Supporting the implementation of the Compliance Framework, the annual Compliance Plan, and associated monitoring across the Ascot Group is the primary focus of this role. The analyst will provide regulatory and compliance advice, review policies, and collaborate with internal stakeholders to complete compliance workstreams efficiently.
Responsibilities
Confirm systems and controls are in place to ensure Ascot's operations in the UK, Bermuda, and Guernsey comply with regulations from Lloyd's of London, Lloyd's Insurance Company, The Prudential Regulatory Authority, The Financial Conduct Authority, The Bermudan Monetary Authority, Guernsey Financial Services Commission, and other regulators
Provide regulatory and compliance advice in a pragmatic and timely manner, balancing regulatory and commercial requirements across the Group
Support, understand, and advise the business in a proactive, open, and transparent manner
Keep abreast of all regulatory activity across relevant jurisdictions, ensuring all business areas meet applicable regulatory requirements
Review policies, procedures, and associated systems and controls to ensure they work efficiently and effectively
Assist with the upkeep of an annual Compliance Plan
Execute the annual Compliance Plan with support and assistance from the Compliance Team
Assist with embedding the Compliance Framework and all relevant systems and controls
Provide regular updates about progress against the annual Compliance Plan
Assist with Compliance Monitoring, providing assurance and ongoing reporting of key compliance and business risks on a range of issues including new broker applications and adherence to credit limits, licensing restrictions and international trading requirements, underwriting authority control and monitoring framework, and other areas as required
Contribute to Horizon Scanning activities with support from the wider Compliance Team, including assisting with gap and impact analysis and working with the Function to implement new regulations and requirements in a timely, effective, and pragmatic manner
Assist with carrying out the requirements under SM&CR regulations including drafting and maintaining Ascot's SM&CR framework, advising on the allocation of functions and prescribed responsibilities, maintaining updates to the Management Responsibilities Map, and assisting with handling applications to Lloyd's, the PRA, and the FCA, as required
Assist with drafting appropriate Board, Committee, or other governance papers for AUL Board, AUL Risk Committee, AUL Executive Committee, ABL Executive Committee, or any other Board, Committee, governance bodies, or meetings as required
Attend Board, Committee, or other Ascot governance forums where required
Ensure LIC's Operating Model is complied with, including supporting the LIC RD to carry out a monthly file review of LIC risks to monitor if the underwriters comply with the requirements of the LIC Underwriting playbook, notifying and recording underwriting and process breaches, and working closely with the Underwriting Teams, Secondees, and non-secondees to undertake any remediation activities
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Oversee the Lloyd's Business Timetable and FCA Returns Calendar to ensure any regulatory returns are completed and submitted in a timely and accurate manner
Act as primary Compliance Team lead by ensuring Ascot's ELR is up-to-date and reconciled with valid policy and claims
Oversee and assist with the annual ELR audit, including coordinating with external auditors, liaising with Operations and any other internal teams, and overseeing and managing any associated remediation
Ensure that training and development regarding compliance matters is in place for all Ascot staff and adhered to
Review the content of training courses to ensure they are in line with regulatory requirements
Provide support and input on Compliance projects working with cross-functional teams and Group companies
Work closely with the Financial Crime Team where required to help ensure Ascot remains compliant with all appropriate sanction and financial crime legislation
Work closely with the Conduct & Complaints Team where required to help ensure Ascot adheres to all relevant Conduct and Consumer Duty requirements and continues to place the needs of the customer at the heart of Ascot's business
Support and promote a proactive compliance culture within Ascot
Engage positively with the business to support and enable growth in a compliant manner across underwriting divisions
Maintain a proactive, positive, open, and transparent working relationship with the Senior Compliance Manager and the Function
Develop positive relationships and work closely with key stakeholders within Ascot including Legal, Risk, Delegated Authority, Claims, Operations, MI Teams, Senior Underwriters, their teams, and the Business
About the Company
Ascot Group is a specialty risk underwriting organization that operates through interconnected global operating platforms. The company aims to maximize client financial security while delivering bespoke products and world-class service pre- and post-claims, solving for clients' brightest tomorrow through agility, collaboration, resilience, and discipline.
