The Fidelis Partnership is a leading privately-owned, Bermuda-based Managing General Underwriter, which, through its subsidiaries, is a global underwriter of property, bespoke and specialty insurance and reinsurance products. The Fidelis Partnership is one of the largest Managing General Underwriters globally and its operations also include outwards reinsurance, claims handling, exposure management and portfolio analytics. The Fidelis Partnership also sponsors and incubates specialist MGAs through its Pine Walk platform. The Fidelis Partnership is separately owned and managed from the ownership and management of Fidelis Insurance Group.
Across product lines and geographies, we focus on three diversified pillars: reinsurance, specialty and bespoke solutions. We are truly diversified. Our long-standing partnerships with capital providers and quota share partners make us nimble. Our breadth of expertise and capabilities deliver outstanding market returns.
The role
An opportunity has risen for a new Compliance Manager to join the team at an exciting time, following The Fidelis Partnership (TFP) establishing as a Lloyd’s of London coverholder, with the TFP Syndicate 3123 being managed for us by Asta.
The successful candidate will have practical experience of Lloyd’s and a knowledge of licencing, the principles and Lloyd’s reporting, and be able to support and advise the business. The successful candidate will have autonomy to engage, and make decisions, with key stakeholders, such as the active underwriter, Gallagher as the broker, Asta and others.
This will be an engaging and challenging role as establishing as Lloyd’s coverholders is new for the business, so there will be a learning curve that this candidate will need to support the business with.
This role will also support our broader compliance team and business, where we distribute insurance through existing third-party capacity providers.
Key accountabilities
Provide the business with regulatory advice across a range of subject areas, including licencing;
Working with the business to implement practical processes to deliver adherence to the relevant Lloyd’s principles;
Operating those processes as they relate to a second line function e.g. making sure business is only written where licenced to do so;
Liaising with the syndicate manager, broker and internal key stakeholders;
Designing and implementing the necessary M.I. to monitor to ensure compliance and creating reports to the managing agent and relevant internal governance bodies;
Conducting regulatory horizon scanning, including specifically to Lloyd’s, and providing summaries for discussion with the business;
Producing and maintaining business timetables, ensuring that regulatory reporting deadlines are met tin accordance with the appropriate timeframes;
Answering KYC questions from third parties;
Answering ad-hoc information requests from Lloyd’s, through the managing agent;
Answering questions from within TFP and from the third parties with whom it deals;
Advising and supporting the compliance monitoring team where appropriate, including where the monitoring scope includes the Coverholders.
Skills & experience
Degree in Law, Finance, Business, or related field.
Detailed understanding of the regulatory requirements, specifically relating to Lloyd’s, in the UK insurance industry.
Detailed understanding of the FCA rulebooks.
Excellent analytical and problem-solving skills.
Effective communication and interpersonal skills.
Ability to work both independently and collaboratively in a fast-paced environment.
Attention to detail and a commitment to upholding ethical standards.
Other
The Fidelis Partnership Ethos
At The Fidelis Partnership, we aim to be different while making a difference.
We set the standard for quality in our industry. Guided by our expertise, our clients can take unique and material risks with confidence.
Our approach is tailored and designed to deliver excellence for our clients. We are trailblazers, creating unique solutions in the (re)insurance space.
We are experts. Our brokers and clients value the depth of our knowledge and experience. We leverage state-of-the-art underwriting technology to be a market leader.
We believe sound ethics make for good business. We deliver value for our customers, investors and communities while actively avoid trading with industries that cause harm to people, the environment and animals.
We pride ourselves in creating a workplace that prizes execution, meritocracy, Diversity & Inclusion. Our people herald from countless backgrounds and are united by ambition and the unabashed desire to deliver excellence every day. We provide a competitive environment that helps people cultivate themselves professionally and personally and balance a rigorous workplace with a mindset that prioritises environmental and charitable activities in our communities worldwide.
Our ethos dictates our decisions and actions. It unites us as a team of experts and colleagues and provides us with a compass for ensuring we deliver our best to every stakeholder we serve.
Diversity, Equity & Inclusion
Diversity & Inclusion in the workplace
Insofar as possible, we aim to ensure the composition of our workforce reflects the make-up of the local community
We have specific programmes in all our offices to support diversity within the hiring process, e.g. internship and scholarship award programmes
This is a particular focus in Bermuda, where we engage actively with local organisations to source diverse talent and provide coaching/mentoring for underrepresented groups
We aim to maintain a focus on equal opportunities across all stages of hiring process
We measure and minimise the pay gap where possible.
Bring Your Whole Self to Work
Our vision is for a workplace culture where differences are valued and where diversity of background, experience and thought are welcomed. We want to create an environment where all employees, regardless of who they are, are given equal opportunities for career progression and enjoy fair reward from their and The Fidelis Partnership's successes. This will be driven by a workforce that embraces Diversity & Inclusion at every level, in every department across The Fidelis Partnership.
To ensure that all candidates have a fair opportunity to show their abilities during the recruitment process, adjustments may be required. If your physical or mental health or disability may necessitate an adjustment, please contact fidelis@avenciaconsulting.com to discuss. All information relating to your health or disability will be treated in accordance with our data protection policy.
