Insurance Risk Consulting - Regulatory Compliance - Senior Consultant

Forvis Mazars is a leading global professional services network providing audit & assurance, tax, and advisory services. Forvis Mazars in the UK spans 14 offices across the nation and has over 3,400 professionals, with 190 partners. We have a clear purpose and a shared commitment to shape a better future.

You'll join a collaborative and inclusive team where you're supported to grow your skills, explore new opportunities, and contribute from day one. You'll work with a diverse client base, develop meaningful connections, and gain experience that extends beyond your local team. Together, we grow, belong and impact.

About the team

Our Regulatory Compliance team in our Insurance Risk Consulting (IRC) practice has an exciting opportunity for a talented and high performing individual to join our team in London.

IRC provides a diverse range of services to our clients, including actuarial and internal audit services and those related to Regulatory Compliance. Clients are predominantly from the insurance market but can also include entities in the retail banking, debt and payment sectors.

This role is within the Regulator Compliance team which provides advice and guidance to clients on all aspects of financial services regulation to help them stay compliant and evidence their compliance with the vast web of regulations applicable to the sector.

The team focuses on conduct regulation and guidance as issued by the Financial Conduct Authority (FCA) and regulatory reporting overseen by the Prudential Regulation Authority (PRA). The FCA's primary purpose is to protect consumers, protect the integrity of the financial system and to promote competition, in the interests of consumers. It expects regulated entities to put the consumer at the heart of their business. The PRA’s primary objectives are to promote the safety and soundness of regulated entities; and more specific to insurance firms, to ensure policyholders are appropriately protected.

Our services are closely aligned with the objectives of the FCA and PRA, supporting clients in meeting regulatory expectations across both conduct and prudential areas. This includes helping clients enhance compliance frameworks, strengthen governance arrangements, uphold the consumer duty, ensuring operational resilience, and supporting firms in meeting expectations around fitness and propriety of senior personnel. From a PRA perspective, we support firms in meeting prudential reporting requirements and maintaining effective frameworks, including the preparation of Solvency UK reporting and disclosures, as well as providing assistance with recovery, resolution and exit planning. The work is diverse, engaging and purposeful.

Examples of current projects include operational resilience reviews, Consumer Duty audits, complaints and remediation programmes, prudential regulatory reporting, Solvent Exit Analysis (SEA) reviews, fair value assessments, vulnerable customer reviews, and product governance and quality assurance reviews. The team also develops and delivers tailored training to support client capability and regulatory understanding.

About the role

The individual is expected to participate in the growth of our services to regulated financial services clients by working with a wide variety of clients and delivering client engagements. Whilst client projects will be the priority, the role would also contribute to business development e.g. by organising ‘key account’ activities, producing articles and presenting to clients.

Typical engagements include:

• Providing compliance advice on a particular area of concern

• Performing regulatory Compliance gap analyses, independent review or ‘health checks’ (including thematic or risk-based compliance reviews), and Internal audit subject matter expertise

• Delivering FCA s166 Skilled Person Reviews

• Assisting in regulatory applications / responses / communication

• Supporting the completion of prudential regulatory reporting

• Designing and delivering of training

• Supporting a client’s regulatory change project support

• Compliance secondments

• Developing and maintaining regulatory frameworks, policies and procedures

The role itself will involve:

• Delivering the above assignments

• Dealing directly with client queries and communications

• Writing compliance reports for various audiences and levels of our clients’ business

• Working with members of the Insurance Risk Consulting and wider Financial Services Team (and our clients)

• Keeping track of regulatory and industry developments

• Assisting the engagement/project manager to make sure that work is delivered within the agreed timeline and budget

• Designing and drafting bespoke scopes or planning documents for client projects

You may also be required to:

• Help to develop our service offerings, and marketing to external and internal clients, for example by writing articles or contributing to presentations

• Work with Managers to prepare client proposals

• Assist in the development of training, engagement tools and methodologies

• Identify risks and issues that could impact delivery of client projects and escalate these for support as required

• Mentor, coach and develop more junior staff

What we are looking for

• 2-3 years’ experience working within:

• a professional services firm with a regulatory / compliance focus;

• the FCA, PRA or FOS; or,

• a compliance team of a regulated firm.

• Knowledge of key areas of FCA and PRA regulation. These may include SYSC, COBS, CONC, ICOBS, DISP, PERG and SUP and PRA prudential frameworks including Solvency UK.

• Ability to create high quality presentations or written reports to effectively communicate project findings

• Experience in communicating with external clients or stakeholders

• Ability to conduct legal or regulatory research, investigation, and analysis to inform relevant recommendations to clients

• Experience in preparing, facilitating, documenting, and participating in client meetings and workshops

Professional Qualifications:

• Bachelor’s Degree or evidenced interest in law, business or finance

• Relevant professional qualifications would be beneficial e.g. Chartered Insurance Institute or International Compliance Association Certificate/Diploma

Personal qualifications:

You should have or be able to:

• Manage time effectively with project management and strong organisational skills

• Collaborate effectively across teams and service lines, with flexibility to take on work beyond immediate areas of expertise

• Lead small/routine client meetings with support and oversight

• Clearly articulate requirements and explain evidence relied upon if challenged

• Be pragmatic, proportionate and measured in dealings with clients

• Demonstrate attention to detail and an ability to critically review your own work

• Actively seek expertise and knowledge of regulatory issues impacting on the financial services industry

• Demonstrate excellent verbal and written communication skills

• Analyse and understand issues and develop practical solutions.

Diversity, Equity & Inclusion

At Forvis Mazars diversity, equity and inclusion are central to our values. We value our people's unique backgrounds, perspectives, and experience, and know this diversity create better outcomes for our clients. We seek to attract, develop, and retain the best talent, inclusive of sex, ethnicity, disability, socio-economic background, sexual orientation, gender identity, nationality, and faith. We select candidates based on skills, knowledge, qualifications, and experience and aim to support all our team members to reach their potential. At Forvis Mazars, we promote an environment in which you can grow your skills, belong to a team that values your ideas, and make an impact that matters.