Senior Compliance Officer, Lloyd's Brussels

at  Lloyds

Senior Compliance Officer, Lloyd’s Brussels
Lloyd’s is the world’s leading insurance and reinsurance marketplace. We share the collective intelligence and risk sharing expertise of the market’s brightest minds, working together for a braver world.
Our role is to inspire courage, so tomorrow’s progress isn’t limited by today’s risks.
Our shared values: we are brave; we are stronger together; we do the right thing; guide what we do and how we act. If you share our values and our passion to build a future that’s more sustainable, resilient and inclusive, you’ll find a home at Lloyd’s - build a braver future with us.

SKILLS KNOWLEDGE AND EXPERIENCE

Skills

• Influencing & negotiating skills across industry and profession
• Functional strategy development and influencing skills
• 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
• Strong verbal presentation skills
• Robust written skills to convey clear opinions, advices and analysis in a structured way
• Investigative capabilities

Knowledge

• Knowledge of Solvency II regulatory environment, regimes and requirements
• Knowledge of GDPR requirements
• Knowledge of FSMA and NBB regulatory landscape
• Insurance market knowledge, with focus on non-life business and large/corporate risks
• Knowledge of financial and business processes in the insurance industry
• Knowledge of corporate governance principles and structures

Experience

• Has experience of working in the non-life insurance industry in a role that involved ensuring compliance with relevant Belgian or EU regulatory requirements
• Has good market awareness and industry knowledge
• Is an analytical, strategic thinker, with good reasoning and hands-on experience in problem solving
• Is a confident and clear communicator
• Has well developed management and organizational skills, able to work with teams across multiple business areas and geographies.

ROLE PURPOSE

Supporting the Chief Compliance Officer in ensuring that LIC and its network of branch offices 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 LIC 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 LIC strategy for the management and mitigation of compliance risk.
• 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 UK regulations.
• 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 LIC branch offices 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 day-to-day compliance queries relating to NBB and FSMA Conduct of Business Rules, Data Protection, Complaints, and Training and Competence.
• Act as Data Protection Officer for LIC.
• Undertake the monitoring and analysis of current regulatory requirements and applying them appropriately to the business.
• Support the Chief Compliance Officer in his 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.

ROLE DIMENSIONS

• The scope of the role is aligned with the role of LIC Chief Compliance Officer. Being part of the independent control function required by applicable regulations, the role forms part of the service solution for Lloyd’s market access for both reinsurance and insurance in EU & EEA. The remit and regional scope of the role may evolve as part of Lloyd’s Market Access Strategy.
• No financial signing authority.