Beazley Group
Head of North America Compliance & Regulatory Affairs
Beazley Group, West Hartford, Connecticut, United States
Overview
Job Title:
Head of North America Compliance & Regulatory Affairs
Division:
General Management - Risk & Compliance
Reports to:
As per Beazley's organisation chart
Key Relationships:
Internal:
2nd Line:
Group Chief Risk Officer; Group Head of Compliance, North America CRO, Wholesale and European platform CROs and Heads of Compliance and their teams, Group Heads of ERM, Operational Risk and Insurance Risk and their teams, Head of 2nd Line Assurance and team, Heads of Centres of Expertise (CoEs) for Financial Crime, Data Protection and Legal Risk; Business Manager to the Group CRO and team.
North America:
Chair and members of the North America Management Committee (NAMC), BICI, BAIC and BUSA Board members, Level 1/2/3 agent(s) for BIC (Beazley's Canada business), members of the North America risk committees, North America CFO North America business partners from People & Sustainability.
Group:
Group Risk and Regulatory committee members, Group, UK and EU CUOs and teams; Service Company Underwriting Management, Group Head of Corporate Governance and Company Secretary, Group Head of Operations and his SLT (Procurement, CISO, IT, UCO), Legal Counsel for Ceded Re, Group Head of Exposure Management, Group Chief People & Sustainability Officer, Group Head of Internal Audit, Product Wordings team.
External:
Connecticut Insurance Department supervisors and their senior personnel; applicable US state regulatory contacts including State Insurance Commissioners; key NAIC representatives/ senior personnel; North America Lloyd's personnel; external auditors; key external legal, consultancy and service partners.
Job Summary:
As part of the global compliance function within the 2nd Line, lead the North America compliance function to deliver an effective service that enables the business to meet regulatory expectations and supports the strategy of the North America businesses within the wider Group strategy.
FSLA Status:
Exempt
Key Responsibilities
As Head of North America Compliance
Leadership/Management
Oversee the delivery of the North America Compliance Plan, including Regulatory Engagement and Government Affairs strategy, Horizon Scanning priorities, Training focus areas, and Legal Risk objectives, all aligned to the overarching 2nd Line strategy as set by the Group Chief Risk Officer.
Work closely with the North America CRO to enable their delivery of the Risk Management agenda and all associated formal reporting.
Support the North America CRO as required to ensure the North America 2nd Line of Defence shows up as a collaborative and collegiate directorate.
Maintain relationships with key stakeholders and senior leaders across Beazley's businesses, ensuring Compliance is seen as a skilled and capable function, working with the business to enable the Group's strategy safely and cost effectively.
Maintain an effective management team and communication strategy for the North America Compliance function with regular 1:1s for direct reports, management team meetings, and whole-function touchpoints throughout the year.
Participate in and contribute to the global compliance function Senior Leadership Team.
Oversee onboarding processes and CPD/training to ensure new joiners are utilized effectively and deployed safely when working on regulatory processes.
Maintain effective development and succession plans.
Advise on, and ensure BICI, BAIC, BUSA and BIC maintain compliance with all relevant US and Canada legal and regulatory requirements and where applicable overseas licensing and legal requirements for multinational or cross-border programmes.
