Head of Compliance

About you and the role:

Responsibility for the leadership, co-ordination and oversight of the compliance function for Enstar’s regulated entities in the US. Develops and maintains procedures which ensure regulatory, legal and policy compliance in accordance with applicable NAIC (National Association of Insurance Commissioners) and state statutes, regulations, and guidance.

This role is a key senior management position within the Group Compliance Team and requires the ability to work collaboratively in a matrixed compliance function. This includes working closely with the Head of Compliance Operations, the Head of/Manager of Financial Crime Prevention, and the Group Head of Compliance Assurance. The role works closely with the US Legal team and supports the US Executive team in maintaining state regulatory relations.

The role is also responsible for oversight of the Bermuda Compliance Officer.

What you will be doing:

• Responsible for the US Compliance Universe (e.g., applicable federal and state laws and regulations) and ensuring that they are appropriately reflected within the Group Governance Risk and Compliance (GRC) tool with appropriate policies and procedures in place.
• Actively promote and instill awareness of all Group and US regulatory requirements, including conduct, within the business.
• Support the US business wide Horizon Scanning process including proactive monitoring of regulatory and legal developments in close coordination with the US Legal team.
• Where new and changing regulations and laws are idexntified, lead the provision of impact assessments, ‘GAP’ analysis and guidance notes on any consultation papers through to final implemented guidelines.
• Ensure that where there are changes identified which are implemented at a Group level, support the communication with US stakeholders, overall roll-out and US implementation. Work closely with the Group Change Management team as required.
• Responsible for management and oversight of all US regulatory filings within the Group GRC tool, reporting, managing and ensuring that all are identified and submitted on a timely basis. This involves close collaboration with the US Legal team.
• Oversight and responsibility for triennial insurance exams and other reviews/audits by regulators as they occur.
• Ensure remediation plans are in place where appropriate and any deficiencies followed up and resolved.
• Support an annual business wide Compliance Risk Assessment (CRA) process for all US entities. The purpose of the CRA is to have a clearly articulated Company Risk Profile (for all regulated and non-regulated) entities, which identifies and measures the associated compliance risk. The CRA supports development and implementation strategies for mitigating material compliance risks (Supports Group Supervision Rules 2011). The CRA includes a risk profile, outlining the purpose, financial condition and performance of each entity to be able to understand the compliance risk profile. Work alongside the other jurisdictional Heads of Compliance to ensure that these risk assessments are conducted in a consistent manner.
• Provide advice to the business on corporate policies, procedures, codes and frameworks, which supports the compliance risk management framework. Identify where training needs are relevant and work in conjunction with Compliance Operations to deliver a robust compliance training program.
• Support the Group wide ERM framework and the mechanism for staff to report (confidentially) any operational incidents, including compliance deficiencies or breaches.
• Responsible for regular communications to the US Executive and Boards, Risk Committee or other governance body on all compliance matters.
• Responsible for ensuring that all Compliance and Regulatory Risks are appropriately captured within the GRC tool and that all applicable compliance and regulatory controls are operating effectively.
• Ability to lead, coach and develop other compliance professionals, both directly and indirectly as part of the Compliance Senior Management Team. Actively encourage and promote the benefits of continuous learning and professional development.
• Close interaction and collaboration with the Head of Compliance Operations, Financial Crime Prevention pillar, and Group Head of Compliance Assurance.
• Contribute compliance and regulatory considerations for potential acquisitions and other transactions.
• Manage the compliance and regulatory integration of acquired business/portfolios into the compliance framework.
• Develop and maintain strong working relationships with Risk Management, Internal Audit, Operations, Claims, Legal, Finance, and other relevant key stakeholders.
• Respond to ad hoc Compliance queries as appropriate.

In addition to the key responsibilities, you may be required to undertake other duties from time to time as the Company may reasonably require.

