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Job Description
Head of Compliance role for a non-life insurer in Ireland, responsible for overseeing compliance with regulatory requirements and developing a comprehensive compliance monitoring program.
Our client, a specialty non-life insurer, is seeking a Head of Compliance to support the strategic build-out of compliance frameworks and procedures. The role will report directly to the CEO and be responsible for ensuring the company's adherence to statutory, regulatory, and guidance requirements.
The successful candidate will possess a minimum of 5 years of experience in a senior leadership Regulatory Compliance background within a non-life (re)insurer. Key attributes include:
- Registration or willingness to register with the Central Bank of Ireland as Pre-Approved Control Function 12 (PCF12), Head of Compliance
- Extensive experience in a Central Bank of Ireland regulated environment, with particular expertise in Freedom of Services operations across the European Economic Area
- Strong familiarity with the local regulatory and governance landscape
- Proven experience in developing, implementing, and managing corporate compliance programs, including handling ethical issues and codes of conduct
- Deep understanding of various compliance frameworks
- Excellent written and verbal communication skills, with the ability to engage effectively with all levels of management
- Strong relationship-building skills, particularly with senior stakeholders
- Ability to operate successfully in a fast-paced, dynamic organisation
The role will involve:
- Overseeing all duties related to the Central Bank of Ireland's Pre-Approved Control Function 12
- Providing expert advice to the board on compliance with Solvency II regulations and other relevant legislation
- Evaluating the potential impact of legislative changes on the company's operations, identifying and managing compliance risks
- Developing and implementing a comprehensive compliance monitoring program, reporting regularly to the Audit Committee
- Serving as the primary compliance contact for executive management, including overseeing compliance on all major projects
- Monitoring the company's adherence to statutory, regulatory, and guidance requirements
- Collaborating with management to ensure that effective compliance systems are in place and fully understood by all relevant staff
- Delivering regular compliance reports to the Board/Risk Committee, identifying trends and areas for improvement
- Defining and managing the Annual Compliance Plan in accordance with regulatory requirements and industry best practices
- Leading compliance training initiatives to ensure broad understanding across all levels of the business
- Reviewing and assessing new business activities to ensure compliance and mitigate potential risks
- Managing the company's complaint-handling procedures, ensuring they are followed and compliant
- Reviewing and updating company policies to ensure ongoing compliance with local legislation, recommending necessary amendments where needed
- Maintaining and updating the Conflict of Interest Policy annually, conducting reviews of the conflict register and mapping conflicts of interest
- Ensuring timely and appropriate disclosures to regulators and stakeholders, particularly in the event of a material compliance breach
- Serving as the Company's Data Protection Officer, appointed by the Board, ensuring the organisation meets all requirements of the General Data Protection Regulations (GDPR) 2015, and providing regular updates to the Board
- Contributing to the overall management of the company as part of the executive management team