A BIT ABOUT FLOCK
At Flock we do insurance very differently.
Our real-time, data-driven approach means we're able to price connected vehicle insurance and assess risk better than ever before, whilst giving fleet owners the insights they need to improve safety. We don't just pay claims; we help our customers prevent them. We now insure hundreds of fleets in the UK, including the likes of JLR and Amazon, as well as fleets that work for DPD, Uber and Bolt.
Last year we completed our Series B funding of $38m, led by Octopus Ventures. Our goal is to become the leading insurance company for connected and autonomous vehicles, and we're building a world-class team to help us get there.
THE ROLE
Build on the groundwork already laid to further develop the compliance and risk management function in Flock to ensure we stay ahead of the expectations from our carrier partners, investors and regulators as we continue to scale the business.
WHAT WE THINK IS MOST EXCITING ABOUT THE ROLE
• Participation in Flock's Share Option Scheme
• 25 days of holiday (+ Bank Holidays)
• Workplace Pension
• Private Medical Insurance (including Optical , Dental & Mental Health )
• Various Salary Sacrifice Schemes - Workplace Nursery, Holiday Purchase, Tech, Gym, Cycle to Work, Electric Vehicle, Private Medical Insurance for families
• Enhanced Parental Leave and Pay
• £1000 toward relevant professional qualifications
• £500 per annum towards learning and development
• 3 days paid leave for L&D purposes
At Flock, we typically follow a hybrid working model involving a minimum of 2 days per week spent in the office, which is based in Central London, a few minutes walk from Moorgate and Liverpool Street.
ONE LAST THING..
Authenticity is important to us. We value the unique qualities and experiences you bring. So if you apply, just be your genuine self. It's who we want!
At Flock we do insurance very differently.
Our real-time, data-driven approach means we're able to price connected vehicle insurance and assess risk better than ever before, whilst giving fleet owners the insights they need to improve safety. We don't just pay claims; we help our customers prevent them. We now insure hundreds of fleets in the UK, including the likes of JLR and Amazon, as well as fleets that work for DPD, Uber and Bolt.
Last year we completed our Series B funding of $38m, led by Octopus Ventures. Our goal is to become the leading insurance company for connected and autonomous vehicles, and we're building a world-class team to help us get there.
THE ROLE
Build on the groundwork already laid to further develop the compliance and risk management function in Flock to ensure we stay ahead of the expectations from our carrier partners, investors and regulators as we continue to scale the business.
WHAT WE THINK IS MOST EXCITING ABOUT THE ROLE
- This is an opportunity to shape the way compliance and risk management is done in a fast growing MGA. We are looking for a "builder"; somebody who is never satisfied with the status quo and enjoys looking for and then executing on opportunities to improve.
- COMPLIANCE:
- Own and evolve our compliance management framework and ensure it effectively embeds across all levels of the organisation including from a cultural perspective
- Ensure our business practices continue to be compliant with regulatory requirements and meets the Compliance expectations of our other stakeholders, including our carrier partners
- Work with all business functions to identify, document and agree on action plans to manage any gaps vs. requirements; this includes conducting regular thematic reviews of our current business practices
- Support the Chair (= Flock's COO) of the Product Oversight and Governance Committee (POGC) with the effective running of the committee and timely handling of any action points arising; report key findings and action points to Flock's senior leadership team and the Board
- As part of the POGC ensure appropriate compliance testing of new and existing products in accordance with the FCA rules in respect of Product Design - and make recommendations and oversee enhancements where necessary
- Evolve our Compliance MI framework in conjunction with stakeholders in each of Flock's departments
- Manage and co-ordinate contributions from other departments (including Finance) into all Regulatory submissions, e.g. RMAR
- Maintain the company's policy framework, ensure all relevant policies are in place and are reviewed regularly. Own some of these policies as an individual contributor
- Monitor the complaints process, providing complaint handling guidance to business leaders and complaint handlers, including independent quality assessment of complaint files, root cause analysis (RCA) and appropriate follow-up (in conjunction with the Head of Insurance Operations)
- Oversee and monitor policy and regulatory breach logging. Undertake QA and appropriate root cause analysis, then engage with the business to ensure delivery of improvements where appropriate
- Present Compliance updates to Flock's Senior Leadership Team and Flock Ltd.'s Board on a regular basis; hold senior leaders to account for delivery of their Compliance responsibilities
- Horizon scan and understand the impact of any upcoming changes in regulation on the business, then advise and coordinate the implementation of any required changes
- Ensure appropriate maintenance of the FCA registers (including SM&CR) in relation to all business functions
- RISK MANAGEMENT:
- Own and evolve our company risk management framework and ensure it effectively embeds across all levels of the organisation including from a cultural perspective
- Co-ordinate regular reviews of departmental risk registers and provide independent review and challenge of these across all business functions
- Consolidate departmental risk registers into an overall Flock risk register highlighting key areas of risk and associated mitigation
- Support the first line in clear and consistent articulation of risk appetite and assessment of actual risk levels, pre and post mitigation, against appetite; provide independent challenge of these assessments
- Design & prepare effective risk reporting including KPIs to the senior leadership team and the Board
- Own the Company's annual purchase / renewal of insurance policies
- LEGAL (optional)
- For the right individual there is furthermore an opportunity to play an active role in various pieces of legal work including carrier TOBA preparation & review, sub-broker TOBA preparation and review; commercial contract review and other ad hoc pieces of legal work
- ESSENTIAL
- A strong understanding of the regulatory environment as it applies to a Commercial insurance MGA
- A structured approach that ensures effective management and prioritisation across a broad and varied agenda that continues to evolve as the company expands
- A strong understanding of best in class risk management practices
- A proven track record implementing change including strong interpersonal skills / the ability to bring stakeholders across the company with you as we evolve
- The right level of gravitas to present to and interact with a senior audience both inside and outside of the company including the company's Board of Directors
- Proactivity and drive - a track record of making things happen out of your own volition
- PREFERABLE
- Understanding of fleet insurance
- Experience leading a company's risk and / or compliance function
- An entrepreneurial, innovative spirit - a track record of finding novel ways to approach and solve problems
- A legal background
• Participation in Flock's Share Option Scheme
• 25 days of holiday (+ Bank Holidays)
• Workplace Pension
• Private Medical Insurance (including Optical , Dental & Mental Health )
• Various Salary Sacrifice Schemes - Workplace Nursery, Holiday Purchase, Tech, Gym, Cycle to Work, Electric Vehicle, Private Medical Insurance for families
• Enhanced Parental Leave and Pay
• £1000 toward relevant professional qualifications
• £500 per annum towards learning and development
• 3 days paid leave for L&D purposes
At Flock, we typically follow a hybrid working model involving a minimum of 2 days per week spent in the office, which is based in Central London, a few minutes walk from Moorgate and Liverpool Street.
ONE LAST THING..
Authenticity is important to us. We value the unique qualities and experiences you bring. So if you apply, just be your genuine self. It's who we want!