JOB PURPOSE

Leads day-to-day regulatory compliance and compliance best practices, oversight of regulatory filings in support of the business, and regulatory engagement for R&Q Legacy.

KEY RESPONSIBILITIES

• Oversee the development, maintenance and administration of a comprehensive program for internal compliance, regulatory controls, and reviews throughout the US to ensure entity-wise compliance with applicable federal and state laws and regulations
• Lead regulatory engagement by maintaining contact and productive relationships with the regulators of the US businesses
• Lead troubleshooting in those instances where business practices or business objectives may not mesh with regulatory expectations
• Keep abreast of regulatory and legal developments governing regulatory compliance and oversee the development and implementation of changes to existing and proposed procedures, policies, and programs
• Oversee third-party examinations and audits and ensure that information requests from insurance carrier partners, auditors, and regulators are completed accurately and on-time
• Partner with US business units regarding need for new or revised compliance standards and procedures
• Oversee drafting and dissemination of new and revised compliance standards and procedures
• Recognize, develop, and implement cost effective compliance related solutions for the US compliance program
• Ensure that the US compliance and regulatory controls plan is adhered to by all departments and that company behavior reflects the rules, regulations and related company policies and procedures
• Provide advice, guidance, and insight to management and staff regarding new/emerging compliance issues and on ethics, business conduct, and compliance matters including the development and oversight of compliance training programs
• Consult and guide the company in establishment of controls to mitigate compliance risk
• Identify and communicate the need for compliance education programs and oversee the development and implementation of compliance training for all staff members
• Oversee third-party examinations and audits and ensure that information requests from insurance carrier partners, auditors, and regulators are completed accurately and on-time
• Support the US General Counsel in other projects and day to day activities as these arise
• To maintain compliance with any applicable US, UK, or International statutory or regulatory obligation as required by the role. This includes but not limited to obligations arising from:
  • The prudent management of the business
  • Placing due regard on the interests of customers
  • Observing rules on Sanctions and financial crime
  • Regulatory requirements and local licensing restrictions
  • Promoting and following the Group’s whistleblowing procedures
  • Promoting and providing guidance to reports in relation to the Group’s Whistleblowing policies and procedures
  • Where applicable, following the Company’s Consumer Duty principles to deliver good outcomes for retail customers.

SKILLS / KNOWLEDGE

• Proficient with a computer, particularly in Microsoft Office suite including Word, Excel, PowerPoint
• Thorough knowledge of insurance laws and regulations, as well as regulatory and compliance guidelines
• Excellent leadership skills with an ability to lead, train, motivate, empower, engage, and assist a team, delegate tasks, and problem-solve
• Strong organizational skills and attention to detail
• Ability to think critically and analytically, solve problems, and plan and organize activities
• Ability to work in a fast-paced environment and multi-task effectively under strict deadlines
• Ability to work independently and collaboratively
• As a Manger, you are expected to demonstrate the following skills:
  • Teambuilding: Builds consensus via shared decision making. Fosters a sense of shared accountability and group responsibility. Creates a work environment based on inclusiveness, welcoming others’ suggestions, and points of view. Regularly looks for common ground and encourages collaboration among team members.
  • Communication: Communicates clearly and effectively at all levels. Produces easily understandable reports and presentations. Effectively deals with others, both internally and externally. Provides timely feedback and follow up, and encourages open communication, cooperation, and the sharing of knowledge.
  • Leadership: Provides an appropriate amount of structure, direction, and feedback to ensure a high level of group performance. Structures projects and assignments with clear goals and measurable outcomes so that team members can creatively individualize solutions.

Education

• J.D. with 10 years of insurance regulatory experience strongly preferred. Alternatively, a bachelor’s degree in insurance, law, finance, business administration, or relevant fields, with 15 years of insurance regulatory experience will be considered.
•  Professional certifications(s) (e.g., Certified Regulatory Compliance Manager (CRCM), Market Conduct Manager (MCM), Certified Risk Professional (CRP), CPCU, etc.) are a plus

Experience

• 10 years’ experience in insurance with extensive knowledge, experience, and understanding of insurance operations, and the insurance industry, particularly in insurance runoffs
• Experience in driving compliance controls applicable to economic sanctions, anti-money laundering, privacy, conflicts of interest, code of conduct, anti-corruption, anti-trust, anti-boycott, insider trading and records management preferred