Head of Compliance - Reinsurance

Overview

About the CompanySIG Re is the Bermuda-based Class 3A reinsurer within the Susquehanna family of companies. We bring the same scientific rigor, curiosity, and analytical discipline that define Susquehanna, a global quantitative trading firm, to pricing and underwriting specialty risk. We structure and model complex, often novel exposures, and stand behind that judgment as a dependable counterparty to our cedants and brokers. Our culture is intellectually driven and highly collaborative, bringing together professionals who value evidence, clear thinking, and long-term relationships. sig.com

About the RoleBased in Bermuda we are seeking a strategic, ethical, and communicative leader as Head of Compliance to work with the Board, management, and other key stakeholders to ensure an effective compliance program and framework is always in place, is operating as intended and complies with all regulatory and other requirements.

Core Responsibilities

Ensure the Company’s compliance program and framework is compliant with regulatory requirements / expectations and reflects the needs of the business

• Develop and ensure the delivery of a Board-approved Annual Compliance Plan.
• Report to the Board on performance against the Annual Compliance Plan.
• Ensure there is appropriate reporting to oversight bodies, including the Board and Executive Committee.

Ensure there are appropriate written policies, procedures and governance in place relating to compliance

• Ensure appropriate procedures are in place to satisfy all compliance requirements.
• Assist staff with understanding regulatory requirements.
• Deliver internal regulatory training as appropriate.

Ensure that the Company’s compliance efforts take account of current and forthcoming regulatory developments

• Assist the CEO with managing the relationship with the BMA, ensuring that the Company is positioned to meet the BMA’s expectations on compliance risk, including horizon scanning and assessing regulatory developments.
• Support the business in the implementation of new regulatory requirements.
• Ensure all regulatory reporting and ad hoc regulatory requests are completed in a timely manner.

Ensure the business is not used as a conduit for money laundering or financial crime

• Act as the Company’s MLRO.
• Ensure an appropriate training program is in place for all employees in respect of financial crime.
• Conduct an annual financial crime risk assessment for presentation to the Board.
• Ensure appropriate sanctions processes are in place.

Bear responsibility for the oversight of Conduct Risk

• Provide oversight of complaints handling.
• Oversee outsourced and external complaints handlers to ensure Conduct Risk issues are mitigated.
• Ensure there is appropriate reporting of Conduct Risk matters to the Executive Committee and Board.

Ensure operations comply with regulatory requirements

• Deliver a robust and effective monitoring framework over systems and controls.
• Undertake compliance reviews and assurance engagements in accordance with the Board-agreed Annual Compliance Plan.
• Work closely with Internal Audit and Risk Management to ensure alignment across the 2nd and 3rd lines of defense.
• Contribute to the due diligence process of new business in respect of compliance matters.

Ensure the coordination and support of day-to-day legal advice for the Bermuda business

• Work with our team of internal lawyers and liaise with our outside legal counsel in both Bermuda and the US to ensure that the day-to-day requirements for legal advice in connection with the Bermuda operations are suitably addressed.

What we’re looking for

Preferred skills, experience and qualifications:

• A Bachelor’s degree in law, Business, Finance, Accounting, Risk Management or a related discipline.
• Professional compliance qualifications are preferred (ICA, CAMS, CRCM or equivalent).
• Legal qualification or advanced degree is desirable.
• 10+ years of progressive experience in compliance, or a related field gained from working within the re/insurance industry.
• Demonstrated experience engaging positively with regulators and expertly managing regulatory examinations.
• In-depth knowledge of relevant laws, regulations, and industry standards, including the BMA Code of Conduct, CISSA and group ORSA requirements.

Key Competencies:

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