Compliance Officer for Dublin Job at Hiscox – in Dublin
Who are we?
Hiscox is an international specialist insurer and reinsurer. We provide market leading products and excellent service to individuals and businesses with unusual and often complicated insurance needs. A FTSE 100 company, we can trace our roots to the Lloyd’s market in 1901. We employ over 3,000 highly professional staff, have offices in 14 countries and customers all over the world.
We cover reinsurance and insurance risks that range from marine, terrorism, aerospace, technology, media and professional indemnity through to high value personal insurance, such as homes and contents, fine art, luxury motor, and kidnap and ransom, and are market leaders in many of our chosen areas.
The main underwriting parts of the Group are:
- Hiscox UK and Europe offers a range of specialist insurance for professionals and business customers, as well as high net worth individuals.
- Hiscox International includes operations in USA, Guernsey and Direct Asia offering a range of specialist insurance.
- Hiscox London Market, Hiscox Re and Hiscox MGA underwrites mainly internationally traded business in the London and Bermuda insurance markets – generally large or complex business which needs to be shared with other insurers or needs the international licences of Lloyd’s.
As the Compliance Officer supporting the Irish Business Unit you will drive the Business Unit’s understanding of regulatory risk, provide advice and help establish and improve control frameworks where necessary. You will be expected to combine your ability to understand the operational and commercial complexities of the business with the need to drive through regulatory change. Working with stakeholders at all levels of seniority you will be expected to provide advice and challenge in a constructive effective way. While the role is heavily focused on conduct regulation and reporting you will also be required to work on other regulatory topics such as financial crime, privacy, complaints, IDD and other topics.
Working with stakeholders to establish a good compliance culture
Providing regulatory advice and developing the Business Unit’s understanding of regulatory risk
Identifying commercially viable solutions to the application of regulatory requirements
Communicating regulatory change and establishing control frameworks
Being the regulatory subject matter expert in support to projects and change initiatives
Addressing findings from compliance monitoring reviews
Preparing Executive and Board level presentations
Overseeing the Irish Business Units key regulatory risks
Responding to the Irish Business Units day to day regulatory queries
Co-Coordinating and submitting key regulatory return
Review of Hiscox website and documentation to ensure compliance with 2012 Consumer Protection Code
Manage all requests for information as required under the Data Protection Acts and Code of Practice for the Insurance Industry
To actively manage the library of legal contracts for third parties; ensure that written contracts are in place for all material third party suppliers.
To maintain a register of delegated authorities and conduct periodic reviews.
To succeed in this role you will have a strong technical regulatory background and will be comfortable working in a complex and dynamic environment. You will be dealing with lots of different people, systems, processes and information so you’ll have to be versatile, flexible and highly organised. Personable and engaging your goal will be to build relationships with senior stakeholders and it’s essential you have the communication skills that enable you to articulate your position clearly and persuasively.
Graduate (2.1 or above or equivalent) and have completed the CIP qualification
LCOI qualified or working towards it
Ideally 3 – 5 years’ experience in a compliance role within an insurance environment. Those with less years but the right level of knowledge will naturally be considered
Knowledge of all relevant regulatory requirements including Consumer Protection Code, Minimum Competency Code, GDPR, Data Protection Acts, relevant applicable general legislation and any other regulatory requirements issued by the Central Bank of Ireland
Knowledge of commercial and personal lines insurance products and understanding of market dynamics
Ability to combine “soft” influencing, persuasion and consultancy skills with an ability to encourage business leaders to positively respond to questions, requests and challenges
Excellent written and verbal communication skills, capable of working with people at all levels within and external to the business
A key eye for detail and perhaps most importantly – sound judgement – and the ability to solve problems and identify commercially viable solutions
This is a fantastic opportunity to join Hiscox during a time of focused growth where you will have the remit to make a real difference.
Hiscox offers an environment where you are encouraged to grow with the team and this is an exciting time to be joining this fast growing organization. There will be plenty of opportunity for on the job career development within a supportive environment.
Company: Hiscox –
Company Location: Dublin