VP, Compliance

Starr Underwriting; New York (NY); On-site; USD 100,000 - 150,000; Full time

Job summary

A leading company in the insurance and reinsurance sector is seeking a Risk & Compliance professional based in New York. The role involves advising on relationships with Trading Partners, ensuring compliance, and managing various agreements. Ideal candidates will have significant (re)insurance experience along with a legal background. This position offers a competitive salary and benefits including pension and private medical care.

Benefits

Competitive salary

Pension

Holiday

Private medical care

Qualifications

• Experience in US (re)insurance broking.
• Understanding of the London Market is beneficial.
• Preferred legal experience.

Responsibilities

• Advise on Trading Partner relationships.
• Draft and manage Terms of Business Agreements.
• Ensure compliance with regulatory requirements.

Skills

Communication

Governance understanding

Financial crime prevention

Independent working

Education

Significant experience in US (re)insurance

Legal background

Job description

About the team and the job:

The role, based in New York, reports to the Global Head of Risk & Compliance, who is based in London.

Significant experience of US (re)insurance broking is required, and an understanding of the London Market would also be beneficial. Legal experience is preferred.

In summary, the role is to work closely with the Global Head of Risk & Compliance and act as the primary contact with the Global Broking Teams and the Corporate Functions, acting as a business advisor and enabler.

How you'll contribute:

Responsibilities:

• Work closely with the Broking Teams, Operations and other key stakeholders to advise upon Trading Partner relationships and assist in their onboarding and maintenance:
  • identifying the nature and type of relationship (co-broker, placing, producing etc.);
  • identifying correct counterparty;
  • conducting due diligence including dismissing of potential sanctions, enforcement and adverse media hits;
  • issuing and negotiating on correct Terms of Business Agreements (TOBAs) / (Re)Insurer Intermediary Agreement (RIA);
  • ongoing maintenance and supervision of relationships.
• Advising on and drafting of TOBAs, Non-Disclosure Agreements, Confidentiality Agreements, Transfer of Business Agreements and other related contractual or insurance documents.
• Oversight and delivery of the firm's Financial Crime Plan. Including fraud prevention and assisting the business with Trading Partner reviews. Especially with a focus on sanctions related queries.
• Responsibility for managing the firm's Conflicts of Interest Register, including leading firmwide annual attestations.
• Advising upon licensing requirements to ensure business is permitted to transact and/or place business in specific markets/jurisdictions. Ensuring compliance with all applicable regulatory regimes.
• Responsibility for third party payment approvals including ensuring the Firm's policies are followed, key stakeholders are kept up-to-date and escalation taken where required.
• Identifying and advising upon potential sanctions issues, including recognizing when issues might occur, escalating where required, providing appropriate guidance and commercial solutions in a timely and accurate manner. Liaising with business and other stakeholders to advance the matter.
• Responding to intermediary questionnaires from third parties regarding their onboarding requirements.
• Assist the Global Head of Risk & Compliance in the collation and preparation of Governance Reporting packs.
• Act as a mentor for North American based members of the Acrisure Re Risk & Compliance Team.
• Relationship Manager for third-party Compliance support in other jurisdiction, such as Bermuda, where Acrisure Re doesn't have local Compliance resource.
• Prepare, compile and collate compliance data and MI.
• Assist with the maintenance of various registers, such as Gifts & Entertainment, Complaints and others.
• Keep up to date with regulatory developments and communications.

About You:

• Significant experience of US (re)insurance broking is required
• An understanding of the London Market would also be beneficial
• Legal experience is preferred
• A desire and ability to work in a hybrid environment.
• Ability to work independently but collaboratively with a Team based in multiple jurisdictions
• Experience in financial crime prevention, including sanctions screening.
• Robust understanding of governance requirements.
• Effective verbal and written communicator.

What's in it for you?

• Competitive salary
• Pension
• Holiday
• Private medical care

About Us

Acrisure is an integrated team of insurance and reinsurance specialists who bring together vast experience and expertise gained from working in markets and sectors across the world. We develop a thorough understanding of our clients' situations and markets and create unique opportunities for innovative and ingenious solutions that deliver signature value. Acrisure London Wholesale capabilities cover all aspects of placement facilitation, namely open market, delegated authorities, MGAs and facultative reinsurance.

Acrisure Re and Acrisure London Wholesale are an Agency Partner of Acrisure LLC, providing high quality insurance and risk management services and solutions. Acrisure has grown at a rapid rate in recent years and is now one of the 10 largest insurance brokers in the world, with ambitious plans to continue growing at an accelerated and unprecedented pace. Beyond growth, Acrisure's dedication to its highly unique business model, ownership structure and entrepreneurial culture, has put us on the envious path of being the largest, most successful privately held insurance brokerage in the industry.

Our Ethos

Acrisure prides itself in achieving greatness through its people. We are a flat structure organization that see the person behind the position. It's up to you to shape your career but we provide you with every tool that we can to help you get there.

We believe teams and solutions are made stronger through different perspectives, which is why we're committed to a culture of equality, diversity and inclusion.

At Acrisure we are committed to developing our people as we believe that investing in our employees is critical not only for their individual success but the success of the organization. Through The Acrisure Academy (our learning system) we offer a variety of tailored courses and learning programs to enhance your skills and foster a culture of innovation. Additionally, we also offer ongoing professional development resources, coaching, and mentoring … by growing our people, we grow our business!

We are not partnering with agencies on any roles unless specified by the Talent Acquisition Team. Please do not send any unsolicited emails or InMail's with resumes/CV's as they will not be accepted or credited.