Job Description

This is an opportunity to join Ascot Group - one of the world's preeminent specialty risk underwriting organizations.


Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we're bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way,

The Ascot Way

.


The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.


Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service -- both pre- and post-claims. Ascot exists to solve for our clients' brightest tomorrow, through agility, collaboration, resilience, and discipline.

Job Purpose:

To assist the Compliance Function of Ascot which includes UK and Bermuda in ensuring the business remains compliant with both regulatory and legislative changes imposed by Lloyd's of London ("

Lloyd's

"), the Prudential Regulatory Authority ("

PRA

"), Financial Conduct Authority ("

FCA

"), Office of Financial Sanctions Implementation ("

OFSI

") and all appropriate and relevant overseas regulatory bodies e.g. Bermuda Monetary Authority ("

BMA

").


Key responsibilities of this role will be to act as a point of contact for all financial crime and sanctions referrals, providing advice to the business, training and education to new joiners and monitoring of regulatory deadlines. This role includes all Financial Crime Pillars: Anti-Money Laundering, Anti-Bribery and Corruption, Anti-Tax Evasion Facilitation, Fraud, Market Abuse and Sanctions.

Key Responsibilities:

Acting as a point of contact for all financial crime, sanctions, cannabis and ECO referrals. This includes providing advice to Underwriters on any queries relating to internal sanctions compliance procedures and exceptions. Ensuring there is companywide adherence to the Sanctions Policy and the Financial Crime Policy, the Sanctions Procedures and the Financial Crime Procedures. Monitoring the completion of Annual Compliance Plan items assigned to the Financial Crime team. Completing internal financial crime logs covering Breaches, Sanctions Referrals, Gifts and Entertainment and Sanctions Compliance Returns / Deadlines.

Financial Crime and Sanctions, Cannabis and ECO referrals (UK and Bermuda):

Analysing and advising on all referrals sent through to the compliance mailbox. Reviewing sanctions screening and reporting via the sanctions screening tool. Monitoring Ascot's internal Sanctions Search, using LexisNexis and Dow Jones, and monitoring Velonetic referrals - particularly regarding adherence to the 24hr SLA. Reviewing Sanctions, Cannabis & ECO referrals from underwriters and escalate accordingly. Researching all relevant geo-political risks and the wider context of those risks. All referrals must be fully investigated, analysed, recorded and reported on promptly.

Exception Report Monitoring (UK and Bermuda):

Responsible for day-to-day reviewing and completing of the Financial Crime and Sanctions Exception Reports. Responsible for the reporting methodologies to ensure exception reports are effectively capture our core financial crime and sanctions compliance monitoring controls.

Exception Reports:

All Exception Reports are automatically sent via email for analysis. They are to be investigated, closed off, and reported on promptly. All breaches must be logged within Ascot's Breach Log. The following are the main Financial Crime Exception Reports:


AML Cancelled Policies / Overpayments Export Control Order Policies Schedules under Sanction Tax Risk - EU Blacklisted Countries Claims / Loss Location Under Sanctions

Reporting (UK and Bermuda):

Responsible for completing the following internal reports and Lloyd's reports within assigned deadlines/timeframes:


Weekly compliance reports for Ascot Underwriting Limited & Ascot Bermuda Limited Underwriting Management Committee (UMC) and the Workflow Management Group (WMG) MI Reports; Weekly Sanctions Review on high-risk sensitive sanction territory business; Quarterly Sanctions Clause Review; Quarterly LIC KRI Sanctions Review; Quarterly Financial Crime and Sanctions Monitoring and Assurance Reports; and Ad-hoc breaches from the Ascot Breach Log.

Compliance and Regulatory Communications (UK and Bermuda):

Assisting the Financial Crime Manager with drafting communications on financial crime and sanctions regulations and any other regulatory topics.

Broker Security (UK and Bermuda):

Screening new brokers using the sanctions screening software and assisting with the screening results. Escalating any potential hits with the sanctions screening software to the Financial Crime Manager.

Compliance and Regulatory Requests (UK and Bermuda):

Assist the Financial Crime Manager with financial crime and sanctions compliance requests from underwriters and other functions within Ascot.

Deadline Monitoring (UK and Bermuda):

Ensuring all relevant financial crime and sanctions regulatory deadlines are entered within Ascot's Regulatory Diary system. Ensuring any deadlines assigned to the Financial Crime Assistant are actioned and signed off within the required deadline. Overseeing whether deadlines assigned to other teams are reviewed and signed off promptly. Assisting with completing the annual Regulatory Diary Review.

Training and Education

Preparing and delivering the financial crime and sanctions training to all new joiners and staff. Monitoring the attendance of all employees' financial crime and sanctions training, escalating any non-attendance to the financial crime manager.

Horizon Scanning (UK and Bermuda):

Assisting the Financial Crime Manager with keeping abreast of planned new regulations, legislation and thematic reviews that may impact how Ascot conducts and monitors its business.

Other:

Ad-hoc projects as determined by the Financial Crime Manager. Attending regulatory and legislative change-related seminars, conferences, and market forums, if required.

#LI-Hybrid