Compliance Manager

AdA Underwriting Limited is a leading start-up insurance organisation providing marine, energy and speciality insurance solutions in the Lloyd’s / London market via AdA Syndicate 2024.We are seeking a highly motivated Compliance Manager to join the team, reporting to the Chief Risk and Compliance Officer (CRCO). This role offers strong career development opportunities and the chance to help shape the compliance function as the business evolves from a start-up Syndicate.This is a unique opportunity to play a key role in designing and embedding a proportionate, effective compliance framework, while working closely with senior stakeholders and third-party providers, including oversight of our outsourced compliance partner.Key Responsibilities of the RoleThe primary purpose of this role is to support the CRCO in establishing, embedding and operating the compliance framework, ensuring adherence to all applicable regulatory requirements (Lloyd’s, PRA, FCA) and promoting a strong culture of compliance across the organisation.The role includes day-to-day ownership of the financial crime framework, and oversight of the relationship with compliance monitoring outsource provider, ensuring high-quality delivery of outsourced compliance services aligned to AdA’s needs.In addition to the BAU responsibilities set out below, the Compliance Manager will be responsible for ensuring effective migration of the Compliance Function from the incumbent managing agency, including bringing ideas as to how the compliance framework can be enhanced and improved for the new managing agency.Key ResponsibilitiesCompliance Framework & AdvisorySupport the design, implementation and ongoing enhancement of the Compliance Framework, ensuring it is proportionate to the scale and complexity of the business.Provide clear, pragmatic and timely compliance advice to underwriting teams and business functions.Support pre-bind underwriting referrals, providing compliance input on regulatory, conduct and financial crime considerations, including sanctions and due diligence queries.Promote strong conduct risk standards, ensuring fair customer outcomes and alignment with regulatory expectations.Provide advice and oversight on product governance, distribution arrangements and conduct-related matters.Promote a strong compliance culture through training, communication and stakeholder engagement.Deliver compliance and financial crime training across the business.Regulatory Compliance & MonitoringSupport adherence to Lloyd’s, PRA and FCA requirements, including the Lloyd’s Principles and Minimum Standards.Deliver the annual Compliance Plan, ensuring effective execution of compliance monitoring activities.Oversee and coordinate compliance monitoring reviews (including those delivered by outsourcers), ensuring findings are documented, tracked and remediated.Maintain awareness of regulatory developments and assess their impact on the business.Relationship Management – (Outsourced Compliance monitoring provider)Act as the primary relationship manager for the outsource, overseeing delivery of outsourced compliance services.Ensure service quality, timeliness and relevance of outputs, including monitoring reviews and advisory support.Provide direction, oversight and constructive challenge to ensure services are aligned with AdA’s risk profile and evolving needs.Monitor performance against service level agreements and drive continuous improvement of the outsourced model.Financial CrimeLead the annual financial crime risk assessment, ensuring it is comprehensive, data-driven and aligned to regulatory expectations and Lloyd’s requirements, ensuring outputs are clearly documented, reported and translated into actionable improvements within the control framework.Provide sanctions and due diligence support for underwriting activity, including review and challenge of higher-risk or complex risks.Oversee third-party and counterparty due diligence processes, ensuring appropriate risk-based assessments are performed.Manage financial crime incidents, investigations and escalation where required.Deliver financial crime training and awareness across the business.Policies, Procedures & GovernanceMaintain and update compliance and financial crime policies and procedures, ensuring alignment with regulatory expectations and business needs.Support governance processes, including preparation of compliance reporting for committees and boards.Ensure appropriate compliance and financial crime inputs into governance forums.Regulatory Engagement & ReportingSupport the CRCO in managing engagement with regulators, including Lloyd’s oversight.Assist in the preparation and coordination of regulatory submissions and attestations.Support delivery of the Lloyd’s Principles assessment process from a compliance perspective.Continuous ImprovementIdentify opportunities to enhance processes, controls and the overall compliance and financial crime operating model.Support the transition and build-out of the compliance framework as AdA evolves into a full managing agency.We are looking forA personable individual who is interested in taking ownership of our compliance framework and is keen to develop wider relationships and experience across our business: ·        An individual with rounded knowledge of compliance in a Lloyd’s environment·        A dynamic team player with a hands-on approach·        An individual who is motivated, delivers to high standards and has a desire to be part of a growing business ·        An individual with experience of driving continuous improvement and implementing changeRequired Experience, Skills & Knowledge·        Prior experience in a compliance and/or financial crime role within a Lloyd’s managing agency or London Market insurer·        Strong working knowledge of UK regulatory requirements (Lloyd’s, PRA, FCA), including financial crime obligations·        Experience of financial crime frameworks, including sanctions, due diligence and risk assessments·        Experience supporting underwriting activity, including pre-bind compliance or financial crime reviews·        Proven ability to work effectively with senior management, underwriting teams and business functions·        A pragmatic, solutions-focused mindset with the ability to balance commercial and regulatory considerations·        Strong organisational skills with attention to detail·        Excellent written and verbal communication skills·        Confident interacting with stakeholders at all levels internally and externally·        High level of integrity and commitment to ethical standardsDiversity is the unique difference that individuals have, both visible and non-visible. We seek to embrace these differences within our company culture to build strong performing teams who can take our business to the next level.  We are an equal opportunities employer.