Compliance Officer

  • Post Date: November 18, 2022
  • Isle of Man
Job Description

As compliance officer you will take a proactive role in ensuring that the group and its subsidiary companies understand and are compliant with their respective legal and regulatory obligations and accountabilities on a continuing basis, promoting and sustaining a sound compliance culture, carrying out monitoring of internal policies and ensuring all regulatory submission deadlines are met throughout the course of the financial year.

Role Responsibilities
– Actively contribute to the day-to-day activities of the Compliance Team, in line with the overarching objectives of the Group Risk and Compliance (GRC) Department.
– To assist and maintain an effective and fit for purpose compliance framework, which guides and defines organisational behaviours, provides a clear context for business decision-making and positively influences the performance of functional and operational activities across the Group.
– To provide active support to the Compliance Manager to ensure that the Life Companies of the Group and their service providers and employees remain cognisant of and compliant with their respective regulatory obligations and proactively maintain adequate, effective and auditable policies, procedures, reporting mechanisms and training materials.
– To assist and deliver a customer centric compliance programme, with the support of the wider Compliance Team, which together with business colleagues, helps to ensure positive customer outcomes by analysing processes, behaviours and procedures and proposing and implementing effective change.
– Participate in new business projects while maintaining strategic focus.
– Assist with and deliver broader assurance testing in respect of Life Company and service provider compliance
– Provide support in the analysis and communication of consultation papers, thematic reviews and other developments in the external environment across IOM, Labuan, Japan, The Bahamas and Ireland.
– Horizon scanning of the broader environment for significant and material developments.
– Participation in the Legal and Regulatory Forum, Service Level Agreement meetings and any other internal or external forum as required
– Assist with the training and support services to staff across the Group.
– Compliance Calendar and monitoring – updating of all relevant reporting requirements and ensuring reporting is carried out in the requisite timescale.
– Policy and Procedure updates / breach assessment and ORE review.
– Review and sign off of sales literature / communications.

Skills & Experience Required:
– ICA qualified to Certificate level or currently studying towards an ICA qualification.
– First-hand experience in a compliance role within the financial services industry (min 2 years).
– Demonstrate good knowledge of the legal and regulatory frameworks which govern the insurance or financial service sectors in multiple jurisdictions.
– Knowledge and understanding of risk management, internal control and corporate governance principles and practices.