Head of Compliance - Reinsurance

About the role

SIG Re, a Bermuda-based Class 3A reinsurer within the Susquehanna family, is looking for a strategic, ethical and communicative Head of Compliance based in Bermuda. The role works with the Board, management and other stakeholders to make sure the compliance program and framework stay effective and meet all regulatory and other requirements.

Key responsibilities

• Keep the compliance program and framework aligned with regulatory requirements and the needs of the business, and deliver a Board-approved Annual Compliance Plan.
• Report to the Board on plan performance and ensure reporting to oversight bodies, including the Executive Committee.
• Maintain written policies, procedures and governance, and deliver internal regulatory and financial crime training.
• Support the CEO in managing the relationship with the Bermuda Monetary Authority (BMA), including horizon scanning of regulatory developments.
• Act as the Company's MLRO, run an annual financial crime risk assessment, set up sanctions processes and ensure no use of the company as a conduit for money laundering or financial crime.
• Oversee conduct risk, complaints handling and outsourced complaints handlers, and report conduct matters to the Board and Executive Committee.
• Run a monitoring framework over systems and controls, carry out compliance reviews and assurance, and work with Internal Audit and Risk Management.
• Contribute to new business due diligence, coordinate day-to-day legal advice for the Bermuda business and liaise with internal lawyers and outside counsel in Bermuda and the US.

Required profile

• Bachelor's degree in law, business, finance, accounting, risk management or a related discipline; professional compliance qualifications (ICA, CAMS, CRCM or equivalent) preferred.
• 10+ years of progressive experience in compliance or a related field within the re/insurance industry.
• Demonstrated experience engaging with regulators and managing regulatory examinations.
• Knowledge of relevant laws and standards, including the BMA Code of Conduct, CISSA and group ORSA requirements.

Required skills

• Strategic thinking and executive leadership
• Regulatory expertise and risk assessment and mitigation
• Strong communication and stakeholder management
• Independent judgment, integrity, analytical and problem-solving skills
• Policy development and implementation