Chubb is the world’s largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.
SUCCESS CRITERIA: To be successful in this role, an individual must thrive in a fast-paced environment, and work efficiently in daily partnership and communication with the Chief Compliance Officer-Canada to organize and navigate priorities that change frequently. This role requires an individual that enjoys figuring things out, developing/updating processes and tackling complexity with practicality. It also requires someone that welcomes a broad spectrum of work from complex regulatory research and providing advice and counsel, to managing regulatory and other matters that are more administrative in nature (such as regulatory filings and reporting). Accordingly, the individual should have an array of strong skills/experience including with respect to regulatory research, written analysis, strategic thinking, attention to detail, and a high level of organization to manage good internal records as well as to-do lists and trackers that change frequently.
KEY OBJECTIVES:
The AVP, Compliance Manager (“Compliance Manager”) will assist the Chief Compliance Officer – Canada (“CCO”) in fulfilling the following key objectives for the Chubb Group legal entities operating in Canada and other entities that Chubb services in Canada with respect to:
• Regulatory Compliance Management - Developing and maintaining an effective compliance program, which includes issue identification and remediation, risk assessment, providing training, monitoring and testing, compliance reporting and maintaining updates to controls in the compliance risk register;
• Regulatory Affairs – Addressing regulatory requests, exams, surveys, etc.;
• Advisory Matters – Providing regulatory advice, including on privacy and sanctions/AML/ATF matters;
• Privacy – Assisting the CCO in their role as Chief Privacy Officer in managing privacy matters;
• AML and ATF – Assisting in updating and maintaining the sanctions program;
• Governance - Assisting the CCO in their role as Corporate Secretary in managing board matters, if needed;
• Complaints – Assisting the CCO in their role as Complaints Officer in addressing escalated complaints;
• Licences & Registrations - Taking the lead in maintaining licences & registrations on a timely basis; and
• Other Matters – Assisting in other Chubb local or Global, regulatory, and industry matters.
This individual will need strong interpersonal and diplomacy skills; but more importantly, will need to be flexible and adaptable to an evolving compliance function.
MAJOR DUTIES & RESPONSIBILITIES:
The Compliance Manager will support the CCO in the following duties and responsibilities with respect to all business lines, including Claims:
• Regulatory Compliance Management - Developing and maintaining an effective compliance program - including horizon watching and communicating regulatory changes; establishing/maintaining compliance standards through policies, developing/updating procedures, developing/delivering training; raising awareness of compliance issues; identifying, investigating and addressing compliance issues by implementing controls to mitigate compliance deficiencies, and conducting/supporting compliance monitoring and testing;
• Regulatory Affairs - Addressing regulatory requests, investigations, exams, surveys, etc. – including gathering information from stakeholders as needed and assisting in preparing responses;
• Advisory Matters - Providing regulatory advice, including on privacy and sanctions/AML/ATF matters – including advising on new and existing business/claims; and reviewing contracts and policies from a regulatory compliance perspective;
• Privacy - Assisting the CCO in their role as Chief Privacy Officer in managing privacy matters - including privacy incident management, reporting and notices; and access to information requests;
• AML and ATF - Assisting in updating and maintaining the sanctions program – including reviewing and clearing sanction transaction monitoring hits related to payments, new policies and renewals;
• Governance - Assisting the CCO in their role as Corporate Secretary in managing board matters – including organizing quarterly/annual board/governance meetings, maintaining corporate records, drafting board resolutions and other board-level legal documents, taking minutes at board and other key governance meetings;
• Complaints - Assisting the CCO in their role as Complaints Officer - including by taking the lead in investigating and handling complaints;
• Licences & Registrations - Taking the lead in maintaining licences and registrations on - including staying up to date on requirements, renewing federal, provincial, and territorial insurance licenses and corporate registrations, and completing routine federal, provincial, and territorial filings; and
• Other Matters - Assisting in other Chubb local or Global, regulatory, and industry matters – including special projects, requests and initiatives.
To carry out these duties, the Compliance Manager will:
- Develop and maintain strong relationships with, and provide timely guidance and advice to, all business lines, and their management teams, including Claims;
- Maintain subscriptions to regulatory and other regulatory information sources for horizon-watching;
- Conduct trending analysis using data analytics and other reporting mechanisms to identify potential compliance issues; and
- Report and escalate regulatory, compliance or complaint issues and developments as required.
- Use AI tools available at Chubb, with a critical eye and applying professional judgement.
Qualifications
- At least 7 years’ experience in a legal/regulatory counsel or senior compliance role at a Canadian insurer or foreign insurance branch in Canada which involved deep experience in Regulatory Compliance Management, Regulatory Affairs and Advisory matters as described above;
- Strong understanding of the P&C and/or A&H insurance business;
- A lawyer licensed to practice in a province in Canada is preferred but not mandatory;
- A process-driven and practical approach to regulatory compliance risk management;
- A self-starter with a collaborative working style;
- Strong understanding of the insurance regulatory environment;
- Strong ability to monitor for compliance issues, and identify and understand “root causes” of compliance deficiencies, and recommend effective controls;
- Strong ability to develop relationships through effective communication and collaboration;
- Ability to consistently execute and deliver results;
- Ability to manage multiple projects in a dynamic development environment;
- Strong knowledge of MS Excel, PowerPoint, Word;
- Eagerness to learn and use AI in doing regulatory research, drafting, etc.; and
- Familiarity with common Compliance, Risk, and Governance management tools.
Chubb offers a competitive compensation package and comprehensive benefits package including life, health and dental, vision, a generous retirement savings plan, disability coverage, stock purchase plan, flexible spending accounts, tuition reimbursement, and business casual dress. Chubb is an equal opportunity employer and our employment decisions are made without regard to race, color, religion, age, gender, national origin, disability, handicap, marital status or any other status or condition protected by Federal and/or provincial laws, except where bona fide occupational qualifications apply.
