Position: Senior Compliance Officer – Tokio Marine Europe  

Location : Luxembourg 

Report to : Head of Legal and Compliance – TME  

We will not accept any CVs via agencies.  

Tokio Marine HCC   

Tokio Marine HCC is a leading specialty insurance group with offices in the United States, the United Kingdom, Europe, Ireland, and other exciting locations. With the strength and stability that comes from being a member of the Tokio Marine group, and more than fifty years of growth, profitability, and stability, we offer important insurance products that most people don’t even know exist.  Our products allow our customers to take on opportunity with confidence. 

Just as we invest in our company, we invest in our employees’ careers. We provide our employees a collaborative and rewarding environment within which to gain the knowledge, skills, and experience that lead to a rewarding career.  In turn, our competitive salaries, attractive benefits, and potential for career growth allow you to take on opportunity with confidence.” 

About the role: 

The Senior Compliance Officer will support TME adhering to all relevant regulatory, legal, and compliance standards. The role involves monitoring and evaluating compliance risks, advising management on regulatory requirements, and developing internal policies and procedures to mitigate risks. The Senior Compliance Officer also plays a key role in ensuring TME’s operations and products comply with insurance regulations and ensure we maintain a proactive culture on regulatory matters. The postholder will be well-organized and proactive, providing timely advice and support on compliance and regulatory matters to the Head of Legal & Compliance and the team. In doing so, the capability to understand the business, engage with stakeholders, as well as provide high quality reporting with a strong attention to detail, will be crucial to success.  

The remit of the role covers the European markets where TME has presence and will span across the different work streams of Regulatory Compliance, such as insurance law related matters, distribution compliance, complaints management, conflict of interest, etc., excluding Financial Crime Compliance matters (money laundering, sanctions, bribery, and fraud).    

Key Responsibilities:   

Regulatory Compliance & Engagement:  

Ensure full identification and timely implementation of the TME regulatory obligations for insurance activities of our Head office in Luxembourg and TME branches, working closely with the TME Legal & Regulatory Affairs team. 

Ensure that regulatory requirements are properly understood by all business units and staff therein by way of regular training, the coordination and dissemination of relevant regulatory notifications or association circulars and assisting with the operational transposition of requirements into business procedures.  

Monitor emerging and developing local regulatory changes within the market, consultation papers and policy statements issued by relevant regulatory authorities and wider international bodies, liaising as necessary with the TME Legal & Compliance team, the TMHCCI Compliance team in the UK, on how any such developments may impact TME. 

Contribute to responses to regulators and/or external requests (e.g., KYC questionnaires) 

Policy Development and Implementation:  

Develop, update, and maintain internal compliance policies and procedures in accordance with industry standards and regulations.  

Lead training initiatives on compliance policies, procedures, and legal obligations.  

Actively promote a culture of compliance within the organization through ongoing education and communication. 

Risk Assessment and Management:   

Perform the annual TME Legal & Compliance risk assessment.  

Identify and assess potential compliance risks related to the company’s insurance products, operations, and marketing practices.  

Develop action plans to address compliance issues and implement corrective measures. 

Reporting and Documentation:  

Maintain accurate records of compliance activities, including risk assessments, audits, employee training, and regulatory communications.  

Be responsible for the coordination and preparation of compliance reports for senior management, regulatory bodies, including the Board of Directors and requests at the level of the parent companies. 

Suggest enhancement on Compliance MI and metrics and work towards increasing the effectiveness of communication.   

Stakeholder Management:  

Effectively work with different functions and teams (Claims, Underwriting, HR, third party management, Procurement, Company Secretary, etc.) to address compliance issues and raise awareness. 

Liaise with the branch managers or legal representatives and the line of business managers to improve the understanding of all the risks in the business.  

Other: 

Be responsible for the development and monitoring of the annual TME Legal & Compliance Plan, report on progress and engage with different activity owners to ensure timely implementation of all activities. 

Assist in ad-hoc projects, reviews and tasks with legal & regulatory elements.  

Complaints’ contact person of TME Branches in Belgium and the Netherlands. 

Performance Objectives:   

Keep up to date with changes in insurance regulations, provide assessments on their impact on the company’s operations and develop roadmap for their operationalisation.  

Perform a gap analysis of regulatory requirements and legal obligations applicable to Belgium and the Netherlands.  

Contribute towards the objectives and priorities as defined in the TME Legal & Compliance Plan, by way of regular status updates. 

Ensuring management reports are prepared in time and are of good quality.  

Identify and regularly interact with key stakeholders. 

Skills And Competencies Required:   

Fluent in English and French is required. 

8+ years of experience in compliance, or risk management, within the European insurance industry, preferably in general insurance. 

Excellent knowledge of European insurance regulations and compliance frameworks, and ability to operationalise such regulatory requirements. 

Demonstrate experience in Luxembourg insurance market and very good knowledge of applicable regulations.  

Strong communication skills, both written and verbal, with the ability to clearly articulate compliance policies and procedures and to communicate effectively with a wide range of stakeholders either face-to-face or virtual. 

Demonstrate a high level of problem solving and strong analytical skills to assess risks and regulatory changes. 

Ability to prioritising tasks appropriately and ensuring that agreed delivery dates are achieved. 

Experience working in a proactive way, collaborating with colleagues, following up tasks appropriately and keeping the team up to date on activities and progress. 

Demonstrate good understanding of business needs, being pragmatic and ensure a good level of partnership with the business. 

Skills And Competencies Preferred:   

Experience working in an international company. 

Proficiency in Dutch is a plus.  

Experience working with regulatory agencies in Belgium or the Netherlands. 

The Tokio Marine HCC Group of Companies offers a competitive salary and employee benefit package. We are a successful, dynamic organization experiencing rapid growth and are seeking energetic and confident individuals to join our team of professionals.  The Tokio Marine HCC Group of companies is an equal opportunity employer.  Please visit www.tmhcc.com for more information about our companies. 

In accordance with the provisions of the Luxembourg law of 23 July 2016 amending the law of 29 March 2013, candidates may be required to provide an extract from their criminal record at the end of the recruiting process. This document, issued by the authorities, must not be older than three months. Such a document will be requested with the aim of carrying out a character check on candidates, bearing in mind the area of activity of our establishment and more particularly the tasks described in the job description. 

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