Howden is a global insurance group with employee ownership at its heart. Together, we have pushed the boundaries of insurance. We are united by a shared passion and no-limits mindset, and our strength lies in our ability to collaborate as a powerful international team comprised of 24,000 employees spanning over 56 countries.
People join Howden for many different reasons, but they stay for the same one: our culture. It’s what sets us apart, and the reason our employees have been turning down headhunters for years. Whatever your priorities – work / life balance, career progression, sustainability, volunteering – you’ll find like-minded people driving change at Howden.
ROLE PURPOSE:
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The job holder will be allocated a specific Division within the UK&I Specialty Pillar, for which that individual will be appointed as their dedicated Executive Compliance Business Partner to provide Compliance support and oversight.
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The job holder will develop business relationships and work alongside the Senior Management and other key stakeholders within their dedicated Division to support it in ensuring that it has appropriate and effective understanding, interpretation, application, and implementation of regulatory expectations within its governance, strategy, decision making, operational processes and people policies.
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The job holder will develop an in depth understanding of the strategic, commercial and operational activities of their allocated Division and be able to maintain an up to date regulatory risk profile for that Division, which shall be presented on a regular basis to the relevant governance forums. This risk profile must be suitably robust to enable the individual to develop and maintain an annual plan and strategy for providing the necessary compliance support and oversight to their Division. The plan must dovetail with the overarching Compliance Plan.
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The individual must ensure that regulatory matters, concerns and risks of the Division are visible and reported in a timely manner to both the Divisional Senior Management and to the appropriate assurance committee, to ensure appropriate action and oversight by both the first and second line of defence.
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The individual will be expected to act in an advisory and consultative role in supporting the Division with the interpretation and application of regulatory expectations. However, the individual will not be expected to develop and implement the Division’s systems and controls, which should continue to be owned by the business as the first line of defence.
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The individual will be the primary point of contact of their Division for key strategic, commercial or operational initiatives (for example, restructuring, acquisitions and integrations). However, the individual must liaise with and utilise the services and expertise of the other Specialty and Central Compliance Functions as necessary.
Planning (and Strategy):
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Maintain an up to date regulatory risk profile of the Division.
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Develop a framework with the Divisional Senior Management to incorporate Compliance at appropriate strategic and decision making forums.
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Develop and maintain an annual Compliance Plan which is suitable based on the strategic objectives and its regulatory risk profile. This must dovetail with the overarching Compliance Plan
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Develop and provide the Division with a clear terms of reference, setting out the scope, role and responsibility of the Executive Compliance Business Partner.
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Determines own work priorities and activities in line with agreed objectives to ensure the planning and achievement of the Annual Compliance Plan.
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Works closely with the other Compliance Function Managers, to ensure the co-ordination of deliverables.
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Participates in specific initiatives/projects to conduct research, review and consider more effective controls.
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Provides input into the plans of the wider Compliance Function in order to ensure these include appropriate considerations for delivery.
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Manages assigned projects and contributes to other projects as required.
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Provides relevant management information relating to their specified division(s) to senior management and governance fora.
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Works closely with the first and second line monitoring functions to determine whether or not conduct risk and general compliance related metrics are suitably designed and incorporated and, where issues are identified, are being addressed in a timely manner.
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Prepares an approach to provide the Head of Compliance with regular updates on progress against key deliverables and tasks, as defined within the Compliance Plan for that Division.
Technical:
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Prepares and submits for review and approval, a Compliance Plan and Strategy for the Division under their responsibility.
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Develops an in-depth understanding of the nature of each division within their remit (including their Appointed Representatives) and their respective conduct and regulatory risk profiles.
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Develops and maintains a process to measure and monitor the conduct and regulatory risk profile of each division within their remit (including their Appointed Representatives), to ensure the appropriate assignment of support and resources.
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Develops a framework to ensure regular review of the performance of compliance systems and controls, which do not fall within BAU Compliance Monitoring Team activities.
