March 27, 2020
Being a country Compliance Officer you will need to be able to operate under a matrix reporting framework and understand multiple lines of businesses around the following:
Corporate risk and broking : We know how companies can unlock potential through effective risk management. Our clients rely on us to craft strategies to quantify, mitigate, and transfer risk, taking advantage of our specialist industry experience and unparalleled market know-how. The result is a new way of embracing risk that drives superior results.
Human capital and benefits :High-performing institutions cultivate and grow talent, carefully balancing costs and rewards. From employee benefits to executive compensation, we take a rounded perspective, based on leading-edge thinking, data, analytics and software, unearthing new ways to motivate people, foster wellbeing and implement solutions that work.
Investment, Risk and Reinsurance :Our sophisticated approach to risk helps clients free up capital. We work in close contact with investors, reinsurers, and insurers to manage the equation between risk and return. Blending advanced analytics with deep institutional knowledge, we reveal new opportunities to maximize performance.
Guidance and advice on compliance with applicable laws and internal policies:
- Assist the Management in ensuring that all Colleagues understand all applicable Group polices (including Financial Crime, Anti Bribery & Corruption, Conflict Management and Complaint Handling policies and the Sanctions Protocol) and that local operating procedures incorporate controls to ensure compliance with all other Group policies.
- Maintain records of all standard quote, confirmation of cover and other applicable templates. Maintain a written record of all advice and exceptions granted to operational processes.
- Approve any changes to operating procedures and provide input into the development of new operating procedures resulting from new product developments and initiatives.
- Assist the Management in ensuring that all Colleagues understand the Groups quality assurance models and that local operating procedures incorporate controls to ensure that the principles are adhered to.
- Provide guidance and advice to management in developing awareness of the need to adhere to the highest business conduct and ethical standards in relation to business activities.
- Understand the local regulatory environment. Identify all applicable regulations and ensure procedures are in place to meet those. Develop and maintain the Regulatory Risk Assessment and or chart which sets forth applicable laws and regulations including licensing requirements and permissible and prohibited activities, and indicating how Willis Towers Watson ensures compliance with each requirement. Where appropriate develop a local compliance manual.
- Monitor regulatory developments and report any new or proposed regulation or legislation that may impact Willis Towers Watson to management and Regional Compliance Officer / Compliance Director.
- Discuss promptly with management and Regional Compliance Officer and or the Compliance Director any problems or concerns of a regulatory or compliance nature and agree the corrective action to be taken including responsibility, timelines and review date
- Work with local management to ensure clear communication and understanding of all Willis Towers Watson policies and procedures and other regulatory information, and how these are addressed by local operating procedures.
- Provide training on local regulatory requirements and Group policies including financial crime, Anti Bribery & Corruption, sanctions, managing conflicts of interests, and the Willis Towers Watson Code of Conduct, including the need to adhere to the highest business conduct and ethical standards in relation to business activities.
- Ensure that all required training is completed and adequate records maintained.
- Analyse completed Quality Assurance file reviews, final inspections reports, internal audit reports, external audit reports, licensing authority examinations and other performance data to identify, weaknesses in internal controls and training needs. Recommend actions, if any, to be taken including responsibility and review date.
- Report to Group Compliance and assist in the investigation of any suspected, alleged or actual breaches of legal or regulatory requirements or internal compliance policies and standards, and ensure that any established breach is appropriately resolved including corrective actions, responsibility, timelines and review date.
- Monitor the Willis Towers Watson Gifts, Entertainment and Hospitality Policy, provide guidance on interpretations, provide training to Colleagues, and report any issues to Management and the Regional Compliance Officer/Compliance Director. Maintain records of all Gifts, Entertainment and Hospitality queries and responses.
- Develop corrective action plans and track implementation status. Identify and communicate additional action required by senior management where persistent issues are noted within the country.
- Support completion of quarterly Controls Risk Self-Assessment.
- Ensure that advertising and research material is reviewed from a regulatory compliance and reputational risk viewpoint with issues discussed with Group Compliance as required.
- Monitor compliance will local regulatory requirements through the development of an annual formal review process appropriate for the business. Report to management and the Regional Compliance Officer/Compliance Director all review findings. Develop corrective action plans and track implementation status.
Assist with Regulatory Issues
- Work with management to ensure that all applicable licensing/regulatory requirements are met
- Maintain a register of advice provided to the offices regarding applicable licensing or other regulatory laws
Provide regular reports to the local Country Leader and to the Regional Compliance Officer /Compliance Director covering:
Communications and Relationships
- Serious or persistent compliance issues
- Results of monitoring activity, including self-assessment file reviews
- Results of internal or external audits and other compliance inspections
- Regulatory breaches
- Will have relationships with all functions within Country as well as relationships with International in London, the relevant Compliance Directors Regional Compliance Officers and Internal Audit.
- Contact with Colleagues likely to amount to 60% at least of role
- Limited external relationships. Will need to have relationship with Regulators, local Insurance Brokers Association.
- Compliance and Regulatory knowledge and experience in Financial Services Industry essential.
- Academic level, preferably in Law/Finance or Quantitative specialization.
- A completed certified Compliance Professional/Officer education
- Experience in General insurance, life insurance and pensions, or Mifid regulated financial services firms, would be an distinct advantage but not essential.
- Good understanding of conduct of business
- Excellent written and oral communication skills
- Conflict resolution and negotiation skills
- Able to work on or within small motivated team
- IT Literate – knowledge of Microsoft packages
- Languages – essential Dutch and English desirable French
An assessment is part of the application procedure.
Equal Opportunity Employer