Conduct Risk Manager

AXA XL
London
1 month ago
Applications closed

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Conduct Risk Manager

London, UK

The mission of the Delegated Authority Service Centre (DASC) is to support the AXA XL UK & Lloyd's ambition to be the preferred insurer for Delegated Authority business in the London Market by providing top-tier service internally and externally throughout the delegated authority process.

The DASC management team, led by the DASC Director, will consist of an Onboarding and Due Diligence Manager, Operations and Data Reporting and Analytics Manager, Oversight Manager, and a Services and Delivery Manager.

Reporting to the DA Oversight Manager, you will lead the Conduct Risk Team for the UK & Lloyd's business unit in London. Your primary responsibility is to drive compliance with the delegated authority framework, ensuring adherence to regulatory requirements, maintaining high standards for coverholder onboarding, and ongoing oversight and product governance.

Collaboration across the delegated service centre with relevant experts is essential to create a unified approach and improve regulatory relations. Your efforts will safeguard the company's interests and streamline delegated authority activities, making it easier for clients, coverholders, brokers, and internal clients to conduct business with AXA XL.

Delegated Authority is a material element of the UK & Lloyd's BU business, representing circa $1bn GWP with over 250 Coverholders across multiple global territories. The role requires overseeing coverholder onboarding, annual binder renewals, Lloyd's & FCA compliance, product oversight, complaints management, audit management, and remediation and exit strategies.

The Conduct Risk Team is a small team of 4 all based in London with a high volume of BAU, so you will be required to have experience in managing a team in a high-pressured environment. In addition, there are 4 members of the team based in India with a local manager and you will also be the main driving force in ensuring the two teams work together to achieve AXA XL's compliance to conduct regulations and goals.

DISCOVER your opportunity

What will your essential responsibilities include?

  1. Establish and Maintain Conduct Framework: Collaborate with the DA Oversight Manager and DASC Director to ensure compliance with FCA, PRA, Lloyd's, and other regulators. This includes reviewing and updating policies, drafting new procedures, and overseeing onboarding and oversight of Coverholders and Delegated Claims Administrators.
  2. Regulatory Implementation: Lead the implementation of new regulatory requirements in collaboration with other business functions.
  3. Conduct Risk Reporting: Provide regular reports on conduct risk, offer guidance, and critical analysis to stakeholders and committees (PDG, POG, CC). Attend and sometimes chair meetings, oversee production of Conduct Risk packs, and present detailed analyses.
  4. Promote Conduct Risk Culture: Work with the DA Oversight Manager to advise DASC Teams on FCA and Lloyd's requirements, and design and deliver Conduct Risk training.
  5. Enhance Conduct Risk MI: Support the team in developing PowerBi dashboards and maintaining Conduct Risk and Consumer Duty MI.
  6. Team Management: Oversee team tasks, provide monthly reports to the COO/Board, manage Conduct Risk and Consumer Duty mailboxes, and handle team performance and appraisals.
  7. Annual Fair Value Assessment: Ensure completion of FCA-required Annual Fair Value Assessment for all customer products in scope and mitigate foreseeable harm.
  8. Consumer Duty: Drive Consumer Duty initiatives, complete relevant policies and procedures, and present the quarterly Consumer Dashboard to the PDG and Customer Committee.
  9. Due Diligence and Training: Conduct due diligence on new distribution methods, manage POG activities, and collaborate with other POG functions involved in the process.
  10. Regulatory Relationships: Assist in managing relationships with FCA and Lloyd's and prepare internal and external reports.


SHARE your talent

We're looking for someone who has these abilities and skills:

  1. Extensive experience in Conduct or Compliance management role.
  2. Expert knowledge of relevant FCA legislation, including Consumer Duty, PRIN 2A, ICOBS, PROD, Lloyd's Delegated Codes of Practice, Conduct Standards and Principles for Doing Business.
  3. Detailed knowledge of general insurance products and their operation.
  4. Excellent communication skills; verbal and written.
  5. Excellent organisational skills and able to work on own initiative.
  6. Established project management skills.
  7. A desire to keep pace with changes to legislation, regulations and market practice and responding to regulatory consultations.


FIND your future

AXA XL, the P&C and specialty risk division of AXA, is known for solving complex risks. For mid-sized companies, multinationals and even some inspirational individuals we don't just provide re/insurance, we reinvent it.

How? By combining a comprehensive and efficient capital platform, data-driven insights, leading technology, and the best talent in an agile and inclusive workspace, empowered to deliver top client service across all our lines of business - property, casualty, professional, financial lines and specialty.

With an innovative and flexible approach to risk solutions, we partner with those who move the world forward.

Learn more at axaxl.com

Inclusion & Diversity

AXA XL is committed to equal employment opportunity and will consider applicants regardless of gender, sexual orientation, age, ethnicity and origins, marital status, religion, disability, or any other protected characteristic.

At AXA XL, we know that an inclusive culture and a diverse workforce enable business growth and are critical to our success. That's why we have made a strategic commitment to attract, develop, advance and retain the most diverse workforce possible, and create an inclusive culture where everyone can bring their full selves to work and can reach their highest potential. It's about helping one another - and our business - to move forward and succeed.

  • Five Business Resource Groups focused on gender, LGBTQ+, ethnicity and origins, disability and inclusion with 20 Chapters around the globe
  • Robust support for Flexible Working Arrangements
  • Enhanced family friendly leave benefits
  • Named to the Diversity Best Practices Index
  • Signatory to the UK Women in Finance Charter


Sustainability

At AXA XL, Sustainability is integral to our business strategy. In an ever-changing world, AXA XL protects what matters most for our clients and communities. We know that sustainability is at the root of a more resilient future. Our 2023-26 Sustainability strategy, called "Roots of resilience", focuses on protecting natural ecosystems, addressing climate change, and embedding sustainable practices across our operations.

Our Pillars:

  • Valuing nature:How we impact nature affects how nature impacts us. Resilient ecosystems - the foundation of a sustainable planet and society - are essential to our future. We're committed to protecting and restoring nature - from mangrove forests to the bees in our backyard - by increasing biodiversity awareness and inspiring clients and colleagues to put nature at the heart of their plans.
  • Addressing climate change:The effects of a changing climate are far reaching and significant. Unpredictable weather, increasing temperatures, and rising sea levels cause both social inequalities and environmental disruption. We're building a net zero strategy, developing insurance products and services, and mobilizing to advance thought leadership and investment in societal-led solutions.
  • Integrating ESG:All companies have a role to play in building a more resilient future. Incorporating ESG considerations into our internal processes and practices builds resilience from the roots of our business. We're training our colleagues, engaging our external partners, and evolving our sustainability governance and reporting.
  • AXA Hearts in Action:We have established volunteering and charitable giving programs to help colleagues support causes that matter most to them, known as AXA XL's "Hearts in Action" programs. These include our Matching Gifts program, Volunteering Leave, and our annual volunteering day - the Global Day of Giving.


For more information, please see axaxl.com/sustainability#J-18808-Ljbffr

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