RWA Chairman and Compliance Director, Terence Clark, has been elected by his peers to take on the role of Chairman of the professional body for compliance consultancy firms, The Association of Professional Compliance Consultants, or APCC.
The APCC took over from the original FSA (now FCA) sponsored steering group, which provided a forum for compliance consultants and the FCA to meet and discuss issues of joint interest.
Membership of the APCC is open to compliance consultancy firms who support the APCC's objectives and principles, agree to comply with the APCC Code of Ethics, which include the APCC Professional Standards, and meet its eligibility criteria.
The APCC provides support and guidance to a large number of consultancy firms across the financial services sector and its very close relationship with the regulators and other industry bodies, means that its members derive a significant benefit from regular updates, events and news.
The APCC often works in conjunction with the FCA to pilot or test new initiatives, and they also provide the FCA with valuable feedback on specific subjects as requested by them.
Clark said: “As a specialist in the general insurance broking sector, I was very pleased to see that over the last 5 years since I took on my original role as a Director of the APCC and latterly as Deputy Chairman, the level of engagement between the FCA and the organisation as well as the GI sector in general, has increased significantly.
“The general insurance sector plays a major part in the UK financial system, providing protection for so many individuals and firms as well as adding a significant level of income into the economy.
Historically, the GI sector has been somewhat underrepresented on the APCC board, so I am delighted to take on this important new role and to help increase the recognition of general insurance and the broking profession with the regulators and the general public.
“The APCC plays an essential role for professional compliance consultants, and I am pleased to see more and more consultancies of all sizes and specialisms becoming members, which will provide a large number of benefits to their clients.
“A key task will be to help the regulators understand what the general insurance sector does, how it works, why it is a sector that typically works well and to ensure that there is an appropriate and proportionate way of dealing with the sector at all levels. As someone who is at the coal face of general insurance broking, working with insurance brokers every day, I feel that I fully understand the needs and concerns of the insurance broking profession and will ensure that these matters are represented at all levels and with all stakeholders within our industry.”
Robin Wood, the founder of the leading business consultancy firm, RWA, went on to say: “Terence’s appointment is in recognition of his vast experience within the general insurance industry, his wealth of knowledge and qualifications and his ability to get to grips with often complex issues.
Terence has been a key figure within RWA’s team for many years. His appointment with the APCC will serve to further strengthen the professional standards of the industry and ensure that the GI sector is represented at the highest levels.”
Clark continues as Chairman and Compliance Director for RWA.