Head of UK risk & compliance
This role will report to the motor services director responsible for ensuring the regulatory requirements of the Innovation Group are met, and to support the compliance activity within the business. The suitable candidate will be required to ensure compliance to the FCA regulations and to sustain the standards as defined by the business. You will be defining the strategy of compliance to internal and external policy and procedures.
- Responsibility at a senior level for ensuring Innovation Group UK is compliant with relevant regulatory, legal and ethical requirements.
- To lead a team to monitor, report and support all compliance activity.
- Responsible for supporting the prevention and detection of any compliance breaches while taking a lead role in resolution should breaches occur.
- To set effective operational measures and processes to ensure all business activity is performed within the risk and compliance boundaries, across all UK IG products and services.
- The primary responsibility of ensuring full compliance to the FCA regulations and driving the business to consistently and sustainably adhere to the defined standards.
- Define the strategy and target operating model that ensures compliance to all relevant external regulations and internal policy and procedures.
- To work in collaboration with group on the creation of group policies within the UK business.
- Provide the necessary training, frameworks and training to ensure full compliance to all policies at a local and national level.
- Ensure IG achieve the required certification to demonstrate to its employees, clients and stakeholders and the market in general that it operates ethically and responsibly.
- Create and lead an Audit Function that supports the business in achieving the required standards.
- To identify potential breaches and the interventions required to protect the business.
- Support the bid response team in evidencing to potential clients our risk capability, risk appetite and risk framework.
- Keeps the business informed and advises on any forthcoming regulatory changes and ethical standards that could impact the business.
- Takes ownership of the relationships with UK regulators and completes any formal documentation and reports that are required to achieve accreditation and compliance.
Knowledge & skills required:
- A strong understanding of FCA regulations and requirements.
- Has knowledge of creating and embedding risk frameworks.
- Has the capability to define a company’s risk appetite and set the parameters to ensure compliance.
- Extensive knowledge of the legal implications for non-compliance.
- In depth knowledge of GDPR.
- Wider knowledge of the general insurance and financial services market.
- Ability to analyse data and make recommended changes.
- Previous experience in creating a risk and compliance function.
- Proven experience of operating and influencing at an executive level.
- Substantial experience of working in a regulated industry.
- Demonstrable experience of leading a risk team and has proven leadership capability.
- Current driving licence and car owner.
- Ability to travel to meet UK requirements as required.
Innovation Group manages critical incidents in the car and home on behalf of the world’s leading insurers, brokers and fleet managers, together with warranty and service plan provision for many OEMs and automotive dealerships, globally. We bring together a world-class supplier network, outstanding people and sophisticated technology platforms to provide three principal advantages to our clients and their customers.
Our 3,300 employees across Europe, North America, Africa, Asia and Australia serve over 1200 clients, including 15 of the top 20 global general insurers and three of the top five fleet and lease management companies. We aim to continually go beyond expectations for our clients and their customers. Each year we process over four million insurance claims, saving leading insurers tens of millions of pounds; we create thousands of sales opportunities for dealerships and OEMs through our service plan and warranty business; and we apply the data we gather to lead positive change across all the sectors we service.
Company values and behaviours
We believe in going beyond expectations for our clients and their customers at every turn. Our aim is to inspire positive change in the sectors we serve. To do this we are clear, visionary, can-do, together and transformational.
Clear – We are customer focused, and this gives us complete clarity on where we’re going and why. Improving the customer experience and delivering in the moment of truth is everything. We have a clear sense of others’ needs and have the depth of knowledge that enables us to respond.
Visionary – We constantly look at things differently, question the status quo, ask ‘what if…?’ We’re imaginative. Not only does our culture give permission to be thought provoking, innovative and creative, these things are highly valued and rewarded. We’re ambitious for improvement.
Can-do – We’re a positive, can-do organisation, which makes it a happy place to work in and a great organisation to deal with. We recognise that people work better when work is fun – we want them to enjoy every day. We all strive to create an ethos in which great ideas can get ahead.
Together – We work together to make things happen: we’re collaborative. Fundamental in making togetherness real and credible is being trustworthy. That means being consistent in our level of service; reliable in doing what we say we’ll do, when we say we’ll do it; and open and honest in our dealings.
Transformational – The combination of all of these qualities gives us the power to take things further for our clients and their customers. We want to go beyond what people thought possible and be a formidable force for transforming the customer experience of risk and the impact of incidents on lives.