Senior Compliance Manager

at  Ascot Group

Assist the Head of Compliance with the following:

• Making sure systems and controls are in place to ensure that Ascot’s operations in the UK and Bermuda are compliant with all of:
• Lloyd’s of London (“ Lloyd’s ”);
• The Prudential Regulatory Authority (“ PRA ”);
• The Financial Conduct Authority (“ FCA ”);
• The Bermudan Monetary Authority (“ BMA ”); and
• Other regulators’ requirements.
• Acting as a senior compliance professional and ensuring the Compliance Team is responsive to and supportive of the business.
• Helping the Compliance Team to support, understand and advise the business in a proactive, open and transparent manner, balancing regulatory and commercial requirements.
• Operating as a regulatory subject matter expert and keeping abreast of all regulatory activity across relevant jurisdictions. Making sure all areas of the business meet applicable regulatory requirements.Reviewing policies, procedures and associated systems and controls to ensure they are working efficiently and effectively

JOB PURPOSE:

To work closely with the Head of Compliance of Ascot Underwriting Limited (“ AUL ”) and Ascot Bermuda Limited (“ ABL ”) in implementing the compliance framework and related compliance activities in London and Bermuda.
Act as a senior member of the Function to help implement and embed the compliance framework, execute the annual compliance plan, oversee related policies, procedures, processes and controls and assist the Head of Compliance to manage the Compliance Team.
The Senior Compliance Manager will work across departments to proactively develop positive relationships as they help embed the compliance framework and execute the annual compliance plan.

DETAILED DUTIES:

Assist the Head of Compliance with the following:

• Making sure systems and controls are in place to ensure that Ascot’s operations in the UK and Bermuda are compliant with all of:
• Lloyd’s of London (“ Lloyd’s ”);
• The Prudential Regulatory Authority (“ PRA ”);
• The Financial Conduct Authority (“ FCA ”);
• The Bermudan Monetary Authority (“ BMA ”); and
• Other regulators’ requirements.
• Acting as a senior compliance professional and ensuring the Compliance Team is responsive to and supportive of the business.
• Helping the Compliance Team to support, understand and advise the business in a proactive, open and transparent manner, balancing regulatory and commercial requirements.

• Operating as a regulatory subject matter expert and keeping abreast of all regulatory activity across relevant jurisdictions. Making sure all areas of the business meet applicable regulatory requirements.Reviewing policies, procedures and associated systems and controls to ensure they are working efficiently and effectively.

Compliance

• Embedding the compliance framework and all relevant systems and controls.
• Assisting with the design of an annual Compliance Plan.
• Executing the annual Compliance plan with support and assistance from the Compliance Team.
• Drafting and providing regular updates to the Head of Compliance about progress against the annual compliance plan.
• Ensuring that training and development regarding compliance matters are in place for all Ascot staff and adhered to (for example in areas such as Conduct Rules, Whistleblowing, Sanctions and Financial Crime, and Business Ethics). Working with the HR department to manage a documented training programme, tailored to meet regulatory requirements.
• Employers Liability Register Maintenance & Audit – Act as primary Compliance Team lead on ELTO matters including overseeing the annual Ascot’s Employers Liability Register Annual audit process, liaising with external auditors, and any associated remediation.
• Overseeing the management of Ascot’s SM&CR framework, including advising on the allocation of functions and prescribed responsibilities and handling all applications to Lloyd’s, the PRA and the FCA, as required.
• Assisting with the design of a compliance monitoring programme to provide assurance and ongoing reporting of key compliance and business risks on a range of issues including:
• New broker applications and adherence to credit limits;
• Licensing restrictions and international trading requirements;
• Ascot’s underwriting authority control and monitoring framework;
• Ascot’s sanctions screening processes;

• The conduct pre-bind questionnaire/contract certainty processes; andThe complaints handling processes and procedures.

Culture

• Supporting the promotion and development of a culture of proactive compliance within Ascot. Proactively engaging with the business to support and enable growth in a compliant manner across underwriting divisions.
• Supporting the development of an open and cooperative relationship with Lloyd’s, the PRA, the FCA, the BMA and other regulatory bodies.

• Developing positive relationships with, and working closely with key stakeholders within the Function, with Legal, Risk, Delegated Authority, senior underwriters, their teams and the business.Maintaining a proactive, positive, and open working relationship with the Head of Compliance to ensure there are no gaps in the division of responsibilities. All matters of concern must in the first instance be escalated to the Head of Compliance.

Management

• Managing 1 (one) or more direct reports from the Compliance Team. Direct line management responsibility includes annual appraisals, setting objectives, provision of feedback, approving annual leave.

• Proactively developing the Compliance Team’s skills and experience through ongoing advice and feedback (both formal and informal) and leading by example.Working with the Head of Compliance to develop a responsive, proactive, professional and skilled Compliance Team.

Reporting and Governance

• Drafting appropriate Board, Committee or other governance papers on range of compliance or regulatory matters as required. This includes the provision of papers for the:
• AUL Board
• AUL Risk Committee
• AUL Executive Committee
• ABL Executive Committee

• Any other Board, Committee, governance bodies or meetings as required and directed by the Head of Compliance.When required, attend any Boards, Committees, governance bodies or meetings to represent the Compliance Team.

• Financial Crime
  Work closely with the Financial Crime Manager and their team to help ensure Ascot remains compliant with all appropriate sanction legislation as and when it becomes applicable to the business.

Conduct & Complaints

• Work closely with the Conduct & Complaints Manager and their team to help ensure Ascot adheres to all relevant conduct risk and consumer duty requirements and continues to place needs of the customer at the heart of Ascot’s business.
• Advise on any submissions or regulatory returns to Lloyd’s, the FCA or any other regulator relating to consumers, conduct risk matters or eligible complainants when and if required.