Ensure the North America Compliance function leadership team maintains adequate oversight of its activities to comply with regulatory processes and support sound management of the function, including:
The staffing model is aligned with business needs
North America Compliance activities are appropriate for the 2nd Line
All regulatory and product filings and reporting are prepared timely and accurately
All rate and form filings are compliant with applicable state laws
All relevant licensing requirements are known and met
Implementation and follow-through of all state and federal action alerts
Address conflicts of interest and related policies
Legal risk is managed appropriately, in collaboration with legal risk owners across the businesses
Compliance-based training of underwriters, underwriting assistants and employees as appropriate
Advise/guide on regulatory and market conduct exams
All relevant Compliance policies, guidance, registers and frameworks are maintained and accessible
Regulatory breaches are reported to local Risk committees, NAMC, Group Risk & Regulatory committee and the Board as necessary, and managed with regulators
Beazley only trades with brokers that are properly licensed and approved internally
North America-based individuals requiring Lloyd's authorisation are properly registered
Represent North America Compliance at Group committees, working groups and steering committees as required
Support the North America CRO in the discharge of their strategic, technical and reporting responsibilities as required, ensuring North American leadership and boards are aware of any US/Canada regulatory requirements that are not part of BAU
On request, represent North America Compliance at the NAMC and other North America businesses' board committees
Regulator Relations
Responsible for BAU regulator relations for North America businesses
Develop and recommend the North America Government Affairs and Regulatory Engagement strategy aligned to the wider Group strategy
Develop and maintain key relationships with senior division regulators through regular meetings and touchpoints
Manage key regulatory relationships with the Connecticut Insurance Department and other state regulators with respect to admitted and surplus lines products, including information requests, responses to exams, and managing issues
Prepare executives and stakeholders for meetings with regulators, ensuring understanding of Beazley's context and maintain a consistent communication strategy
Share regulator messaging internally to relevant stakeholders
Attend NAIC meetings representing Beazley
Act as the main local contact for US Lloyd's, aligned with UK Compliance teams
Oversee horizon scanning at federal/state levels and NAIC initiatives relevant to Beazley's NA businesses, issuing advisory bulletins as needed
Strategy
Utilise broad business knowledge to advise executives and senior management to support Beazley's goals and competitive advantages amid evolving legal and business environments
In alignment with Group CRO, assess current ways of working and identify improvements, including technology and organisational design, to ensure adequate Compliance resources
Risk
Accountable for effective management of North America Compliance-owned risks and liaison with North America CRO and Risk Management
Support the Group CRO's risk culture vision within North America and ensure Compliance culture reflects those values
Brand Champion
Build Beazley's brand with regulators and external stakeholders as a well-run and ethical company
Evaluate and participate in trade associations where beneficial
Internal Relations
Position Compliance within Beazley
Maintain close working relationships with North America Boards and Committees
Ensure regular staff communication to raise awareness of compliance issues and training
Candidate Specification Education and Qualifications
Juris Doctor (JD) Degree
Knowledge, Experience and Skills
In-depth P&C experience: knowledge of regulatory/compliance requirements in the insurance industry
Legal practice experience - essential
Thorough knowledge of state and federal laws and regulations as they apply to insurers
Cross border licensing knowledge desirable
Proven management experience
Ability to build strong relationships with diverse stakeholders
Strong business acumen: solution oriented
Understanding of Lloyd's of London model advantageous but not required
Regulator relations experience in an insurance company desirable
Aptitude and Disposition
Good at motivating others
Interested in nurturing new talent
Highest degree of integrity/discretion
Strong written and verbal communication skills
Analytical with attention to detail
Organized; ability to meet deadlines
Ability to negotiate with internal and external parties
Firm but diplomatic
Friendly and approachable
Who We Are Beazley is a specialist insurance company with over 30 years' experience helping people, communities and businesses to manage risk around the world. Our mission is to inspire our clients and people with confidence and freedom to explore, create and build – to enable businesses to thrive. Our goal is to become the highest performing sustainable specialist insurer.
Our products include cyber & tech, marine, healthcare, financial institutions and contingency; covering risks such as weather, film production or protection from deadly weapons.
Our Culture We have a diverse and collaborative culture with over 2,000 employees worldwide. Our values are Be bold, Strive for better, Do the right thing. We support flexible work, inclusion and development through networks and programs.
Beazley RACE
Beazley SHE
Beazley Proud
Beazley Wellbeing
Beazley Families
We offer internal career progression tools and development resources including Internal Pathways, iLearn, LinkedIn Learning, Mentorship, sponsorship for external qualifications, education support, and secondments.
The Rewards
Opportunity to advance your career within a growing organization
Competitive base pay with discretionary bonus
Medical, dental, and vision insurance
Company paid life and disability insurance
401(k) with 5% company match
PTO and holidays; religious holidays accommodation
Home office stipend
In-office lunch and travel reimbursement; lifestyle allowance
Parental leave up to 26 weeks
Volunteer time and flexible working policy
Salary for this role will be tailored to location and experience. The expected compensation range is
$240k - $265k
per year plus discretionary annual bonus.
Don't meet all the requirements?
Beazley is committed to diversity and inclusion. If you are excited about this role, apply even if your experience does not perfectly align with every requirement.
