the regulatory relationship with LSM’s key regulators including the PRA, FCA and Lloyd’s (and relevant overseas regulators).
• Participating in the delivery of an effective LSM compliance training program.
• Assisting the Compliance Officer in supporting and guiding more junior members of the Advisory and Assurance team.
• Work closely with the Compliance team and other relevant stakeholders to deliver change projects effectively and efficiently.
• Support the Head of Compliance in the management of the relationship with Liberty Mutual Group Compliance & Ethics department.
• Lead on and effectively contribute to allocated workstreams and projects to deliver outcomes in line with agreed deadlines, escalating issues promptly.
• Provide concise accurate status updates and trend analysis to the Compliance Officer on a regular basis for relevant tasks and initiatives.
• Collaborate effectively with the wider Compliance Pillars to deliver one efficient compliance function to the wider business.
• Analyse and interpret regulatory updates and changes assessing impacts and actions as relevant to the businesses.
  Adherence to all relevant regulatory requirements forms part of your role, and the demonstration of behaviours as set out in the Conduct Risk Policy, as they relate to your role, is core to LSM’s commitment to placing customers at the centre of our business and behaving with integrity. LSM expects you to understand your responsibilities relating to all regulatory and internal requirements, and to proactively demonstrate compliance with these requirements and behaviours at all times. These requirements including Solvency II, fair treatment of customers, Financial Crime, Data Protection, Conflicts of Interest, and Whistleblowing.

The LSM Compliance Function is a key part of LSM’s internal control framework predominantly within the second line of defence. The role and responsibilities of the LSM Compliance Function includes:

• Establishing an open and constructive relationship with LSM’s regulators (and supervisory bodies). Coordinating and managing this relationship with including, but not limited to, the Prudential Regulation Authority, the Financial Conduct Authority and Lloyd’s;
• Providing advice to the LSM governing bodies on compliance with applicable laws and regulations, and providing advice to the business, for example in the form of policies and procedures or written updates, in relation to applicable laws and regulations;
• Assessing the possible impact of any regulatory development on the operations of the business and working with the business with regard to compliance;
• The identification and assessment of compliance risk, and the development and oversight of an appropriate framework to ensure the management of compliance risk;
• Such a framework will include assessing the adequacy of the measures adopted by the business to prevent non-compliance including monitoring to ensure these procedures are being adhered to;
• Ensuring that LSM’s Compliance Strategy is in line with its broader strategic objectives.
• Working with the business to assess new opportunities and ensuring appropriate control frameworks are established;
• Working closely with Liberty Mutual Group Compliance & Ethics to ensure that the LSM compliance framework is consistent with the framework in place for the Liberty Mutual Group;
• Reporting to the LSM governing bodies in relation to the management of compliance risk including the provision of all relevant management information to allow key decision making to be undertaken;
• For a number of compliance and conduct processes, act as the point of contact for the business for all reporting;
• Working with HR, develop and implement relevant and timely compliance education and training to all LSM colleagues