Risk & Regulation - Senior Associate - Part time 4 days per week, Flexible Contracts

London (Central)
08 Jun 2021
08 Jul 2021
Contract Type

This role is open specifically for people who are looking to work flexibly.
We know everyone’s lives are different and that traditional working patterns may not be quite right for you. Whether you’ve taken a career break, had time out to support family or are looking to balance your career with another passion of yours, we can offer you a flexible contract. 

  • 4 days a week

Upon joining the firm you will have access to various training to give you the opportunity to upskill yourself on our various systems. You’ll also benefit from a programme specifically designed to support flexible workers integrate into the firm and introduce you to other people across our networks.

Who we are looking for

The world of Risk and Regulation has been going through a period of fundamental change – it continues to evolve in a fast moving political and commercial environment as do the businesses it affects.  We are working across the financial services sector with our clients dealing with the impacts and adaptations required -  join us on the journey and be part of creating a new and relevant financial services industry.

PwC’s Insurance, Asset and Wealth Management Risk and Regulatory team has significant growth plans and is looking to expand its leading regulatory business. The team is looking for ambitious and dedicated candidates at Senior Associate level who have gained experience in the insurance and / or asset and wealth management sectors. We typically apply this knowledge in the context of regulatory reviews, business restructuring, new business set up and transactional work.

Our team offers the opportunity to work across all three of our focus sectors so that you can widen and deepen your knowledge and experience.

Background to the Insurance, Asset and Wealth Management Regulatory Environment

The regulatory environment for the financial services industry in the UK is continuously changing. Recently firms have had to adapt their business models to changes arising from Brexit, the challenges of Covid-19 (both operationally and financially), the current low yield environment and applying and embedding the Senior Manager and Certification Regime (SM&CR). In an ever changing environment, firms in our focus sectors are having to continue to navigate the complex regulatory regimes, laid out in Solvency II, IDD, CRD IV and implemented into UK regulation. This includes the way firms structure their capital, manage their risk and capital requirements, how they sell and interact with customers and how they manage their supervisory relationships both in the UK and internationally.

Yet, the regulatory environment continues to evolve. Following its implementation in 2016, Solvency II is now going through its first major review on the Continent, whilst the UK Government has also instigated a review of Solvency II, recognising that the UK is no longer bound by a single maximum harmonising European Directive. The EBA’s proposals for a new Investment Services Prudential Regime will affect asset managers and wealth managers / advisers from the end of 2021. Beyond Solvency II and IFPR, actual and expected regulatory developments continue, including in the areas of operational resilience, climate change and recovery and resolution planning. Firms are keen to understand these upcoming regulatory changes and will require support in implementing them.

Capital providers continue to seek opportunities within the insurance, asset management and wealth management / advice sectors, leading to investment and M&A activity, as such there is a high demand for regulatory diligence and capital structuring services, as well as for support with regulator engagement and approval processes as businesses startup or undergo major change. Client’s value the knowledge, insight and regulatory relationships that we hold.

Working within our Team

As the leading provider of professional services to the insurance, asset and wealth management sectors, PwC works with all of the leading insurers, asset and wealth managers in the UK. If successful, you will work on a range of exciting projects across many areas of the regulatory spectrum gaining a diverse understanding of the risks faced by insurers and provide advice on innovative solutions. As a team we work collaboratively on projects, often with colleagues from other specialisms. We also aim to empower individuals to seek areas of focus, supporting development in those areas through on the job learning and mentoring. You will also have access to PwC’s market leading development framework in order to get full support through your personal development.


The responsibilities will vary depending upon the client and engagement profile. Amongst others, you will be:

  • Building meaningful relationships with clients and internally across the PwC network through client engagements and networking;
  • Supporting more senior team members in the delivery of projects;
  • Preparing regulatory analysis and contributing to client reports;
  • Being a knowledgeable advisor to clients relating to areas of regulation;
  • Identifying and documenting key controls for demonstrating compliance with applicable regulations and contributing to the assessment of these;
  • Assisting in technical research, analysing current and emerging regulation and supporting an assessment of their impact on a client or the sector generally; and
  • Aid the team in communication of regulatory findings, verbally and written, to clients in a pragmatic and helpful manner.

Essential skills:

  • Knowledge and experience of one or more of the insurance, asset or wealth management sectors;
  • Understanding of regulation applicable to the insurance, asset or wealth management sectors (prudential and/or conduct) gained through working at a regulated firm or regulator, or within a professional services firm or similar;
  • Ability to manage and deliver against deadlines while working on multiple projects;
  • Strong written and verbal communication skills;
  • Client handling and relationship management skills; and
  • Experience of problem solving and being able to develop solutions tailored to clients’ needs.

Desirable Skills: 

The range of skills our clients are looking for is broad. Whilst we welcome applications from all those who fit with the responsibilities and essential skills set out above, we particularly would welcome applicants with skills in one or several of the following areas:

  • Accounting or actuarial experience / qualifications;
  • Relevant industry qualifications e.g. CII for insurance;
  • Regulatory reporting experience e.g. in producing or reviewing aspects of Solvency II reporting;
  • ICAAP, CRD IV, COREP reporting as well as elements of the broader FCA regime and requirements;
  • Experience in undertaking or reviewing regulatory processes e.g. approvals and notifications;
  • Project assurance and/or project management expertise;
  • An ability to understand, interpret and communicate complex regulation;
  • Knowledge / experience of the Lloyd’s market and associated requirements;
  • Experience working in a risk or compliance function, within an insurer, broker, asset or wealth manager; and
  • Experience in designing, reviewing or delivering risk management processes.

Risk Assurance

We’re a leading provider of trust in the digital world - in the eyes of our people, our clients and our stakeholders. Today's business environment is different. More complex. More connected. Companies not only face new and unknown risks, but also new and untapped opportunities. Our team is at the forefront of this change, join us to be a part of transforming how risk is perceived and capitalised on.

The skills we look for in future employees

All our people need to demonstrate the skills and behaviours that support us in delivering our business strategy. This is important to the work we do for our business, and our clients. These skills and behaviours make up our global leadership framework, ‘The PwC Professional’ and are made up of five core attributes; whole leadership, technical capabilities, business acumen, global acumen and relationships.


Valuing Difference. Driving Inclusion.

We work in a changing world which offers great opportunities for people with diverse backgrounds and experiences. We seek to attract and employ the best people from the widest talent pool because creating value through diversity is what makes us strong as a business, enabling us to solve important problems and deliver value to our clients. We encourage an inclusive culture where people can be themselves, are valued for their strengths and are empowered to be the best they can be. As an organisation with an increasingly agile workforce, we also support different ways of working offering flexible working arrangements.

For further information and to submit your application please click 'Apply'.

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