Compliance Officer (Insurance Sector) - Ireland

Strategic Risk Solutions; Ireland; On-site; EUR 60,000 - 80,000; Full time

Job summary

A leading company in the insurance sector seeks a Compliance Officer for their Ireland office. The successful candidate will ensure adherence to compliance regulations and provide legal guidance on licensed operations. This role offers opportunities for professional growth and impacts SRS's mission across Europe.

Benefits

Challenging and rewarding role

Opportunities for professional development

Supportive and collaborative work environment

Qualifications

• Experience in non-life (re)insurance industry.
• Familiarity with CBI Regulations, Solvency II, GDPR.
• Compliance Function (Solvency II) titles held.

Responsibilities

• Ensure compliance with Irish and EU regulations.
• Monitor evolving regulatory requirements.
• Conduct compliance assessments and develop documentation.

Skills

Compliance management

Regulatory knowledge

Risk assessment

Stakeholder management

Legal advice

Education

University degree in Insurance Law, Corporate Law or Compliance Management

Job description

Compliance Officer (Insurance Sector)
Company:SRS Ireland
Location:Ireland
Job Purpose:Work within our Ireland office and SRS Europe to provide legal and compliance services to a range of clients.
Job Role:We are seeking a highly skilled and knowledgeable Compliance Officer to support our insurance management operations in Ireland and within Europe.
This role is central to ensuring compliance with Irish and EU regulations (EIOPA) governing the insurance and captive and commercial management sector, with an emphasis on regulatory standards set by the Central Bank of Ireland (‘CBI”), anti-money laundering (AML) laws, data privacy regulations, and related Irish corporate governance requirements.
The successful candidate will work closely with cross-functional teams, including legal, finance, and risk management, to implement, monitor, and maintain robust compliance frameworks, as well as support legal requirements associated with captive insurance management.

Principal Accountabilities:

As concerns the captive & commercial (re)insurer clients (“the clients”) of SRS Ireland and SRS Europe:

Compliance Advice and Monitoring:

• Ensure adherence to Irish (re)insurance regulations, especially as they apply to captive (re)insurance structures, by monitoring evolving requirements from the CBI, and relevant European regulators (e.g., EIOPA).
• Provide legal advice on Irish corporate, insurance, and financial services laws as they pertain to captive (re)insurance operations, ensuring that the clients’ practices and products comply with relevant Irish and EIOPA regulations.

• Participate, as required, in tracking and assessing emerging regulation and guidance, including communication of requirements to relevant business functions (horizon scanning).
• Oversee legal and regulatory risks, managing the clients’ exposure and advising on mitigating potential compliance issues.
• Conduct compliance assessments and gap analyses to identify areas of improvement and ensure policies and procedures remain aligned with regulatory changes.
• Develop and maintain compliance documentation and reporting structures, ensuring accurate and timely submission of required reports to regulatory authorities.
• Support operation of clients’ Governance Framework through their annual life cycle.

Reporting and Assurance

• Provide relevant stakeholders with regular reports assessing the status of compliance risk, and recommendations to promote effective compliance systems and controls.
• Accountability for reviewing performance against compliance plans and providing Key Performance Indicators.

Internal Audit and Risk Management

• Coordinate with internal audit teams to conduct periodic audits and ensure continuous monitoring of compliance frameworks, identifying any potential risks and ensuring prompt corrective actions.
• Assist in mitigating regulatory risk by providing effective compliance advice, driving knowledge sharing and the dissemination of consistent best practice standards.
• Develop and implement compliance training programs for clients to promote an awareness of compliance risks and enhance adherence to internal controls.

Qualifications and Skills:

Experience and Education

• Experience of working within the non-life (re)insurance industry in a legal firm or directly for a (re)insurance undertaking.
• Ability to hold, and experience in holding, Compliance Function (Solvency II) titles.
• Stakeholder experience in multi-functional regulatory change projects.
• Relevant experience in implementing effective regulatory risk frameworks.

• Strong academic record including: University degree, with experience in Insurance Law, Corporate Law, or Compliance Management or judged equivalent.

Skills

• Demonstrate understanding of relevant regulations e.g. CBI Regulations, Solvency II, and GDPR.
• Strong acumen in Compliance activities such as KYC, Sanctions, Fit & Proper review, and Conduct.
• Demonstrate critical analysis and decision-making skills, coupled with communication and influencing skills, and the ability to quickly build relationships and establish credibility with stakeholders.
• Experienced Compliance professional who is not afraid to provide quality advice and guidance.
• Team player, who can actively share knowledge, and support the technical and personal development of other Compliance team members.
• Fluency in English, both written and spoken. Another other European language will be beneficial.

Personal Attributes

• Honest, trustworthy, and precise in all tasks.
• Eager to take on challenges and contribute to the growth of business in Ireland and the Compliance Function in Europe.
• Enthusiastic about working in a dynamic and expanding organisation.
• Open to potential travel opportunities as needed.

What We Offer

• A challenging and rewarding role in a growing international company.
• Opportunities for professional development and career advancement.
• A supportive and collaborative work environment.

SRS Europe Limited (“SRS”), part of the world’s largest independent captive insurance management firm, provides financial reporting, regulatory compliance, and program management services to the insurance and alternative risk financing industry. We operate throughout Europe, the United States and in offshore domiciles (Barbados, Bermuda, and the Cayman Islands).

Offering an excellent salary, bonus plan, and a generous benefits package, SRS strives to provide every employee with opportunities for rewarding growth and advancement in an environment of genuine equity and inclusion. The pace is fast and demanding, but SRS's dedication to its people has established a company-wide network of colleagues committed to each other's, as well as the Company’s success.