Position Summary
We are seeking to hire a Compliance to join our Luxembourg office.
The Compliance Officer, CICE is responsible for Compliance in CNA Hardy’s Continental European operations, which operate through its Luxembourg insurer, CNA Insurance Company Europe S.A. (“CICE”). The role is the compliance key function holder for CICE (subject to appropriate approval from the CAA).
CICE writes in excess of $225 million in gross written premium through six branches: Belgium, Denmark, France, Italy, Germany & The Netherlands, as well as from Luxembourg. CNA Hardy offers a broad spectrum of products and services across the Property, Casualty, Marine and Specialty classes. Products are tailored to meet the needs of customers, large to small, in the following industry segments: Construction, Financial Institutions, Healthcare, Manufacturing, Professional Services and Technology.
Key Responsibilities
- Provide operational compliance and regulatory affairs support to the company’s operations across Europe.
- Be the principal point of contact for the Luxembourg regulator Commissariat aux Assurances (“CAA”) for regulatory compliance matters.
- Proactively manage open and co-operative relationships with all of CICE’s other key regulators and external stakeholders to ensure regulatory risk is appropriately managed.
- Ensure Compliance policies, procedures and processes are appropriate for the regulatory environment in Luxembourg.
- Act as the key point of contact for compliance matters for regional managers and legal representatives.
- Comply with all applicable legal and regulatory requirements and ensure, at a level appropriate to the position, that appropriate measures are in place to ensure this compliance.
- Provide guidance on the interpretation and application of CAA and other applicable regulations.
- Contribute to the implementation and embedding of the Conduct Risk Framework ensuring CICE achieves its Conduct Risk Appetite.
- Manage regulatory licensing obligations for CICE and its branch network.
- Contribute to the development of the annual Compliance Framework and Programme set by the company and be responsible for monitoring compliance with the framework in the regions.
- Work with the CNA Hardy compliance team in London, support the delivery of the compliance plan across all CNA Hardy entities, with a dotted lined to the CNA Hardy Compliance Director.
- Manage referrals from the business or the compliance team in London that have an EU sanctions focus.
- Ensure timely and accurate delivery of compliance reports to the CICE Boards, Board Committees and within the Compliance function.
- Attend and report on compliance matters to CICE governance forums, including the Risk Committee and the Management Committee.
- Keep pace with changes to legislation, regulations and market practice; responding to regulatory consultations in close collaboration with the CNA Hardy Compliance Director.
- Promote a culture of pro-active compliance within the Company.
- Drive a high performance culture through leading by example and setting the tone for the organisation.
- Support the compliance advisory section within Compliance, providing counsel and support to ensure Compliance pro-actively supports first line management in meeting regulatory change.
- Support the compliance monitoring sections within Compliance, providing counsel and advice to ensure Compliance provides assurance or alerts (if needed) in relation to CICE’s control performance.
- Manage, oversee and deliver compliance projects including scheduling and ad hoc projects and provide compliance workstream support on business-led projects.
- Collaborate with a locally-based small team, with support from the Head Office Compliance team based in London to coordinate monitoring, assurance and transactional advice to the business.
- Manage and coordinate regulatory filings to the CAA.
- Work with the CICE CRO and CICE General Manager to manage day-to-day compliance issues across the business and provide compliance support as required.
- Work on special projects as necessary at the behest of the General Manager.
- May perform additional duties as assigned.
Skills, Knowledge & Experience
Requirements:
The successful candidate will have a track record in progressive compliance roles within a similar size operation focused on general commercial insurance operations. Direct experience within the European market with an understanding of regulatory requirements and reporting in Luxembourg is preferred. Further, the successful candidate should be comfortable working in a matrix environment with the ability to influence and build relationships within the greater enterprise and distribution channels.
The candidate meets the criteria to be appointed as Key Function Holder for the Compliance function as defined in CAA circular letter 21/12.
The candidate will have the following skills and experiences. Though each of the following items is not a requirement, a compelling combination of the following is required:
Skills
- Excellent interpersonal skills to work collaboratively with colleagues and embed a culture of compliance in the company.
- An ability to work off your own initiative to organise, prioritise and manage work effectively to deadlines.
- Decision-making ability and the ability analyse and resolve problems.
- Experience of dealing with regulatory authorities at a senior level.
- Ability to apply regulatory and compliance requirements to the business in an efficient and business friendly manner and to respond to change positively and flexibly.
- Takes a hands-on practical problem-solving approach to achieving business outcomes and to ensuring that the right business culture and behaviours are being pursued.
- Sound judgment and a willingness to exercise it and be assertive as necessary.
- Knowledge of Microsoft Office Suite and other business-related software systems
- An ability to communicate at all levels in the organisation with confidence and clarity.
Education and experience:
- Minimum 5 years’ experience in a similar role
- Experience in working for a multi-line insurance company
- Experience of Luxembourg legal and regulatory requirements
- May have related industry professional education.
The Company
CNA Hardy is a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets. We offer a highly specialised and comprehensive portfolio of innovative and market leading products. Coverage is available to businesses of all sizes for domestic, international and global exposures.