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Insurance Conduct & Compliance - Manager

Employer
PwC
Location
London (Greater)
Salary
Competitive
Closing date
6 Feb 2023

View more

Salary band
Competitive
Contract type
Permanent
Hours
Full Time
Where will they be working?
Hybrid - mostly office
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Job Details

Who we are looking for

The world of Risk and Regulation has been going through a period of fundamental change – it continues to evolve in a fast moving political and commercial environment as do the businesses it affects.  We are working across the financial services sector with our clients dealing with the impacts and adaptations required -  join us on the journey and be part of creating a new and relevant financial services industry. The Insurance Risk and Regulatory team has significant growth plans and is looking to expand its leading regulatory business. 

We are looking for individuals at Manager grade who have relevant experience and knowledge of conduct & compliance regulation in the insurance market to advise and deliver regulatory change projects to our large number of clients in this sector. PwC is the leading advisory firm in this space and our team is expanding and looking for additional talent to supplement the team with conduct and compliance knowledge and experience.

Background to the Insurance Regulatory Market

The regulatory environment for the insurance industry in the UK is continuously changing and the expectations of regulators are increasing. Recently firms have had to adapt their business models to changes arising from Brexit, the challenges of Covid-19 (both operationally and financially), and the enduring low yield environment. As well as an ever changing macro environment, insurers and brokers are having to navigate complex regulation whilst seeking to achieve their strategic goals in a competitive market. The treatment of vulnerable customers, plans on consumer duty, new rules for general insurers on pricing and the long term effects of pension freedoms for life insurers are just some of the areas where compliance and regulatory specialists are having to guide businesses on the requirements and expectations of regulators.

Further change is also coming. The UK government continues to look to position the UK for long-term growth and to enhance international competitiveness in a post-Brexit era, including reviewing the role of regulators and the current suite of regulation. Operational resilience requirements are being rolled out and climate change, culture, and inclusion and diversity are areas of regulator focus, raising the bar of expectation for market participants. Firms are keen to understand these upcoming regulatory changes and will require support in implementing them.

Capital providers continue to seek opportunities within the insurance sector, leading to investment and M&A activity, as such there is a high demand for regulatory diligence and post-deal services. Firms are therefore looking for support with regulator engagement and approval processes as businesses startup or undergo major change. Client’s value the knowledge, insight and regulatory relationships that we hold.

Working within our Team

As the leading provider of professional services to the insurance industry, PwC works with all of the leading insurers in the UK. If successful, you will work on a range of exciting projects across many areas of the regulatory spectrum gaining a diverse understanding of the risks faced by insurers and brokers and provide advice on innovative solutions. As a team we work collaboratively on projects, often with colleagues from other specialisms. We also aim to empower individuals to seek areas of focus, supporting development in those areas through on the job learning and mentoring. You will also have access to PwC’s market leading development framework in order to get full support through your personal development.

Responsibilities

The responsibilities will vary depending upon the client and the engagement profile. Amongst others, you will be:

  • Leading teams on engagements – acting as team leader on engagements or supporting a team leader on larger or more complex engagements. Being responsible for day-to-day liaison and building meaningful relationships with clients;

  • Being responsible for the production of regulatory analysis and reports, coaching others and reviewing the work of junior team members; 

  • Being agile and working across a range of different subjects and projects, usually coupled with a focus on a sector or area of regulation;

  • Designing and assessing key systems and controls for demonstrating compliance with applicable regulations based on own knowledge and experience; 

  • Performing technical research, and supporting the evaluation of how regulatory changes may impact clients or industry groups; 

  • Supporting the development of marketing materials and sales activities;

  • Relationship building and networking with clients and internally across PwC; 

  • Contributing to PwC’s Thought Leadership; and

  • Contributing to aspects of the running of the team (distinct from individual engagements). 

