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.
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.
Principle Accountabilities:
Strategy & Planning
- Develop a Legal, Risk, Compliance and Internal Audit strategy, based on organizational objectives and market characteristics
- Identify the needs and requirements of the department to fulfil the regulatory requirements of Union Assurance
- Develop and deliver the annual strategy and plan
- Establish department objectives and goals and organize, carry out, and monitor the overall functional strategy
- Formulate, advice, and coordinate all activities, manage the budget for the department’s activities to ensure that resources are allocated effectively to achieve business objectives
Legal
- Oversee the systems that ensure the company complies with all applicable codes, in addition to its legal and statutory requirement and protect the company’s brand and reputation
- Ensure policies, regulatory, or statutory changes that might affect the organization are up to date and approved by the committee, including on fraud, financing, bribery, sanctions, data protection, and other applicable regulatory regimes
- Provide legal advice to leadership regarding potential liabilities or other risks associated with new business ventures or projects
- Validate commercially and legally that all agreements are executed in the best interest of the company
Risk & Compliance
- Ensure risk management policies and procedures that are aligned with the company’s strategic objectives
- Work closely with the team to ensure that risk management considerations are integrated into business decisions and strategies
- Oversee risk assessments of new products, investments, and other business activities, and provide guidance to the business on risk mitigation strategies
- Facilitate development and update of internal policies and manuals periodically related to compliance, AML & CDD requirements and review various internal policies related to compliance & controls developed by cross functional teams and recommend improvements
Internal Audit
- Oversee the management of internal audit executed by outsourced internal auditors
- Guide the improvement of the processes & systems critical in terms of improving control environment and ensuring compliance basis the thorough understanding of all critical processes in the organization
People Management
- Provide leadership to the team to drive innovation, collaboration, and data-driven decision making
- Guide and monitor performance to ensure productive and professional delivery
- Lead the process for talent management, succession planning, R&R , mentoring and coaching employees
- Identify key improvement and capability enhancement opportunities in the team
Qualifications and Experience
- Bachelor’s in finance with advanced knowledge of risk, controls, accounting
- Law degree from a recognized university would be a plus
- 15-18 years of relevant experience with at least 5 years of leadership/senior management experience in life insurance domain
- Experience in assurance, controls, and/or corporate compliance-related experience, including auditing, risk management or operational roles within various industries
The selected candidate for the above position will be entitled to an attractive remuneration package. Applicants who are interested are encouraged to apply on or before 16th October 2023.
Closing Date: 2023/10/16