Compliance Officer

at  Combined Insurance

Do you have significant insurance knowledge and experience in the financial services?
If growing your skills and experience within a global player in the commercial insurance industry is of interest, with an excellent benefits package and hybrid home/office working, then we would love to hear from you!
The Local Compliance Officer, Italy (LCO) is responsible for the performance of the Compliance function in Italy under the direct supervision of the L&C Manager Italy. The LCO provides advice to local business leaders on Compliance and regulatory requirements and ensuring the implementation of systems and controls to mitigate those requirements across all lines of business.

REQUIRED SKILLS & EXPERIENCE:

• Significant insurance knowledge and experience in the financial services.
• Experience in distribution of insurance products, in particular to consumers.
• Experience and understanding of Italian insurance law and regulation.
• Understanding of the EU regulations.
• Experience in dealing with key stakeholders ,including senior managers.
• Excellent communication skills.
• Relevant compliance and/or audit qualifications and/or law degree.
• Fluent in Italian
• English – fluent (written and spoken)

Advice

• Provide the business and local management with proactive and reactive advice, training and support on compliance and regulatory in accordance with regional timetables, procedures and methodologies.
• Ensure the effective implementation of the Business Compliance Framework across the Italy Region.

Monitoring

• Support the regional monitoring team to carry out Compliance monitoring activity in accordance with agreed schedules and methodologies in Breaches & Incident monitoring.

Policy / Reporting & Planning

• Assist / co-ordinate/ lead (as required) compliance related projects in Italy
• Regular reporting of activity and issues to both L&C Manager Italy and the CE Senior Compliance Manager.
• Draft the country specific Compliance Plan for Italy.
• Monitoring laws, regulations, industry trends, assess impact, advise, provide recommendations for actions, tracking implementation for Italy
• Log and update all regulation that may have any impact in Italy.
• Maintain, update and follow up the Italy breach and incident log

Financial Crime / Sanctions

• Advice and review AML Local Policies for the life entity (UIF/Bank of Italy etc)
• Advise on and review regional Gifts & Entertainment log local entries.
• Support the Regional Sanctions Team where relevant.
• Advice on any other Financial Crime issue and liaison with the Regional Team.
• Officially be appointed as AML Officer

Regulatory Services and compliance

• Proactively engage with local management to
• Maintain a culture of compliance throughout Chubb’s Italian operations,
• Ensure that the organisation is aware of and adheres to regulatory requirements and Chubb policies,
• Ensure compliance and regulatory matters are raised and resolved
• Manage regulatory reports and notifications and ensure timely compliance submissions to our regulators. Mandatory reports are sent to local regulators (Ivass/UIF)
• If necessary and with the support of the L&C Manager liaison with local regulators with a view to building strong positive relationships with regulators and a compliance orientated culture within the businesses.

Compliance Risk Management

• In line with Regional instructions, ensure procedures are in place to identify legal, compliance, physical and operational risks and, in conjunction with other functions and the business, determine systems and controls to mitigate these risks (Business Compliance Framework).
• Work with the business leaders to ensure the implementation of accurate and effective Compliance Risk Registers.

Legislative Decree 231/01 – Chubb Branch Organizational Model

• Be familiar with Leg. Decree 23/02 in particular as member of the IMOC (Organismo di Vigilanza) which monitor the application of the Organizational Model adopted by the Branch and in such role liaising with the IMOC Chairman, Regional team and CoSec