Job Description

Job Advert

Location: Remote

Contract type: Permanent

Hours: Full time

Department: Risk Assurance

Purpose of Job:

To ensure the MDU complies with all applicable regulatory requirements, particularly those set by the Financial Conduct Authority (FCA) and Lloyd's of London and other key stakeholder such as third-party insurers, and any relevant legislation largely affecting insurance distribution and consumer credit activities.



The Compliance Manager will lead the development, implementation, and maintenance of an effective compliance framework and culture across the business.

Key Responsibilities:

Regulatory Environment Review and Advice

To monitor, interpret and report on mainly FCA regulations, ESG changes, data protection with the DPO and changes impacting the firm's insurance and credit broking activities. To keep up to date with the legal and regulatory environment that the MDU works within e.g. Anti-Bribery, Modern Slavery, Data Protection. To implement and advise senior management and relevant teams on the practical implications of regulatory developments. To ensure the firm maintains compliance with the FCA Handbook (particularly ICOBS, CONC, SYSC, DISP, and PRIN) and other regulatory requirements such as Consumer Duty and Vulnerable members. To provide ongoing compliance advice to insurance teams and other departments involved.

Compliance Monitoring and Policies and Procedures

To develop, implement, and maintain up-to-date assigned policies, procedures, and manuals working with Risk Assurance colleagues. To ensure operational processes e.g. insurance reflect regulatory requirements and are embedded in business practices. To review and approved insurance materials for compliance with financial promotions and status disclosure rules. To develop, input and track the Compliance Plans and other monitoring programmes for different regulated products. To report six monthly on Consumer Duty Outcomes to the Underwriting Committee and Audit and Risk Committee.

ESG Monitoring

To support the Executive in their development of the ESG Strategy as a key member of the group and reporting on any developments that impact MDU's current approach.

Product Governance

To work with the insurance team on fair value assessments, broker due diligence and be an active member of the Product Oversight Group. To monitor product development and ensure they address consumer duty and compliance requirements.

Monitoring and Reporting on Regulatory Risks

To identify and assess regulatory risks, escalate concerns where appropriate. To produce regular compliance reports for senior management and the board, highlighting key risk areas, status against compliance plan and remedial actions.

Training and Awareness

To develop training and awareness plans and oversee implementation and delivering compliance training and awareness programmes across the business working in line with the Regulatory Training Policy with Learning and Development and the DPO (e.g. consumer duty, insurance distribution requirements). To support teams in understanding and embedding compliance within their roles across the MDU.

Management

To manage the Assistant Compliance Officer and develop their skills and abilities and delivery of their key compliance tasks such as file reviews and delivery of the compliance monitoring plan.

Regulatory Engagement and Third-Party Support

To assist with Lloyd's change, third party audits including readiness and follow up actions. To complete the annual Lloyd's compliance attestation

Incident and Breach Management

To log, investigate, and report compliance breaches and consider member complaints. To ensure appropriate root cause analysis, remediation and follow up.

Governance and Culture

To provide advice and support the firm's Senior Managers & Certification Regime compliance.

About You

Demonstrable experience in a compliance role within an FCA-regulated firm--ideally an insurance broker or Lloyd's syndicate. Knowledge of binding agreements and coverholder requirements. Strong working knowledge of the FCA Handbook, particularly ICOBS, CONC, SYSC, and SM&CR. Experience in interpreting regulation and implementing practical compliance solutions. Confident communicator with the ability to influence and engage across all levels. High attention to detail and strong analytical skills. Strong ethics, judgement, and a commitment to protecting member interests.

Desirable

Degree Level Educated Desirable Relevant compliance or risk certifications (e.g. ICA, CII, CeMAP, or similar). * Experience with data protection, financial crime, or conduct risk management.