Canada Life Assurance Europe plc ('CLE') has been operating in Germany since 2000 supporting over 600,000 individual customers and 35,000 employer relationships, advised by independent brokers, across unit-linked pension savings, retirement and protection solutions.Its growth strategy sees an increasing focus on the customer and broker experience, developing innovative propositions in Group Business and Retirement as well as exploring new routes to market.
With our purpose to help more people in Germany build stronger, more inclusive, and financially secure futures, CLE is authorised by the Central Bank of Ireland and regulated by the German regulator Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) for conduct of business rules. As part of the Great West Lifeco group of companies, with over 175 years of history and 40 million customers, the business employs 800 people across its Irish and German offices and while still relatively young in its business lifecycle, is already a solid contributor to the Great West Lifeco European Division earnings.
Role Overview
This role has overall responsibility for leading and managing the Compliance function within CLE, a cross-border insurance company headquartered in Ireland, selling into Germany. CLE is a subsidiary of the Great-West Lifeco Group, headquartered in Canada.
This role is highly strategic and influential, interfacing directly with senior executives across CLE. The role holder will provide compliance and regulatory risk advice that influences business decisions and strengthens strategic direction. The position is responsible for ensuring that the various functions within CLE (both in Ireland and Germany) operate in accordance with all Legal & Regulatory requirements for the firm and also with CLE's and the Group's internal Compliance related Policies and Standards. The role has responsibility for developing policy, monitoring and reporting in relation to Conduct Risk, Data Protection Risk and Anti-Money Laundering Risk for the firm, including working closely with the Compliance functions of Great-West Lifeco and Canada Life Irish Holding Company Limited (CLE's immediate parent company) on these matters.
The role provides strategic compliance leadership, mitigates regulatory risk and maintains a strong culture of integrity and ethical conduct across both the Irish and German operations of CLE and position compliance as a competitive advantage when integrated into core business practices.
This role requires exceptional interpersonal skills to build strong relationships with executive leadership and to communicate the value of compliance and management of regulatory risk as strategic enablers.
Role accountabilities
1. Reporting into the Chief Risk Officer and sitting on their Risk and Compliance top team, the role holder will be responsible for providing regulatory and compliance advice for CLE's strategic and operational agenda. This will include:
1. Being solutions focused
2. Providing constructive independent challenge
3. Finding opportunities for the Compliance Function to enable innovation, support growth and create value.
4. Supporting the establishment of any regulatory communications or authorisations required to implement the strategy.
2. The role holder will be responsible for implementing a compliance governance framework in CLE that meets all regulatory and internal group requirements. They will implement and maintain a robust compliance monitoring programme. The role holder will also be the Central Bank approved Head of Compliance (PCF-12) and Head of Anti-Money Laundering and Counter Terrorist Financing (PCF-52) for CLE. The PCF role include ensuring full compliance with all applicable regulatory requirements in Ireland (Central Bank of Ireland). Separately the role holder must ensure compliance with relevant regulations in Germany (BaFin is the primary regulator), in Canada (OSFI is the primary regulator) and EU-wide regulations (IDD, GDPR, DORA, etc.)
3. The role holder will be responsible for the effective communication on compliance topics to CLE's staff, management, Board and other stakeholders. This will include promoting a strong culture of compliance and ethical behaviour throughout the organisation. The role holder will be responsible for developing and delivering regular training programmes on regulatory developments, conduct risk and compliance policies.
4. With a dotted reporting line to the Global Chief Compliance Officer, this person will also be a member of their global top team and act as CLE's key contact point with Lifeco on compliance issues. Ensuring timely and effective implementation of group-wide compliance policies, tailoring them to local regulatory requirements.
5. The role holder will serve as the primary liaison on compliance matters to the Board Risk Committee and its Chair, providing regular reports on compliance risks, regulatory developments and significant issues. They will provide expert advice to support the Committee's oversight responsibilities. The role involves building a strong relationship with the Chair to support effective governance and informed decision making.
6. The role holder will oversee and ensure the effective operations of the CLE frameworks for key compliance risks, including data protection, privacy, anti-money laundering and conduct risk.
7. The role holder will oversee compliance in matters relating to data protection, data analytics, AI and related governance. This is particularly important as CLE seeks to increase its usage of both data analytics and AI. They will ensure strong policies and practices are in place for the ethical and lawful handling of data while also partnering with the business to successfully implement new uses of AI and data.
8. The role holder will ensure that the business maintains a good relationship with relevant regulators and is well prepared for any regulatory visit, supervisory reviews or thematic inspections. They will also ensure high quality responses to regulators as required.
9. The role holder will own and manage the conduct risk framework, embedding a strong culture of ethical behaviour, customer-centric decision making and accountability across all areas of CLE.
What you will need to be successful in the role
5. Bachelor's or master's degree in Law, Finance, Business, or a related field
6. Minimum of 10 years' experience in a senior compliance role, preferably in insurance or financial services
7. Deep knowledge of Irish and EU regulatory frameworks, ideally with practical knowledge of cross border distribution, ideally into Germany.
8. German language skill is a distinct advantage but is not a requirement.
9. Experience with interacting with senior regulators and board-level stakeholders
10. Strong leadership and interpersonal skills; capable of influencing across jurisdictions
11. Knowledge of and /or representation at Industry Association
Key competencies
12. Building and maintaining relationships
13. Communicating and influencing
14. Leadership
15. Commercial awareness
16. Risk, control and regulatory environment
Technical competencies
17. Compliance management experience in a cross-border business environment.
18. Detailed knowledge of compliance regulation impacting on CLE, in particular an ability to interpret the regulation.
Fitness & Probity:
This role is a 'pre approved controlled function' as defined by the Central Bank Reform Act 2010 Regulations 2011. Any appointment will be conditional on the company being satisfied that the appointee meets the requirements as set out in the Fitness and Probity standards issued by the Central Bank and that the appointment has been approved in writing by the Central Bank. This requires the company to complete prescribed due diligence to assess the appointee's fitness and probity. Further details on this due diligence process are available from Human Resources.
The company reserves the right to draw up a shortlist as part of the selection process. Where Agency assistance is required the Canada Life Recruitment Team will engage directly with suppliers. Unsolicited CVs / profiles supplied to Canada Life by Recruitment Agencies will not be accepted for this role.
Even if you don't see yourself reflected in every job requirement listed on the posting above, we encourage you to reach out and apply if you feel you are a good fit for the role. We are committed to creating a more equitable, inclusive and diverse company, and we strongly encourage applicants of all genders, ages, ethnicities, cultures, abilities, sexual orientation and life experiences to apply.
Canada Life Group Services is proud to be an Equal Opportunities employer. We have created an environment of inclusion and growth to help people achieve their potential, to ensure they can bring their whole selves to work and to feel valued. We celebrate diversity of thought and perspective and want all of our employees to feel valued, respected and supported. We have built a culture that promotes equality and inclusion for all of our current and future employees and strive to ensure that our behaviours, processes and practices are aligned to this culture.
If you require any accommodations during the recruitment process please contact and we will be delighted to ensure you are fully supported to be your best.
CLGS supports Equal Opportunity and is regulated by the Central Bank of Ireland
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