#J-18808-Ljbffr
Head of North America Compliance & Regulatory Affairs
Division:
General Management - Risk & Compliance
Reports to:
As per Beazley's organisation chart
Key Relationships:
Internal:
2nd Line:
Group Chief Risk Officer; Group Head of Compliance, North America CRO, Wholesale and European platform CROs and Heads of Compliance and their teams, Group Heads of ERM, Operational Risk and Insurance Risk and their teams, Head of 2nd Line Assurance and team, Heads of Centres of Expertise (CoEs) for Financial Crime, Data Protection and Legal Risk; Business Manager to the Group CRO and team.
North America:
Chair and members of the North America Management Committee (NAMC), BICI, BAIC and BUSA Board members, Level 1/2/3 agent(s) for BIC (Beazley's Canada business), members of the North America risk committees, North America CFO North America business partners from People & Sustainability.
Group:
Group Risk and Regulatory committee members, Group, UK and EU CUOs and teams; Service Company Underwriting Management, Group Head of Corporate Governance and Company Secretary, Group Head of Operations and his SLT (Procurement, CISO, IT, UCO), Legal Counsel for Ceded Re, Group Head of Exposure Management, Group Chief People & Sustainability Officer, Group Head of Internal Audit, Product Wordings team.
External:
Connecticut Insurance Department supervisors and their senior personnel; applicable US state regulatory contacts including State Insurance Commissioners; key NAIC representatives/ senior personnel; North America Lloyd's personnel; external auditors; key external legal, consultancy and service partners.
Job Summary:
As part of the global compliance function within the 2nd Line, lead the North America compliance function to deliver an effective service that enables the business to meet regulatory expectations and supports the strategy of the North America businesses within the wider Group strategy.
FSLA Status:
Exempt
Key Responsibilities
As Head of North America Compliance
Leadership/Management
Oversee the delivery of the North America Compliance Plan, including Regulatory Engagement and Government Affairs strategy, Horizon Scanning priorities, Training focus areas, and Legal Risk objectives, all aligned to the overarching 2nd Line strategy as set by the Group Chief Risk Officer.
Work closely with the North America CRO to enable their delivery of the Risk Management agenda and all associated formal reporting.
Support the North America CRO as required to ensure the North America 2nd Line of Defence shows up as a collaborative and collegiate directorate.
Maintain relationships with key stakeholders and senior leaders across Beazley's businesses, ensuring Compliance is seen as a skilled and capable function, working with the business to enable the Group's strategy safely and cost effectively.
Maintain an effective management team and communication strategy for the North America Compliance function with regular 1:1s for direct reports, management team meetings, and whole-function touchpoints throughout the year.
Participate in and contribute to the global compliance function Senior Leadership Team.
Oversee onboarding processes and CPD/training to ensure new joiners are utilized effectively and deployed safely when working on regulatory processes.
Maintain effective development and succession plans.
Advise on, and ensure BICI, BAIC, BUSA and BIC maintain compliance with all relevant US and Canada legal and regulatory requirements and where applicable overseas licensing and legal requirements for multinational or cross-border programmes.
