Role Purpose:
The Compliance Officer is required to assist in the development and co-ordination of the Compliance and Risk Management Function in KSA. The scope of the role includes understanding supporting the business in meeting applicable regulatory requirements, including data protection and financial crime, and to the group-wide minimum standards set out in the HBG Principles for Business. The role includes supporting the CRO for IGM & HIBL Int'l Hubs where applicable in establishing and maintaining relationships with key stakeholders including representatives of the Group, the local Executive and management team, external advisors and regulators. The jobholder will be expected to undertake other ad-hoc duties or assignments during employment based on operational requirement.
Key responsibilities:
Planning and Strategy:
- Responsible for Implementing and maintaining an effective but flexible Compliance and Risk Management Strategy and Annual Plan to ensure the on-going suitability of the Compliance and Risk Management Framework and Function, which keeps up to date with changes in regulatory expectations, as well as the Executive's strategic initiatives, growth ambitions, operational projects and innovation.
- Produce reports that provide assurance to the Executive in respect of the compliance performance and continued risk profile of the business activities. Reporting should support effective decision-making, identify trends and provide practical solutions to address issues.
- Identify upcoming changes to regulatory expectations or Group requirements and support the business in embedding proportionate policies and procedures that meet these changes.
Technical:
a) Training and Communications
- Support or manage the annual mandatory training programme to promote awareness of key regulatory matters, supports staff with meeting CPD targets (IDD, ACII etc.) and educates all employees on regulatory expectations. Ensure the training is delivered and take-up is recorded and monitored.
- Working with internal sources of expertise where appropriate e.g. HR, Training, Legal department, Internal Communications to deliver training solutions and key messages on regulatory and risk management related topics.
b) Incident Management Process:
- Maintaining the Breach and Risk Event Reporting Process including managing, overseeing and testing whistleblowing procedures
- Communicating and overseeing compliance with standards for the management of suspected incidents of non-compliance to local Senior Management.
- Support and ensuring escalation standards are followed regarding the reporting of incidents of non-compliance to the local, regional and Group governance bodies and external regulators as appropriate.
c) Key Regulatory Responsibilities:
- Addressing technical queries and providing advice, supported by external advisors where necessary, to the business on day-to-day compliance and risk management queries.
- Staying abreast of all applicable regulatory requirements (including data protection and financial crime requirements) working with key internal stakeholders as appropriate to ensure that procedures within the business are fit-for-purpose to ensure compliance.
- Drive timely and accurate submission of the regulatory notifications and other documents and responses to consultation papers and thematic reviews
- Support regulatory visits to the business and ensuring any outcomes are addressed and implemented as necessary throughout the business.
d) Key Risk Management Responsibilities
- Support in the effort of implementing and maintaining proportionate risk management (including risk register and associated control framework) in the business.
Policy, Process and Procedures:
- Assist in the drafting and creation of Compliance and Risk Management policies and procedures relevant to the regulatory and legal jurisdictions of the trading entity.
- Partners with the business leadership to find effective and efficient methods of simplifying and embedding compliance in their business processes.
Culture and Stakeholder Management:
- Partner with third parties, regulatory bodies and others as appropriate, serving as a role model for high personal and corporate ethical values and standards of integrity
- Provide essential input in credibly challenging the management of current regulatory issues, developing and integrating strategies where appropriate
- Keep informed of all legal and regulatory developments relevant to the Operating Entity/Group
- Proactively work with the legal function to support the business in managing complaints and/or legal action against the group and ensure appropriate notifications are made to professional indemnity insurers.
- Oversee routine regulatory reporting processes and ensure information is provided is timely, accurate and complete.
- Share information that could be beneficial to the Operating Entity/Group
- Proactively work with other support functions, particularly on areas that overlap between functions such as business continuity planning, market security, broking processes and managing client funds.
People Management/Personal Development:
- Support in the establishment of an enabling culture where compliance supports the business in meeting its strategic goals and promotes better decision making by advising senior management on the compliance and risk management context of decisions.
- Promote individual accountability through an ongoing performance management approach that aligns personal performance goals with the functional and wider business goals
- Actively undertake personal development to ensure up to date knowledge and understanding of best practice
Experience:
- Minimum 3-5 years of experience in compliance, regulatory, legal, audit and/or risk management role, preferably in the insurance/reinsurance broking industry, or financial services sector.
- Have a Bachelor's degree in Business/Finance/Law/Economics or equivalent
- Possessing professional certification(s) or qualification(s) related to Compliance related, Risk Management, Audit or Financial Crime would be given preference.
Qualification:
- Have a Bachelor's degree in Business/Finance/Law/Economics or equivalent
- An academic degree from a university at bachelor level or higher in addition to professional qualification(s) related to accounting or finance and other relevant certification(s) specific to this role.
What do we offer in return
A career that you define, supported by a strong commitment to technical and soft skills training.
We offer a comprehensive package of rewards and benefits - including great medical insurance, competitive salary, and more.
We provide a workplace where everyone has a voice, where volunteering in the community is part of the day job, and where everyone is encouraged to play a part towards our sustainability goals. We want people who want to make a difference - not just in the workplace, but in the industry and in the wider community.
Our culture: People First
Our core values dictate how we live and work. We are a group with independence and people at its heart and we are a home for talent with a unique culture: the biggest small company in the world.
The focus on being a People First business has always been at the very heart of the Group; Our vision was to create an independent business with a unique culture and one that would survive and thrive as a business controlled by the people working for it. And finding the most talented and entrepreneurial people to join the Group has been and will continue to be key.
Diversity & Inclusion
At HOWDEN we consider our people our chief competitive advantage and as such we treat colleagues, candidates, clients, and business partners with equality, fairness and respect, regardless of their age, disability, race, religion or belief, gender, marital status or family circumstances.