Fitness & Propriety:

• Carry-out duties in accordance with internal policies and procedures and applicable laws, rules, regulation, good governance and Enstar’s shared values, including putting clients at the heart of our business.
• Act with integrity.
• Act with due skill, care, and diligence.
• Be open and co-operative with all regulators.
• Take reasonable steps to ensure that the business of the firm for which you are responsible is monitored and controlled effectively.
• Take reasonable steps to ensure that the business of the firm for which you are responsible complies with the relevant requirements and standards of the US regulatory system.
• Take reasonable steps to ensure that any delegation of your responsibilities is to an appropriate person and that you oversee the discharge of the delegated responsibility effectively.
• Disclose appropriately any information of which the regulators would reasonably expect to have notice.
• When exercising your responsibilities, you must pay due regard to the interests of current and potential future policyholders in ensuring the provision by the firm of an appropriate degree of protection for their insured benefits.

What you will bring:

• 7+ years’ legal and compliance experience working in the insurance and/or reinsurance industry with a combination of in-house and law firm experience is strongly preferred.
• Law degree (JD) from a law school accredited by the American Bar Association and a member currently in good standing of the bar in at least one U.S. state.
• Excellent oral and written communication skills, including previous evidence of preparing presentations and board reports, appropriate and relative to the recipient audience.
• Demonstrate ability to build strong partnering relationships with a wider range of stakeholders and to challenge, negotiate with, influence, and persuade stakeholders at all levels
• Complex business/regulatory issue or problem analysis and resolution skills; strong managerial, communications, analytical, organisational, project management and problem-solving skills.
• Strong knowledge of assigned businesses, products, operations, systems, and organisation.

Who we are:

Enstar Group Limited (“Enstar” or “EGL”) is a leading global insurance group. Through our network of group companies, we help others – principally other insurance companies – release capital by taking over liability portfolios which no longer make strategic sense for them to hold. We create value by better managing these “run-off” insurance portfolios and strive to generate attractive risk-adjusted returns from our investment portfolio.

At year-end 2023 we had completed 117 transactions since the 2000. Today, Enstar is the industry’s largest standalone run-off consolidator. With around 800 global employees, our network of group companies has a significant physical presence in Bermuda, where our headquarters are located, the United States, the United Kingdom, continental Europe, and Australia.

For further information about us, visit www.enstargroup.com.

Your Benefits:

• Best-in-class bundled Medical, Dental, and Vision healthcare for single and family coverage.
• Board-certified doctors and pediatricians available virtually 24/7 for urgent care.
• Access to Health Savings Account (HSA) or Flexible Spending Account (FSA).
• Access to Dependent Care FSA to cover day care expenses.
• Access to Employee Assistance Programs (EAP)
• Optional Pet & Home/Auto Insurance.
• Wellness Reimbursement (up to $600 annual wellness related expenses)
• 401K retirement plant (up to 6% matched employee contribution).
• Employee Stock Purchase Program.
• One paid annual volunteer day.

General Info

The target base salary pay range for this role is $145,000 - $175,000.

*Target full-time equivalent base salary range is based on relevant market data. The actual salary offered will depend on applicable market data for hiring location and relevant candidate knowledge, skills/experience. This salary range is not inclusive of applicable discretionary incentives.

Our Values:

ENTREPRENEURIAL

NIMBLE

SOLUTIONS FOCUSED

TEAMWORK

AWARE

RELEVANT

Equal Opportunities at Enstar:

At Enstar, we value all types of diversity. We’re an equal opportunity employer and believe our diversity creates an authentic working culture. We don’t discriminate on the basis of age, physical or mental disability, gender reassignment, marriage and civil partnership, pregnancy and carer status, race (including color, nationality, and ethnic or national origin), religion or belief, sex and sexual orientation. Enstar is committed in providing an accessible recruitment experience for all those interested in working with us. Please let your Enstar Recruitment Partner know if you require any reasonable accommodation during the application process due to a disability to enable you to fully participate in our recruitment process.