Compliance Officer (Captive Insurance sector) Italy/Europe

Job title:

Compliance Officer (Captive Insurance sector) Italy/Europe

Company:

Strategic Risk Solutions

Job description

Compliance Officer (Captive Insurance Sector)
Company: SRS Europe and Italy S.r.l (“SRS Italy”)
Location:Italy or within SRS Europe offices in Luxembourg, France, Ireland
Job Purpose:Work within our Italian 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 captive insurance management operations in Italy and within Europe. This role is central to ensuring compliance with Italian and EU regulations (EIOPA) governing the insurance and captive management sector, with an emphasis on regulatory standards set by IVASS (the Italian Insurance Supervisory Authority), anti-money laundering (AML) laws, data privacy regulations, and related Italian 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 (re)insurer clients (“the clients”) of SRS Italy and SRS Europe:
Compliance Advice and Monitoring:

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

Top of Form
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.Powered by JazzHR

Expected salary

Location

Italia

Job date

Thu, 12 Dec 2024 08:19:29 GMT

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