Compliance Manager

London Source: WhatJobs

See advert for pay

Overview

As a Compliance Manager in the UK, you will develop and maintain a compliant CMS and lead risk-based advisory across Great Lakes UK entities within the Munich Re group. You will strengthen the compliance culture, deliver the Compliance Plan, and provide specialist guidance on topics like sanctions, outsourcing, and regulatory change. You'll train stakeholders, monitor breaches, and support governance with a focus on sustainable compliance improvements. This is an opportunity to shape a robust compliance framework in a collaborative, risk-aware environment.

Pay / Benefits

great compensation package
on target bonus
25 days annual leave
private medical insurance
employer's contributory pension of 10%
fully paid 6 months family leave

Responsibilities

Support the Head of Legal & Compliance to develop, implement and maintain a compliant CMS
Maintain and enhance CMS elements: culture, risk analysis, norms management, whistleblowing, training and monitoring
Deliver the Compliance Plan as approved by the Company Board
Own specific Compliance topics and advise the business
Develop and enhance the CMS framework, including controls and automation opportunities
Create and deliver training on compliance topics and regulatory landscape
Perform compliance monitoring and adapt to business changes
Monitor and escalate potential compliance breaches and external regulatory breaches
Implement group-wide compliance norms for GLLB and GLLS
Perform impact analysis of regulatory publications to identify CMS risks
Support onboarding of new business, risk assess outsourcing, ensure external service requirements
Advise on Financial Sanctions risks across insurance/reinsurance
Collaborate with second line and support risk and control assessments
Draft regulatory notifications and communications with authorities
Contribute to adjusting compliance function across GLLB and GLLS and governance requirements

Key requirements

Proven experience in developing and monitoring a conduct risk framework including product governance for SME and retail insurances
Several years’ experience in a compliance role within insurance
Full working knowledge of PRA and FCA rules, practices and expectations
Knowledge of primary insurance regulatory environment and related conduct risks
Understanding of compliance requirements for at least two core topics (e.g., Prudential standards, SMCR, Financial Crime, Financial Sanctions)
Analytical, pragmatic, solution-oriented
Ability to manage internal and external stakeholders at different seniority levels
Excellent organizational skills and communication abilities
Experience with delegated authority models and multi-channel insurance distribution networks (desirable)
Experience in preparing reporting to senior management and Boards and presenting on key topics
Experience in developing and reporting on Management Information (risk tolerances, KRIs, KPIs)
Degree-level education or equivalent; professional qualification as Chartered Insurer or progress towards it
Knowledge of Solvency II and BaFin regulatory standards