Deputy Head of Compliance Monitoring

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Deputy Head of Compliance Monitoring

lead · Risk & Compliance

Company:

Description:

Deputy Head of Compliance Monitoring

We are seeking a talented individual to join our Compliance Monitoring team at Marsh McLennan. This role will be based in our London offices. This is a hybrid role that has a requirement of working at least three days a week in the office.

Compliance Monitoring is part of the UK Regional Compliance function, part of the Second Line of Defence (“2LOD”) which supports MMC’s UK Marsh, Mercer and Guy Carpenter businesses. In the UK, Guy Carpenter is Marsh Ltd’s Appointed Representative

To deputise for the Head of Compliance Monitoring, UK Region, and lead and support on Compliance Monitoring reviews, in accordance with the agreed Compliance Monitoring methodology and ensuring that, where issues are identified, remedial actions are carried out by the business.

 In conjunction with the Head of Compliance Monitoring, UK Region, to drive:

• the development and delivery of the risk-based Compliance Monitoring Plan

• the Compliance Monitoring methodology

• regular reporting to governance committees

• effective team working, prioritisation of work and application of resources

 and ensure:

• collaboration with colleagues within the Compliance function on strategies and projects

• stakeholder management and engagement across the Three Lines of Defence in the UK, including the wider LCPA function

We will count on you to:

Leadership and Management of Compliance Monitoring Reviews

• Understands the processes and competencies required to complete a Compliance Monitoring review.

• Manages all components of a review (including scope and approach) and members of the review team, to ensure that reviews are delivered to the expected quality within the agreed timeframe

• Ensures that resource budgets are managed effectively.

• Clarifies roles and responsibilities of stakeholders relevant to each review, including the Accountable Executive for the business area being reviewed.

• Agrees any remedial actions emerging from each review and tracks progress of these through to closure.

• Makes constructive proposals to improve the effectiveness of the Compliance Monitoring review process.

• Carries out peer reviews of completed monitoring reviews, to support the Head of Monitoring in exercising oversight of team activities.

Reporting

• Prepares monitoring reports to specified standards including format, style and timeliness, with the need for minimal changes.

• Conducts a quality review of the review-evidence, to ensure it supports the findings.

• Provides clear and sufficient evidence to support the need for remedial actions.

• Ensures that critical findings are reported immediately as appropriate.

• Achieves buy-in and agreement from the Accountable Executive to the report findings and agreed remedial actions.

• Gives context to findings and recommendations in relation to wider related risk, control and Governance issues.

Communication

• Possesses and demonstrates advanced influencing, persuasion and negotiating skills.

• Presents with confidence to senior leaders.

• Negotiates with senior management to ensure that monitoring recommendations are agreed and acted upon.

• Carries out formal reporting to management on progress versus plan, status of outstanding monitoring issues and progress of remedial actions.

• Demonstrates networking skills and the ability to sustain effective working relationships with a wide range of stakeholders at a senior level

Leads People

• The role deputises for the Head of Compliance Monitoring

What you need to have:

• Extensive experience of compliance monitoring in the UK regulatory environment

• Proven track record of compliance experience - within at least one of (re)insurance / (re)insurance broking / employee benefits/wealth management or within more than one of insurance / insurance broking / reinsurance / employee benefits/wealth management

• People management skills

• Proven track record in building strong and constructive relationships with business leaders

• Proven track record of interfacing effectively with business colleagues at senior management level.

• Strong written and oral communication skills

• Analytical, problem solving and project management skills

• University Degree/recognised industry accreditation

What makes you stand out:

•  Extensive knowledge of relevant legislation and regulations: - in at least one of (re)insurance / (re)insurance broking / employee benefits/wealth management, in more than one of (re)insurance / (re)insurance broking / employee benefits/wealth management Knowledge of client money (CASS) rules

• Understanding of the insurance industry

• University Degree/recognised industry accreditation

• Broad knowledge and understanding of insurance principles, products and services

Why join our team:

• We help you be your best through professional development opportunities, interesting work and supportive leaders.

• We foster a vibrant and inclusive culture where you can work with talented colleagues to create new solutions and have impact for colleagues, clients and communities.

• Our scale enables us to provide a range of career opportunities, as well as benefits and rewards to enhance your well-being.