About the role
LV= have a great opportunity for a motivated and experienced professional to join the team that responds to regulatory developments on behalf of our GI business. Located at our Croydon office, and reporting into the Underwriting and Regulatory Risk Manager, you will assist with handling enquiries from the ABI and our regulators (eg FCA and PRA). You will also support development of an underwriting risk control framework, and undertake regular reviews to ensure that it functions properly, focusing primarily on our Direct business.
LV= are absolutely passionate about our customers and committed to meeting our regulatory responsibilities. You will use your experience and skills to help ensure that we deliver great customer outcomes, have effective controls, and handle regulatory issues in a timely, positive and professional manner.
You will have underwriting, risk management or compliance experience, with an understanding of the GI market and regulatory regime, including conduct risk. You will be inquisitive and passionate about the customer – focused on ensuring that we have the governance and reporting in place to deliver excellent customer outcomes and to comply with the expectations of our regulators. Your collaborative approach will enable you to work with other functional areas to deliver high quality output to tight deadlines, while managing multiple priorities. You will be self-motivated and confident engaging with people across different areas of the business.
While your primary focus will be our Direct distribution channel, including aggregators and partners, you will be capable of supporting our Broker channel, and of operating in a digitally orientated environment. You will have good attention to detail, analytical and communication skills (including reports and presentations), and the ability to manage stakeholders. You will proactively identify risks or opportunities and have a can-do attitude. You will have a pragmatic approach and enjoy being part of a small, busy team that has a significant influence on our business.
What you will be responsible for:
- Assisting the Underwriting & Regulatory Risk Manager to fulfil requests from the regulator and the ABI, including collating input from multiple teams and working with them to resolve issues.
- Participating in the following governance activities:
- Maintaining the GI Underwriting Statement of Practice and Appetite for our product range, and supporting activities to secure annual Board approval.
- Assisting with the definition of best practice for underwriting and pricing controls for GI.
- Coordinating an annual programme of GI deep dives/audits to ensure that product governance and operational controls are fit for purpose and result in good customer outcomes and appropriate technical decisions.
- Producing the agenda and pack for the monthly Product Governance Forum.
- Maintaining a central library of underwriting policies and practices, ensuring regular review and update.
- Validating the content of the annual attestation certificate for Underwriting, ensuring that risk exposure has been accurately assessed and controls are functioning properly.
- Maintaining close working relationships with colleagues from Risk, Compliance, Operations, Pricing and Broker to ensure a joined up approach.
- Reporting to and participating in relevant operational and governance forums.
- Coordinating action to respond to product and pricing risk events and customer conduct issues to ensure they are resolved.
- Monitoring market and regulatory developments to identify threats and opportunities, briefing the Underwriting and Regulatory Risk Manager, and making recommendations as appropriate.
- Contributing to underwriting risk or regulatory projects or research .
- Coaching underwriters and other colleagues to develop their regulatory knowledge (including relating to customer conduct).
Rewards and benefits
This role is a Band C in the LV= Structure. To find out more about our bands, click to view our FAQ page here. We want you to love what you do that’s why we’ve put together a benefits package that recognises and rewards a job well done.
We’ll give you:
- 30 days' holiday, with the option to buy up to 2 additional days
- a competitive pension for which LV= will pay twice the amount you pay, up to 14% (please click here to read more about it)
- an annual bonus scheme based on company and personal performance
- Single cover private medical insurance which you can upgrade to family cover
- a flexible benefits package (e.g. discounted retail vouchers, great value dental insurance, childcare vouchers)
- a generous 25% discount off our general insurance products including home, pet and travel. Up to 50% discount on your car insurance and up to 20% discount from our life products.
To find out more about our benefits and rewards, please click here.
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