One of the world’s largest insurance brokers seeks an experienced Product Governance Manager to undertake a 6-month contract.
Our client’s global broking and underwriting business provides a range of specialist insurance solutions to clients, and has a strong focus on growth and innovation in the insurance sector. This is certainly a prestigious organisation to work for, and this represents an opportunity to gain exposure to a fascinating range of business activities spanning both retail and wholesale broking.
As a broker involved in the ‘Manufacture’ and ‘Distribution’ of general insurance products, our client seeks an individual to play a key role in implementing its Product Governance Framework, and meeting its regulatory obligations.
In line with FCA requirements, you’ll oversee the detailed reviews of the company’s products in order to ensure that they represent fair value and avoid customer detriment, taking into account the design of the product itself and how it will be distributed to other brokers or policyholders. These rules require significant co-ordination and information-sharing both between brokers, MGAs and insurers, as well as between different teams and departments within each firm.
Reporting to the COO, you’ll work closely with the Compliance function to raise awareness of the Product Governance requirements, touchpoints and responsibilities. This will include playing a key role in ensuring that the Product Governance Framework, and specifically the regular assessment of Fair Value, is permanently embedded throughout the business. Working with the senior representatives the firm’s various legal and operating entities, you’ll facilitate the timely completion of both internal and external information requests.
You’ll possess excellent organisational and stakeholder-management abilities, and in particular the confidence to engage with and persuade individuals at all levels of a large insurance broker. It’s also essential that you have a working knowledge of the FCA’s PROD and ICOBS handbooks, together with an understanding of the Product Governance requirements within a large insurance intermediary. Given the nature of the role, a determined attitude, along with a high level of attention to detail, to ensure the completion of information requests in a timely, is also required.
Whilst you’re welcome to work from the office in the City of London, or Birmingham, as much as you like, you’ll have the opportunity to work predominantly from home, with occasional visits to the office, as required.
You’ll be rewarded with a basic salary of circa £70K (Negotiable, depending on experience), together with a range of company benefits.
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