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Compliance Officer

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Hiscox USA

2mo ago

  • Job
    Full-time
    Senior Level
  • London
  • Quick Apply

AI generated summary

  • You must have extensive insurance knowledge, understanding of PRA/FCA regulations, expertise in economic sanctions, and strong interpersonal skills for effective judgment and decision-making.
  • You will advise on compliance matters, review regulations, respond to queries, conduct training, support project initiatives, and foster a strong compliance culture while monitoring financial crime issues.

Requirements

  • In depth knowledge of and experience in insurance is essential.
  • Detailed knowledge and understanding of relevant regulatory requirements, including PRA and FCA rulebooks and insurance licensing.
  • Detailed knowledge of economic sanctions, including controls, investigation, assurance and monitoring.
  • A strong inter-personal skills, judgement and decision-making ability, and a determined and proactive approach.

Responsibilities

  • Lead the provision of high quality and timely advice on propositional developments, new business opportunities and regulatory change initiatives, always ensuring a strong focus on good customer outcomes.
  • Act as a trusted advisor and point of contact to internal stakeholders on all matters relating to compliance, adopting a proactive approach.
  • Lead the review of regulatory publications and interaction with trade bodies on specific topics.
  • Lead the response to general queries raised by business stakeholders on the PRA/FCA Handbooks and Hiscox compliance related policies and procedures.
  • Identify and propose improvements to the control environment to support the consistent delivery of good customer outcomes.
  • Assist with the coordination of regulatory visits, requests for information and drafting of regulatory notifications.
  • Produce forward-looking and insightful updates on material regulatory issues for inclusion in management reporting.
  • Lead the production of regulatory training materials.
  • Lead the integration of compliance change projects into 1st line processes.
  • Monitor the Compliance inbox and escalate queries to the UK Head of Compliance or advise the business as applicable.
  • Support and develop relationships with stakeholders at all levels and play a lead role in embedding a good compliance culture and awareness.
  • Investigating sanctions referrals and wider financial crime matters and providing advice to the business.
  • Providing regulatory SME support to project and change initiatives.
  • Preparing Executive and Board level presentations.
  • Investigating regulatory related referrals and providing monitoring and assurance.

FAQs

What is the job title for this position?

The job title is Compliance Officer.

Where is the Compliance Officer position based?

The position can be based in London, York, or Colchester.

Who does the Compliance Officer report to?

The Compliance Officer reports to the Head of UK Compliance.

What are the primary responsibilities of the Compliance Officer?

The primary responsibilities include providing advice on regulatory changes, leading compliance efforts, assisting with regulatory visits, producing training materials, and investigating financial crime matters.

What qualifications are required for this role?

A strong technical background in insurance regulations, in-depth knowledge of PRA and FCA rulebooks, and experience with economic sanctions are required.

What personal skills are essential for the Compliance Officer position?

Strong inter-personal skills, judgment and decision-making ability, and a proactive approach are essential.

Is there an emphasis on stakeholder communication in this role?

Yes, strong communication skills are essential for articulating compliance positions clearly and building relationships with senior stakeholders.

What is the culture like at Hiscox?

The culture at Hiscox encourages creativity, challenges the status quo, and emphasizes trust and autonomy among employees.

What benefits does Hiscox offer employees?

Benefits include a bonus, contributory pension, 25 days annual leave plus 2 Hiscox days, a 4-week paid sabbatical after 5 years of service, private medical coverage for the family, and more.

Is there any flexibility in work arrangements?

Yes, there is a hybrid working model that allows for a balance between office structure and remote independence.

Does Hiscox prioritize diversity and inclusion?

Yes, Hiscox is committed to diversity and creating an inclusive culture, which they believe drives success.

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Hiscox USA

Encourage Courage

Finance
Industry
1001-5000
Employees
1901
Founded Year

Mission & Purpose

Hiscox USA is a growing specialty insurance company with offices across the US. Hiscox USA is part of the $3 billion Hiscox Group, with over 100 years of history and 31 offices in 14 countries worldwide. We Encourage Courage among our customers, partners and employees and challenge US businesses to do more and be more. Hiscox USA's portfolio of specialty risk solutions include insurance covering a broad spectrum of professional E&O, GL, cyber & data security, media liability, entertainment production risks, D&O and management liability, crime, kidnap & ransom, terrorism and commercial property products.