European Senior Regulatory Counsel

General:

Job Description & Person Specification

Division: General Management – Compliance

Key Relationships:

Internal functions and local regulatory and tax authorities, outside legal counsel, network partners, suppliers, Brokers and external conduct bodies.

Job Summary:

Support on cross-border, international compliance, claims compliance and global programmes matters.

This role requires detailed knowledge and a proven track record of working within German and Swiss legislative and regulatory regimes. It also requires experience in the application of regulatory licences across multiple jurisdictions both within and outside of Europe.

• Deliver German and Swiss regulatory and compliance advisory activities for the German and Swiss branch.
• Act as point of escalation for all German and Swiss regulatory and advisory matters globally. including:
• Providing support to the German and Swiss teams on technical compliance matters including but not limited to NDAs, TOBAs, licencing, tax.
• Leading the review of Swiss based insurance contracts to ensure the Swiss branch is operating within its licencing criteria
• Support from a legal perspective, as appropriate.
• Lead on regulatory applications across multiple jurisdictions in an efficient manner.
• Support and advance Beazley’s licensing framework, working in partnership with the Global Programmes team to enable Beazley to write global programmes and provide effective cross border insurance and reinsurance solutions to its customers.

Strategy:

• Support the European Head of Compliance in advising the board and executive on compliance advisory to help achieve European goals and support in developing competitive advantages.

Regulator relations:

• Lead on interactions with BaFIN and FINMA with regards to BIdac’s German and Swiss branches and report to regulatory agencies, as required
• Support the Head of European Compliance, Group Head of Compliance and senior leadership team (SLT) in maintaining strong and effective relationships with key regulators
• Lead and oversee horizon scanning in relation to German, Swiss and global programmes, keeping abreast of related key regulatory and legislative changes which may impact on Beazley’s businesses
• Provide oversight, support and coordinate relevant regulatory reviews
• Attend meetings with external regulators and other key stakeholders as required

Internal relations/communication:

• Support the European Head of Compliance, Group Head of Compliance and SLT in managing internal and external relationships on BIdac Swiss and German related topics and others as relevant
• Play a key role to ensure Compliance is appropriately positioned within the group
• Ensure close understanding of the group’s business objectives
• Effectively build partnerships with internal ‘customers’. Maintain a close working relationship with the executive management and the business.
• Inform and advise management and affected company business areas on new and forthcoming regulations and legislation etc. and develop strategic feedback to Beazley’s trade associations for lobbying purposes as required.
• Prepare internal reporting, highlighting regulatory requirements, changes and details of work undertaken during the period.
• Provide strategic-level advisory compliance expertise to senior management
• Prepare white papers and policy briefings as required.
• Attend key management or executive meetings as required.

Risk:

• Ensure Beazley defines and acts within defined regulatory risk appetite
• Manage owned risks effectively, liaising with Risk Management to maintain and communicate up-to-date risk information regarding changes in existing and new risks, as well as significant control failings/weaknesses or events that may arise.

Brand champion:

• Build Beazley’s brand with all relevant group regulators (including PRA and FCA, Lloyd’s, CBI and Connecticut Department of Insurance) and other relevant global regulators and rating agencies as a well-run and ethical group.
• Evaluate to what extent membership in various key trade associations would be beneficial to the group, and actively participate in trade/industry association meetings and political events as needed.

General:

• Contribute to deliver business as usual European compliance activities, where relevant, including updates to the compliance framework and related policies and procedures, reporting to relevant committees and boards, provide direction and guidance to others within the European Compliance team, support on 2nd line or internal audit reviews, provide training to underwriters, claims and other staff, etc.

It is important that within all your interactions both internally and externally you adhere to Beazley’s core values - Being Bold, Striving for Better, and Doing the Right Thing – as they contribute to an internal environment of teamwork and promote a positive brand image and experience to our external customers. We also expect Beazley employees to:

• Comply with Beazley procedures, policies and regulations including the code of conduct, which incorporates the PRA and FCA Conduct.
• Undertake training on Beazley policies and procedures as delivered by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) either directly, via e-learning or the learning management system.
• Display business ethics that uphold the interests of all our customers.
• Ensure all interactions with customers are focused on delivering a fair outcome, including having the right products for their needs.
• Comply with any specific responsibilities necessary for your role as outlined by your line manager, the Culture & People or assurance teams (compliance, risk, internal audit) and ensure you keep up to date with developments in these areas. This may include, amongst others, Beazley’s underwriting control standards, Beazley’s claims control standards, other Beazley standards and customer relationship management.
• Carry out additional responsibilities as individually notified, either through your objectives or through the learning management system. These may include membership of any Beazley committees or working groups.

Personal Specification:

Qualifications:

• Degree-level educated including a legal qualification

Knowledge & Experience:

• In-depth understanding and experience working in the insurance industry within the German and Swiss regulatory environment
• Detailed understanding of German and Swiss law and regulation standards. Experience working with BaFIN and in particular FINMA standards and requirements. Practical experience of reviewing insurance contracts with regard to licencing criteria.
• Extensive regulator relations experience in an insurance-related company/organisation.
• Proven record of applying for regulatory licences across multiple jurisdictions both within and outside Europe.
• Proven record of managing projects which span multiple functions and wide-ranging stakeholders.
• Experience of providing compliance and tax support to global insurance programmes
• Demonstratable practical experience in terms of EU-ESG Regulations, Distribution, business partner due diligence sanctions and trade regulations, AI/technical regulations & Cyber resilience
• Experience of transactional taxes
• Experience of leading / managing strategic change
• Knowledge of both property and casualty insurance
• Business acumen
• Knowledge and understanding of all forms of reinsurance
• Extensive legal research skills, with a focus on insurance regulatory research
• Experience of working in a global and fast paced business environment is essential

• Ability to manage expectations of senior management and key stakeholders, interacting professionally and with credibility
• Ability to build strong partnering relationships with a wide range of stakeholders
• Ability to determine, understand and analyse legal/regulatory/tax requirements and their impact on insurance contracts and business practices and plans, develop solutions
• Excellent communicator, both verbal and written
• Fluent in German and English. Other language skills desirable

• Flexible
• Energetic, enthusiastic and positive
• Self-motivated with the ability to work autonomously
• Collaborative team player
• Highest degree of integrity / discretion
• Strong written and verbal communication skills
• Analytical