Head of Legal, Risk and Compliance job at AAR Insurance | Apply Now

• Advise on Compliance Related Legislation affecting the respective AHSU.

Compliance

• Coordinate the implementation of the Insurance Regulatory Authority recommendations across the business.

• Maintain an up to date inventory of IRA Circulars.

• In line with the compliance monitoring plan, monitor compliance with legal and regulatory requirements and mandates in order to identify further areas of improvement and detect significant unlawful practices and compliance breaches and exposures.

• Conduct quarterly tests to assess the extent of compliance with the legal and regulatory requirements.

• Develop a compliance plan/programme and monitor its performance on a continuing basis.

• Assist in filling and monitoring regulatory returns including IRA returns, Company returns.

• Stakeholder engagement and management i.e regulatory bodies, board members, senior management etc.

Risk management

• Develop and maintain a risk management strategy for AHSU.

• Develop and implement systems, policies and procedures for the identification, collection, and analysis of risk related information.

• Carry out comprehensive risk assessments across the business & functional areas in line with the risk management framework.

LEGAL ADVISORY

• Review & provide legal advice on contracts, MOUs and other documents.

• Review and update policy documents or any other legal binding documents in relation to the company’s business.

Preparation of Board reports.

• Legal advisory to the Senior Management and the Company at Large both at the operational and strategic levels.

• Carrying out regular assessments of key Legal risks and advice on the mitigating facts.

• Complaints management for internal and external Complaints.

• Hold regular training on key legal and regulatory obligations particularly for employees in positions of high responsibility or who are involved in high risk activities and strict vetting of staff as stipulated by the laws and regulations and facilitating confidential reporting by employees for concerns, shortcomings or potential or actual violations in respect of insurer internal policies, legal or regulatory obligations, or ethical considerations;

• Liaise with all departments to ensure that legal risks are identified, and appropriate actions are taken.

• Provide and interpret legal information & disseminate appropriate legal requirements to all departments.

• Review progress of outstanding litigation, particular claims recovery disputes, liaise with and manage external lawyers.

AML/CFT

• Analyze Anti Money Laundering and ensure that reporting to the Financial Intelligence Authority on Large and Suspicious transactions is done accurately and appropriately within the regulatory timeframes.

• Act as the Money Laundering Control Officer for AHSU.

• Carry out investigations on all suspicious transactions.

• Provide AML training for new employees and ongoing training for all employees.

Feedback, Reporting & Escalation

• Report and resolve non-compliance with regulatory requirements.

• Immediately report material compliance related matters to your line Manager.

• Prepare weekly, monthly and quarterly compliance reports as may be required by the line manager.

• And other duties assigned to you by your supervisor.