Regulatory Affairs Analyst

Pension Insurance Corporation (“PIC”) provides secure retirement incomes through comprehensive risk management and excellence in asset and liability management, as well as exceptional customer service. Our purpose is to pay the pensions of our current and future policyholders. We achieve our purpose by setting company wide strategic objectives and driving a healthy culture based on our PIC Values of Resilient, Adaptable, and Loyal.

• The role is in the Regulatory Affairs team, which sits in the Risk and Compliance function.
• The role of the team is to facilitate strong regulatory risk management and ensure a good understanding of regulatory risks, issues and projects across PIC.
• The team assist the business in ensuring that regulatory risks and issues are considered as part of relevant activity and decision making. As a result, the team works collaboratively with the business to maintain controlled risk taking which delivers long term value.
• The Regulatory Affairs team are the owners of PIC’s regulatory strategy including being responsible for managing the relationships with the relevant UK regulators (PRA and FCA). This includes, but not limited to, management of and challenging regulatory queries and communications, as well as providing regulatory insights and advice.
• The team work across a variety of activities, including but not limited to first line and risk colleagues, to secure buy-in and implement improvements to systems, processes, and technology, as appropriate. This also includes:
  • To apply knowledge and insights concerning the Regulators and how this impacts PIC and policyholders.
  • Proactively horizon scan to identify and analysis emerging trends, regulations and policies to help anticipate future requirements and support the mitigation of risks.
  • To deliver strong business outcomes relating to capital, profitability, the Company brand and market reputation whilst achieving positive outcomes on a consistent basis.

• To work with the team to continue to develop the regulatory engagement across the business to ensure PIC maintains an approach which is fit for purpose and efficient and effective.
• Conduct thorough analysis of regulatory change and support the team in advising the business of an appropriate course of actions.
• Support the team in the timing and nature of responses to regulatory activity, including queries, thematic requests, as well as relevant consultations and policy.
• Able to gather, interpret and use complex data to develop actionable steps that will improve processes and optimise the team activity.
• Manage, with the support of the team, all regulatory reporting, producing regularly and ad‑hoc reporting and develop perspective/value‑add commentary where needed.
• Taking the lead on developing and optimising the regulatory reporting, utilising new tools and technology.
• Ensuring reporting and data has the appropriate controls and governance in place, in line with PIC’s frameworks and policies, for example appropriate ownership, agreement and record keeping.
• Support the strong regulatory risk culture across the PIC, and to ensure individuals and teams are aware of their obligations, including but not limited to Compliance, risk teams and the first line teams.
• Suggest areas of improvement and make recommendations for what the team can do to a deal with any issues identified.
• To work with the team to provide papers to relevant PIC Committee meetings, ensuring they are kept informed of regulatory issues, projects, forward looking activities.
• Support the delivery of briefings to ensure that Executive and Non‑Executive Directors are fully briefed on material matters being discussed with the Regulators alongside key emerging themes.
• To ensure accurate records of regulatory discussions and activity are maintained.
• To monitor regulatory communications and to work with the rest of risk and compliance and the business, to ensure we develop our processes to maintain ongoing compliance with changing regulations rules and expectations.

• Knowledge of UK financial services…