UK Director of Risk & Compliance – Insurance

This is an excellent opportunity to work for this market leading Insurance brand in the UK. The UK Director of Risk & Compliance will be responsible for delivering an effective Risk and Compliance strategy for our clients UK Business. Reporting directly to the CEO, you will lead a team that sets and manages risk exposures and controls and creates an environment where balanced risk based decisions drive the commercial goals of the clients UK business.

Main Responsibilities:

  • As the Chief Risk Officer function holder (SMF 4), you will lead the clients UK’s 2nd line of defence, ensuring that risk management and compliance frameworks are effective and efficient, operating within the clients approved Risk Appetite.
  • Ensure effective engagement with 2nd line functions across the UK Group, with regard to consistency and efficiency of risk and compliance frameworks, strategy and planning, and in response to matters of group-wide concern.
  • To be knowledgeable on existing legal and regulatory requirements affecting the UK business and to keep up-to-date with any amendments to such and / or the introduction of any new requirements. To ensure the Risk Assurance department has effective communication channels to 1st line management at all levels.
  • To lead the Risk Assurance Function in developing and maintaining effective systems and procedures for the monitoring and measurement of the Company’s exposure to risk, identifying and reporting to management any significant trends, areas of highest exposure relative to risk appetite, strength of the control environment and to recommend any additional risk response that may be required.
  • To lead the planning of risk assurance, risk consultation, compliance monitoring and compliance advisory activities, ensuring that priorities are set based upon risk exposure for the UK business. Gain approval of plans from the our clients UK Audit, Risk and Compliance Committee
  • Lead the UK ORSA process, ensuring effective communication and coordination occurs as required for timely production and Board approval of the reports. Coordinate production of an ORSA report.
  • Ensure the company’s products, services and propositions meet the needs of customers as well as other stakeholders, playing an active role in product governance decisions.
  • To be accountable for the timely completion and submission of periodic returns to the relevant regulatory and industry bodies. Responsible for timely completion of periodic requests for information (e.g. twice yearly self-assessment questionnaire) required by the parent company or the ultimate parent.
  • Prepare for and co-ordinate activities within the Company to ensure that full co-operation is given to the PRA/FCA prior to, during, and following any compliance visit.
  • Maintain open and productive relationships with relevant regulators and be a key point of contact in respect of compliance related matters. Ensure that, within the Risk Assurance team and other functions as required (e.g. Finance), relevant points of contact are in place; this includes appropriate levels of access to the online services and applications hosted by regulators and industry bodies.
  • To liaise with the PRA/FCA regarding the content and associated deadlines and lead the timely completion of any risk mitigation programme, allocating tasks and responsibilities within the Company and reporting progress towards completion to the Executive, the Governance Committees and the PRA/FCA on a regular basis.
  • To ensure that the planned activities are conducted in accordance with the agreed programme, including any changes agreed thereto, and that the resulting reports are presented to the ARCC on a quarterly basis.
  • To manage, coach and develop individuals within the Risk Assurance function.
  • To liaise with the Company Secretary and the Chair of the ARCC to ensure agreement of the scheduling and order of business for Governance and Board meetings to meet the requirements for reporting and any formal approvals in relation to compliance and regulatory matters.
  • Manage contact and liaison with external auditors with regard to the 2nd line assurance functions of the UK business.
  • To act as an advocate of our clients company culture and ensure behaviours are displayed in all interactions.

Ideal Candidate profile:

  • Risk management experience gained at a senior level, within the General Insurance  industry.
  • Compliance management experience gained within the General Insurance Industry
  • Previous experience of holding SMF4 preferred
  • Multi-channel experience including B2B and B2C
  • Educated to degree level (higher degree or equivalent preferred) and/or relevant professional risk management or insurance qualification
  • Well-developed people skills including the ability to motivate, engage and develop colleagues
  • Ability to work collaboratively and proactively with colleagues at all levels of the business.
  • Able to work unsupervised/Self motivated
  • Inquisitive/Challenging – improves processes
  • Influences business decisions


Please apply as soon as possible providing CV and a brief overview to outline your relevant experience to: quoting reference NJR/RC383