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Country
United Kingdom
Working Schedule
Full-Time
Work Arrangement
Hybrid
Travel Required
10%
Relocation Assistance Available
No
Posted Date
09-Jul-2024
Job ID
3389

Description and Requirements

Risk and Compliance Officer

Job Location: Brighton (2 days in the Brighton office, 3 from home)

 

 

We believe in the power of collective expertise and diverse perspectives. It takes a village to forge lasting changes the way we do, and our village is made up of dynamic individuals driven by purpose and kindness. If you are looking for a workplace where collaboration knows no bounds, every voice is valued, and innovation is fuelled, MetLife is for you. As part of our team, you’ll be building on a 150+ year history, helping to map out the next century, protecting people’s finances and their loved ones. Come join the hands that shape tomorrow’s future and build a more prosperous world for all because it’s #AllTogetherPossible!

 

Benefits

We are proud to reward our colleagues with benefits that make a different to them and their community. Along with a excellent base salary and annual discretionary bonus (plus commission, if you are a sales professional) you will also get the following: 

 

  • Pension plan - The MetLife Group UK Personal Pension Plan is a defined contribution (DC) pension plan and includes a core contribution provided to all employees of 9%, together with the option to receive further company-matched contributions up to an additional 4%. So, if you contribute 4%, MetLife will contribute 13%. 
  • Life assurance – employee (4x salary)
  • Annual leave - 25 days and you can buy* or sell holiday (trade up or sell up to five days’ holiday)
  • Income protection - 60% of salary
  • Private medical insurance 

 

Role Value Proposition:  

 

To undertake the key responsibilities of the Risk and Compliance Officer role in an effective and customer-centric way enabling the UK Risk & Compliance team to achieve its vision and goals.

 

Compliance – to provide advice, guidance, support and challenge to the business on all compliance/regulatory matters.  To assess regulatory publications (FCA and PRA), identify their impact on MetLife UK and work with the business to implement effective solutions. To undertake monitoring and testing activity, to include complex business processes.  

 

Risk - to facilitate the identification, measurement, management and monitoring of operational risks within the business. To help embed a risk management culture in the business and manage the day to day risk management processes and procedures. 

 

The impact of the role will be to assist in monitoring MetLife UK’s compliance with regulations and providing advice and guidance to the business on regulatory and operational risk matters thus enabling it to avoid negative impacts, such as:

  1. Brand damage and impact on MetLife’s business aim to be a trusted financial services provider
  2. Regulatory breaches – including potentially significant fines that would hit “bottom line” 
  3. Potential for significant disruption to business in the event of Regulatory investigation due to compliance failures.
  4. Operational losses outside of risk appetite

 

Key Responsibilities:

  1. Review regulatory developments (PRA and FCA), prepare helpful guidance to the business and Senior Management and work with them to implement any change required.  
  2. Meet with stakeholders to discuss compliance/risk topics and engage with them as a credible business partner. To include regulatory matters that impact MetLife in the UK such as FCA regulation, PRA regulation, Anti-Money Laundering and Data Protection.
  3. Provide robust challenge to the business, from a risk perspective to ensure operational risks are identified and managed.  
  4. Facilitate the identification of Risks that have the potential to impact the strategic objectives of the Branch, to include conducting risk workshops.
  5. Review risk mitigation action plans for Critical/High/Medium residual risks and provide feedback.
  6. Review and link loss events/breaches against risks documented in the Risk Control Self-Assessment (RCSA) and question control environments in place to prevent reoccurrence.
  7. Provide concise, well written and accurate reports to various levels of management on compliance and risk activities within agreed deadlines.
  8. Undertake monitoring/testing against regulatory and company requirements. To include planning, fieldwork, issuing of the report, liaison with staff including senior management and following up to ensure that actions are completed.
  9. Review and approval of promotional literature and client communications.
  10. Review and update Compliance Manual ensuring it meets regulatory and business requirements in a user-friendly format. 
  11. Complete regulatory reporting to the FCA.
  12. Provide input and oversight to complaints received, to include final outcome letters and corresponding with the Financial Ombudsman Service.
  13. Assist with regulatory correspondence/requests for information.
  14. Conduct training for associates on compliance and risk management topics.
  15. Complete all record keeping requirements in a timely manner.


Essential Business Experience and Skills  

(MetLife will consider all applicants, including those that are not a 100% match to the required, please apply) 

 

The role holder is expected to possess relevant work experience, gained from financial services risk/compliance roles with an insurance company.

 

  • Good working knowledge of the UK regulatory regime, including but not limited to FCA, PRA and data protection and money laundering.
  • Relevant previous experience and working knowledge relating to our sector.
  • Confidently provide meaningful support and challenge to the business.     
  • Good commercial awareness.
  • Excellent communication skills (written & verbal), to include writing/collating reports for senior management.
  • Excellent attention to detail.
  • Ability to build relationships with staff at all levels in the business, including senior management, showing empathy and be able to influence and gain commitment.
  • Ability to review and implement necessary policies, processes and procedures.
  • Ability to manage own workload, including working to tight deadlines and delivering on concurrent tasks.
  • Proven ability to research and provide effective solutions to issues.  
  • Self-motivated, pre-emptive, flexible and pragmatic.
  • Competent speaking in public to conduct training sessions.

 

MetLife will assist in the funding of Professional Fees for employees where it is relevant and aligned to your position within the organisation.  MetLife reserve the right to make a judgement on whether the subscription is relevant or not to your role as well as cease the payment at any time. This type of subscription will not incur “benefit in kind” tax. 

 

At MetLife, we’re leading the global transformation of an industry we’ve long defined. Founded in 1868, MetLife, through its subsidiaries and affiliates, is one of the world’s leading financial services companies, providing insurance, annuities, employee benefits and asset management to help its individual and institutional customers navigate their changing world. We have operations in more than 40 countries and hold leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. 

We are one of the largest global institutional investors with $568 billion of total assets under management as of September 30, 2023, ranked #54 on the Fortune 500 list, and honoured to have been named to Fortune magazine's list of the "World's Most Admired Companies" for four consecutive years. 

MetLife employees are united by purpose, guided by empathy and inspired by one another’s unique backgrounds and perspective to make a difference in the lives of our customers, communities, and the world at large.


At MetLife, a diverse workforce and culture of inclusion are integral to how we do business and how we serve our customers. We are committed to providing reasonable accommodations to qualified individuals with disabilities. If you believe you need a reasonable accommodation in order to search for a job opening or to complete an employment application, please send an email to accommodations@metlife.com. Please note, resumes and other inquiries unrelated to the need for a reasonable accommodation submitted here will not be acknowledged.

Benefits We Offer

Our benefits are designed to care for your holistic well-being with programs for physical and mental health, financial wellness, and support for families. We offer health care coverage for you and your family, insurance discounts for home, car, and pet protection, as well as parental leave. We also provide premium gym membership for you and your direct relatives, volunteer time off, discounts with specific universities, flexible Fridays, connectivity reimbursement, and much more!
About MetLife

Recognized on Fortune magazine's list of the 2023 "World's Most Admired Companies", MetLife, through its subsidiaries and affiliates, is one of the world’s leading financial services companies; providing insurance, annuities, employee benefits and asset management to individual and institutional customers. With operations in more than 40 markets, we hold leading positions in the United States, Latin America, Asia, Europe, and the Middle East.

Our purpose is simple - to help our colleagues, customers, communities, and the world at large create a more confident future. United by purpose and guided by empathy, we’re inspired to transform the next century in financial services. At MetLife, it’s #AllTogetherPossible. Join us!