Compliance Executive

Job Purpose

To carry out the responsibilities of the compliance function in accordance with regulatory requirements.

Reporting line

This role will report to the Head of Compliance for Ayvens Insurance.

Board and Executive Committee Membership

None

Central Bank Controlled Functions Applicable to this Role

CF-2       Ensuring, controlling or monitoring compliance by a regulated financial service provider with its relevant obligations

Central Bank of Ireland Pre-Approval Control Function Requirements

At all such times as the Company is regulated by the Central Bank, this role is subject to the Central Bank of Ireland (CBI) Individual Accountability Framework (IAF), as well as Fitness and Probity Standards (Standards). The Standards provide that persons who are subject to the Standards must be competent and capable, act honestly, ethically and with integrity, and be financially sound.

As Controlled function role holder, it is a condition to comply with all relevant regulatory requirements, including any rules or requirements imposed by the Central Bank in relation to the conduct of persons in certain positions in regulated firms (Conduct Rules). The Conduct Rules include, without limitation, the following introduced under the Central Bank Reform Act 2010 (2010 Act):

• the Fitness and Probity Standards 2014 issued by the Central Bank under section 50 of the 2010 Act (F&P Standards);
• the Common Conduct Standards, under Section 53E of the 2010 Act (Common Conduct Standards); and
• the Additional Conduct Standards, under Section 53F of the 2010 Act (applicable to individuals performing a PCF, or CF1 role as designated by the Central Bank Reform Act 2010 (Section 20 and 22) Regulations 2011 as amended) (Additional Conduct Standards).

The Company is required, under Section 21 of the 2010 Act, to undertake an assessment of fitness and probity for the role under the F&P Standards at the time of hiring and at least annually thereafter, or in any other situations where the Company reasonably believes it necessary to do so.

Responsibilities will include but are not limited to:

• Assist the Head of Compliance and other team members with completion of tasks for new compliance initiatives that apply to the Company.
• Compliance risk monitoring: assist with monitor and review existing and emerging risks as part of the risk management process in the entity and provides assurance that controls are effective and efficient.
• Work closely together with the Group Compliance Office to improve the compliance and privacy function for the Company. Work closely with the first line of the Company.
• Assist with assessment, monitoring and reporting on compliance risks and the effectiveness of controls.
• Support the embedding of awareness across the company of its regulatory compliance and privacy responsibilities.
• Assist the Head of Compliance in monitoring the Company’s compliance with regulations in each of the countries in which the Company writes insurance.
• Support the Compliance Function in the periodic review and update of compliance policies and procedures as required.
• Maintain and assist with implementation of the Company’s Compliance Monitoring Plan and conduct compliance monitoring and testing as appropriate.
• Assist with the maintenance and update the Company’s compliance registers and compliance processes.
• Attend and complete IT Security training and any other Ayvens Insurance/Ayvens Corporation training as required.
• Responsible for maintaining, updating and verifying a number of logs, tracking sheets and systems in accordance with the department guidelines.
• Such other duties as assigned by the Head of Compliance.

Knowledge & Skills

Knowledge

• Insurance knowledge or experience would be an advantage but not essential.

• Degree qualified preferably with at least 6 months experience working in a similar role.
• Comprehensive knowledge of MS Office, especially Word, PowerPoint and Excel.
• The role holder will be expected to undertake the compliance examinations of the ACOI.

Skills

• Highly organized, reliable, able to meet deadlines, self-motivated with the capacity to work autonomously, as part of a team and across teams.
• Excellent analytical skills.
• Excellent communication and inter-personal skills with commercial awareness.
• Excellent report writing skills and attention to detail.
• Strong time management and organisational skills, and ability to prioritise and multi-task and work within tight deadlines.
• High standard of written and spoken English required to communicate effectively to stakeholders at all levels.
•  Strong administrative and organisational skills.

Ayvens Insurance is an equal opportunities employer.