Compliance Specialist / Consultant

  • Market Competitive
  • Dublin, Leinster, Ireland
  • Contract, Full time
  • Non-disclosed
  • 18 Aug 17

Our client is leader in the promotion, management and distribution of financial and insurance products and services. The Group operates internationally in 14 different countries. It has assets under management in excess of € 43 billion and total income for the year 2016 was € 706 million. The Group is the largest independent asset manager in the Italian market. The Company is the Irish subsidiary of the Group. It was established in Ireland in 2003 and offers insurance products in the Unit Linked life assurance business.

We are looking for a candidate with experience in developing or restructuring (life) insurance compliance functions end to end. Reporting to the Head of Function, the successful candidate will:

• Help on the enhancement and development of the function and the risk compliance agenda; identify and evaluate strengths and weaknesses.
• Help formulate the Compliance strategy and operational plans for implementation.
• Support the implementation of the key Compliance strategic initiatives.
• Ensuring that all legal and regulatory obligations are embedded into the company processes, and that a strong compliance culture is fostered throughout the organisation.

• Enhance a lean, efficient and well-controlled compliance framework.
• Design/implementation of a fit for purpose Compliance Monitoring Programme.
• Work closely with other functional areas and third party suppliers to ensure that the company maintains an effective strategic approach to the management of Regulatory Risk.
• Assist and where appropriate manage Compliance projects.

Regulatory Requirements 
• Strong analytical skills with the ability to assimilate analyse / interpret regulatory requirements and co-ordinating implementation of regulatory requirements and Group Guidelines.
• This includes completing gap analysis, impact assessment and implementation of each requirement with the relevant business owners and working to ensure that identified actions take place in the most efficient possible way ensuring compliance. Ability to design solutions.

Solvency II experience
• Establish an approach for certifying compliance with Solvency II on an ongoing basis in order to provide annual assurance.

Policies, Procedures and Controls
• Maintenance of the policy framework to ensure that adequate policies, procedures, controls and monitoring are in place to ensure that all business complies with relevant regulations.
• Where necessary enhance policies, procedures, processes and controls and ensure that they are fit for purpose, fully compliant and that effective reporting mechanisms are in place.
• Identify any internal control deficiencies, vulnerabilities and risks and ensure that they are managed and reported accordingly. Collaborate with other departments to provide guidance on remediation.

Compliance assurance
• Development and delivery of compliance assurance programmes and audits following established requirements.
• Testing of procedures and controls taking appropriate steps to improve effectiveness.

Qualifications and Experience:
• 3rd Level relevant degree preferably.
• ACOI qualification would be advantageous.
• Solvency II experience.
• Solid experience and understanding of compliance obligations.
• Project management experience.
• Operational experience is a plus.
• Risk management is an advantage.
• EU Cross Border Life Insurance market will be a distinct advantage.

• In addition the candidate should have the ability to work on their own initiative. 
• Excellent attention to detail, tenacity and prioritisation skills.
• Strong analytical conceptual skills.
• Problem solving skills identifies shortfalls and suggests solutions.
• Ability to interpret legal and regulatory requirements.
• Strong verbal and written communication skills, ability to deliver information in a clear and concise manner.

The Candidate
• Hands-on, pro-active approach a team player prepared to get involved.
• ‘Can do’ attitude, self-starter, capacity to adapt and be flexible to approach new challenges.
• Ability to work under pressure and manage deadlines, solutions-orientated and focused upon delivering results.
• Personable
• High integrity.

Competitive salary and benefits package depending on candidate experience