Compliance officer in Swiss Re's retail business

Job Title: Compliance Officer
Location: Luxembourg
Company: International Reinsurance Company

Overview:

We are looking for a highly skilled and detail-oriented Compliance Officer to join our team in Luxembourg. As part of an international reinsurance company, the Compliance Officer will be responsible for ensuring the company’s adherence to local and international regulatory requirements. This key role involves developing, implementing, and managing compliance frameworks, while ensuring that the organization operates within the legal and ethical guidelines required in the reinsurance industry. The ideal candidate will have a strong background in compliance within the insurance or reinsurance sector, with knowledge of the Luxembourg regulatory environment.

Key Responsibilities:

• Regulatory Compliance: Ensure compliance with all applicable Luxembourg regulations, as well as European and international standards, including Solvency II, GDPR, AML/CFT, and other relevant regulatory frameworks.
• Develop and Implement Policies: Design, implement, and maintain compliance programs, policies, and procedures to minimize risks and ensure adherence to local and international regulations.
• Monitor Regulatory Changes: Stay up to date with changes in legislation and regulation affecting the reinsurance industry in Luxembourg and Europe, and advise management on the necessary adjustments.
• Internal Audits and Risk Assessments: Conduct regular internal audits, risk assessments, and compliance checks to identify any gaps or potential areas of concern. Report findings to senior management with recommendations for corrective action.
• Reporting and Liaison with Regulators: Prepare and submit regulatory filings and reports to the Luxembourg regulatory authorities (e.g., CSSF, CAA), and act as the primary point of contact with external regulators.
• Employee Training: Develop and deliver training programs to employees to ensure awareness and understanding of compliance issues, regulatory requirements, and company policies.
• AML and KYC Oversight: Oversee anti-money laundering (AML) and know-your-customer (KYC) processes, ensuring proper due diligence and monitoring of suspicious activities.
• Cross-Border Compliance: Ensure the company complies with regulatory requirements in other jurisdictions where it operates, advising on international compliance matters.
• Incident Management: Investigate any compliance-related incidents or breaches, and work with relevant departments to implement corrective actions and mitigation plans.
• Collaborate with Internal Teams: Work closely with legal, risk management, internal audit, and other departments to ensure a holistic approach to compliance across the organization.

Qualifications:

• Experience: 5+ years of experience in compliance, preferably within the insurance or reinsurance industry, or the financial services sector.
• Regulatory Knowledge: Strong understanding of Luxembourg’s regulatory framework, particularly regarding insurance, reinsurance, AML, and data protection regulations.
• Languages: Fluent in English (mandatory); knowledge of French or German is an asset.
• Education: Bachelor’s degree in law, finance, risk management, or a related field. A relevant compliance certification (e.g., ICA, CAMS, etc.) is a plus.
• Analytical Skills: Excellent problem-solving and analytical skills with the ability to interpret complex regulatory texts and provide practical compliance solutions.
• Attention to Detail: High level of attention to detail and accuracy in implementing and monitoring compliance processes.
• Communication Skills: Strong communication and interpersonal skills, capable of working with different teams and effectively liaising with regulators.
• Ethical Judgment: High level of integrity and ethical judgment, with a proactive approach to managing regulatory risk.

Reporting Line:

• Reports to the Head of Legal and Compliance, EMEA.