Head of North America Compliance & Regulatory Affairs

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:

• 2^nd 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 2^nd 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
• On an annual basis, 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 2^nd 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 2^nd 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 'can do' 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 at regular intervals throughout the year
• Participate in and contribute to the global compliance function Senior Leadership Team
• Oversee the implementation and maintenance of onboarding processes and CPD/ training than ensures new joiners are utilised 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 the sound management of the function. Specifically, ensure:
• The staffing model is aligned with business needs
• North America Compliance activities are appropriate for the 2^nd 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 made known to relevant stakeholders and met
• Implementation and follow-through of all state and federal action alert actions
• Address conflict 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 at large as appropriate
• Advise/guide on regulatory and market conduct exams
• All relevant Compliance policies, guidance, registers and frameworks are maintained and are accessible to the business
• Regulatory breaches are brought to the attention of local Risk committees, the North America Management Committee (NAMC) the Group Risk and Regulatory committee and the Board as necessary, and managed with our regulators
• Beazley only trades with brokers that are properly licensed and have been 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 that North American leadership and boards are made aware of any US and Canada state and federal legal and 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 for approval, 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 and their wider prudential, conduct, and operational expectations, including the oversight and delivery of information requests, Beazley's response to formal exams, and managing issues and developments our regulators would expect to be made aware of
• Oversee the preparation of executives and stakeholders meeting with regulators and other regulatory or industry professionals, ensuring they have a full understanding of the wider Group context, regulatory areas of focus or concern, and that Beazley maintains a consistent and well-informed communication strategy with its regulators
• Ensure that important messaging, concerns or expectations from the CID and other State regulators are circulated internally to all relevant stakeholders
• Attend all National Association of Insurance Commissioners (NAIC) meetings, representing Beazley's brand and values and working to support Beazley's business priorities
• Act as the main local relationship contact for US Lloyd's, working in close alignment with BFL's SMF16 in the UK and the UK Compliance team
• Oversee horizon scanning at federal and state levels as well as NAIC initiatives relevant to Beazley's North American businesses including the issuance of relevant advisory bulletins to key North America leaders and stakeholders on areas of importance to Beazley's strategic objectives, and to enable regulatory compliance for products and licenses including individual licenses (e.g. for Claims) where applicable
• Strategy
• Utilise a high degree of general business knowledge and judgment, including an in-depth understanding of Beazley operations, customers and plans to advise executive and senior management to help the company achieve its corporate goals and develop competitive advantages resulting from changing legal and business environments
• Working in alignment with the Group Chief Risk Officer's overarching strategy for the 2^nd Line, continuously assess current ways of working and proactively identify improvements, including through the use of technology and organisational design, to ensure optimal use of and ongoing adequacy and sufficiency of, Compliance resources.

• Risk
• Accountable for the effective management of North America Compliance-owned risks and for liaison with the North America CRO and team and wider Risk Management function in the management of risk incidents as required.
• Support the Group Chief Risk Officer's overarching vision for Risk Culture for Beazley, supporting the North America CRO to operationalise this vision and ensuring Compliance culture reflects those values.

• Brand Champion
• Build Beazley's brand with regulators and other external stakeholders as a well-run and ethical company
• Evaluate to what extent membership in various key trade associations would be beneficial to Beazley and actively participate in trade/industry association meetings

• Internal Relations
• Position Compliance appropriately within Beazley
• Maintain a close working relationship with North America Boards and Committees
• Ensure regular communication is maintained with all staff to raise awareness of compliance issues and ensure that staff are appropriately trained on regulatory matters

General

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, and all local regulatory expectations applicable to Beazley's North America businesses.
• Undertake training on Beazley policies and procedures as delivered by your line manager, the People & Sustainability 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 People & Sustainability 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.

Candidate Specification

Education and Qualifications

• Juris Doctor (JD) Degree

Knowledge, Experience and Skills

• In-depth P&C experience: extensive knowledge of regulatory / compliance requirements and of supporting the insurance industry.
• Legal practise experience - essential
• Thorough knowledge of state and federal laws and regulations as they apply to insurers
• Cross border licensing knowledge desirable
• Proven management experience
• Proven ability to build strong relationships with a wide range of stakeholders
• Strong business acumen: solution oriented
• Understanding of the Lloyd's of London model advantageous but not a pre-requisite
• Regulator relations experience in an insurance company/organisation 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 both 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 all around the world. Our mission is to inspire our clients and people with the confidence and freedom to explore, create and build - to enable businesses to thrive. Our clients want to live and work freely and fully, knowing they are benefitting from the most advanced thinking in the insurance market. Our goal is to become the highest performing sustainable specialist insurer.

Our products are wide ranging, from cyber & tech insurance to marine, healthcare, financial institutions and contingency; covering risks such as the weather, film production or protection from deadly weapons.

Our Culture

We have a wonderful mix of cultures, experiences, and backgrounds at Beazley with over 2,000 of us working around the world. Employee's diversity, experience and passion allow us to keep innovating and moving forward, delivering the best. We are proud of our family-feel culture at Beazley that empowers our staff to work from when and where they want, in an adult environment that is big on collaboration, diversity of thought and personal accountability. Our three core values inspire the way we work and how we treat our people and customers.

• Be bold
• Strive for better
• Do the right thing

Upholding these values every day has enabled us to become an innovative and responsive organization in touch with the changing world around us - our ambitious inclusion & diversity and sustainability targets are testament to this.

We are a flexible and innovative employer offering a friendly, collaborative, and inclusive working environment. We actively encourage and expect applications from all backgrounds. Our commitment to fostering a supportive and dynamic workplace ensures that every employee can thrive and contribute to our collective success.

Explore a variety of networks to assist with professional and/or personal development. Our Employee Networks include:

• Beazley RACE - Including, understanding and celebrating People of Colour
• Beazley SHE - Successful, High potential, Empowered women in insurance
• Beazley Proud - Our global LGBTQ+ community
• Beazley Wellbeing - Supporting employees with their mental wellbeing
• Beazley Families - Supporting families and parents-to-be

We encourage internal career progression at Beazley, giving you all the tools you need to drive your own career here, such as:

• Internal Pathways (helping you grow into an underwriting role)
• iLearn (our own learning & development platform)
• LinkedIn Learning
• Mentorship program
• External qualification sponsorship
• Continuing education and tuition reimbursement
• Secondment assignments

The Rewards

• The opportunity to connect and build long-lasting professional relationships while advancing your career with a growing, dynamic organization
• Attractive base compensation and discretionary performance related bonus
• Competitively priced medical, dental and vision insurance
• Company paid life, and short- and long-term disability insurance
• 401(k) plan with 5% company match and immediate vesting
• 22 days PTO (prorated for 1st calendar year of employment), 11 paid holidays per year, with the ability to flex the religious bank holidays to suit your religious beliefs
• Up to $700 reimbursement for home office setup
• Free in-office lunch, travel reimbursement for travel to office, and monthly lifestyle allowance
• Up to 26 weeks of fully paid parental leave
• Up to 2.5 days paid annually for volunteering at a charity of your choice
• Flexible working policy, trusting our employees to do what works best for them and their teams

Salary for this role will be tailored to the successful individual's location and experience. The expected compensation range for this position is $240k - $265k per year plus discretionary annual bonus.

Don't meet all the requirements? At Beazley we're committed to building a diverse, inclusive, and authentic workplace. If you're excited about this role but your experience doesn't perfectly align with every requirement and qualification in the job specification, we encourage you to apply anyway. You might just be the right candidate for this, or one of our other roles.