Assistant Compliance Business Partner

Principal Accountabilities: Manager or manager of people or individual contributor: Individual contributor Geographic scope of role: Mumbai

Principal Duties/Responsibilities

Assists with Willis Compliance policies and procedures

• Assist the CBP to identify and assess the compliance risks applicable to the business.
• Understand from CBP on how to provide support and guidance to the business in understanding its responsibilities and obligations under relevant WTW policies E. g. Financial Crime(Anti-Bribery & Corruption, Anti Money Laundering, Sanctions, Third Party Payments) Conflicts of interest, , Gifts, Entertainment & Hospitality, Complaints Handling etc. ); draft responses to queries on the interpretation of relevant compliance policies.
• Attend meetings where CBP would discuss promptly with the business unit Manager any compliance or regulatory issues arising in the business unit; report the issue in the appropriate log/ database; and agree the corrective action to be taken including responsibility, timelines and review date.
• Understand the compliance plan which reflects the risk profile of that business unit; undertake own sampling and check the checkers reviews, where appropriate; monitor and report progress to CBP against the plan.
• Ensure that all complaints are dealt with appropriately by the business.
• Ensure that all incidents are reported by the business within 24 hours of identification. Should be the SPOC for the compliance activities for the business.
• Perform Thematic reviews for business unit and report findings to CBP
• Compare and analyse completed Claims Quality Management, Business Quality Management, Self- Assessment File Reviews, other MI / quality metrics produced by the business, Compliance Monitoring reports and internal/external audit reports and discuss findings with CBP as a means of determining potential enterprise-wide systemic risks, weaknesses in internal controls and training. This would then be shared with BU managers.
• Engage completely in business unit meetings (Business Reviews) along with CBP and share ideas on improvement and any best practice sharing with CBP that would help minimize the risk.
• Arrange monthly meetings with business unit management and partner with CBP to discuss the business performance on compliance and regulations aspect.
• Should have a complete awareness of tasks (activity) being transitioned to Mumbai. Assist the CBP in assessing the risk and controls in the process, viability for performance of the activity in Mumbai.
• Engagement with Operational Excellence to review any improvements recommended / worked upon by them do not miss any key controls in the process.
• Represent the respective business along with CBP, for Compliance activities to reflect the business progress / performance on operational compliance activities. Engage in the root cause analysis of errors identified, controls / processes that need to be introduced in the process to reduce the errors / complaints etc.
• Perform annual check to ensure businesses have signed off Code of Conduct and completed mandatory online modules and report findings to CBP
• Conduct Control Assessment checks for business, gather observations and provide recommendations

/ actions to CBP to be shared with senior management. Assist with regulatory issues

• Identify all laws/regulations that are applicable to their business unit (this would include adhering to all regulatory policies like AML, AB&C, Sanctions etc. ) Highlight any derogatory information to CBP

Assist with Compliance training

• Check that all applicable WTW compliance policies and local regulations are covered in compliance training. (includes the current three awareness sessions)
• In consultation with business management and CBP, identify compliance training needs within the business units and develop training plan for the year and delivering specific training materials for business units

Report outcomes

• Provide regular updates on relevant compliance metrics and commentary to CBP prior to submission for reporting to management or Senior Management. Updates to cover:
• Actions taken to manage the compliance risks
• Serious or persistent compliance issues
• Results of monitoring activity, including self-assessment file reviews
• Results of internal or external audits and other compliance inspections
• Regulatory developments and issues
• Other relevant matters.
  • Discuss all legal and regulatory issues with CBP and report in the appropriate database/log.
  • Attend business unit executive meetings along with CBP, which would have discussion on transitions, process improvements, way forward etc.

Manage performance

• Create own quarterly action plans to deliver the annual goals and objectives agreed with the CBP or line manager and report on own progress.

Manage internal relationships

• Maintain positive relationships with business unit heads and colleagues to assist the interface between compliance and the business.
• Foster close relationships with other business support areas, including Group Legal, Group Risk and Internal Audit.

Co-ordinate with Internal Audit and External Audit on those activities that cover compliance obligations only (during a review and in an ongoing way).

Communications and Relationships
Internal:

• With their CBP (Compliance Business Partner, London), RCO (Regional Compliance Officers for International, Western Europe and North America) Manager and other members of Group Compliance, (Group Legal & Group Risk if required) and Group Internal Audit.
• With business unit leadership and Senior Management

External:

• With external auditors and regulators as required

Skills (Essential)

• Team player with good interpersonal and influencing skills.
• Ability to work under pressure to tight timelines and without direct supervision.
• Possesses a keen eye for details.
• Excellent analytical problem-solving skills.
• Strong communication skills, both orally and in writing.
• Commercial awareness - a commercial and pragmatic approach to managing compliance.
• IT literate - knowledge of Microsoft office packages needed.

Skills (Beneficial):

• Prior compliance experience preferred (understand the compliances within their existing processes)
• Good regulatory and corporate governance knowledge/understanding required.

Regulatory awareness FCA for UK and for other local requirements

Top 5 Competencies

1. Managing stakeholder
2. Adjusting to change
3. Structuring task Presentation Skill
4. Investigating Issues and Evaluating problem
5. Influencing skills

Required Qualifications, Skills, Knowledge, Experience

Qualifications:

• Graduate. Additionally, relevant professional qualifications in - compliance, insurance, accountancy or business will be an add-on

Behaviours:

• Team player with good interpersonal skills
• Ability to work well under pressure to tight timelines when needed
• Organised and methodical and able to prioritise workload effectively
• Desire to learn and develop both industry and technical knowledge