Title: Senior Conduct Risk Analyst 
Location: London/ Hybrid 
Salary: £competitive

About the role 

To support the effective design and operation of the business conduct risk management framework with particular responsibility for ensuring that Brit Insurance effectively manages its conduct risk in respect of delegated business.

• Support the operation of Brit’s wider conduct risk management framework through the maintenance, development and where necessary enhancement of procedures and systems in relation to the management of conduct risk and the Consumer Duty.
• Support the maintenance and development of the framework for managing conduct risk and Consumer Duty across delegated underwriting ensuring that all regulatory requirements are met, considering any emerging conduct risks and regulation.
• Communicate the conduct framework requirements, policies and procedures through reporting and delivering appropriate training for relevant business teams.
• To support the maintenance of the conduct risk assessment methodology for binding authority business.
• To coordinate the conduct aspects of binder management with all relevant parties including DUMU, Claims, Wordings, Complaints and Underwriting and work with the coverholder due diligence and audit functions as well as the Head of Conduct Risk and Complaints to ensure a seamless process.
• Ensure that conduct risk assessments are undertaken on all new and renewing coverholders by underwriters, reviewing and approving any changes where necessary.
• Ensure that all due diligence actions emanating from the conduct risk assessments are completed in a complete and timely manner.
• Manage the completion of annual product reviews and fair value assessments for new and existing products in line with PROD.
• Responsible for maintaining Target Market and Fair Value Statements for each product for issuance to our distributors.
• To produce and present conduct related management information that facilitates operational and executive oversight of Brit’s delegated authority book including:
• performance against internal KPI’s, the conduct risk profile of Brit’s business, conduct oversight activity of Brit’s high conduct risk binders and Consumer Duty business and internal audit activity relating to conduct risk.
• Review conduct MI to assess customer outcomes, complete root cause analysis and ensure accountability where systemic breaches of the Consumer Duty are identified.
• To provide conduct relevant input into the scoping of coverholder and DCA audits and assist the audit team in the review, resolution and reporting of conduct related recommendations arising from audits.
• Design and build and operate appropriate product controls to mitigate conduct risks surrounding binding authorities.
• Participate in conduct risk reviews of the business including thematic and deep-dive reviews on conduct risk topics. Provide input, advice and challenge to control functions undertaking conduct assurance activity.
• Manage the completion of customer communication reviews for high conduct risk business. 
• To liaise with Lloyd’s on conduct issues or queries relating to the management of the binder book and support in any regulatory visits, reviews and requests for information as required.
• To support the Head of Conduct Risk and Complaints in the submission of regulatory returns to the FCA and Lloyd’s.
• Assisting the Head of Conduct Risk and Complaints with the implementation of regulatory change.
• To support project work relating to the implementation of new systems and processes to improve the management and reporting of conduct work.
• To assist in other work of the Legal & Regulatory team as required.

Decision Making Responsibilities:

• Conclude on appropriate conduct risk ratings of binders, identifying appropriate controls to manage these.
• Present results of outcomes monitoring to the Product Review Panel for high risk binders and Consumer Duty business. Identify issues for escalation to governance committees making appropriate recommendations for mitigating actions.
• Determining the outcome of annual product reviews and fair value assessments.
• Agree action plans for handling conduct related audit recommendations in conjunction with the audit team and Head of Conduct Risk and Complaints.
• Recommending any changes or improvements to conduct procedures and processes for review by senior management.

Regulatory Conduct Rules:
1.    Act with integrity.
2.    Act with due skill, care, and diligence.
3.    Be open and co-operative with Lloyd’s, the FCA, the PRA, and other regulators.
4.    Pay due regard to the interests of customers and treat them fairly.
5.    Observe proper standards of market conduct.
6.    Act to deliver good outcomes for retail customers. 

Education, Qualifications, Knowledge, Skills and Experience:

• Educated to degree level or equivalent.
• ACII beneficial but not required.
• Good knowledge of insurance industry practices and current regulatory requirements of Lloyd’s and the FCA for management of Conduct risk (in particular the Lloyd’s Principles).
• Experience in operating conduct controls within an assurance function (e.g. compliance, audit, delegated underwriting management) or in oversight of these within a regulatory team.
• FOS / complaints handing experience desirable but not essential.
• Good communication and interpersonal skills; able to handle difficult issues with diplomacy and persuasiveness whilst maintaining relationships.
• Ability to exercise judgement, balancing theory/principles with pragmatic and commercial considerations.
• Strong written communication skills; able to present complex information in a readily understandable manner using English appropriate to a senior management audience.
• The ability to work well as a team and manage expectations of stakeholders effectively.
• The ability to work independently and on own initiative.
• Ability to meet deadlines and motivate others to do the same.
• Ability to prioritise effectively balancing ongoing tasks with project work and reporting deadlines.