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Marsh & McLennan Companies

Senior Compliance Officer

POSITION SUMMARY

·         To be the primary interface with assigned business areas, in delivering effective oversight and advice, regarding compliance with policies, procedures, systems, controls and governance of Marsh UK

·         Oversee successful implementation and execution of the business-facing-related elements of the Annual Compliance Plan

·         Oversee adherence to regulatory reporting requirements of relevant Marsh businesses

·         Provision of technical advice to colleagues across the businesses, based on subject matter expertise and through liaison with other Subject Matter Experts (SMEs)

·         Helping Marsh Group prepare for FCA ‘Deep Dive’ and Thematic visits (including document submissions and interviews and feedback for Senior Management)

·         Ensure effectiveness and metrics of all assigned Responsibilities

ESSENTIAL JOB RESPONSIBILITIES

1 - ADVISORY & OVERSIGHT: Provide the Advisory and Oversight (A&O) Leaders with regular Compliance updates on topics as relevant – arising from:

- compliance-related issues and/or incidents arising with the business

- findings, recommendations and management actions arising out of Compliance Reviews

Ensure attendance at regular business unit governance meetings (including Executive and Operational meetings) and providing a Compliance update for each meeting on topics and actions as relevant.

Ensure maintenance of awareness of regulatory developments and support the business in assessing impacts, through regular liaison with the Policy & Technical Services (PTS) team; Provide and oversee the provision of advice to business or functional colleagues on issues relating to their business or function, including the development and launch of new products, new business models, new functional processes, outsourcing, etc.

2 - BUSINESS SUPPORT & ADVICE: Attend where necessary business meetings and governance meetings; identify and share professional and regulatory risks to the business and work with the business to enhance controls as appropriate; promote an open line of communication between Compliance and the business to provide the business with updates on current Compliance initiatives and projects and

vice versa. Maintain awareness of business structures and activities; including cross border activity and inter-company relationships / dependencies; understanding business dynamics, strategies, pressures and needs.

3 -REGULATORY/FSA-SPECIFIC MATTERS Assist the business with their document submissions to the PTS team as required for regulatory filings and/or visits (e.g. FCA ‘Deep Dives’ and Thematic visits).

Through own knowledge and research and through liaison with the PTS team, advise the business of regulatory developments and change and assist the business with impact and gap analysis, including advice and recommendations

4 - ANNUAL PLANNING PROCESS: To contribute towards the implementation of business-facing-related elements of the Annual Compliance Plan (re: prevention and culture).

5 - RISK ASSESSMENT PROCESS: Provide inputs into the annual compliance risk assessment process; Escalate key risks to the Risk Team through the A&O Leaders.

6 - POLICIES & PROCEDURES: Work with the business and provide input to the PTS team regarding the development of effective and efficient policies and procedures that will facilitate compliance with regulatory requirements affecting the business;

Formally approve key processes that are intended to embed compliance within the business; assist and provide advice to the business regarding how to efficiently comply with the central compliance standards, policies and procedures that are required to be followed by the business, and where appropriate, oversee and support the training and/or communications on such matters.

7 -  TRAINING & COMMUNICATIONS FOR MARSH GROUP PERSONNEL: Where appropriate provide face-to-face and written regular regulatory updates to client-facing and functional colleagues explaining developments as posted on the InsideMarsh Compliance page, or as developed from own research and knowledge, and using info as provided by PTS team; Provide annual reminders to functional colleagues re: the existence of the Ethics & Compliance Hotline and other mechanisms (e.g., supervisors, Human Resources, Legal) to report any compliance-related concerns/problems.

8 - ANNUAL MONITORING PLAN & REPORTING: Under the direction of the A&O Leader conduct periodic health checks that provide risk-based oversight and assurance regarding business compliance with policies, procedures, systems, controls and governance requirements affecting the business; liaison with the business as required to ensure that their remedial action plans relating to the results from the compliance monitoring reports are addressed – for all one-off issues and systemic issues.

9 - INCIDENT MANAGEMENT PROCESS: Following the standards for the management of suspected incidents of non-compliance, gather or oversee the gathering of facts and supporting evidence relating to any such incidents as identified through day-to-day dealings with the business.

10 - INCIDENT MANAGEMENT PROCESS: Following the standards for the management of suspected incidents of non-compliance, gather or oversee the gathering of facts and supporting evidence relating to any such incidents as identified through day-to-day dealings with the business.

11 - TALENT MANAGEMENT: Maintain and develop your competence regarding technical skills and soft skills as governed by the Marsh Group Training & Competence Framework

12 - LIAISON BETWEEN COMPLIANCE, QUALITY & RISK: Where appropriate, share re: developments/projects and identify ways to collaborate together on projects of mutual interest/benefit and leverage off the activities by other functions to enhance the effectiveness of the Compliance Department; identify and share professional and regulatory risks to enhance controls as appropriate; promote an open line of communication to, from and within Compliance.

13 - LIAISON WITH PEERS. Share re: developments/projects and identify ways to collaborate together on projects of mutual interest/benefit and leverage off the activities by other functions to enhance the effectiveness of the Compliance Department; identify and share professional and regulatory risks to enhance controls as appropriate; promote an open line of communication to, from and within Compliance.

KNOWLEDGE, SKILLS AND ABILITIES

Education

·         Degree or equivalent

Experience

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

·         Extensive experience operating in the Compliance department of a public company in the UK regulatory environment

·         Broad knowledge of risk management practices.

·         Commercial awareness and focus on the application of regulation within the insurance broking and investment industry

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

·         Evidence of being an agent of change

Knowledge

·         Strong written and oral communication skills

·         Analytical

·         Problem solving

·         Project management skills

Other requirements (licenses, certifications, specialized training)

·         Broad knowledge of relevant legislation and regulations

·         Broad and deep knowledge and use of the FCA Handbook – Principles, Rules and Guidelines, etc

·         Investment and general insurance industry understanding

About Marsh

Marsh is a global leader in insurance broking and risk management. In more than 130 countries, our experts in every facet of risk and across industries help clients to anticipate, quantify, and more fully understand the range of risks they face. We work with clients of all sizes to define, design, and deliver innovative solutions to better quantify and manage risk. We offer risk management, risk consulting, insurance broking, alternative risk financing, and insurance program management services to businesses, government entities, organizations, and individuals around the world.  To every client interaction we bring an unmatched combination of deep intellectual capital, industry-specific expertise, global experience, and collaboration.  Since 1871, clients have relied on Marsh for trusted advice, to represent their interests in the marketplace, make sense of an increasingly complex world, and help turn risks into new opportunities for growth. Our more than 30,000 colleagues work on behalf of our clients, who are enterprises of all sizes in every industry, and include individuals, multinational organizations, and government entities worldwide. We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients.  Visit www.marsh.com for more information and follow us on LinkedIn and Twitter @MarshGlobal

Marsh and its separately incorporated operating entities around the world are part of Marsh & McLennan Companies, a publicly held company (ticker symbol: MMC).

Marsh & McLennan Companies offers competitive salaries and comprehensive benefits and programs including: pension, health and welfare, tuition assistance, employee assistance program, domestic partnership benefits, career mobility, employee network groups, volunteer opportunities, and other programs. For more information about our company, please visit us at: http://www.mmc.com/.  We embrace a culture that celebrates and promotes the many backgrounds, heritages and perspectives of our colleagues and clients. For more information, please visit us at: www.mmc.com/diversity.

Marsh & McLennan Companies and its Affiliates are EOE Minority/Female/Disability/Vet/Sexual Orientation/Gender Identity employers.

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