Head of Financial Crime

3 months ago

London, United Kingdom Tokio Marine HCC Full time

Job Title: Head of Financial Crime

Location: Aldgate, London

Direct Reports: 3

Position Type: Permanent, 35 hours per week

Hybrid: 3 days in the office, 2 days working from home

Overview:
Why Tokio Marine HCC?

Standing still is not an option in the current world of Insurance. TMHCC are one of the world’s leading Specialty Insurers. With deep expertise in our chosen lines of business, our unparalleled track record and a solid balance sheet, TMHCC evaluates and manages risk like no one else in the industry. Looking beyond profit, empowering our people and delivering on our commitments are at the core of our customer values, and so is a desire to grow and provide creative and innovative solutions to our clients.

Job Purpose:
To oversee and manage the financial crime compliance and licensing activities for Tokio Marine HCC International (‘TMHCCI’), ensuring that there is an effective compliance control framework in place to monitor, manage and mitigate the risks associated with financial crime and licensing such that TMHCCI can meet its legal and regulatory obligations. In this context, financial crime includes any matters relating to sanctions, money-laundering and terrorist financing, bribery and corruption, fraud, tax evasion and insider information and market abuse.

TMHCCI means HCC International Insurance Company plc (‘HCCII’), a UK entity, and its European subsidiary, Tokio Marine Europe S.A., a Luxembourg entity, including their respective regional and overseas branches, HCC Underwriting Agency Ltd (‘HCCUA’) and Houston Casualty Company - UK Branch (‘HCL’), both UK entities, as well as other parts of the group of companies known as TMHCCI.

Key Responsibilities:

- To support the TME AMLRO activities, as per agreed Plan and priorities.
- In conjunction with the Boards, Executive Management Teams, and Senior Compliance management teams to regularly provide guidance, input, and recommendations to strategically control and oversee the management of TMHCCI’s financial crime risk appetite.
- To oversee the production and delivery of the financial crime, advisory, monitoring and licensing activities, as per established Plan and priorities.
- To establish and maintain an effective governance and compliance control framework for the oversight and management of financial crime and licensing risks across TMHCCI, including TME, adopting a compliant, best practice and, where possible, consistent approach.
- To mitigate the risks of TMHCCI’s exposure to financial crime by executing the second line of defence controls and monitoring the effectiveness of the first line of defence controls, through the use of appropriate compliance monitoring and key performance and risk indicators.
- To ensure the completion of the annual financial crime risk assessments at business unit level, including the timely implementation of any findings, to develop a view of TMHCCI’s financial crime-related risks and control effectiveness.
- To investigate and analyse any identified suspicious activity or sanctions breaches, with onwards reporting internally and externally to supervisory and / or regulatory authorities and / law enforcement agencies, as required.
- To monitor and analyse developing legal and regulatory changes and, where required, perform an impact assessment of those changes. Subsequently, to ensure the effective implementation of associated change so that TMHCCI can continue to meet its regulatory obligations. This includes communication of such changes internally and externally to our affected third parties, as required.
- To drive organisational change necessary to manage financial crime remediating actions, including those identified by internal and external auditors.
- To liaise with the Third Party Teams to ensure that the financial crime elements for the vetting of TMHCCI Third Parties remains fit for purpose, with updates communicated as required.
- To facilitate the production of Committee papers, including an MLRO Report for TMHCCI’s UK entities, and present these papers, where required, to ensure that Executive and Senior Management Teams are appropriately informed on financial crime related matters.
- To regularly review and enhance the reporting of performance metrics and suite of management information produced for the relevant Committees.
- To manage the completion of regulatory and Lloyd’s returns, as required, and support the same for TME related returns where required, and ensure that actions arising from market thematic reviews and best practices are embedded within TMHCCI.
- To drive the compliance culture by overseeing the production and delivery of guidance and training to the business / internal stakeholders at TMHCCI on compliance with legal and regulatory rules pertaining to financial crime and licensing, and ensuring the circulation of information to key stakeholders, as appropriate.
- To provide technical advice and guidance to Executive and Senior Management to s

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