Closing Date: 14th December 2022
Salary: £50,000 - £65,000 + excellent benefits including 16% - 32% bonus, private medical insurance, excellent pension scheme + much more!
We have an incredible opportunity to join us here at Phoenix Group as a Regulatory Manager to join our Regulatory Relationship Team in Group Risk.
Who are we?
We want to be the best place that any of our colleagues have ever worked.
We are the UK’s largest long-term savings and retirement business with c.13 million customers and c.£310 billion of assets under administration. As a market leader and FTSE 100 organisation, we understand that our scale and expertise mean that we have a key role to play for our customers, colleagues and our communities to help as many people as possible secure a life of possibilities. We are tackling key environmental and social issues such as transitioning our portfolio to net zero by 2050 – but we’re not done yet.
We’ve seen huge growth and change, and this means there is enormous opportunity for our 8,000 colleagues to grow alongside us.
You can expect to work in a hybrid manner with time spent working in the office and at home. We believe that work/life balance offers benefits for customers as well as ensuring that you can balance a successful career with your life outside of work. We will discuss flexibility, what is important to you and balancing this with business requirements during the recruitment process. There will be a requirement to attend meetings in central London so if London is not your home office location there will be some travel required.
We want to hire the whole version of you.
We are committed to ensuring that everyone feels accepted and safe at work and are proud to be an equal opportunity employer. Everyone is valued at Phoenix regardless of age, gender identity, neurodiversity, race, disability, sexual orientation, religion, ethnicity, socioeconomic background or anything else. Whether it’s joining one of our internal employee networks, being an ally, taking positive action or simply being there to listen, everyone at Phoenix is valued and respected.
If you need any help or adjustments to the recruitment process due to health, disability or anything else, please let us know so we can help you to be the best version of yourself.
The Regulatory Relationships Team are responsible for managing the relationship with the Group’s UK regulators. This role is in the team that focusses on Phoenix’s relationship with its prudential regulator, the Prudential Regulation Authority and covers all of the Phoenix Group and its regulated entities (Phoenix Life, Standard Life, ReAssure, SunLife).
We are responsible for making sure we maintain a positive and constructive relationship with our regulators, including making sure the expectations of the regulators are met. We also provide high quality advice on how best to engage with the regulator to the rest of the Group.
The purpose of the Regulatory Manager role is to:
- Manage and support the development of more junior members of the team, including line management oversight, allocating work and giving feedback
- Ensure a ‘no surprises’ culture, for example ensuring the regulators are aware of issues, or potential issues, at the earliest opportunity; aware of changes to the Group Strategy before they happen; and agreeing when the right moment to share information on the direction of travel for Phoenix and coordinating the sharing of this
- Ensure all individuals who have meetings with regulators are suitably prepared by reviewing or creating high quality briefing packs made up of information supplied, often at short notice, from across the Group
- Attend key regulatory meetings to record the conversation, key messages and actions
- Develop a strong understanding of the PRA relationship so that you can help the business to meet the regulators’ expectations
- Develop effective and productive working relationships with senior individuals in the team and across the Business to ensure timelines agreed with the regulator are appropriate and achievable; and understand when it is appropriate to escalate issues/concerns to the Senior Leadership Team
- Work closely with Line 1 and Line 2 colleagues to make sure interactions and material sent to the regulator are of the highest possible quality.
- Represent the team on key internal projects and strategic initiatives
What are we looking for?
The list below gives an idea of the sort of person we are looking for. The main three requirements for this role are:
- Experience working in the insurance sector with a focus on financial risk
- Strong understanding of the UK prudential regulatory regime, including the Senior Managers and Certification Regime, Solvency II and IFRS 17.
- Experience of working with a strategic focus in a fast-paced environment, the ability to absorb and process large volumes of information and present this in a way that meets the needs of the wide variety of stakeholders we support – from the regulators to the Management and Boards within the Group we support. An attention to detail is vital.
Why choose us?
Bring your ‘whole self’, skills and dedication to the Phoenix Group and we’ll recognise your effort, support your development and help to drive your ambition. We’ll ensure you’re rewarded for your contribution with a competitive package that includes an attractive pension, annual bonus potential, private medical insurance, generous holiday entitlement, enhanced maternity and adoption leave and a range of other financial services and lifestyle flexible benefits.
Sound good? If you are ready to help us make Phoenix the best place you’ve ever worked, we’d love to hear from you.
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