Background
Based in either London or Ipswich, this is a challenging role to which the job holder will bring a diverse set of skills to ensure documentation is of the high standard expected of this market leader and to manage third party reviews (audits) to ensure the delegated work undertaken by partners on its behalf also meets that standard.
The role
To be responsible for:
• Management of specific personal lines reviews of third parties who have product processing and underwriting authority over and above the standard TOBA to specified plans and timescales.
• The reviews will identify whether the controls and processes relating to legal, compliance and technical areas are carried out to a satisfactory standard.
• The legal, compliance and technical content of personal lines product literature which includes standard products and bespoke literature suites for third parties.
Key Accountabilities
• To undertake and manage personal lines reviews covering major partners and intermediaries to agreed corporate standards.
• To review personal lines product literature (including third party bespoke wordings) and exercise decision making authority to deliver industry leading wordings to relevant market, legal and compliance standards (including treating customers fairly issues).
• To contribute to the upkeep of legal, compliance and regulatory content of personal lines manuals internally or for business partners with delegated authorities.
• To monitor decisions relating to complaints involving product misinterpretation and literature/process/prices being unclear, unfair, misleading and FSA and other requirements.
• To keep up to date with relevant personal lines FOS decisions, legislative and compliance changes, identifying the impact on literature and implementing such changes where possible.
Skills, knowledge and behaviour
• Sound experience in a senior underwriting, technical, legal or risk and compliance role
• Practical experience in an audit/review environment
• Sound knowledge of technical underwriting process
• Thorough knowledge of industry, legal and regulatory requirements in relation to personal lines insurance
• Communication skills sufficient to translate expert knowledge into manuals, customer facing documentation and associated processes and verbal/written advice on best practice
• Relationship management skills required for review (audit) situations