Standing still is not an option in the current world of Insurance. TMHCC are one of the world’s leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.
We are now recruiting a Compliance Officer within our Legal & Compliance Department for Tokio Marine Europe SA (‘TME’) based in Luxembourg. The role reports to the Head of Legal & Compliance, TME.
The Compliance Officer will support TME adhering to all relevant regulatory, legal, and compliance standards. The role involves monitoring and evaluating compliance risks, advising management on regulatory requirements, and developing internal policies and procedures to mitigate risks.
The Compliance Officer also plays a key role in ensuring TME’s operations and products comply with insurance regulations and ensure we maintain a proactive culture on regulatory matters. The postholder will be well-organized and proactive, providing timely advice and support on compliance and regulatory matters to the Head of Legal & Compliance and the team. In doing so, the capability to understand the business, engage with stakeholders, as well as provide high quality reporting with a strong attention to detail, will be crucial to success.
The remit of the role covers the European markets where TME has presence, with emphasis on the Benelux region.
Regulatory Compliance & Engagement:
- Ensure proper identification and implementation of the TME regulatory obligations for insurance activities of our Head office in Luxembourg, TME branches in Belgium and the Netherlands, and any other TME branches where this is needed.
- Ensure that regulatory requirements are properly understood by all business units and staff therein by way of regular training, the coordination and dissemination of relevant regulatory notifications or association circulars and assisting with the operational transposition of requirements into business procedures.
- Be the contact person with the regulatory authorities in Belgium and the Netherlands.
- Monitor emerging and developing local regulatory changes within the market, consultation papers and policy statements issued by relevant regulatory authorities and wider international bodies, liaising as necessary with the TME Legal & Compliance team, the TMHCCI Compliance team, on how any such developments may impact TME.
- Contribute to responses to regulators and/or external requests (e.g. KYC questionnaires)
Policy Development and Implementation:
- Develop, update, and maintain internal compliance policies and procedures in accordance with industry standards and regulations.
- Support training initiatives on compliance policies, procedures, and legal obligations.
- Contribute to promoting a culture of compliance within the organization through ongoing education and communication.
Risk Assessment and Management:
- Identify and assess potential compliance risks related to the company’s insurance products, operations, and marketing practices.
- Develop action plans to address compliance issues and implement corrective measures.
Reporting and Documentation:
- Maintain accurate records of compliance activities, including risk assessments, audits, employee training, and regulatory communications.
- Coordinate the preparation of compliance reports for senior management, regulatory bodies, and the Board of Directors.
Stakeholder Management:
- Effectively work with different teams (Claims, Underwriting, HR, third party management, Procurement, etc.) to address compliance issues and raise awareness.
- Liaise with the branch managers or legal representatives and the business line managers to improve understanding of all the risks in the business.
Other:
- Contribute and assist as required in the implementation of the functions activities as per the TME Legal & Compliance Plan.
- Assist in ad-hoc projects and tasks with legal & regulatory elements.
- Contribute to regular internal reports for the department.
- Complaints’ contact person of TME Branches in Belgium and the Netherlands.
- Fluent in English and French is required.
- 2-4+ years of experience in compliance, or risk management, within the insurance industry, preferably in any of the countries of the BeNeLux area.
- Good knowledge of insurance regulations and compliance frameworks, and ability to operationalise such regulatory requirements.
- Ability to handle multiple tasks and meet tight deadlines.
- Strong communication skills, both written and verbal, with the ability to clearly articulate compliance policies and procedures.
- Demonstrate a high level of problem solving and strong analytical skills to assess risks and regulatory changes.
- Ability to manage own workload, prioritising tasks appropriately and ensuring that agreed delivery dates are achieved.
- Experience working in a proactive way, collaborating with colleagues, following up tasks appropriately and keeping the team up to date on activities and progress.
- Excellent interpersonal skills, able to communicate effectively with a wide range of stakeholders either face-to-face or virtual.
- Experience in an international company.
- Proficiency in Dutch is a plus.
- Experience working with regulatory agencies in BeNeLux.
The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals. The Tokio Marine HCC Group of companies is an equal opportunity employer.
