Job Title: Product Governance Assistant
Hours: 9 am to 5 pm
Product Governance Assistant
Markerstudy Broking distributes and co-manufactures a variety of personal and commercial insurance products that are the backbone for household names and respected brands. As part of our evolution, we are looking for a logical-minded, data-driven, excel savvy, individual that will complement our existing expertise and manage a range of governance activities across all product classes.
This is a junior governance role and ideally suited to someone looking for career progression from a previous insurance role such as complaints, risk management, product management, customer service or compliance.
Primarily focusing on adherence to all regulatory requirements, including Consumer Duty and supporting the MSG Broking product governance process. Managing both new and existing distributions through the product life cycle and performing product reviews to ensure that our products continue to provide customers with fair value. Adhering to and reviewing processes that ensure customers are considered through every stage of the product lifecycle.
Major Responsibilities / Duties:
- Working with internal teams to identify new areas for growth, ensuring the best outcomes are achieved for our customers.
- Work with the operational heads to develop new product distribution strategies and prepare the required documentary evidence for submission to the Product Governance forum.
- Work with key stakeholders to ensure the correct processes are followed to ensure good customer outcomes.
- Perform, write up and present Product Reviews in line with the agreed timetable.
- Adhere to processes and practices that demonstrate understanding and adherence to excellent product governance and industry regulations.
- Provide input into the Product Governance forum, and participate in Pricing, Customer & Conduct Risk, Vulnerable Customer, Root Cause Analysis forums, and any additional consumer duty forums as required.
- Complete external requests for information about our product distribution activity
- Maintain records to demonstrate activity that is taking place in the above areas.
- Track product actions to completion
- Support the business with responses to product related complaints.
- Any other tasks as required, relating to proposition development, product governance and ensuring good customer outcomes are achieved.
- Implementation of new product distributions within agreed timescales
- Delivery of product reviews in line with timetable
- Management of identified conduct risk issues through to conclusion, ensuring any customer detriment is addressed and root cause analysis is undertaken to prevent a recurrence.
- Continued review and development of the Product Governance framework and associated processes.
Skills / Knowledge / Experience Required
- Collaborative approach with the ability to influence at all levels of the organisation.
- Product management knowledge
- 3 or more years insurance industry experience
- understanding of personal lines and commercial insurance distribution
- Project/product management / business analysis experience - desirable