New Opportunity for a Product Governance and Commercial Executive
Prestige Underwriting Services is part of the Prestige Group which incorporates AbbeyAutoline Insurance Brokers, Prestige Underwriting Services (Ireland), Customer Claims Assist, Covernet, Octane Underwriting and Markets and Reliable Cars.
JOB TITLE: Product Governance and Commercial Executive
REPORTING TO: Commercial Relations Manager
Purpose of the job
To ensure the applications of the Company’s Product Oversight and Governance policies and procedures in the design, approval, marketing and management of Prestige products and schemes, throughout the product lifecycle, ensuring legal and regulatory requirements are met, product value is maximised and appropriate client outcomes are delivered.
- Regular and timely analysis of products and schemes to complete product oversight and governance reviews.
- Undertake regular reviews of Prestige products and schemes, conducting regular competitor analysis in order to maintain and improve the performance of Prestige products and schemes within their relevant marketplace.
- Identifies shortcomings and opportunities for innovation and improvement and supports the ongoing supervision of our suite of products across the business
- Assist with ongoing maintenance of Prestige product literature, including Policy Wordings, IPID’s, Underwriting Guides and Endorsement Suites.
- Undertaking and monitoring compliance-based projects for the Underwriting Team and conducting the change that may come from these.
- Assist with management and reporting of conduct risks from the underwriting side of the business.
- Embedding any regulatory changes into current suite of products including the underwriting and associated processes.
- Overseeing product, policy and process controls ensuring as a first line of defence risks are managed with appropriate risk mitigation in place including new product initiatives
- Support the execution of remediation with timely and effective outcomes against regulatory expectations
- Incorporate lessons learned to enhance process and guidelines
- Update on-going reports providing metrics and updates for monitoring progress and updates to senior management and or business partners
- Escalate risks to the relevant Manager, when appropriate
- Assisting the Commercial Relations Manager and Technical Manager with projects as and when required including any due diligence of products in association with capacity providers and product oversight requirements for onboarding of new relationships and the management of existing relationships.
- Support the implementation of strategic and technology solutions / processes that enhance any new strategic priority communicating with both internal and external business partners
- Create ad hoc reports, MI and presentations, as necessary, for socialisation and periodic updates
- Partner with key stakeholders and subject matter experts across the organisation (business and functions) to accomplish strategic goals
- Maintain excellent standards of professional conduct, in line with Company policy and procedure, compliance / FCA guidelines and Core Values.
- Adhere to the FCA regulations and requirements at all times.
- Comply with all company policies and procedures, including health and safety procedures.
- Be an effective, willing and enthusiastic team player.
- Maintenance of CPD.
- Undertake such internal and/or external training as deemed necessary by the Company.
- MI Production to support the Commercial Relations team.
- Any other duties that can reasonably be requested by your Manager or representatives’ acting on behalf of your Manager.
Am I suitable for this role?
The successful candidate must meet the following essential criteria
- 5 GCSE’s grade C or above, including Maths and English (or equivalent).
- Substantial household insurance/underwriting experience.
- Insurance market knowledge.
- Experience in interpreting and producing Management Information.
- Reporting writing skills both written and visual analytics.
- Excellent interpersonal and communications skills with the ability to negotiate and influence effectively at all levels using a variety of media.
- Self-motivated with the ability to act on your own initiative and make prompt decisions.
- An effective, willing and enthusiastic team player.
- Working towards, or in possession of CERT CII, DIP CII or ACII
- Experience of working in conduct/compliance role.
- Product knowledge in territories such as ROI.
- Knowledge of relevant Insurance regulations such Insurance Act 2015, Insurance Distribution Directive and ICOBS.
Remuneration and Conditions of Employment
- Competitive salary, negotiable depending on qualifications and experience
- Hours of work; 35 hours per week, Monday to Friday, 9.00am – 5.00pm
- Flexible working location
- 20 days annual leave plus 8 statutory days, with additional annual leave accruing based on length of service
- Company Pension Scheme
- Life Assurance
- Private Medical Insurance
- Employee Assistance Programme (EAP)
- Eyecare scheme
- Staff insurance discounts
- Continuous learning and development support
How Do I Apply?
If you are interested in being considered or if anyone you know is interested, please forward a tailored CV to firstname.lastname@example.org
If you would like further information please visit our website or contact a member of the HR team by email email@example.com or call 028 90 355 582
Closing date: Monday 14th June 2021
The company have the right to increase the essential criteria where a large number of candidates meet both the essential and desirable criteria.