Willis (Bermuda) Limited wishes to recruit a Compliance Officer for its Captive & Insurance Management business in Bermuda, Willis Towers Watson Management (Bermuda) Limited (WTWMBL).

Role Description

The Compliance Officer is a critical member of the WTWMBL team and manages the local element of management and co-ordination of WTWMBL policies and procedures. Within the greater WTW group, WTWMBL has a group compliance officer assigned to provide oversight, support and guidance in compliance matters, the WTWMBL Compliance Officer will also liaise with the group resource. The Compliance Officer will provide management of a compliance and risk framework that meets both WTW group standards and all local legal and regulatory requirements. In addition, the Compliance Officer will also provide guidance and training on regulatory topics as necessary. 

The Role

Support the Board of WTWMBL by managing and administering our local compliance function 

including:

▪ Identify and assess the compliance risks applicable to the business as well as proposals to mitigate these;

▪ Liaise and communicate with other WTW group compliance resources as required;

▪ Continue to develop and maintain and the company's Governance Risk and Compliance procedures and manuals;

▪ Compliance with all relevant laws and regulations imposed in Bermuda, including 

o The Insurance Manager Code of Conduct; 

o Anti-Money Laundering and Anti-Terrorism Financing (AML/ATF) regulations and legislation;

o International Sanctions laws and regulations;

o Data privacy regulations and legislation.

▪ Maintenance of various databases of information relating to compliance and governance matters;

▪ Maintenance of all documentation relating to the AML/ATF activity of WTWMBL;

▪ Discuss with the Board relevant compliance and regulatory issues;

▪ Identify new regulations applicable to the business;

▪ Liaise with relevant authorities, including the BMA;

▪ Liaise with external and internal auditors with respect to the compliance system;

▪ Assist with Compliance training 

o Identify compliance training needs within the business and assist in the implementation of relevant training. 

▪ Report outcomes 

o Provide regular updates to WTWBM management & Board of the activities of the compliance function

The successful candidate will satisfy the following minimum requirements:

 The Requirement

▪ Bachelor’s degree together with a recognized compliance certification with a minimum of ten years post-qualification experience. 

▪ Experience with the Bermuda regulatory environment including the Insurance Code of Conduct is required.

▪ Detailed knowledge of and experience with AML/ATF compliance regulations, policies and procedures is required.

▪ Superior organizational skills and project management experience are required.

▪ Excellent presentation and communication skills with a detail orientated commitment.

▪ Extensive computer experience with Microsoft Excel, Word and accounting software packages. 

Relevant expertise using Vision accounting software is preferred.

▪ Able to work under own initiative and meet tight deadlines

 

Compensation and Benefits

Base salary range and benefits information for this position are being included in accordance with requirements of local pay transparency legislation. Please note that base salaries may vary for different individuals in the same role based on several factors, including but not limited to location of the role, individual competencies, education/professional certifications, qualifications/experience, performance in the role and potential for revenue generation (Producer roles only).

Compensation

This role is also eligible for an annual short-term incentive bonus.

Company Benefits

WTW provides a competitive benefit package which includes the following (eligibility requirements apply):

Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Group Critical Illness, Life Insurance, AD&D, and Work/Life Resources (including Employee Assistance Program)Leave Benefits: Paid Holidays, Annual Paid Time Off, Short-Term Disability, Long-Term Disability, Other Leaves (e.g., Bereavement, Jury Duty, Military Leave, and Parental and Adoption Leave)Retirement Benefits: Non Contributory Pension Plan.

EOE, including disability/vets

This position will remain posted for a minimum of five business days from the date posted or until sufficient/appropriate candidate slate has been identified.