Compliance Officer

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Role Purpose :

Supporting the Chief Compliance Officer and his / her direct reports in ensuring that LIC and the Lloyd’s network of branch offices in Europe Region has effective systems and controls for compliance with requirements and standards under applicable regulations (including outsourcing arrangements, data protection measures), and for countering the risk that Lloyd’s Europe might be used to further financial crime (e.g. sanction, anti-money laundering, prevention of fraud, market abuse and tax evasion).

Principal Accountabilities :

Support the development, delivery and implementation of Lloyd’s Europe’ strategy for the management and mitigation of compliance risks.

Actively contribute to the delivery of the Compliance plan as yearly approved by LIC Board of Directors.

Take ownership as required in the development of policies to address applicable regulatory requirements.

Act as a centre of expertise in sharing knowledge of requirements and compliance risk and, where appropriate, delivering appropriate training to management and staff.

Monitor the company’s adherence to policies to provide assurance that Company is compliant with Solvency II, Belgian, EU and – when applicable - UK regulations the latter in close interaction and support with the LIC UK Branch Compliance Manager and the Corporation of Lloyd’s Compliance Team).

Conduct compliance reviews, monitoring and testing to assess whether Company policies have been appropriately implemented and compliance risk managed to an effective level.

Work in partnership with Lloyd’s Europe branch office colleagues to ensure compliance in the branch offices.

Identify, monitor, assess and manage compliance risks and requirements including, for example, in respect of external reporting, outsourcing and of GDPR.

Handle timely and duly any compliance-related queries relating to NBB and FSMA Conduct of Business Rules, Money Laundering, Sanctions, Complaints, whistleblowing and Training and Competence.

In line with regulators requirements, undertake the monitoring and analysis of current regulatory requirements and applying them appropriately to the business.

Support the Chief Compliance Officer and his / her direct reports in his / her oversight, challenge, advice, escalation and reporting activities; liaising with other colleagues working in independent functions and with Managers and team members in the 1st LoD.

Promote and engender a strong compliance culture throughout the organization through the drafting of Compliance Communications and updates.

Skills :

Influencing & negotiating skills across industry and profession

Functional strategy development and influencing skills

Ability to challenge status quo, with providing solutions or alternatives

Complex business / regulatory issue or problem analysis and resolution skills

Driving change and innovation skills

Ability to lead projects and initiatives

Ability to work in a multi-cultural environment

Knowledge :

Knowledge of Solvency II regulatory environment, regimes and requirements

Insurance market knowledge. Knowledge of Lloyd’s, London Market & International Markets and other financial services markets is a plus.

Knowledge of financial and business processes in the insurance industry

Knowledge of corporate governance principles and structures

Experience :

Has experience of working in the Financial Services regulatory environment in a role that involved ensuring compliance with relevant Belgian or EU regulatory requirements

Has good market awareness and industry knowledge

Is analytical, with good reasoning and problem solving skills

Is a confident and clear communicator

Has well developed management and organizational skills, able to work with teams across multiple business area

Competences : Working with people

Delivering results and meeting customer expectations

Applying expertise and technology

Adapting and responding to change

Results orientation / can-do attitude