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Associate Director at FK International - Financial Search and Selection
In this role of Governance & Control Manager in Insurance your focus will purely be on the Underwriting department. You’ll be in charge of the first line of defence making sure the right controls are in place on a day-to-day basis.
Taking the longer term view, as new risks emerge or as regulations change you’ll be also ensuring that the risk to the business from these is minimised.
On both of these fronts this means working in conjunction with Underwriting Managers, looking at existing processes, seeing if we can reduce the scope for manual error and generally making sure there’s clarity in what our policies and procedures are – and if they do need to be changed, stepping in to guide that process.
So, why this role now? Really, this is a growing area in all insurance companies – with regulation increasing. Things like IDD, and in particular the added burden from developments in Product Oversight & Governance protocols. All of these things are evolving with the CBI adding scrutiny levels.
In particular the product governance side will certainly be a key element in your role. This means monitoring the performance of products to ensure they continue to be a fit for the customer. And if there are any product enhancements or material changes to oversee that from a governance perspective.
Lastly, there will be an element of regulatory horizon scanning to keep an eye on. This will chiefly be done by risk and compliance departments but you will be sync’ing in with them to be aware of what’s coming and of course to examine what are the impacts any new regulation will have on underwriting operations.
Just as an example of what’s on the horizon currently – there will soon be changes to the Consumer Protection code – there’ll certainly be a project there that you will lead to ensure that whatever comes out of that, that we have the right framework in place for operationalising it correctly.
Your Background:
* Relevant professional (ACII preferable) and/or 3rd level qualification
* Experience within a non-life insurance company or intermediary.
* Proven track record of experience in a governance/operational risk/controls led role in the non-life insurance industry
Seniority level
Mid-Senior level
Employment type
Full-time
Job function
Product Management, Quality Assurance, and Accounting/Auditing
Industries
Insurance
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