Our client is a major life insurance company that is part of an international group. It has a large market share in life insurance products in Belgium.
Our client is looking for a Head of Compliance.
As Head of Compliance, you will assess whether the instructions and/or procedures within the company respect the insurance regulation. You will identify, examine and evaluate compliance risks.
To that effect, you will, in particular:
• Advise and work on strategic compliance projects, develop and implement compliance-related policies and procedures, and ensure proper awareness of these within the company by training management, staff members and tied agents;
• Advise the management, translate regulations into specific obligations and improve the communication of those standards and obligations to employees;
• Improve the control and application of those compliance standards;
• Develop a Compliance Action Plan and insure that it is properly executed. It will incorporate the following non-exhaustive list of regulations:
o Compliance Function;
o Privacy and Data Protection;
o AML and Financial Sanctions;
o External Functions;
o Competition law;
o Market Abuse;
o Ethics (policy regarding gifts and invitations, whistle blowing and accessory activities);
o Special Tax Mechanisms;
• Organise the internal audit on the application of the Compliance Action Plan and the compliance measures;
• Report and a monthly and quarterly basis to respectively the management committee and the audit committee as well as to group compliance and on a yearly basis to the supervisory authorities, unless the occurrence of compliance breach events justify and require an ad hoc reporting to those authorities; report also on FATCA to the relevant authorities;
• Contribute to identifying, evaluating and controlling of compliance risks in cooperation with the risk assessment department;
• Keep up to date with evolutions and developments within the field of compliance, as well as of changes in the law and regulations applicable to insurance companies and insurance intermediaries;
• Maintain a good working relationship with the compliance departments of the other group companies.
• You hold a Masters in law or economics;
• You have at least 10 years’ experience as a compliance officer or as a lawyer in the field of financial services;
• You have an excellent command of French, Dutch and English;
• You are communicative and are able to translate complex legal issues into understandable language, both written and orally;
• You have an analytic mind and a hands on approach;
• You are a team player who provides leadership but who also invests in maintaining good relationships with different departments within the company;
• You have a strong sense of responsibility, you work in a precise manner and you have an organisational talent.
As Head of Compliance, you will be appointed as compliance officer of the company. As a result, you will enjoy the following guarantees in the execution of your function:
1. The right to approach the Chairman of the Board on matters the Management Board has not dealt with or does not deal with in accordance with its own integrity policy, the compliance charter and/or the compliance policy of the company and its affiliates.
2. The right of information on compliance matters in the broadest sense of the word, including the right of access to relevant reports issued by the Management Committee, the Board of Directors, company auditors or auditors of the affiliates, Internal Audit reports, Risk Officer reports and Actuary reports as well as the right to obtain relevant information from compliance officers in other segments of the group;
3. The right to request written statements from members of staff and management if necessary;
4. The duty to require that employees receive proper training on compliance topics.
In your function, you will be in charge of guiding and coordinating the efforts of a team of 3 compliance specialists. A fresh view and pro-active approach is welcomed. You will enjoy a very complete financial package.