Head of Compliance
Posted on Jan 24, 2019 by Morgan McKinley UK
Our client is a life insurance provider based in Ireland authorised by the CBI.
As the Head of Compliance, the successful candidate will be responsible for leading compliance oversight of businesses activities providing proactive compliance advice, monitoring & support. He/she will need to be familiar with all local regulations for a life business and ensure they are followed. In addition to this the individual will have shared responsibility, with the Chief Compliance Officer (CCO) for the Irish based fund management company.
This person will need to work with the compliance and oversight teams in the EU and globally to ensure all monitoring is completed in line with Confidential Policy and all issues reported in a timely manner.
The individual will agree the annual compliance monitoring plan and ensure the delivery of compliance assessments and regular monitoring in the specified business areas and participate in implementing effective regulatory risk controls. This includes reviewing marketing material and operational procedures. Also, the successful person will be expected to participate in cross-site & cross-functional projects.
The individual will be responsible for:
- Building on and maintaining an appropriate Compliance framework for the regulated activities undertaken by Life company and other business lines.
- Providing a professional proactive compliance service
- Managing [two] shared reports
- Designing and ensuring delivery of all compliance monitoring
- Ensuring delivery of a regular compliance audits for the business and its service providers.
- Checking that adequate policies, procedures and controls are in place to ensure that all parts of the business comply with relevant regulations.
- Preparation and distribution of the Errors, Complaints & Breaches log and other relevant compliance MI as appropriate.
- Approving and sign off all relevant marketing and customer documentation material distributed on behalf of the Life Company.
- Ensuring that regulatory submissions are made in a timely manner.
- Adopting the local MLRO role - delivery and oversight of AML/KYC procedures, training and new business acceptance
- Preparation of reports and/or presenting as required at the Board Meetings.
- Contributing to internal reporting on day to day activities (KTI, MI) and play an active role in relevant Oversight Committees.
- Provision of support for business, operational and regulator change projects to be implemented in respect of the investment activities undertaken locally.
- Acting as the primary point of contact for all queries from the Central Bank of Ireland and establish an ongoing strategy to build and maintain a good relationship with the regulator.
- Supporting the adherence to the company Code of Ethics.
- Oversight of the administration services provided by the Dublin office and MiFID branch activities
Experience and Qualifications Required:
Ideally you will have the following experience:
- Irish compliance experience, preferably within a life company.
- Strong communication and leadership skills with the ability to interact effectively at all levels.
- Good technical abilities and knowledge of the regulations (Solvency II, Life Regulations, AML, MiFID II).
- Good understanding of the insurance industry.
- Flexible and hardworking with the ability to work in a fast-paced busy environment.
- Team player prepared to get involved.
- Highly motivated with ambition to make a significant contribution to building the business
- Ability to balance attention to detail, to ensure accurate reporting and reconciliation, and also to see the bigger picture.
Morgan McKinley is acting as an Employment Agency in relation to this vacancy.
Please note that any references to salary or pay rates in this advertisement and in the salary refinement section are indicative only and should only be used as a guide.