Compliance Graduate Trainee

As a leading provider of insurance and reinsurance with worldwide operations and employees in Bermuda, U.S., U.K., Continental Europe and Asia, we recognize that our success is derived directly from those who matter the most: our people. At Sompo International, our values of integrity, collaboration, agility, execution and excellence underpin our culture and our commitment to providing an employee experience that attracts and engages the best talent in the industry. As we continue to grow, we strive to find diverse, innovative and driven professionals to join our teams and offer a broad range of career and development opportunities at all levels, in multiple business areas, in each of our locations throughout the world. Our compensation and benefits programs are market driven and competitive, with excellent family friendly policies and flexible working provisions.

Job Description

UK Compliance Graduate Trainee Programme

The Sompo Graduate Trainee Programme is a 24-month training programme designed to give participants the business and technical skills they need to build a successful career in Insurance Compliance. Trainees work in a highly experienced Compliance function to gain in-depth knowledge of our holistic approach towards regulatory compliance and participate with global teams. Through on-the-job learning, workplace mentoring and directed self-study, Sompo’s Graduate Programme is a foundation for career advancement at Sompo and can lead to an exciting and accelerated career pathway in insurance.

What can I expect as a Graduate Trainee?

1. On-The-Job Learning

Compliance requires a high degree of expertise, multi-tasking, attention to detail and relationship building – something you can’t learn in the classroom. Sompo Compliance trainee will be immersed in the day-to-day compliance and regulatory activities. They are given a rare opportunity to work alongside experts in the field to identify, assess and mitigate regulatory risks, and expand their overall knowledge.

Sompo Compliance trainee will get involved in meaningful and challenging work assignments that encompass - research on laws, regulations and policy developments across the UK and Europe; monitor legislative changes affecting Sompo and provide recommendations to the relevant teams and senior management; oversee and monitor day-to-day compliance with regulatory requirements; manage and respond to standard business requests, and escalate complex issues; draft and update compliance policies and procedures; and collaborate with cross-functional teams to foster a culture of regulatory compliance awareness.

1. Directed Self-Study

Professional designation courses give Insurance professionals technical knowledge of insurance operations and industry practices. Sompo supports employees pursuing continuing educations opportunities by covering the cost for fees and textbooks, offering time off work to take exams, and providing additional compensation for successful completion of many courses. As part of the Graduate Trainee programme, participants will be required to successfully complete their CII Certificate and Diploma qualification (additional details below).

➢ Certificate CII - completion of 3 exams (LM1, LM2, LM3)

➢ Diploma CII - completion of 4 exams (delegate can choose most applicable)

1. Career Development Support

At Sompo, we are committed to developing our people. We encourage employees to strengthen their skills and expand their understanding of the business. Sompo Graduate Trainees receive professional development training on topics such as communication/negotiation, self-awareness and sales and marketing to help them build successful careers.

1. Mentoring

As part of the development of each Graduate Trainee, a mentor will be assigned at the beginning of the scheme. This mentor will be from a different department to the Graduate Trainee and they will be tasked with providing ad hoc guidance and support during regular 1:1’s throughout the programme. The Mentor will also assist the line managers during the annual performance review cycle and review of progression during Level 1,2 and 3 of the programme.

1. Rotation Scheme

Participants placed within Compliance will gain experience working with varied Compliance Subject Matter Experts during the programme, and will take part in two twelve month placements and gain experience of the various Compliance disciplines listed below. Satisfactory completion of each placement will allow the participant to progress throughout the programme.

1. Financial Crime (e.g. Sanctions, Anti Money Laundering, Anti Bribery & Corruption and Fraud)
2. Compliance (e.g. Conduct Risk, Prudential Risk, Senior Managers & Certification Regime (SMCR), Regulatory Reporting and Licensing)

Qualifications, Skills and Experience:

Sompo professionals are some of the best and brightest in the industry. When recruiting the next generation of Sompo professionals, we consider all University degree disciplines, especially those experience or interest in insurance, financial services regulation and law. What is key for us is work ethic, intellectual curiosity, integrity and agility.

Additional requirements include:

• Excellent organisational skills with attention to detail
• A strong priority and delivery focus.
• Proficiency in data analysis.
• Clear and effective communication skills, both written and verbal.
• The ability to take initiative and solve problems as they arise.
• Innovative thinking, energy, and drive.
• A strong ethical foundation and the ability to handle confidential information appropriately.
• Proficiency in Microsoft applications - Excel, Word, PowerPoint and Outlook.