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Compliance services

Supporting specialty firms navigate mass market regulation. 
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Our Compliance Services

Compliance and regulation is constantly changing. It is challenging to keep up while running a successful and profitable business. 

There is increasing oversight from multiple stakeholders who all have different priorities. Otter Audit pride ourselves on high quality and practical advice that is tailored to meet your business needs. 

Our Compliance Partner has experience in a range of insurers and has developed their on the ground experience whilst performing delegated authority audits. This enables Otter Audit to provide simple and attainable solutions for your niche products. Breaking down complex rules and matching to your internal risk framework to make sure you are materially compliant.
We provide attainable solutions that align with your internal risk framework. 
We support a variety of clients with their compliance
We support independent and niche coverholders, MGAs and insurance intermediaries navigate the changing regulatory and compliance landscape so that they can spend more time focusing on finding the right insurance for their customer.
the view across the Thames of Otter's compliance offices in London.
The world keeps changing and regulation keeps evolving. 

We support firms develop and maintain their compliance framework, freeing up resource to focus on realising value for their brokers and clients. 

Our experience in the Lloyd’s and London global specialty market has meant that we have seen a broad range of bizarre and wonderful insurance products that mass market regulation was not designed for.
We are able to translate the stickiest regulation into a compliance environment where niche products can thrive.
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Compliance Consulting Services with Otter Audit

We’re here to work with what you need. We have three compliance consulting services that suit our clients:

Compliance Officer off the shelf

We all know what a compliance officer is right? Well, this is that. You need a compliance officer and we can provide one. Either on a temporary basis to plug absences or on a part time basis to support the in-house team.
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This could include:
1) Advisory queries and escalation.
2) Horizon scanning.
3) Financial crime reporting or conduct risk officer.
4) Preparing the compliance plan.
5) Submitting regulatory returns.
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Consumer Duty Champion coaching

The FCA requires a Consumer Duty board champion, preferably a non-executive director. This role should not be outsourced so we won’t take this role on for you. What we can do is provide coaching, be a critical friend and allow your Consumer Duty champion to ask questions in confidence. 

The role of the Consumer Duty board champion is a new one from 2023. It’s understandable that those with this responsibility may need support in growing into this new and developing role.
This could include:
1) Developing and challenging product MI reports. 
2) Identifying trends and rectifying them. 
3) When to ring the foreseeable harm alarm.
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Audit Shield

The Audit Shield program takes the experience of thousands of coverholder audits and puts it in your corner. 

The program looks at the cradle to the grave delegated underwriting, claims or complaint process and examines the suitability of the control environment. A road map is prepared which, on completion, will form a protective layer around your delegated authority. This Audit Shield will enable you to easily pass your insurer audits.
Audit Shield can be a one off project for you to implement or can be operated as an ongoing process with regular performance of:
1) Quality assurance.
2) Conduct MI analysis.
3) Other regulatory periodicals.
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Our Compliance Team

Kate Hamill, Compliance Partner, leads the team. She will be the initial point of contact. Kate has worked in the insurance industry since 2011, working for the majority of that time in compliance. She has expertise in conduct risk, product governance, Consumer Duty and sanctions.
Kate Hamill, Audit and Compliance Partner at Otter Audit.

Kate Hamill

Compliance partner
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What to expect with our compliance service

Our compliance process is flexible dependant on the services required. 
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Fact finding call

We’ll start with a fact finding call with our Compliance Partner over Teams or in person. From here we can understand the nature of your business and start to build a plan that works for you.
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Meet your compliance executive

We will introduce you to your Compliance Executive, who will be your main contact throughout the project.
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Develop your compliance plan

We will continue to shape and develop the plan so it continues to provide that support so that you can focus on doing what it is that you are in business to do.
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Monthly meetings

This can include a monthly meeting with your Compliance Executive to discuss the compliance plan and any upcoming challenges, more complex project work, upcoming insurer audits and ad-hoc queries.
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Got questions?

Who at Otter Audit will I talk to?

Initially, Kate Hamill our Compliance Partner, who will talk through how we might be able to support your business. Kate will allocate you the appropriate resource going forward.

What happens when my Compliance Executive is away and I have an urgent query?

Don’t worry! There will be cover in place to make sure you are able to get an answer as soon as possible.
>> Enquire about audit>> Talk to us about compliance>> Meet the Team
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Otter Audit & Consultancy Services Ltd

[email protected]
64 Southwark Bridge Road,
London SE1 0AS
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