Overview
We are seeking a skilled Product Governance & Distribution Consultant specialized in insurance to support a major regulatory transformation program within a large global financial services organization. This role emphasizes hands-on delivery, focusing on critical areas including FCA Consumer Duty compliance, product governance, and distribution oversight. The consultant will collaborate with various stakeholders and develop necessary frameworks and documentation to ensure customer outcomes align with regulatory expectations.
Responsibilities
- Take ownership of distribution oversight, including risk assessments and audit frameworks.
- Document customer journeys and identify potential areas of customer harm related to Consumer Duty.
- Develop risk assessments and testing frameworks for customer communications and policy documentation.
- Enhance fair value assessment frameworks to ensure ongoing product compliance with Consumer Duty.
- Design product change processes, including governance routes and escalation pathways.
- Translate FCA regulatory requirements into practical operational processes and controls.
- Produce clear, robust documentation suitable for regulatory scrutiny and audits.
- Support the implementation of new governance processes.
Requirements
- Proven experience in insurance product governance and/or distribution within a regulatory context.
- Strong understanding of FCA Consumer Duty and its implications.
- Familiarity with product oversight and governance frameworks (POG).
- Experience in fair value assessments and conducting distributor audits.
- Knowledge of customer journey monitoring and conduct risk in insurance.
- Ability to develop procedures and documentation that meet regulatory standards.
- Experience in personal lines insurance (e.g., home or motor) is preferred.
- Capacity to engage effectively with senior stakeholders and work independently.