Requirements

The following skills are required for this role:

Essential skills:

  • Prior knowledge of the insurance sector, including a good understanding of conduct regulation and regulatory expectations faced by insurers and brokers; 

  • Experience advising, supervising or working for insurers/brokers in either a risk and compliance or regulatory capacity;

  • An ability to understand, interpret and communicate complex regulation to a range of audiences;

  • Good client handling and relationship management skills;

  • Strong written and verbal communication skills;

  • Problem solving and ability to implement and deliver solutions tailored to clients’ needs; and

  • Experience of working in a team environment, collaborating to deliver projects on time and to a high quality.

Desirable Skills:

The range of technical skills our clients are looking for is broad. Whilst we welcome applications from all those who fit with the responsibilities and essential skills set out above, we particularly would welcome applicants with skills in one or several of the following areas:

  • IDD; Product Oversight and Governance, Pricing, COBS

  • Conduct risk frameworks, including product governance;

  • Regulated activities and regulatory permissions;

  • Governance requirements and expectations;

  • Prudential requirements for brokers, including Threshold Condition 2.4 assessments;

  • Experience in undertaking or reviewing regulatory processes e.g. approvals and notifications; and

  • Experience in designing, implementing or reviewing risk management frameworks for insurers and brokers.


Risk
Risk is all around us and in our complex world, is changing all the time. Our teams bring people from diverse backgrounds together, using their skills and cutting-edge technology, to help solve complex problems. We are pioneers in a world of changing risk and our market leading services build resilient organisations. Join us and together, we can support our clients to rethink risk.


Not the role for you?
Did you know PwC offers flexible career arrangements and contract work? Learn more.

The skills we look for
The PwC Professional is our global framework for defining and encouraging leadership at all levels. Learn more.

The Deal
‘The Deal’, our firmwide Employee Value Proposition’ empowers our people to be the best they can be. Learn more.

Our commitment to you
We’re committed to building a culture that empowers all of our people to thrive and feel a sense of belonging at PwC. Learn more.

Application support
If you’re a person with a disability, if you’re neurodivergent, or if you have a condition that you believe may affect your performance during our selection process, we’ll be happy to make reasonable adjustments to our processes for you. Learn more.

Company

Our values define how we do things. And our purpose is why we exist - now more than ever - to build trust in society and solve important problems for our clients and our communities. In a world we no longer recognise, we need to rely on the strength and agility of our people to help us to navigate these uncertain times.

We're committed to ensuring that care and our people's wellbeing remains central to our culture. While we may not know what’s ahead, we can do all we can to help shape the future. As we continue to navigate this unprecedented time, it’s important that we support our people, to help them take care of themselves and to ensure the right support is available when it’s needed.

For now, we ask you to join our talent network and stay in touch with what’s happening in real time, including new possibilities as they arise. Visit our website for more information on how we’re responding to this pandemic and what changes we’re making to our recruitment process. 

Stay safe and stay connected in this rapidly changing world.

PwC

Opportunities are at the heart of a career with us.   Opportunities for you to sharpen your skills, collaborate with experts, build lasting relationships and make an impact in a place where people, quality and value mean everything.

Our offer to you...

·         Be part of the world’s leading professional services network and enjoy the benefits that come with that.

·         Meet and collaborate with highly talented people from diverse backgrounds, developing new ways of thinking, creating value for you, for PwC and for our clients.

·         Work in a challenging and stimulating environment where you’ll be inspired to reach your full potential.

·         Identify and develop your skills, build on your existing strengths and discover new ones you didn’t know you had. Watch your expertise and influence grow with us.

 

The PwC deal

No matter which area of the business you choose to join, all offer the same deal.  The opportunity to grow as an individual, to meet new people, and build lasting relationships that will stay with you for life.  All whilst making an impact in a place where people, quality, and value, mean everything.  Your hard work will be rewarded with a competitive salary and a personally tailored benefits package.

 

What you need to bring to us

Your intellect, willingness to learn, ability to build relationships, put yourself in others’ shoes, while always making a positive impact with our clients and each other.

The skills, insights and connections you develop at PwC are career defining wherever your career may take you. It’s the opportunity of a lifetime. Take it.

 

 

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