Regional Compliance Specialist, Insurance Regulatory

FM; Johnston (RI); Hybrid; USD 103,040 - 148,100; Full time

Benefits offered by this job

Incentive plan

Generous health and well-being programs

401(k) and pension plan

Career development opportunities

Tuition reimbursement

Flexible work

Time off allowances

Job summary

An established industry player is seeking a Compliance Officer to ensure adherence to financial services regulations. This pivotal role involves supporting the drafting of compliance policies, investigating irregularities, and serving as the primary liaison for regulatory supervisors. The position offers a unique opportunity to contribute to a dynamic team while ensuring compliance with local privacy regulations and reporting to data protection authorities. Flexibility for remote work and a comprehensive benefits package make this role particularly attractive for professionals looking to make a significant impact in the insurance sector.

Qualifications

• 5+ years of experience in financial services compliance, ideally in non-life insurance.
• Experience dealing directly with insurance company regulators.

Responsibilities

• Act as primary contact for insurance regulators and respond to requests.
• Research and implement compliance and privacy rules and regulations.

Skills

Detailed knowledge of insurance company regulation

Excellent written and spoken English

Excellent communication skills

Strong IT software skills

Effective presentation skills

Ability to influence decision makers and regulators

Education

Bachelors Degree

Job description

FM is a leading property insurer of the world's largest businesses, providing more than one-third of FORTUNE 1000-size companies with engineering-based risk management and property insurance solutions. FM helps clients maintain continuity in their business operations by drawing upon state-of-the-art loss-prevention engineering and research; risk management skills and support services; tailored risk transfer capabilities; and superior financial strength. To do so, we rely on a dynamic, culturally diverse group of employees, working in more than 100 countries, in a variety of challenging roles.

Summary:
Reporting to the regional Legal Manager, this role supports regional monitoring, interpretation and understanding of relevant financial services sector rules and regulations by undertaking research and supporting the drafting of appropriate policies designed to ensure compliance with those rules and regulations for the locally regulated entities.

The role holder will be responsible for reporting to the business on compliance matters, investigating irregularities, and responding to regulatory requests. This role will be accountable to local insurance regulators and will provide a primary point of contact for regional regulatory supervisors.

This role is also responsible for ensuring compliance with local privacy regulations and reporting as necessary to local data protection authorities.

Schedule & Location:
This is a full-time exempt position based on-site in Johnston, RI. Flexibility for one remote workday per week, based on business needs. Domestic travel may be required up to 10% annually.

Responsibilities:

1. Act as the primary point of contact for the insurance regulators in the region and coordinate and respond to regulatory requests for information.
2. Research and implement relevant financial services sector, compliance and privacy rules and regulations as well as draft compliance policies.
3. Develop and implement compliance training.
4. Provide advice and support in compliance matters, including developing compliance reports.

Required Education:
Bachelors Degree

Required Work Experience:
5+ years of experience in financial services compliance, ideally gained within a non-life insurance company.
Experience in leading the assessment of insurance company conduct and behavior against applicable rules and regulations.
Experience dealing directly with insurance company regulators.

Highly Preferred Work Experience:
Multi-jurisdictional experience.

Required Skills:
Detailed knowledge of insurance company regulation, with specific understanding of conduct of business regulation.
Excellent written and spoken English.
Excellent communication skills and level of professionalism.
Strong IT software skills.
Effective presentation skills.
The ability to influence decision makers and regulators.

The hiring range for this position is $103,040 - $148,100 annually. The final salary offer will vary based on individual education, skills, and experience. The position is eligible to participate in FM’s comprehensive Total Rewards program that includes an incentive plan, generous health and well-being programs, a 401(k) and pension plan, career development opportunities, tuition reimbursement, flexible work, time off allowances and much more.