Sompo is a global specialty provider of property and casualty insurance and reinsurance. Sompo companies are wholly owned subsidiaries of Sompo Holdings, Inc., one of the largest property and casualty insurance groups in the Japanese domestic market.
Through our operating subsidiaries, Sompo International underwrites professional lines, property, aviation, marine and energy, financial and political risks, casualty and other specialty lines of insurance and reinsurance.
Sompo Holdings Inc. operates globally with offices across the United States, the United Kingdom, Continental Europe, Latin America, the Middle East and Asia.
Sompo International is driven by its core values. We place promise, trust and the commitment to protect at the centre of everything we do. Our success is built on our people and our culture of integrity, collaboration, agility and execution. We strive to deliver exceptional value to our clients and shareholders while maintaining Sompo as a trusted and desirable place to work.
Following Sompo’s recent acquisition of Aspen Insurance, the Sompo UK platform now includes multiple regulated insurance entities and a Lloyd’s presence alongside Endurance Worldwide Insurance Limited (EWIL). As the UK business continues to grow and evolve, we are seeking a highly experienced UK Head of Compliance to lead the UK Compliance function and oversee regulatory compliance across the Sompo UK platform.
This London based role carries regulatory accountability as SMF 16 (Compliance Oversight) for EWIL, Aspen UK Insurance UK Ltd, Aspen Managing Agency Limited and Aspen UK Syndicate Services Limited
The role operates on a dual reporting basis to the CEO of Sompo UK and the Group Chief Compliance Officer and forms part of the Sompo UK Executive Leadership Team.
Responsibilities include:
Regulatory Oversight and SMF Accountability
Act as SMF 16 Compliance Oversight for WIL, Aspen UK Insurance UK Ltd, Aspen Managing Agency Limited and Aspen UK Syndicate Services Limited under Senior Managers & Certification Regime
Take reasonable steps to ensure the firm complies with all applicable UK regulatory requirements
Maintain effective oversight of compliance risk across the UK business
Act as a key point of contact for UK regulators including the PRA, FCA, Lloyd's and the Financial Ombudsman Service
Support regulatory engagement, supervisory interactions and regulatory reviews
Ensure appropriate governance and documentation to demonstrate reasonable steps under SMCR
Compliance Framework and Governance
Lead and maintain the UK Compliance framework, including policies, procedures, governance structures and regulatory reporting
Provide clear and timely regulatory advice to the UK business on applicable laws, rules and regulatory expectations
Support boards and relevant governance committees through regular reporting, risk assessments and regulatory insight
Ensure compliance risks are appropriately identified, assessed, monitored and escalated
Maintain oversight of the UK regulatory calendar and regulator returns
Ensure compliance policies and procedures remain up to date and aligned with regulatory developments
Compliance Advisory
Provide strategic and practical compliance advice to the UK leadership team and business units
Support key business initiatives, new products, distribution arrangements and strategic projects from a regulatory perspective
Ensure regulatory considerations are embedded within business decision making
Monitoring, Testing and Assurance
Oversee the design and execution of the UK Compliance Monitoring Programme
Monitor the effectiveness of key controls and ensure appropriate remediation of identified issues
Provide independent second line assurance on the effectiveness of regulatory compliance arrangements
Work closely with Risk Management and Internal Audit to support a coordinated assurance framework across the organisation
Financial Crime Compliance
Oversee the UK financial crime compliance framework, including sanctions, anti-bribery and corruption and other financial crime controls
Ensure the business maintains effective systems and controls to prevent financial crime
Support regulatory reporting and escalation of financial crime risks
Conduct and Culture
Support the business in maintaining strong conduct risk management and good customer outcomes
Promote a culture of integrity, transparency and ethical behaviour across the UK organisation
Provide training and awareness programmes to support regulatory understanding across the business
Regulatory Change
Partner with Global Legal and Compliance colleagues to assess and implement regulatory developments
Ensure the UK business remains responsive to evolving regulatory expectations
Leadership
Lead and develop the UK Compliance team, fostering a culture of collaboration, professionalism and continuous improvement
Act as a trusted partner to the UK leadership team in navigating regulatory challenges
Serve as a member of the Sompo UK Executive Leadership Team, providing regulatory insight to support the organisation’s growth strategy
Experience:
Significant experience in UK insurance regulatory compliance, ideally within commercial or specialty lines insurance and the London Market
Experience operating in a Senior Management Function role (SMF16 Compliance Oversight) or equivalent senior compliance leadership role
10+ years’ experience within the UK insurance sector covering regulatory compliance and governance
Demonstrated experience engaging with UK regulators (PRA, FCA and Lloyd's) with credibility at Board and senior executive level.
Strong understanding of key compliance risk areas including conduct risk, financial crime, anti-bribery and corruption, trade sanctions and data protection
Experience in compliance risk assessment, monitoring and control effectiveness testing
Experience leading and developing compliance teams within complex international insurance organisations.
Skills and Personal Attributes :
Strong regulatory judgement and the ability to translate complex regulatory expectations into practical business guidance
Credible and confident communicator with the ability to engage effectively with regulators, boards and senior management
Collaborative leadership style aligned with Sompo’s culture and values
Strong analytical, organisational and project management capabilities
Ability to operate effectively in a fast-moving international business environment
High levels of integrity and professionalism with a strong commitment to ethical standards
Sompo UK offers a competitive compensation and benefits package commensurate with experience. Sompo UK is an equal opportunity employer committed to a diverse workforce. Visit our website at www.sompo-intl.com.
