Here are 1 cannabis jobs mentioning "general counsel head compliance" in May 2024, at companies like Relm Insurance Ltd., including positions such as General Counsel, Head of Compliance.
More than 30+ days
Description:
Relm Insurance Ltd. (“Relm”), based in Hamilton Bermuda, is a class IIGB insurer, regulated by the Bermuda Monetary Authority (“BMA”). We work with entrepreneurs who are pioneering new horizons in technology, digital assets, and the cannabis/alternative medicine spaces. We understand how challenging it can be to get affordable coverage and great business support, which is why our proposition to the marketplace is so critical.
We are currently seeking a General Counsel, Head of Compliance for our operations in Bermuda and overseas. This position will report directly to the CEO.
Key Duties and Responsibilities include:
Acting as the Chief Compliance Officer and Money Laundering Reporting Officer for all regulated entities in the Group and leading the Compliance function. This involves the provision of subject matter expertise on compliance and regulatory matters to all staff members, including but not limited to, anti-money laundering (AML) & anti-terrorist financing (ATF), economic sanctions, data privacy, and annual compliance assurance.
Responsible for overseeing compliance with all applicable laws and regulations, with focus on the Insurance Act 1978 and the applicable codes of conduct for each of the regulated Bermuda entities (including but not limited to the Insurance Code of Conduct, Cyber Security Code of Conduct for Insurers, and AML / ATF, Sanctions, Home office and Economic Substance requirements, etc.).
All BMA interactions (and other relationships with industry regulators) – including review of all issued updates, regulations, consultation papers etc., including involvement with the National Association of Insurance Commissioner’s (NAIC) as required, including::
- a. all the restrictions on Relm's licence (s);
- b. data protection etc. following all codes of practice to ensure adherence with PIPA;
- c. other related regulations;
- d. quarterly reporting to the Board on compliance matters.
Preparation and oversight of key compliance policies and procedures, including but not limited to AML & ATF, economic sanctions, entity due diligence, complaints, collaborate on business continuity management, and compliance framework and annual compliance assurance plan.
Responsible for ensuring documentation is in place in the form of policies, procedures and related controls in the following areas:
- a. the Compliance function as the Compliance Officer;
- b. the Privacy function ad the Privacy Officer;
- c. the transaction monitoring function as the Money Laundering Reporting Officer.
Consult and collaborate with claims, underwriting, risk, financial and legal personnel with respect to any matters related to compliance, including but not limited to AML/ATF screening requirements.
Conducting training to staff on a number of subject areas, including but not limited to AML & ATF, economic sanctions and data privacy.
Point of contact with the Bermuda Monetary Authority for any regulatory, including on-site examinations.
Deep understanding of sanctions screening software, RiskScreen and compliance assurance software packages.
Facilitating and leading sessions with other key stakeholders within the broader group to ensure best practices are implemented.
We will need to update the BMA in the coming months on a replacement Segregated Accounts Representative for Relm II (my suggestion would be that we ask Acumen to fill this role as they are currently doing this for Relm I already); and
Monitor BMA updates and proposals and provide the Board with updates on any relevant changes they can anticipate, including . Currently, Acumen does have someone who tracks this in a list, but without summaries of how it could impact business.
Assist Relm with the preparation for applying for a full digital Asset Business Act (DABA) license with the BMA, including liaising with the BMA on initial requirements under the law, providing advice on the Relm Insurance Ltd. structure
Provide oversight over various vendor and supplier relationship related to compliance and governance including relationships with accounting, advisory, and service provider businesse
Review of policies and procedures drafted and approved by the Board of Directors, including the Sanctions Policy, AML/ATF policies, etc.
Provide training on compliance matters to confirm they have been implemented and tracked to ensure that the employees are aware of the requirements.
Undergo training in RiskScreen and assume daily responsibility of this function to ensure potential insureds are screened prior to issuance of any quotes/binders and that they comply with the procedures outlined in the Sanctions Policy. This includes managing the relationship with the RiskScreen vendor and troubleshooting any issues as required.
Requirements:Qualifications, Skills, and Experience:
- Must be current practicing JD, with minimum of ten years’ experience on legal and compliance matters with first-hand knowledge of related legal and compliance matters in the insurance industry.
- Must have legal experience on Privacy law, Cyber Security and Cross Border data laws.
- Certifications including Compliance, AML, Privacy, are highly desired.
- Excellent verbal and written communication are required and the ability to interact and work independently with board of directors, key officers, stakeholders, and team.
Relm is an Equal Opportunity Employer and prohibits discrimination and harassment of any kind. All employment decisions at Relm are based on business needs, job requirements and individual qualifications, without regard to race, color, religious creed, sex, gender, gender identity, gender expression, sexual orientation, marital status, national origin, ancestry, mental and physical disability, medical condition, genetic information, military and veteran status, age, family or parental status, or any other status protected by the laws or regulations in the locations in which we operate. Relm has never and will not tolerate discrimination or harassment based on any of these characteristics.
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