Compliance Manager
RenaissanceRe.com
Office
London, United Kingdom
Full Time
Renaissancere Is A Leading Writer Of Property & Casualty Reinsurance. For Over 25 Years, We Have Helped Customers And Communities Recover And Build Resilience Through Our Industry-Leading Ability To Understand Risk, Source Efficient Capital And Rapidly Pay Claims.
Our Global Team Shares A Passion For Solving Our Customers’ Biggest Problems Through A Collaborative And Entrepreneurial Culture That Empowers Employees And Rewards Creative Thinking.
About RenaissanceRe Syndicate Management Limited (“RSM”)
RSM is the managing agent of RenaissanceRe Syndicate 1458 at Lloyd’s which was established in 2009 and writes a range of insurance and reinsurance products including across Property, Casualty and Specialty.
Our syndicate writes in excess of USD 1billion of premium, with a focus on helping our clients manage the risks of operating in a volatile and uncertain world. We’re experts in Property, Casualty, Specialty, and Credit (re) insurance, consistently recognized for the innovative way we combine data, experience and technology to understand and manage large and complex risks across the world. We are also a business with a real social purpose - we help protect communities around the globe and enable prosperity for all. Our purpose drives us forward every day as we seek solutions to some of the world's most complicated challenges. To learn more, please visit us at Careers - RenaissanceRe (renre.com).
About The Position
Reporting to the VP, Senior Compliance Manager, the Compliance Manager will provide support to the RenaissanceRe Syndicate Management Limited (“RSM”) Compliance functions in a wide variety of areas. You will be part of the Legal, Regulatory & Compliance team working closely with Underwriters, the Delegated Underwriting Solutions Team (“DUST”) and the Claims team.
Key Responsibilities
- To work closely with DUST and manage queries and referrals relating to financial crime, conduct risk, complaints handling, licensing and general compliance queries relating to delegated underwriting arrangements.
- To maintain a robust framework for implementing requirements from applicable legal and regulatory developments to support the business in achieving regulatory compliance on an ongoing basis.
- To oversee the annual Policy refresh for Policies managed by Legal, Regulatory & Compliance in the UK and lead on training on key policies such as the RSM Underwriting Controls Policy.
- To provide support to the broader Compliance team on financial crime and sanctions compliance.
- Oversee controls related to timely and accurate submissions of regulatory returns to the PRA, FCA, Lloyd’s and Lloyd’s Insurance Company which are managed by LR&C.
- To be responsible for monitoring key regulatory developments which may impact RSM.
- To provide assistance to the Senior Compliance Manager in performing product risk assessments.
- To act as the Secretary to the Customer Review Committee (our Product Oversight Group) and maintain papers and minutes;
- To provide assistance to the Senior Compliance Manager in preparing the annual Principles for Doing Business at Lloyd’s attestation process and provide guidance to the business where needed.
- To help design and perform testing on key risks and controls across the business.
Candidate Qualifications:
- Strong knowledge of Lloyd’s and FCA requirements.
- Strong and relevant experience working within a Compliance team in a Managing Agent or a UK insurer.
- Good knowledge and experience of binding authorities and delegated claims administrators.
- Good knowledge and experience of financial crime and sanctions requirements applicable to Lloyd’s Managing Agents.
Leadership Competencies & Values:
- Impact: Sets objectives, delivers results, and implements policies/operational targets with direct impact on the department or individual work outcomes
- Execution: Proactively identifies resources, actions and timelines needed to achieve objectives, effectively balancing tactical pressures with broader implications and downstream impact
- Communication: Shares relevant information in a timely manner with stakeholders and conveys points of view in a way that influences opinions and demonstrates flexibility
- Client and solutions focus: Identifies process and service opportunities that enhance the external and internal client experience and outcomes
- Innovation: Stretches self and others to think differently and innovatively, drawing upon multiple sources for ideas and inspiration
- Learning mindset: Seeks out and explores new assignments, exposure, or challenges in order to enhance technical skills
- Values: Exemplifies and champions RenaissanceRe’s core values of Focus, Respect, Integrity, Precision, Passion
We believe that meeting these requirements will position you for success in the role. However, if you fulfill most – but not all – of the expectations, we still encourage you to apply, as we are eager to explore your potential and believe in the ability to grow and learn.
At RenaissanceRe, we believe in creating a workplace culture that fosters diversity, equity, and inclusion throughout our business. We have a zero-tolerance policy for harassment and discrimination and take proactive steps to make employees feel valued and empowered to contribute to our collective success. It is RenRe’s policy to ensure equal employment opportunity without discrimination or harassment based on race, color, religion, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity or expression, age, disability, national origin, marital or domestic/ civil partnership status, genetic information, citizenship status, uniformed service member or veteran status, or any other characteristic protected by law.