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Provide support and oversight in respect of all regulatory matters, including but not limited to Consumer Duty, Product Governance, ARs, Introducers, SMCR and Operational Resilience etc.
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Works closely with the Compliance Monitoring Team to develop conduct risk and general compliance metrics for their division(s), which support the early identification of any emerging trends which may signal potential detriment to clients and insureds.
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Works with the Compliance Monitoring Team and other key internal stakeholders to provide relevant governance fora with regular understanding of the divisions’ conduct risk and regulatory status.
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Supports in undertaking reviews to determine if any matters of concern are systemic, may have caused or have the potential to cause harm to clients.
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Provides support for the review of new and existing client portals.
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Considers and responds to any conduct risk and general compliance concerns, issues or breaches identified by either the first line monitoring functions, the Compliance Monitoring Team or Internal Audit, including where any Coverholder Audits are performed on the business, in relation to the specified division(s) within their remit, and works with those division(s) to enforce a positive compliance culture.
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Is the primary referral point for the business, providing technical input and expertise, interpreting compliance regulations/requirements (working with other Compliance team members where necessary) for the activities of the business, in relation to conduct risks and general compliance, which shall include any matters related to the Consumer Duty and good customer outcomes.
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Advises the business of regulatory developments & changes in relation to conduct risk and general compliance and assists with impact and gap analyses, providing advice and recommendations to improve performance and mitigate risks.
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Provides the divisional CEO and operational leads with regular updates on conduct risk and general compliance matters, including arising issues and/or incidents occurring in the business, along with findings, recommendations and management actions arising out of compliance reviews.
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Organises and participates in regular meetings for the “first line of defence” e.g. with operational leads and Business Assurance to co-ordinate activities, share information and provide relevant updates.
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Attends regular business-unit governance meetings (including executive, operational and team meetings) and provides a compliance update for each meeting, supporting the embedding of timely and regular compliance matters in such divisional governance meetings and decision making.
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Provides face-to-face and written, regular regulatory updates to client-facing and functional colleagues, explaining developments as posted on the relevant pages of the intranet.
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Liaises with the business to ensure that any conduct risk and general compliance related enhancements or remedial action plans are addressed for all one-off issues and systemic issues.
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Identifies relevant compliance training needs for the business area (including induction for new employees) and implements relevant training activities/plans to ensure employees are aware of their responsibilities regarding compliance and carry out their work activities appropriately.
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Provides technical expertise to specific projects and initiatives in order to ensure goals and objectives are met.
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Keeps informed of all regulatory and legal changes which impacts on the job role.
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Ensures up to date records are maintained at all times on the Company systems.
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Responds appropriately to urgent issues as they arise.
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Escalates to Certified Function Holders, Divisional Heads, Compliance or Governance Committees any matters of concern or emerging risks.
Policy, Process and Procedures:
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Regularly reviews the Operating Entity’s policies and procedures (e.g. OPMs, including OPM supplements) to ensure that, from a conduct risk and general compliance perspective, they remain fit for purpose.
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Interprets instructions and issues arising, and then implements actions according to policies and procedures.
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Alerts the Divisional Senior Management and the relevant assurance committee if any systems and controls are no longer fit for purpose.
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Produce and prepare quality, complete and timely reports and deliverables to the Divisional Senior Management, Head of Compliance, Deputy Head of Compliance and relevant Assurance Committee.
Environment, Customer Focus and Relationships:
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Builds strong and effective relationships across the business to promote a positive image of the Compliance Team and efficiently support and deliver work activities.
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Promotes an open line of communication to, from and within the Compliance Team.
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Maintains awareness of organisational structures and activities, including cross-border activities and intercompany relationships/dependencies, in order to understand business dynamics, pressures and needs.
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Maintains awareness of regulatory developments and supports the business in assessing impacts and enhancing controls where necessary.