Ensure the North America Compliance function leadership team maintains adequate oversight of its activities to comply with regulatory processes and support sound management of the function, including:
The staffing model is aligned with business needs
North America Compliance activities are appropriate for the 2nd Line
All regulatory and product filings and reporting are prepared timely and accurately
All rate and form filings are compliant with applicable state laws
All relevant licensing requirements are known and met
Implementation and follow-through of all state and federal action alerts
Address conflicts of interest and related policies
Legal risk is managed appropriately, in collaboration with legal risk owners across the businesses
Compliance-based training of underwriters, underwriting assistants and employees as appropriate
Advise/guide on regulatory and market conduct exams
All relevant Compliance policies, guidance, registers and frameworks are maintained and accessible
Regulatory breaches are reported to local Risk committees, NAMC, Group Risk & Regulatory committee and the Board as necessary, and managed with regulators
Beazley only trades with brokers that are properly licensed and approved internally
North America-based individuals requiring Lloyd's authorisation are properly registered
Represent North America Compliance at Group committees, working groups and steering committees as required
Support the North America CRO in the discharge of their strategic, technical and reporting responsibilities as required, ensuring North American leadership and boards are aware of any US/Canada regulatory requirements that are not part of BAU
On request, represent North America Compliance at the NAMC and other North America businesses' board committees
Regulator Relations
Responsible for BAU regulator relations for North America businesses
Develop and recommend the North America Government Affairs and Regulatory Engagement strategy aligned to the wider Group strategy
Develop and maintain key relationships with senior division regulators through regular meetings and touchpoints
Manage key regulatory relationships with the Connecticut Insurance Department and other state regulators with respect to admitted and surplus lines products, including information requests, responses to exams, and managing issues
Prepare executives and stakeholders for meetings with regulators, ensuring understanding of Beazley's context and maintain a consistent communication strategy
Share regulator messaging internally to relevant stakeholders
Attend NAIC meetings representing Beazley
Act as the main local contact for US Lloyd's, aligned with UK Compliance teams
Oversee horizon scanning at federal/state levels and NAIC initiatives relevant to Beazley's NA businesses, issuing advisory bulletins as needed
Strategy
Utilise broad business knowledge to advise executives and senior management to support Beazley's goals and competitive advantages amid evolving legal and business environments
In alignment with Group CRO, assess current ways of working and identify improvements, including technology and organisational design, to ensure adequate Compliance resources
Risk
Accountable for effective management of North America Compliance-owned risks and liaison with North America CRO and Risk Management
Support the Group CRO's risk culture vision within North America and ensure Compliance culture reflects those values
Brand Champion
Build Beazley's brand with regulators and external stakeholders as a well-run and ethical company
Evaluate and participate in trade associations where beneficial
Internal Relations
Position Compliance within Beazley
Maintain close working relationships with North America Boards and Committees
Ensure regular staff communication to raise awareness of compliance issues and training
Candidate Specification Education and Qualifications
Juris Doctor (JD) Degree
Knowledge, Experience and Skills
In-depth P&C experience: knowledge of regulatory/compliance requirements in the insurance industry
Legal practice experience - essential
Thorough knowledge of state and federal laws and regulations as they apply to insurers
Cross border licensing knowledge desirable
Proven management experience
Ability to build strong relationships with diverse stakeholders
Strong business acumen: solution oriented
Understanding of Lloyd's of London model advantageous but not required
Regulator relations experience in an insurance company desirable
Aptitude and Disposition
Good at motivating others
Interested in nurturing new talent
Highest degree of integrity/discretion
Strong written and verbal communication skills
Analytical with attention to detail
Organized; ability to meet deadlines
Ability to negotiate with internal and external parties
Firm but diplomatic
Friendly and approachable
Who We Are Beazley is a specialist insurance company with over 30 years' experience helping people, communities and businesses to manage risk around the world. Our mission is to inspire our clients and people with confidence and freedom to explore, create and build – to enable businesses to thrive. Our goal is to become the highest performing sustainable specialist insurer.
Our products include cyber & tech, marine, healthcare, financial institutions and contingency; covering risks such as weather, film production or protection from deadly weapons.
Our Culture We have a diverse and collaborative culture with over 2,000 employees worldwide. Our values are Be bold, Strive for better, Do the right thing. We support flexible work, inclusion and development through networks and programs.
Beazley RACE
Beazley SHE
Beazley Proud
Beazley Wellbeing
Beazley Families
We offer internal career progression tools and development resources including Internal Pathways, iLearn, LinkedIn Learning, Mentorship, sponsorship for external qualifications, education support, and secondments.
The Rewards
Opportunity to advance your career within a growing organization
Competitive base pay with discretionary bonus
Medical, dental, and vision insurance
Company paid life and disability insurance
401(k) with 5% company match
PTO and holidays; religious holidays accommodation
Home office stipend
In-office lunch and travel reimbursement; lifestyle allowance
Parental leave up to 26 weeks
Volunteer time and flexible working policy
Salary for this role will be tailored to location and experience. The expected compensation range is
$240k - $265k
per year plus discretionary annual bonus.
Don't meet all the requirements?
Beazley is committed to diversity and inclusion. If you are excited about this role, apply even if your experience does not perfectly align with every requirement.
#J-18808-Ljbffr