Head of Operational Control

About The Role

RAC have a brand-new role for a Head of Operational Control reporting into the Product Director based from our Bradley Stoke office. The role is to ensure effective management of first line compliance and product governance enabling RAC to continue to carry out its regulatory responsibilities and managing customer outcomes.

You will be a key enabler towards the creation and selling of RAC products and services and be responsible for

• central documentation store detailing and tracking all actions taken.
• Alignment between roles, responsibilities, risks and controls
• All insurance products across all operating models (BGL, Europa and other outsourced providers).
• All touchpoints inc. sales, service, renewal, complaint.
• All channels inc. contact centre, online, webchat etc.
• Activities carried out both in-house by RAC, and externally by business partners.

This is a hybrid role, working 2 days a week from our Bradley Stoke office.

What you will do

• Implement new legislation and amendments to existing regulations, which may involve system or process changes. Playing a pivotal role in implementation and ongoing delivery of Consumer Duty obligations within the business.
• Manage compliance and regulatory actions coming out of audits, second line monitoring, committees and product reviews.
• Facilitating communications between second line compliance and business unit.
• Documentation of the first line insurance governance framework, ensuring all products, propositions and pricing decisions meet FCA regulatory requirements & deliver good outcomes for customers
• Own and manage the documentation processes to ensure that all decisions made on pricing and product are tracked, monitored and recorded.
• Maintain effective oversight, controls and MI for the senior team to evaluate whether products and propositions are meeting regulatory expectations and delivering good outcomes for customers.
• Maintain effective oversight of complaints, ensuring complaint management processes are robust and appropriate MI is used to identify and remedy any recurring or systemic issues.
• Maintain effective oversight of all customer documentation (both product and marketing documents). Manage the documentation approval process, ensuring all documents are approved prior to distribution to customers, and reviewed on an ongoing basis.
• Maintain strong awareness of key competitor product and proposition developments, market trends and upcoming regulatory priorities that may impact RAC’s Insurance propositions.

Qualifications

The successful candidate will come from an insurance or Financial Service background and have in depth knowledge of general insurance regulatory principles and practices, including, but not limited to, Fair Value, Pricing Practices and Consumer Duty.

We are looking for someone to help shape the division and have the confidence to challenge where needed whilst maintaining credibility by having a strong understanding of personal lines insurance products, operating models and trading dynamics.

In return, we offer

At the RAC, our colleagues do whatever it takes to help our customers. And we believe in rewarding you in return. As well as a competitive salary, there is also an annual bonus scheme in place. Plus, you’ll have all these extra benefits:

• FREE RAC Breakdown cover from day one
• Car salary sacrifice scheme – including offers on electric vehicles
• Hybrid working
• Group Life Assurance of up to 4 x salary