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Attends internal and external seminars, forums and events where necessary, to positively represent the Company and increase own knowledge and understanding of changing priorities, new legislation and market trends etc.
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Responds to the clients (both internal and external) requirements as appropriate.
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Behaves with all clients (both internal and external) fairly and ethically.
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Shares information that could be beneficial to the Operating Entity/Group/Pillar.
People Management/Personal Development:
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Acts as a role model for positive management and leadership behaviours.
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Actively undertakes personal development to ensure up to date knowledge and understanding of best practice.
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Remains aware of external, industry, legal and regulatory developments etc. to ensure practice and outputs are of a sufficiently high standard.
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Keeps informed of all legal and regulatory developments relevant to the Operating Entity/Group/Pillar.
Regulatory and Compliance:
The Board of each Operating Entity requires the highest standards of corporate governance, operational excellence and financial reporting throughout the Group from all employees. Specific responsibilities are listed below. Reference to team (below) is only applicable where the jobholder has direct line management responsibilities:
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Ensures compliance of self and team (as appropriate if the jobholder has line management responsibilities) with all applicable legal, fiscal and regulatory obligations in the form of policies and procedures.
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Ensures correct authorisation is obtained and processes followed when required by the Operating Entity and/or Group.
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Ensures performance, HR and T&C records are up to date and meet the Operating Entity and/or Group’s requirements (which will include those of direct reports if the jobholder has line management responsibilities).
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Maintains accurate records and deal with correspondence appropriately.
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Operates in an honest, professional and ethical manner.
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Strictly adheres to the Group Employee Code of Conduct which strongly aligns to the FCA’s code of conduct that all regulated entities must adhere to.
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Completes all relevant regulatory training.
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Ensures continual competency to carry out role (this will include team members where the jobholder has direct reports).
Knowledge/experience:
- Must be deeply knowledgeable about regulatory expectations with regard to conduct risk (including Consumer Duty and Product Governance) and the implementation of appropriate systems and controls across different business profile types.
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Extensive experience of operating in the compliance department of a public company in the UK regulatory environment.
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Likely to have previous experience of managing other compliance professionals.
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Proven track record of building strong and constructive relationships with business leaders/senior management.
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Evidence of being part of change programmes.
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Commercial awareness and focus on the application of regulation within the insurance broking industry.
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Broad and deep knowledge and use of the FCA handbook (principles, rules and guidelines etc.) plus broad knowledge of relevant legislation and regulations.
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Broad knowledge and understanding of insurance, principles, products and services.
Skills/behaviours:
- People management skills.
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Strong written and oral communication skills.
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Actively listens.
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Analytical, problem solving and project management skills.
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Influencing skills in securing buy-in to recommendations and business benefits.
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Consultative approach to business relationship management, proactively sharing “what works best” with others across the Group.
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Empowers, motivates and holds people accountable.
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Planning, organisation, motivating of direct reports.
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Strong prioritising and closing skills.
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Strong conflict-management skills.
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Ability to articulate complex concepts simply.
Qualifications:
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University degree or recognised industry accreditation.
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Professional qualification (desirable).
A career that you define. At Howden, we value diversity – there is no one Howden type. Instead, we’re looking for individuals who share the same values as us:
Our successes have all come from someone brave enough to try something new
We support each other in the small everyday moments and the bigger challenges
We are determined to make a positive difference at work and beyond
We're committed to providing reasonable accommodations at Howden to ensure that our positions align well with your needs. Besides the usual adjustments such as software, IT, and office setups, we can also accommodate other changes such as flexible hours* or hybrid working*.
If you're excited by this role but have some doubts about whether it’s the right fit for you, send us your application – if your profile fits the role’s criteria, we will be in touch to assist in helping to get you set up with any reasonable adjustments you may require.
- Not all positions can accommodate changes to working hours or locations. Reach out to your Recruitment Partner if you want to know more.
Fixed Term Contract (Fixed Term)
