Senior Compliance Specialist, UK

About us

Coalition is the world's first Active Insurance provider designed to help prevent digital risk before it strikes. Founded in 2017, Coalition combines comprehensive insurance coverage and innovative cybersecurity tools to help businesses manage and mitigate potential cyberattacks.   

Opportunities to make an impact with bold thinking are real—and happening daily at Coalition.

About the role

Responsibilities

• Review, analyse, and evaluate regulatory developments, newly enacted laws, and other significant industry events, to determine the impact on the business, and communicate the necessary changes to ensure correct implementation is achieved. 


• Assess risks and identify potential areas of compliance vulnerability throughout the enterprise.


• Maintain our Risk Register, providing an appropriate challenge to risks, their assessments, and controls, ensuring timely actions are taken to manage all risks within appetite. 


• Oversee regulatory breaches, complaints, data protection, financial crime, compliance training, and all other relevant regulatory and legislative requirements.


• Review marketing materials for accuracy and compliance with regulatory requirements. 


• Prepare comprehensive reports for the Board and Executive team regarding Risk and Compliance issues.


• Respond to business inquiries by providing sound risk based compliance advice.


• Drive our direct authorisation application with the FCA, including using the FCA Connect System, RMAR reporting, and CASS requirements.


• Serve as a Certified Function under SM&CR, accountable for compliance-related activities, including adherence to Individual Conduct Rules


• Ensure company policies and procedures are effective, monitored, and proportionate, and adhere to applicable laws and regulations.  e.g. IDD, GDPR & CPD


• Provides oversight of corrective action plans developed through business unit self-audits and Compliance audits. Tests and validates corrective actions to confirm mitigation plans have been properly implemented.


• Prepares accurate and timely responses to insurance consumer complaints received directly from consumers or regulators.


• Participates in preparing materials and information required in response to internal and external carrier or regulatory audits and assists in preparing communication of responses.


• Manages workload, prioritizes, and elevates issues where appropriate with little direction.


• Participates in International expansion efforts supporting Compliance and Regulatory obligations.

Skills and Qualifications

• 5+ years of experience in an insurtech or insurance industry; commercial experience preferred (cyber insurance experience a plus)


• High work standards, with the ability to multitask, meet deadlines, and effectively navigate a remote working environment


• Demonstrated ability to perform legal research of statutory/regulatory requirements


• Extensive knowledge of regulatory compliance in the UK insurance sector (e.g Consumer Duty, ICOBS, PROD, DISP, SM&CR), including Data Protection laws. European insurance experience (preferred). 


• Experience in 2LOD monitoring, working through the audit process, and directly with regulators.


• Excellent oral and written communication skills, with a track record of presenting to internal stakeholders


• Strong insurance-related compliance experience in risk assessment, testing, and monitoring, including knowledge of business processes and technologies 


• Previous experience acting in a Certified Function under SM&CR preferred


• Bachelor’s Degree or equivalent work experience preferred


• Relevant risk & compliance qualifications (e.g ICA) preferred

Perks

• 100% medical coverage, including outpatient care


• Life insurance 


• 25+ paid holidays


• Annual home office stipend


• 7% employer pension contribution


• Mental and physical health wellness programs like Headspace, Wellhub


• Competitive compensation and opportunity for advancement