Compliance Manager

Description

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.

Compliance Manager

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 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.

Responsibilities

1. Ensure ongoing 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.
2. Act as the department lead for oversight, ensuring awareness of Group & regulatory requirements, being the point of contact for escalation and reporting of issues or events, and providing support where needed.
3. Provide Compliance support to MRSG management and other internal stakeholders regarding key third parties, Coverholders, and ARs.
4. Help identify and mitigate exposure to regulatory risk, including notifying, reporting, and evaluating their impact on partners.
5. Collaborate with the business, legal, risk, and compliance teams to ensure effective issue resolution.
6. Provide training and mentoring to junior team members.
7. Assist Conduct Risk and Financial Crime teams with queries and regulatory requirements as necessary.
8. Manage the submission of regulatory returns, notably FCA returns, ensuring timely and accurate compliance.
9. Respond to audit queries and maintain regulatory correspondence records.
10. Track, review, and manage key regulatory changes, assessing their impact and ensuring proper implementation.
11. Develop and review policies and procedures to ensure compliance with industry standards.
12. Deliver face-to-face and virtual compliance training to employees and stakeholders.
13. Support compliance aspects of projects to ensure regulatory requirements are met.
14. Work with the Head of Compliance to develop and maintain the Compliance Plan.
15. Manage workload to meet deadlines, providing status updates and extensions as needed.
16. Attend committee meetings and take minutes as required.
17. Assist in alerting the Boards to regulatory issues or concerns.
18. Review external and internal requirements, implementing measures and updating processes accordingly.
19. Provide ad hoc compliance advice as needed.

Knowledge and Skills

• Experience in a compliance/regulatory role within insurance, ideally with insurer and intermediary experience.
• ACII qualification or equivalent experience.
• Knowledge of Lloyd's market and current regulatory environment.
• Understanding of insurance department functions.
• Technical insurance knowledge for effective questioning and challenge.
• Experience with compliance reviews and oversight of third parties or DUA arrangements.
• Excellent understanding of FCA Conduct Risk requirements.
• Ability to identify and support compliance requirements and their implementation.

We encourage candidates whose experience does not perfectly match the outlined requirements to apply, as they might still be the right fit.

Diversity, Equity & Inclusion

At Munich Re, DEI fosters innovation and resilience. We aim to build a diverse workforce across various dimensions and create an inclusive environment where everyone can succeed. Candidates can request reasonable adjustments during the recruitment process.

Our ESG approach supports sustainable societies and businesses, emphasizing environmental, social, and governance impacts, community initiatives, and volunteering opportunities.

Benefits include:

• 25 days Annual Leave + Bank Holidays
• 10% Non-contributory Pension
• Eligibility for an Annual Bonus
• Private Medical + Dental Insurance
• Critical illness, Life Assurance, and Health Benefits
• Wellbeing, Development, and EAP schemes
• Electric Vehicle Salary Sacrifice
• Professional Development Support