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Chief Legal and Compliance Officer – Union Assurance Vacancies 2021

Chief Legal and Compliance Officer - Union Assurance Vacancies 2021

Closing Date: 2021-06-10

Chief Legal and Compliance Officer – Union Assurance Vacancies 2021

Chief Legal and Compliance Officer

Union Assurance is a leading corporate and the fastest growing entity in the Life Insurance industry backed by the strength and stability of John Keells Holdings PLC, one of Sri Lanka’s largest conglomerates. For the 9th consecutive year, the company has received the GPTW certification as a ‘Best Employer Brand,’ and in 2020 was awarded the ‘Global Employer Brand’ by the World HRD Congress.

Standing on a cornerstone of protecting the lives of Sri Lankans for more than 33 years, Union Assurance has won the hearts of its customers and employees alike with its integrity and professionalism. Its method of operation is based on accepting and embracing values and acting with social responsibility

The Job Role:

A unique opportunity exists for a Senior Legal Professional to join the team as the Chief Legal and Compliance Officer who will operate in a fast paced and challenging business environment. The overall expertise of the incumbent will ensure that all legal and compliance duties are carried out smoothly and effectively.

Key Responsibilities:

Establishing Legal Compliance Frame Work:

  • Liaising with regulator on existing regulations and seeking clarifications, representing the Company
  • Monitoring new regulations, monitoring developments in the industry, bench marking international standards, preparing position papers and lobbying with regulator where required.
  • Emerging Regulatory Developments: review emerging regulatory trends and developments. Assessing with the business the impact of the emerging regulatory development agreeing with the business on the mechanism for responding to regulatory development
  • Representing the Company on legal dealings with the regulator
  • Establishing and monitoring a compliance framework on legal and risk compliance. Conducting sample checks / reviews as part of the compliance review program to gain assurance over all relevant aspects.
  • Regulatory Change Management: Review and implementation action plans together with the business on regulatory change
  • Ensure quality, accuracy, timely and appropriateness of any regulatory compliance submissions.  Provide compliance certifications to the BACC as required.
  • Ensure the compliance reporting process from branch level to company level is managed efficiently
  • Initiate/support the business to ensure that the business operates in line with regulatory requirements
  • Responsibility for Legal advice to the senior leadership
  • Assisting with Product Development

Legal Agreements – Responsibility for all legal agreements

  • Ensuring risks are covered by reassurance and wording of reassurance contracts
  • Input into policy wording Advise on new policy conditions/ endorsements if and when introduced
  • Overlooking the function of drafting lease agreements, other agreements / MOUs, including staff loan agreements
  • Providing guidance and legal input if and when required to HR on labour related legislation.  Providing legal advice to SFA department in conducting inquiries on disciplinary actions

Litigation – work with Group Legal in managing disputes resolution and claims

  • Coordinating/Assisting in litigations, court cases, police inquiries etc. with Group Legal

Prerequisites:

  • Attorney-at-law/Notary Public (license to practice in English is required and additional Sinhala license will be an advantage)
  • Bachelor’s Degree in Law/ LLM (an added advantage)
  • A minimum of 8-10 years of work experience in compliance roles in the financial services industry preferably within the Life Insurance industry
  • Sound understanding of Compliance activities in Financial Services
  • Experience of developing and managing compliance monitoring programmes
  • Articulate, effective communication skills with the ability to communicate internally and externally
  • High level of determination and tenacity

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Source : DailyNews

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