Come join Coverys International Insurance Company (CIIC) in leading the CIIC Compliance function, ensuring the company meets all regulatory obligations under Irish and EU law. The Head of Compliance is responsible for establishing and maintaining a robust compliance framework, advising the Board and senior management on compliance matters, and acting as the primary liaison with the Central Bank of Ireland (CBI). This role is designated as a PCF-12 and is subject to the Central Bank’s Fitness and Probity Standards. The role will also provide support for CIIC’s corporate governance regime and the operation of its Board of Directors and related Committees.
Essential Duties & Responsibilities
Carry out all duties associated with the Central Bank of Ireland requirements for Pre-Approved Control Function 12 (PCF12 Head of Compliance with responsibility for Anti-Money Laundering and Counter Terrorist Financing Legislation).
Advise the board of directors on compliance with the Solvency II regulations, Consumer Protection Code, Corporate Governance Requirements and other laws applicable in Ireland and other EU states.
Monitor and assess the possible impact of any changes to laws applicable in the State and across the EEA on the operations of the undertaking and the identification and assessment of compliance risk.
Implement a robust compliance monitoring programme and report the results to the Audit Committee on a periodic basis.
Act as the focal point for executive management and the Central Bank of Ireland on all compliance issues relevant to the Company, including for all projects that arise.
Monitor compliance with applicable statutory and regulatory requirements and relevant guidance applicable to the Company.
Support the implementation of the Individual Accountability Framework (IAF) and Senior Executive Accountability Regime (SEAR), where applicable.
Work with management to help ensure that robust compliance systems are in place, fully operational and understood by all relevant staff.
Prepare reports regularly to the Company’s Board / Risk Committee on general compliance issues and emerging trends.
Define and develop the Annual Compliance Plan in line with best practice and regulatory requirements.
Lead compliance training to promote understanding across all business levels.
Review new business activities to ensure they are assessed for compliance & potential risks.
Handle Complaints received by the company in line with the Company’s complaints procedures.
Review company policies and procedures to ensure they are compliant with local legislation, where necessary prepare or suggest amendments.
The application, maintenance and updating of the Conflict of Interest Policy, at least on an annual basis after completing a review of the Conflict of interests register and conflict mapping.
Ensure appropriate disclosure to the regulators and other interested parties where required, i.e. when a material compliance breach occurs.
Act as the Company’s Data Protection Officer, appointed by the Board, to monitor that the Company is in line with all data protection requirements as per the General Data Protection Regulations and Data Protection Act and prepare regular reports to the Board.
Undertake Corporate Governance including co-ordination of Board and committees.
Contribute to the general management of the company.
Education, Experience, Competencies & Values
Proven experience (typically 6-8+ years) in a senior compliance role within an insurance company.
Qualified as a Solicitor in Ireland is not required, but desirable.
In-depth knowledge of Irish and EU insurance regulatory frameworks, including Solvency II, the Central Bank’s Corporate Governance Code, and the Fitness and Probity regime.
Strong understanding of, and experience with, the responsibilities and expectations associated with PCF-12 or prior experience in the role.
A proven record of working within a Central Bank of Ireland regulated environment as well as knowledge of the regulatory landscape, particularly as it pertains to Freedom of Services operations across the European Economic Area.
Experience in developing, implementing, managing and monitoring corporate. compliance programs and working with code of conducts and ethical issues.
Strong understanding of a range of compliance frameworks.
Strong communication skills, both orally and in writing across all levels of management.
Ability to build successful relationships with a number of senior stakeholders and regulators.
Ability to operate effectively within a fast-paced, growing organisation.
Professional qualifications in compliance, law, risk management, or a related field (e.g., LCOI, ACOI, ICA).
Experience with the implementation of SEAR and the Individual Accountability Framework.
Familiarity with data protection, AML/CFT, and ESG-related compliance obligations.
Company secretarial experience desirable.
If you're a caring and customer focused individual who enjoys working with passionate team members, Coverys is the right company for you!
