This is the first instalment of our new interview series – A Day In The Life at Marsh.  

This week, we spoke to Stephen Thomas, Marsh Finance’s Risk and Compliance Advisory Manager. He has been at Marsh Finance for 4 years and has been an integral part of some of our largest projects, including Marsh Valued Partnerships.  

So, Steve, what does a typical day at Marsh look like for you? 

There is certainly no ‘typical day’ in compliance. I can be working on anything from general compliance advisory support for the business on all things policy (DPA, TCF, Financial Promotions etc) all the way through to strategic business plans and implementation of new regulations from the FCA.  

In my role, I regularly engage with our partners on a consultancy basis, where I provide support and guidance on their overall compliance. 

Is there a certain task you like the most? 

One of the key areas I enjoy the most is working on Financial Promotions. It is safe to say that there is a huge focus on this topic, and it’s incredibly unlikely to go away anytime soon. We have seen a big gap in regulator expectations of firms’ approach to promotions. My work in relation to Due Diligence gives me the unique opportunity to help our partner firms adhere to the financial promotion’s requirements. For me, it is a very fulfilling piece of work to be involved in. 

It is safe to say no two days are the same, but what tasks do you typically complete weekly? 

Approve all Financial Promotions. 

General data protection oversight. 

Policy & Procedure updates. 

Creation of Gap analysis documents across the business. 

Third party due diligence. 

Risk management. 

Compliance service desk support. 

New Consumer Duty implementation. 

Regulatory training creation and enhancements of modules. 

Horizon Scanning. 

Implementation of the MVP programme. 

Attendance of any industry webinars or events such as FLA. 

Project owner of several internal regulatory initiatives. 

Management of staff. 

Handling Suspicious Activity Reports. 

Just to name a few! 

What do you love about your job in particular? 

Working with the people in Marsh. Over the past 4 years I have seen some amazing people come into the business and I genuinely feel like I am working within one of the best firms in the UK. Marsh clearly values inclusion, diversity, and hard work. It also rewards people and cares about them which I have not experienced with any other firm. The Directors, Andrew, and Paula, continue to build a genuinely amazing culture within Marsh Finance.  

The only downside is there are not enough hours in the day! 

Why do you think customers and introducers should choose Marsh? 

There has been and continues to be a considerable investment within Marsh in all areas. All of this has been put together with the goal of getting the right outcomes for customers. I have worked with many firms that have great-sounding culture statements but few of them follow through with much, if any substance. Marsh puts its money where its mouth is and really values everyone it works with, internal, external, customer or business. 

Marsh have always strived to do the right thing and to go beyond the minimum regulatory standards – whilst championing innovation. 

What do you think makes Marsh different to its competitors? 

Over the past 4 years we have worked heavily on bridging our sales and compliance processes within the business for the benefit of our customers and business partners. We have one such initiative called Marsh Valued Partners ‘MVP’. MVP has been developed to better support partners in a period of accelerated change within the automotive industry. We reviewed the challenges faced by car finance intermediaries and developed a service to help solve these challenges, whilst also enabling us to build stronger relationships across our industry. I have not seen such a project in the industry before and I am very excited to be a part of it.   

We believe our work in relation to MVP is of a significantly superior standards in the form of support to our partners to those of our peers. 

Finally, what are three interesting facts about you? 

  1. My cousin is the head kit manager for Manchester United. 
  2. One of my favourite films is ‘Howard the Duck’. 
  3. I am a big advocate for change and driving innovation, even if this means breaking the mould and going against the grain. This is especially true if it is in the interest of our customers. 

Steve, and the rest of the compliance team, are a huge asset to Marsh Finance. Their work on our newest venture MVP is key to its success. 

 If you’d like to hear more about how our compliance team can help you through our MVP scheme, visit our website to find out more –