Consumer Duty Oversight Manager
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Company Description
Legal & General supports the savings, protection and retirement needs of around 14 million people, through our portfolio of retail and workplace businesses.
Our Retail division helps people enjoy a more colourful retirement, both directly and through their employers, including Lifetime Mortgages, Retirement Interest Only Mortgages and financial advice on our range of lending products.
We are the UK's number one individual life insurer, and also provide Group Protection products for employers - all helping people to plan for the unexpected. We support home buying through our Mortgage Club - the UK's largest - and our award-winning Surveying Services team. And our fintech team finds and supports socially useful start-ups and scale-ups working in the workplace, home, insurance and wealth areas.
Joining us means helping create brighter financial futures for all our customers.
Job Description
We're recruiting for a Consumer Duty Oversight Managerto join us. You will take the lead on Consumer Duty oversight across Product and Member Communications teams, managing and developing effective processes, controls and reporting mechanisms to ensure that Workplace products and member communications deliver good customer outcomes
What you'll be doing:
- Maintaining and developing the Product Process to ensure products, propositions and investment funds are launched, governed, and closed in accordance with the Customer Conduct Risk Policy and are designed and developed to meet the needs, and objectives of customers in an identified target market to comply with the Consumer Duty
- Regulating and analysing MI data against Consumer Duty outcomes, identifying, summarising, and escalating customer risks and issues that may impact on future product / communication developments
- Ensuring that product / proposition communications are proven to meet customer information needs, with customers being kept appropriately informed before, during and after the point of sale
- Supporting in the efficient completion of Product Risk Reviews, ensuring that they have been carried out in accordance with specified schedules,and reported to appropriate governance committees
- Undertaking oversight activities (as outlined in the Distribution Oversight Document) to ensure that Workplace products, investments and member communications are being distributed as intended in line with regulatory rules and guidance
- Preparing regular reports for Group Consumer Duty Forum and feeding into the Group Annual Report on behalf of Workplace, with information gathered via Customer Outcome Monitoring Forum
- Ensuring that identified Consumer Duty risks are captured on OSX, that risk mitigation is appropriate, and any remedial activity is undertaken in a timely manner with due consideration to the needs of the customer
- Collating member insight and findings via the ownership of a content matrix, rolling this out on a regular update basis across the Communications team and ensuring changes are implemented
Qualifications
Who we're looking for:
- Professional qualifications from bodies such as Chartered Insurance Institute or CFA UK, in relation to the role are desirable
- Strong understanding of Consumer Duty regulation and the impact on financial services
- Good working knowledge of Workplace market dynamics
- Good understanding of the Regulatory environment relevant to products, investments, and customer communications
- Experience of workplace savings within a provider and/or EBC
- Ability to meet conflicting priorities to challenging timelines
- Strong interpersonal and verbal communication skills
- Demonstrable presentation skills
Whatever your role, we reward performance and behaviour with a package that looks after all the things that are important to you. Here are some of the benefits we offer:
- The opportunity to participate in our annual, performance-related bonus plan and valuable share schemes
- Generous pension contribution
- Life assurance
- Private medical insurance (permanent employees only)
- At least 25 days holiday, plus public holidays, 26 days after 2 years' service. There's also the option to buy and sell holiday
- Competitive family leave
- Participate in our electric car scheme, which offers employees the option to hire a brand-new electric car through tax efficient salary sacrifice
- There are the many discounts we offer - both for our own products and at a range of high street stores and online
- In 2023, some of our workspaces were redesigned. Our offices are great spaces to connect and collaborate and have your wellbeing at the heart
Additional Information
Legal & General is a leading financial services group and major global investor, named Britain's Most Admired Company in 2023, for the second year running. Rated top in our sector and top for inspirational leadership, we have a strong heritage and an exciting future.
We aim to build a better society for the long term by investing our customers' money in things that make life better for everyone.
If you join us, you'll be part of a welcoming culture, with opportunities to collaborate with people of diverse backgrounds, views and experiences. Guided by leaders with integrity who care about your future and wellbeing. Empowered through initiatives which support people to develop their careers and excel.
We strive to be open, mindful and inclusive, so are always willing to discussing flexible working arrangements and reasonable accommodations for candidates with specific needs.
If you're open to find out more, we'd love to hear from you.
Videos To Watch
https://youtu.be/8ZYGBwImH08
https://www.youtube.com/watch?v=ZBOaxOH1C2c
https://youtu.be/YwHNjdPbbkk