Regulatory & Government Affairs Director - 12 Month Contract at AIG

London, England, United Kingdom

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Insurance, Financial ServicesIndustries

Requirements

Extensive experience of regulatory & government affairs, including experience with PRA or FCA
Knowledge of and experience in the UK Senior Manager & Certification Regime (SMCR)
Knowledge of the PRA & FCA handbooks & ideally knowledge of Lloyd’s regulatory expectations
Understanding of general insurance business models and relevant terminology
Ability to read a P&L/balance sheet and interpret high level financial information
Prudential regulatory knowledge and experience, ideally including experience supporting regulatory engagement of Internal Models/Major Model Change applications
UK Conduct knowledge e.g. knowledge of Fair Value, Pricing Practices, Consumer Duty
Gravitas and executive presence
Ability to influence senior stakeholders
Agile ‘learn it all’ mindset
Business acumen
Negotiation and organizational agility
Presentation and problem-solving skills
Sound judgment

Responsibilities

Work with the Head of International Regulatory & Government Affairs to manage ongoing interaction between AIG in the UK and the PRA & FCA
Analyse, understand and explain UK regulatory rules, supervisory & policy statements, guidance etc., acting as an adviser to the business on regulatory rules and matters
Ensure all BAU regulatory interaction is managed to a high standard, with requests fulfilled promptly and accurately, with input from relevant stakeholders and subject matter experts
Work with colleagues to provide clarity and deliver on regulatory expectations as outlined in Periodic Summary Letters and other regulatory requirements
Prepare senior leaders for regulatory meetings, drafting accurate, well written and clear briefing notes, and highlighting key areas of focus and issues to be aware of
Support business lines/functions to ensure that AIG’s UK entities deliver high quality and co-ordinated regulatory interactions
Manage the administration of AIG UK’s entities Senior Manager Regime requirements (advice, approvals, documentation etc.)
Advise AIG’s UK businesses on UK regulatory issues (clarifying regulatory expectations, new initiatives, regulatory changes, regulatory trends etc.) which may impact AIG’s UK operations
Draft or edit regulatory update materials for Board, Executive Committees, Senior Leaders etc
Work with key stakeholders to deliver regulatory driven projects, as needed
Act as a spokesperson for AIG in the UK with the relevant regulatory supervision teams
Horizon scanning, identification & analysis of regulatory change, engaging with subject matter experts to determine applicability and action required
Support the International Head of Regulatory & Government Affairs on UK Government Affairs and International Regulatory and Government Affairs, as needed

Skills

Regulatory Compliance

Government Affairs

PRA

FCA

Senior Manager Regime

Regulatory Analysis

Policy Advisory

Stakeholder Management

Briefing Notes

Regulatory Projects

AIG

Global insurance provider for individuals and businesses

About AIG

AIG provides a variety of insurance products and services aimed at individuals, families, and businesses. Their offerings include life insurance, retirement planning, and commercial insurance, which help clients manage risk and protect their assets. AIG operates by underwriting insurance policies and managing risk, while also investing the premiums collected to generate income. This company stands out from competitors by not only focusing on traditional insurance but also emphasizing cybersecurity and data protection to keep clients' information safe. AIG's goal is to help clients achieve financial security and peace of mind through comprehensive insurance solutions.

New York City, New YorkHeadquarters

1919Year Founded

IPOCompany Stage

Cybersecurity, Financial ServicesIndustries

10,001+Employees

Benefits

Health, dental, & vision coverage

Flexible Spending Accounts (FSA)

401(k)

PTO

Commuter Expense Reimbursement Account

Risks

Sale of personal travel business may reduce AIG's market presence in travel insurance.

Expansion in Atlanta could pose financial risks if expected growth does not materialize.

Deconsolidation of Corebridge Financial might lead to loss of synergies and increased costs.

Differentiation

AIG offers a wide range of insurance products globally, serving diverse client needs.

Corebridge Financial, a subsidiary, enhances AIG's offerings in retirement planning and financial futures.

AIG emphasizes cybersecurity and data protection, ensuring clients' information remains secure.

Upsides

AI adoption in underwriting and claims processing enhances efficiency and reduces costs for AIG.

InsurTech partnerships offer AIG opportunities to enhance digital capabilities and drive innovation.

Telematics and usage-based insurance allow AIG to offer personalized and flexible products.

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