Senior Compliance Monitoring Officer – 9 month fixed term contract
August 5, 2020
The Group Compliance Function aim is to proactively support Willis Towers Watson to generate sustainable value, helping the company to deliver good client outcomes, manage its conduct, protect against regulatory risk, and to maintain strong regulatory relationships. We aim to be a trusted partner to the business.
We lead the management and co-ordination of Willis Towers Watson Group Compliance policies and procedures, identifying applicable regulatory requirements and implementing relevant processes to enable standards to be met. We also provide guidance and training. The Compliance team leads the management and co-ordination of the requirements of our global Regulators.
Reporting to the Head of Compliance Monitoring, the Senior Compliance Monitoring Officer will;
- Attend site reviews at various locations in accordance with the annual Group Compliance Monitoring Plan, to conduct reviews; either individually and/ or in addition to support team members.
- Assess adherence to Group policy and regulatory requirements for WTW businesses; namely Insurance broking, including London Market, delegated authority, and claims.
- Carry out analysis of relevant regulatory change and assessing the impact of such change on current business practices and Group policies.
- Interview staff and recording information.
- Understand how regulatory requirements are practically implemented in businesses areas.
- Obtain strong evidence for any findings. Articulate findings clearly to key stakeholders, and highlighting wider impact of the risk/s.
- Write reports in a clear and concise manner. Where necessary providing appropriate and robust remedial action/s.
- Record supporting documentation quickly and efficiently.
- Track actions to closure.
- Deputies for the Head of Compliance Monitoring in their absence.
- Support the Head of Compliance Monitoring in developing and tracking the Compliance Monitoring Plan. Ensuring Monitoring staff are executing duties in a timely manner and not breaching any target dates.
- Provide input to all planning, approve test scripts and scoping individual reviews.
- Approving draft reports.
- Conducting Quality Assurance on Monitoring reviews.
- Creating training plans and delivering training presentations.
- Support the development of MI, meaningful analysis and presentations to stakeholders.
- Review Compliance Monitoring reporting to identify trends and patterns across the risk horizon.
- Effectively manage stakeholder challenges, queries and requests.
- Ensure the appropriate escalation of significant compliance weaknesses to compliance management and taking responsibility for ensuring that any issues that arise are followed up and resolved appropriately.
- Create and maintain excellent working relationships with the wider Compliance teams, to ensure information is shared as appropriate and to ensure there is no significant overlap of work.
- Assist in compliance/business projects as required.
- It is highly likely that the job holder will also have a relevant professional qualification – legal, accountancy or business, e.g. Chartered Insurance Institute, ICA.
- Strong and proven Compliance Monitoring experience in Insurance broking or Insurance environment.
- Experience of managing or supervising teams.
- Provided regulatory training and developed staff.
- Experience of implementing internal controls, i.e. writing processes, Quality Assurance, writing/ approving test scripts etc
- Excellent understanding of FCA regulatory environment and compliance requirements.
- Strong understanding and contribution to development of core regulatory Group policies such as; Product Governance, Financial Crime, Data Protection, Complaints, Breaches, etc
- Has experience of creating/ developing internal systems to track findings/ actions and provide robust reporting on outcomes and root cause analysis.
- Excellent stakeholder management skills
- Demonstrates good commercial awareness combined with a commercial and pragmatic approach to managing compliance.
- Proactive rather than reactive.
- Team player with good interpersonal and influencing skills.
- Ability to work under pressure to tight timelines and without direct supervision.
- Organised and methodical.
- Excellent analytical problem-solving skills.
- Strong communication skills, both orally and in writing.
- Fluent business English essential.
- IT literate – knowledge of Microsoft office packages needed.
Equal Opportunity Employer