Head of Compliance, LMI

With a company culture rooted in collaboration, expertise and innovation, we aim to promote progress and inspire our clients, employees, investors and communities to achieve their greatest potential. Our work is the catalyst that helps others achieve their goals. In short, We Enable Possibility℠.

JOB SUMMARY

The Head of Compliance is responsible for supporting the Chief Risk Officer (“CRO”) with the implementation and maintenance of the Arch LMI’s Compliance Management Framework (“CMF”). This includes preparing and maintaining policies / procedures, delivery of testing and monitoring programs, compliance reporting, developing and delivering training programs to ensure Arch effectively achieves its regulatory and business control requirements.

• Develop and Implement Compliance Programs and Frameworks: The Head of Compliance is responsible for establishing and maintaining comprehensive compliance programs and frameworks that address all relevant regulations and legal requirements.
• Regulatory Reporting: This includes preparing and submitting timely compliance reports to senior management, regulators, and relevant licensing bodies.
• Risk Management: Collaborate with risk team members to identify and assess risks across the business and support development and implementation of risk mitigation strategies.
• Audit Liaison: With internal and external audits, including liaising with auditors and regulatory bodies.
• Compliance Training and Communication: Providing training and education to employees on compliance matters and ensuring that the organisation maintains a culture of compliance.
• Policy and Procedure Development: Developing and maintaining compliance policies and procedures that align with regulatory requirements and the company's risk appetite.
• Regulatory Monitoring: Staying up to date on changes in regulatory requirements and providing guidance on their implementation.
• Collaboration: Working with other departments and external stakeholders to ensure that the organisation's compliance program is effective and efficient.
• Breach management: Lead investigations into compliance breaches or incidents in accordance with Company policies and regulatory requirements.

Knowledge & Skills

Deep experience of APRA Prudential Standards applying to general insurers and ASIC requirements for ACL and AFSL license holders.

• Ability to understand complex regulations and apply that understanding to the business.
• Demonstrated ability to deliver results in a fast-paced environment, under tight deadlines, or with competing objectives.
• Strong communication skills in written and verbal formats; ability to address broad range of audiences including senior management, external stakeholders, and technical experts.
• Ability to build credibility amongst peers and customer-service oriented.
• Strong interpersonal, organisational, and negotiation skills.
• Ability to function as member of a multi-disciplined, international team.
• Meaningful project management, planning, and decision-making experience.
• A thorough understanding of the FAR, including its various parts, clauses, and regulations, is crucial.
• Understanding of Lending Regulations: The Head of Compliance would need to have a deep understanding of regulations related to LMI.
• Regulatory Knowledge: Knowledge of other relevant federal regulations, such as those related to ethics, conflicts of interest, and procurement, is necessary.
• Analytical Skills: The ability to analyse complex data, identify potential compliance issues, and develop effective solutions is vital.
• Communication Skills: Effective written and verbal communication skills are required to convey compliance information to various stakeholders.
• Collaboration Skills: The ability to work collaboratively with different departments and stakeholders including Head of Enterprise Risk, Legal, and Finance, is essential for effective compliance.
• Problem-Solving Skills: A strong ability to identify, analyse, and support the resolution of any identified compliance matters.
• Attention to Detail: Highly detail-oriented to ensure accuracy and completeness in all compliance-related activities.
• Adaptability and Continuous Learning: The ability to adapt to new regulations and technologies, and to continuously learn and stay informed, is essential.
• Integrity and Ethics: Strong personal integrity and ethical standards are essential.

EDUCATION & EXPERIENCE

• Bachelor's Degree: Tertiary qualification required as well as a minimum of 10 years experience, including 5 years’ experience in either mortgage or insurance compliance.
• Australian Professional Certifications: Certified Compliance and Risk Professional and / or Australian Compliance Institute Certification.

Working Conditions / Environment & Physical Demands

• Sydney based.
• Standard office environment - The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations will be made to enable qualified individuals with disabilities to perform the essential functions of the job.
• Attendance / Punctuality - Is consistently at work and on time. Willing to periodically work hours to accommodate other time zones. Ensures work responsibilities are covered when absent.
• Hybrid work schedule. In-office days to be confirmed.

Disclaimer

Incumbent may be asked to perform other duties as required.

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