Regulatory Compliance Specialist

About Utmost International

Utmost International is a leading provider of insurance-based wealth solutions operating across the UK, Europe, Latin America, Asia, and the Middle East. Its solutions are largely based on unit-linked insurance policies, serving the needs of affluent, high net worth (HNW), and ultra-high net worth (UHNW) individuals.

 

About Utmost Luxembourg S.A.

Sitting at the crossroads of private banking, asset management, and insurance, we operate in a well-established and fast-growing division of the financial services industry. Our dynamic international team of 450+ experienced wealth structuring specialists, subject-matter and technical experts consists of 50 different nationalities, speaking over 30 languages.

 

We are a diverse and inclusive organisation driven by a values-based culture that promotes excellence, ambition, and innovation. We invest in talented teams who develop their expertise, curated through support and training, and fostered through a people centred culture. Our people truly are our greatest asset!

 

Your role – Are you ready for a challenge?

Your responsibilities will be as follows:

Regulatory Watch Management

• Daily active monitoring of regulatory changes through the websites of the local authorities -specifically regarding topics such as Conflict of Interest, Inducements, Gift & Hospitality and Whistleblowing, in jurisdictions where Utmost Luxembourg distributes its products, to ensure timely identification and implementation;
• Regular exchange with other in-house experts and stakeholders of the Group on other regulatory topics monitored by them related to topics such as Distribution, AI rules, CAA Investment rules… to ensure they are also covered by the process owned by the team, registered in the systems and so timely identified, assessed and implemented;
• Maintenance of the internal tool to track regulations of relevance since their identification until their implementation;
• Preparation of the meetings with experts/stakeholders and ExCo members, every two months or every quarter, respectively;
• Drafting the minutes of the bi-monthly/quarterly meetings.

Regulatory Compliance Monitoring Activity

• Contribute to the annual update of the Compliance Risk Assessment with the Business and follow-up of actions identified to mitigate the risk exposure of the compliance risk impacted, when needed;
• Support the annual execution of the Compliance Monitoring Plan, on the core topics, including reporting, debriefing of the testing and remediation follow-up of actions identified to address gaps, when needed;
• Support thematic reviews on emerging areas or higher risk topics, selected on annual basis, to prevent "compliance blind spots";
• Support oversight compliance monitoring on the Branches of Utmost Luxembourg;
• Participate in the maintenance of the local Registers (ex: CoI Register, Inducements Register and G&H Register).

Regulatory Compliance Framework

• Contribute to the annual update of the local Compliance Charter, Policies, Procedures and Guidelines related to Regulatory Compliance matters;
• Contribute to the annual update of training material related to Regulatory Compliance matters;

• Supervise the collection of the management information data in terms of KRIs and the regular compliance reporting to the senior management reporting on monthly and quarterly basis.

Your profile – Have you got what it takes to become our Regulatory Compliance Specialist?

• 8+ years of experience in a Compliance, Risk or Audit Function, related to the Regulatory Compliance matters within the Life Insurance sector;
• Knowledge of the Luxembourg rules and regulations or of another EU member state impacting the Life Insurance sector;
• Ability to balance legal requirements with the commercial aspects of the business;
• Excellent analytical skills with a high degree of initiative, attention to details, planning and organisational skills;
• Strong communication, presentation and influencing skills, with ability to express opinion to internal and external customers;
• Enthusiastic team player and self-motivated;
• Able to cope with pressure and tight deadlines in a fast-paced environment;
• Fluent in English; knowledge of other languages will be considered an asset.
  

As an equal opportunity employer, all qualified applicants will receive consideration for employment without regard to gender, colour, religion, sexual orientation, national origin, disability status, protected veteran status, or any other characteristic protected by law.

 

Given the sensitive nature of our business, industry sector and the role as described, the selected candidate is required to provide a criminal record (Bulletin n°3 for Luxembourgish residents). This excerpt will be kept by Utmost Luxembourg S.A. in compliance with article 8-5 (2) of the law of 23 July 2016 and for no longer than one month from the conclusion of the employment contract; otherwise, it will be destroyed without any undue delay should the candidate not be hired.

 

Utmost Luxembourg S.A. is aware of its obligations under the General Data Protection Regulation (GDPR) and is committed to processing your data securely and transparently.

 

Our Recruitment Privacy Notice is in line with GDPR and provides more information with regards to the types of data that we collect and hold on you as a job applicant, including for the performance of Background Checks.  It also sets out how we use that information, how long we keep it for and other relevant information about your data. For full details please click here Recruitment Privacy Statement

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