Insurance – Prudential Regulatory Consultant - Manager

Who we are looking forWe are looking for individuals at Manager grade who have relevant experience and knowledge of prudential regulation and accounting in the insurance market to advise and support the delivery of regulatory projects to our large number of clients in this sector. PwC is the leading risk and regulatory advisory firm in this space and our team is looking for additional talent to supplement the team as we look to expand.
Background to the Insurance Regulatory Market

The regulatory environment for the insurance industry in the UK is continuously changing. Firms have had to adapt their business models and respond to the changes arising from Brexit, the challenges of Covid-19 (both operationally and financially), the slowdown in UK/Global economic growth, increased economic volatility and rates of inflation, just to name a few examples. Similarly regulation and regulator expectations have been evolving, including the implementation of Consumer Duty, Solvency UK reforms and developing regulations in respect of recovery and resolution planning.

Insurers, insurance intermediaries and investors into the sector are continually looking to evolve and grow their businesses by expanding their products and services and the markets they operate in through both organic and inorganic means. Firm's are are looking to optimise their businesses through new technologies, adopting more efficient processes and to optimise their use of capital through the use of models and structures. Firms need support in navigating regulation as they seek to achieve their commercial objectives and make insurance more widely available and our clients 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 intermediaries 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:

• Building meaningful relationships with clients and internally across the PwC network through client engagements and networking;
• Being the main client contact and lead manager on engagements, or supporting more senior team members in this role on larger or more complex projects;
• Coaching more junior team members and reviewing their work;
• Preparing regulatory analysis and reports;
• Being agile and working across a range of different subjects and projects;
• Developing specialist regulatory knowledge and supporting our subject matter experts in delivering insight and expertise in areas of regulation, potentially moving towards being a subject matter expert yourself;
• Identifying and assessing key controls for demonstrating compliance with applicable regulations;
• Technical research, analysing current and emerging regulation and supporting an assessment of their impact on a client or the sector generally;
• Communication of regulatory findings, verbally and written, to clients in a pragmatic and helpful manner;
• Supporting senior team members in identifying and developing opportunities through marketing and sales activities and client contact programmes with senior client staff.

Requirements

The following skills are required for this role:

Essential skills:

• Prior knowledge of the insurance sector, including a strong understanding of prudential regulation (Solvency II) and regulatory expectations faced by insurers;
• Experience advising, supervising or working for insurers in a risk, regulatory or capital & reporting capacity;
• An ability to understand, interpret and communicate complex prudential regulation to a range of audiences;
• Strong client handling and relationship management skills;
• Strong written and verbal communication skills;
• Experience of problem solving and ability to implement and deliver solutions tailored to clients' needs; and
• Ability to manage and deliver against deadlines while working on multiple projects.