Risk and Compliance Monitoring Officer

We’re Barbon, one of Lincoln’s biggest employers and the UK’s largest tenant referencing and specialist lettings insurance company. We work with tenants, landlords and letting agents – providing them with an award-winning referencing service and a comprehensive suite of insurance products. We have more than 350 staff members based in our purpose built, stylish head office in the heart of historic Lincoln.

Career Details
Position opens 15/03/2017
Position closes 26/04/2017
Location Lincoln
Reporting to Monitoring Manager
Job reference

MAIN PURPOSE OF ROLE             

To provide the business with independent assessment of the effectiveness of operational controls to demonstrate:

  • Compliance with our legal and regulatory obligations
  • Identified risks are mitigated in accordance with the risk appetite statement
  • Consumer interests are protected throughout the product lifecycle

 

  

Working with the business to embed the risk management framework; reviewing incident reports and departmental risk registers to ensure that appropriate actions are taken to continually improve the control environment.

 To be responsible for the review of:

  •  Suspicious activities as reported by the referencing and legal and claims teams providing detailed guidance on actions to be taken  
  • Financial promotions received from the business for compliance sign off. This includes training material, marketing material and client facing product literature

 

Supporting the Monitoring Manager in reporting to the business:

 

  • Risk and compliance monitoring outcomes
  • Incident and risk management trends
  • Conduct risk performance

 

Maintaining accurate records to provide a robust audit trail for the monitoring, sign off and reporting completed.

 

KEY TASKS AND ACCOUNTABILITIES

 

  • To maintain a strong assurance culture through robust monitoring processes to identify any regulatory or control weaknesses. Monitoring activities to include thematic / BAU monitoring reviews and assessment of risk mitigation controls
  • Collation of data to populate the conduct risk dashboard, analysis and provision of support to relevant business areas when negative trends are identified
  • To conduct post sales and post claim surveys, ensure compliant with all relevant policies and regulations; analysing responses. Record and escalate breaches to the appropriate source
  • To review any suspicions raised from referencing and legal and claims, undertaking in-depth investigations on information provided, with detailed outcomes and actions communicated back to the relevant departments. Where necessary, handling the reporting of the suspicious activity to external agencies
  • To review and sign off product literature, marketing and training material in accordance with the financial promotions process
  • To report immediately all incidents/breaches/loss events and near miss reports in accordance with the risk management framework. Escalating all risks identified within the team
  • To maintain accurate records, for audit trail purposes, for all work carried out
  • To continually maintain and develop regulatory and risk management knowledge
  • Perform additional tasks as directed by line management

 

PERSON SPECIFICATION

 

 

 

Essential

Desirable

Education / Qualifications

  • A Level or equivalent standard of education

A relevant professional qualification such as CII, Cergi or ICA

Experience/ Knowledge

 

  • An understanding of the FCA rules / principles for conducting general insurance business; particularly, ICOBS, SYSC and DISP sections of the FCA handbook
  • Experience of risk-based compliance monitoring and supporting a risk management framework
  • Understanding of the financial promotion rules and ideally experience of financial promotions vetting
  • An understanding of the Insurance Broking and Lettings market
  • Experience of report writing to articulate the output from risk and compliance monitoring work to support continuous process improvement

 

  • Designing monitoring processes
  • Understanding of AML regulations, Data Protection Act
  • Incident reporting and identification of emerging risks

 

Skills / Aptitudes

 

 

 

 

  • Communicate with an open and collaborative style and networks effectively
  • Analytical and able to solve complex problems
  • Seek out, manage and influence opportunities for continuous improvement and change
  • Seeks opportunities for self-development for self and others
  • PC literate- including PowerPoint and Excel
  • Planned and organised approach to working
  • Structured approach to documenting work

 

 

 

 

Personal Attributes

 

  • Proactive and demonstrates initiative
  • Ability to challenge information and decisions made
  • Embraces cross-organisational working
  • Adapts and responds to change positively
  • Results focused
  • Innovative and creative
  • Accountability for self and role

 

 

 

 What’s in it for you? As well as competitive salaries and bonus packages, we also enjoy: 

 

  • An on-site, subsidised bistro - offering a varied menu of locally sourced food and drinks
  • 25 days’ holiday
  • Free parking
  • Free tea, coffee and fresh fruit
  • Childcare vouchers
  • Healthcare scheme
  • A regularly visiting florist, beautician and holistic therapist
  • An incredible staff party every year

 

All applicants must live in the UK and be eligible to work in the UK.

No terminology in this advert is intended to discriminate on the grounds of age, and we confirm that we will gladly accept applications from persons of any age for this role.

To apply for the position of Risk and Compliance Monitoring Officer please fill in the form below.

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