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Director of Regulatory Affairs

Employer
M&G plc.
Location
London, United Kingdom
Salary
Competitive
Closing date
Jan 10, 2024

View more

Job Function
Compliance/Regulatory
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
At M&G our purpose is to help people manage and grow their savings and investments, responsibly. As a business, we are continuing to take steps towards a sustainable future, delivering better long-term solutions for our customers and clients and identifying new opportunities to make a positive impact for our environment and communities . To help us achieve our vision we're looking for exceptional people who live our values of care and integrity and who can inspire others; embrace change; deliver results and keep it simple.

We will consider flexible working arrangements for any of our roles and also offer work place accommodations to ensure you have what you need to effectively deliver in your role.

Role Context
M&G plc and its subsidiaries operate in a highly regulated environment. It is critical that we manage our engagement with all of the group's regulators to the highest standard, this role is central to M&G plc achieving this outcome. As the leader of the Regulatory Affairs function, this role has accountability for both the Regulatory Engagement and Regulatory Development teams. Pivotal to this role are:
  • Developing and implementing a forward looking, strategic and risk focused approach to Regulatory Affairs
  • Working with M&G's businesses to provide appropriate oversight and leadership of regulatory relationships in all jurisdictions that M&G operates
  • Ensure material and systemic regulatory themes are identified, managed and escalated effectively
  • Supporting the Director of Financial Crime and Central Functions to develop and deliver an appropriate lobbying strategy to ensure M&G proactively influences developing regulatory thinking
  • Act as a trusted adviser to senior stakeholders across the group

Principal Accountabilities
Develop and implement a forward looking, strategic and risk focused approach to Regulatory Affairs, including:
  • set and deliver a holistic regulatory strategy for M&G plc (and its subsidiaries) that is designed to mitigate regulatory risks across the group and drives the widening and deepening of M&G's relationship with the regulators
  • through the collation and critical analysis of all data gained through M&G's direct engagement with the group's regulators as well through the horizon scanning activities; provide genuine insight to senior management, the Boards and businesses and ensure that this assessment is used to develop the regulatory strategy
  • ensure that there is a common understanding of the regulators' concerns and that key stakeholders understand our desired outcome and the approach to delivering this
  • take a lead role in managing effectively all key engagements by influencing and co-ordinating M&G's engagement with the Prudential Regulation Authority (PRA), the Financial Conduct Authority (the FCA) and the Pensions Regulator (referred to as "the UK regulators"), to support the delivery of the regulatory strategy
  • optimise meetings to make sure that M&G clearly demonstrates that regulatory expectations are being met as well as to successfully influence regulatory thinking
  • review and coordinate each stage of the regulatory engagement lifecycle, demonstrating how this is being considered within / is aligned to the regulatory strategy
  • regularly update senior internal stakeholders against progress, providing clear evidence which demonstrates the actions delivered are mitigating the regulatory risks identified

Take personal accountability for preparing the business and leading the work required for delivering material group-wide regulatory reviews and inspections (for example s166 reviews)

Provide high quality input, guidance and insight as well as demonstrate sound judgment; to ensure both M&G's and the regulators' expectations are met (engaging with SMEs as necessary):
  • take the lead on developing high quality and timely responses to requests from the regulators
  • ensure all material documents submitted to the regulators are reviewed and demonstrate M&G's key messages, as well as to identify any potential areas of focus (and ensure these are considered within the regulatory strategy)
  • support the resolution of significant regulatory issues
  • ensure Regulatory Affairs is engaged early on any material initiatives across the business to provide the necessary input and guidance

Take responsibility to lead the work on behalf of M&G for influencing the regulators' thinking on the regulatory landscape and emerging regulation

Oversee the preparation of the function's Board level reporting, leading and enhancing the quality of reporting as appropriate to ensure that the Board and management receive the necessary regulatory insight

Act as a trusted adviser to the Director of Financial Crime and Central Compliance as well as other senior stakeholders as appropriate
  • ensure M&G's senior leadership team and Board are informed of key issues and that emerging themes are identified and reported, setting out a clear plan of action in response
  • deputises for the Director of Financial Crime and Central Functions in senior governance forums and other regular or ad-hoc meetings with senior management

Key Knowledge, Skills & Experience
  • Detailed knowledge of financial services gained by working within a Regulatory Affairs, Legal or Risk and Compliance function
  • Extensive regulatory experience (ideally gained through work at the regulators and within the industry), including a deep appreciation and understanding of the regulatory environment and the regulators' supervisory approach to insurers and asset managers
  • Detailed knowledge of the regulators' rules and the structure of their handbooks as well as a strong understanding of the regulatory environment in the countries the firm has significant business operations
  • Excellent influencing and negotiating skills, ability to use influence and persuasion to resolve differences to a satisfactory resolution
  • Excellent analytical skills - ability to review and challenge materials produced by colleagues, identify trends and hot spots from complex data and clearly articulate insights and propose a proportionate response
  • Excellent presentation skills, including the ability to articulate and convey concepts and ideas to Board members and senior management in a clear and compelling manner
  • Adept at nurturing and promoting effective working relationships with internal and external stakeholders - highly collaborative with an outward approach
  • Deep relationship and stakeholder management skills - ability to generate a positive outcome with stakeholders, to effectively manage different stakeholder groups, drive consensus where appropriate, bring people together and diplomatically influence key stakeholder groups using skill and tact, must be able to relate to various audiences well
  • Must be delivery and outcome focused, possessing high levels of resilience and determination, as well as a dynamic individual who demonstrates strong initiative
  • Business acumen - demonstrate good commercial intuitive judgement, reflecting internal and external perspectives
  • Inspirational leadership - manages own impact effectively to lead and inspire others, demonstrates critical thinking and strong decision-making capability, as well as the ability to empower the Regulatory Affairs team, with a track record of building high performing teams
  • Ability to define, lead and execute the Regulatory Affairs strategy and agenda, consistently across the business, making sure that M&G delivers against this strategy
  • Able to demonstrate the right attitude and behaviours, which align with M&G's values and purpose
  • Significant experience operating in a senior role, demonstrating strategic awareness and capability - can evidence the ability to take a holistic view of a business, see the links with key issues and the implications of these, setting and delivering a strategic and outcome focus
  • Experience of working in a large and complex global organisation, defining and implementing the regulatory engagement strategy across multiple jurisdictions.
  • Significant experience in managing the relationship with all the UK regulators and understanding their expectations and priorities
  • Experience of attendance at and/or reporting to governance forums such as boards and senior level committees

Experience Level: Integration Leader
Recruiter: Helen Simons

We have a diverse workforce and an inclusive culture at M&G plc, underpinned by our policies and our employee-led networks who provide networking opportunities, advice and support for the diverse communities our colleagues represent. Regardless of gender, ethnicity, age, sexual orientation, nationality or disability we are looking to attract, promote and retain exceptional people. We also welcome those who take part in military service and those returning from career breaks.

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