Company
Great Lakes Insurance SE
Location
London, United Kingdom
About Great Lakes Insurance SE:
As a specialty provider of primary insurance services in the UK, Great Lakes London Branch ("GLLB") is a significant part of Great Lakes Insurance SE in Munich. Our business model focuses on opportunities related to reinsurance and innovation, as part of the Munich Re Group. Great Lakes Insurance SE operates from Munich and has branch offices in the UK, Ireland, Switzerland, Italy, and Australia.
Great Lakes Insurance UK Limited ("GLLS"), regulated by the PRA and FCA, is a fully owned subsidiary of GLIC and acts as the main facilitator of agency insurance business in the UK post-Brexit.
Job Purpose:
We are seeking an experienced Financial Crime Analyst to join our compliance team on a fixed-term contract to enhance service quality within the GLL UK Compliance department. The role involves focusing on financial crime topics such as sanctions screening and advisory, supporting our efforts to detect and prevent financial crime, and monitoring compliance with policies and the CMS framework.
The successful candidate will support financial crime prevention by conducting risk assessments, analyzing control frameworks, and advising on sanctions-related issues, contributing to a compliance culture. The role reports to the UK Head of Compliance.
Key Responsibilities:
- Conduct financial crime risk assessments to identify vulnerabilities.
- Evaluate and improve control frameworks.
- Perform sanctions screening in compliance with regulations.
- Provide advice on financial crime queries, including sanctions issues.
- Assess sanctions risks across insurance/reinsurance classes, ensuring compliance.
- Stay updated on financial crime trends and regulations.
- Conduct fraud risk assessments to meet legislative standards.
- Assist in developing and delivering financial crime training.
- Support onboarding of new business, assessing outsourcing exposures.
- Implement proportionate risk-based financial crime norms.
- Support compliance with legislation and regulations.
General Duties:
- Develop and enhance financial crime processes.
- Escalate compliance issues with impact analysis.
- Contribute to quarterly compliance reports.
We value results, business insight, collaboration, client focus, innovation, courage, and persuasion, fostering a proactive and inclusive culture.
Key Skills and Experience:
- Proven experience in financial crime roles, preferably in insurance or financial services.
- Strong understanding of relevant regulations.
- Experience in risk assessments and control analysis.
- Familiarity with sanctions screening and advisory support.
- Excellent analytical and communication skills.
- Ability to work independently and collaboratively.
- Experience with complex insurance sanctions queries and outsourcing arrangements.
- Strong stakeholder management skills.
Qualifications:
- Degree or equivalent experience.
- Professional qualification in Financial Crime prevention or progress towards it.
Thought Leadership:
You will be recognized as an expert and role model, promoting inclusive behavior and sharing knowledge. We offer competitive compensation, bonuses, generous leave, private medical insurance, and a pension scheme, along with paid family leave.
About Us:
We foster a culture of innovation, care, and authenticity, supporting growth and digital transformation. We value diversity and inclusion, believing they drive resilience and success.
If interested but your experience does not match all requirements, we encourage you to apply. Reasonable adjustments are available upon request.