Compliance Officer

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.

Context

Lloyd’s Europe (also known as Lloyd’s Insurance Company for the Solvency II insurance undertaking based in Brussels) is Lloyd’s flagship for insurance and reinsurance business in the EU/EEA.

All staff within Lloyd’s Europe have an integral part to play in the achievement of the strategy of the firm and will contribute overtly to Lloyd’s Europe, becoming a brand that is admired, recognised and respected.

LIC is known for its integrity and aims to be a place where talented, diverse and socially responsible employees feel proud to work.

This role is part of the team of Compliance, an independent control function that is under regulatory requirements prescribed by Financial Services and Markets Authority (FSMA) and the National Bank of Belgium (‘NBB’). The holder of this role will be supporting the Compliance team under the leadership of LIC Chief Compliance Officer in delivering on his/her mandate, in close interaction with the other 2nd LoD functions, the Management, the business, operations and 3rd LoD.

Role Purpose: Simple single statement

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 organisation through the drafting of Compliance Communications and updates.

Leadership expectations

The role holder is expected to contribute to an open and transparent culture of compliance risk management and demonstrate a strong awareness of the risks that should be managed within the responsibilities of the role. The role holder is also expected to deliver responsibilities in line with all relevant risk appetites, policies, reporting and when applicable, input to reviews and projects as required.

Management of Risk and Internal Controls

The role-holder will contribute to overseeing Lloyd’s Europe’ compliance risks and ensuring the proper operation of policies and processes to mitigate those risks and report accordingly.

Role Dimensions

• Reporting to a direct report of LIC Chief Compliance Officer
• No financial signing authority
• Travels in EEA and UK is part of the role

Skills

Skills Knowledge and Experience

• 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 organisational 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

Lloyd’s Values

We are brave

When we are brave we demonstrate leadership. We have the confidence to challenge, question and put forward new ideas. We lean into challenges and ask ourselves what is really going to move the dial to make the Corporation, the market and wider society better than it is today

We are stronger together

When we work together we share expertise, seek diverse perspectives and bring brilliant minds together to solve complex problems. Together we are greater than our component parts – innovation and ambition are powered by collaboration and inclusivity.

We do the right thing

We take action because we care about what is right and we want to leave the Corporation, the market and communities in a better place than we found them. We earn trust by delivering on our commitments. We support each other to speak up and listen, and we make decisions that are informed, responsible and fair.

Qualifications

Academic Qualifications in line with role profile

Professional Qualification:

• ACAM, DPO and/or certified Insurance Compliance Officer are a plus
• Fluency in English (spoken and written) is a requisite. Knowledge of either French, Dutch or any other European language is a plus

Diversity and inclusion are a focus for us – Lloyd’s aim is to build a diverse, inclusive environment that reflects the global markets we work in. One where everyone is treated with dignity and respect to achieve their full potential. In practice, this means we are positive and inclusive about making workplace adjustments, we offer regular health and wellbeing programmes, diversity and inclusion training, employee networks, mentoring and volunteering opportunities as well as investment into your professional development. You can read more about diversity and inclusion on our website.

By choosing Lloyd’s, you’ll be part of a team that brings together the best minds in the industry, and together with our underwriters and brokers, we create innovative, responsive solutions allowing us to share risk and solve complex problems.

Should you require any additional support with your application, or any adjustments, please click the following link;

https://cleartalents.com/apply/lloyds-msa1645695881

Please note, clicking on this link does not register your application for the vacancy