Audit & Compliance Monitoring Officer

Department: Risk and Compliance

Employment Type: Permanent - Full Time

Location: Pune

Description

The role sits within the Group Compliance function of the GRC department.

The team's focus is to support the business to ensure all legislative, regulatory and best practice requirements are met.

The Team's key deliverables are to provide: -

• Monitoring and assurance oversight for the Group
• Advisory compliance to business stakeholders
• Guidance and support to strengthen the control environment, including policy framework
• The Audit & Compliance Monitoring Officer will primarily assist the Audit and Monitoring Manager with the effective operation of the Audit & Compliance Monitoring Framework to ensure all legislative, regulatory and policy requirements are met.
• Providing support in the maintenance of the control environment, you will work in unison with the other Compliance Officers and members of the Group Risk Team where there is a cross-over of responsibilities in order to ensure optimum efficiency and effectiveness of the Risk function.

Key Responsibilities

• Assist in the development, enhancement and delivery of the Group Compliance Monitoring and Assurance Plan (CMP)
• Support the Audit and Monitoring Manager to provide quarterly updates and reporting to the Head of M&A Compliance & Group Governance on levels of Compliance arising from specific monitoring.
• Proactively review and evaluate business management information, and where necessary investigate trends to establish if focused monitoring activity is required.
• Prepare and produce Terms of Reference for Thematic Reviews
• Carry out thematic monitoring reviews in line with the CMP and production of high-quality reports and recommendations.
• Completion of quality assurance spot checks throughout the Group along with relevant management information and reports.
• Investigating breaches and making recommendations for resolutions.
• Providing advice and guidance to the business on necessary actions to achieve compliance, addressing issues arising from monitoring reports through to resolution.
• Maintaining a robust audit trail of observations, conclusions and management responses.
• Ownership and maintenance of the Compliance Audit and Monitoring Actions Tracker
• Provide regular reporting ensuring stakeholders are informed of risks. Including development of appropriate KPIs & metrics.
• Work with the wider Group Governance Team to ensure awareness of risks and issues across each of their relevant business areas.
• Develop and maintain strategic relationships with key stakeholders across the Group in order to promote Compliance culture.
• Providing general Compliance support to other Group Compliance Team members and the Head of Group Compliance as and when required.

Skills, Knowledge and Expertise

• Minimum 3 years of relevant experience within an audit or monitoring role in an FCA, SRA or equivalent regulated environment
• A combination of higher education and industry and/or role specific qualifications e.g., CII Diploma in Insurance
• Teamwork - the ability to engage with all members of the team and to work together effectively
• Good knowledge of the insurance industry / UK regulatory environment
• Good knowledge & understanding of Compliance policies & procedures
• Excellent stakeholder management and interpersonal skills, with the ability to deliver in a fast-paced and challenging environment
• Excellent written and verbal communication skills; including the ability to communicate with technical and non-technical users
• Flexible approach and attitude to finding solutions to challenging situations
• Strong planning and organisation skills, with the ability to react to business needs & risks, and producing material in a timely manner