Compliance Analyst

This is an opportunity to join Ascot Group - one of the world’s preeminent specialty risk underwriting organizations.

Designed as a modern-era company operating through an ecosystem of interconnected global operating platforms, we’re bound by a common mission and purpose: One Ascot. Our greatest strength is a talented team who flourish in a collaborative, inclusive, and entrepreneurial culture, steeped in underwriting excellence, integrity, and a passion to find a better way, The Ascot Way.

The Ascot Way guides our people and our organization. Our underwriting platforms collaborate to find creative ways to deploy our capital in a true cross-product and cross-platform approach. These platforms work as one, deploying our capital creatively through our unique Fusion Model: Client Centric, Risk Centric, Technology Centric.

Built to be resilient, Ascot maximizes client financial security while delivering bespoke products and world class service — both pre- and post-claims. Ascot exists to solve for our clients’ brightest tomorrow, through agility, collaboration, resilience, and discipline.

Job Purpose: 

To work closely with the Senior Compliance and Compliance Team Manager in implementing the compliance framework and related compliance activities in London and Bermuda.

To help implement and embed the compliance framework, execute the annual compliance plan, oversee related policies, procedures, processes and controls within London and Bermuda. 

The Compliance Analyst will work across departments to proactively develop positive relationships as they help embed the compliance framework and work with the Function to execute the annual compliance plan.

Detailed Duties:

Assisting the Senior Compliance Manager with the following: 

• Reviewing systems and controls that ensure Ascot’s operations in the UK and Bermuda are compliant with all of:
  • Lloyd’s of London (“Lloyd’s”);
  • The Prudential Regulatory Authority (“PRA”);
  • The Financial Conduct Authority (“FCA”);
  • The Bermudan Monetary Authority (“BMA”); and 
  • Other regulators’ requirements.
• Acting as a compliance professional and ensuring the Compliance Team is responsive to and supportive of the business.  
• Working with the Compliance Team to support, understand and advise the business in a proactive, open and transparent manner, balancing regulatory and commercial requirements.
• Taking responsibility for acting as a regulatory advisor and keeping abreast of all regulatory activity across relevant jurisdictions. Making sure all areas of the business meet applicable regulatory requirements.
• Reviewing policies, procedures and associated systems and controls to ensure they are working efficiently and effectively.

Compliance:

• Working with the Compliance Team to help embed the compliance framework and all relevant systems and controls. 
• Assisting with the design and execution of the annual Compliance Plan and providing regular updates to the Senior Compliance Manager about its progress. 
• Ensuring that training and development regarding compliance matters are in place for all Ascot staff and adhered to (for example in areas such as Conduct Rules, Whistleblowing, Sanctions and Financial Crime, and Business Ethics). Working with the HR department to manage a documented training programme, tailored to meet regulatory requirements.
• Employers Liability Register Maintenance & Audit – Supporting the Senior Compliance Manager and Compliance Team on ELTO matters, which includes the annual Ascot’s Employers Liability Register Annual audit process, liaising with external auditors, reviewing policies and any associated remediation.
• Assisting with the management of Ascot’s SM&CR framework, including advising on the allocation of functions and prescribed responsibilities, the application process and notifications to Lloyd’s, the PRA and the FCA, as required.
• Drafting new / updating existing underwriting authority templates for underwriters and completing the annual renewal process.
• Assisting with the design of a compliance monitoring programme to provide assurance and ongoing reporting of key compliance and business risks on a range of issues including:
  • New broker applications and adherence to credit limits;
  • Licensing restrictions and international trading requirements;
  • Ascot’s underwriting authority control and monitoring framework;
  • The complaints handling processes and procedures; and
  • Other areas as required by the Senior Compliance Manager.

Culture:

• Supporting the promotion and development of a culture of proactive compliance within Ascot. Proactively engaging with the business to support and enable growth in a compliant manner across underwriting divisions.
• Supporting the development of an open and cooperative relationship with Lloyd’s, the PRA, the FCA, the BMA and other regulatory bodies.
• Developing positive relationships with, and working closely with key stakeholders within the Function, with Legal, Risk, Delegated Authority, senior underwriters, their teams and the business. 
• Maintaining a proactive, positive, and open working relationship with the Compliance Team and the Function.

Reporting and Governance:

• Assisting with drafting appropriate Board, Committee or other governance papers on compliance or regulatory matters as required. This includes assisting with the provision of papers for the: 
  • AUL Board;
  • AUL Risk Committee;
  • AUL Executive Committee;
  • ABL Executive Committee; and
  • Any other Board, Committee, governance bodies or meetings as required and directed by the Head of Compliance. 
• Advising on any submissions or regulatory returns to Lloyd’s, the FCA or any other regulator as required by the Senior Compliance Manager. 
• Ensuring relevant regulatory deadlines are entered within Ascot’s Regulatory Diary system and monitored periodically.

Horizon Scanning (UK and Bermuda):

• Responsibility for keeping abreast of planned new regulations, legislation and thematic reviews that may impact how Ascot conducts and monitors its business.

Financial Crime:

• Where required by the Senior Compliance Manager, working closely with the Financial Crime Team to help ensure Ascot remains compliant with all appropriate sanction and financial crime legislation. 

Conduct & Complaints:

• Where required by the Senior Compliance Manager, working closely with the Conduct & Complaints Team to help ensure Ascot adheres to all relevant conduct risk and consumer duty requirements and continues to place needs of the customer at the heart of Ascot’s business. 

Other:

• Ad-hoc projects as determined by the Senior Compliance Manager or Head of Compliance.
• Attending regulatory and legislative change-related seminars, webinars, conferences, and market forums if and when required.

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