ABOUT SAGICOR NORTH AMERICA
Sagicor is a leading financial services provider with over 180 years of history, which operates across the Caribbean, in the United States and Canada.
Sagicor currently operates in 19 countries and maintains a strong market position in most of the markets where it operates. Sagicor has four reporting operating segments, Sagicor Life, Sagicor Jamaica, Sagicor Life USA and Sagicor Canada.
For the last 12 months ending September 30, 2024, revenues were US$3.9 billion with assets under management of US$23 billion.
Sagicor’s objective is to be a leading insurance and financial services provider of world-class products and services to better serve its customers and other stakeholders in its markets.
Sagicor is focused on growing its business in the markets in which we operate and actively supporting the communities in which we serve. Sagicor North America is comprised of both Sagicor Canada (ivari) and Sagicor Life USA.
For the last 12 months ending September 30, 2024, revenues were US$2.7 billion with assets under management of US$52 billion.
Sagicor Canada operates under the ivari brand name in Canada and is one of Canada’s leading individual life insurance providers.
Headquartered in Toronto, with an additional office in Montreal, ivari employs 300 people with a wide range of skills and expertise. ivari provides a full range of insurance and investment products including universal life, term life, critical illness, and annuities through a national network of independent advisors.
Sagicor Life USA operates under the Sagicor Life Insurance brand name in the US, in 45 states and the District of Columbia. It has offices in Tampa, FL and Scottsdale, AZ and employs 160 people with a wide range of skills and expertise.
Sagicor Life USA provides annuity and life products focusing on pre- and post-retiree clients through independent producers and financial advisors.
At Sagicor, we aim to attract, develop, and retain a workforce as diverse as the customers we serve and the communities in which we do business.
We offer an inclusive and accessible work environment where all employees and customers feel valued, respected, and supported.
ABOUT THE ROLE
As the Vice President, Chief Compliance Officer, Sagicor North America, you are responsible for the overall leadership and direction of the compliance programs at both Sagicor Canada and Sagicor Life USA.
The Vice President, Chief Compliance Officer will take a risk-based approach to regulatory risk management by establishing and maintaining effective compliance risk management and control systems, including monitoring and reporting and by providing timely advice on relevant changes in compliance obligations.
The role requires regular reporting to Sagicor Financial Company Ltd. (the Parent Company) on the compliance programs and reporting to the Audit and Conduct Review Committee of the Board quarterly.
The following roles will report into this position: Ombudsman, Chief Anti-Money Laundering Officer (CAMLO) and Chief Privacy Officer.
This role requires a seasoned compliance professional with extensive experience within the financial services industry.
The ideal candidate will possess exceptional leadership skills, a deep understanding of our industry, and the ability to manage and improve the Regulatory Compliance Management (RCM) policy, framework, and procedures and co-lead market conduct strategy with the sales teams.
The Vice President, Chief Compliance Officer will report to the Group Chief Risk Officer and Chief Sustainability Officer of Sagicor Financial Company Ltd.
This role is based in Toronto, Canada. We are a hybrid work environment, and employees are expected to come into the office 2-3 days per week.
As the role has responsibility for US compliance operations as well, travel will be required.
RESPONSIBILITIES
Compliance Management
- Ensure the Regulatory Compliance Management (RCM) framework is designed, implemented and maintained in a manner tailored to the organization’s business activities.
- Assess the adequacy of, adherence to, and effectiveness of the organization’s controls, and opine on whether, based on the independent monitoring and testing conducted, the RCM controls are sufficiently robust to achieve compliance with the applicable regulatory and legal requirements across the organization.
- Regularly review and update compliance policies, procedures and practices to ensure they are adequate and appropriate to control regulatory compliance risks and remain applicable in light of changing circumstances.
- Manage regulatory reviews, audits, investigations, and other regulatory initiatives.
- Actively engage and maintain constructive working relationships with legal and regulatory bodies as well as industry associations on compliance-related matters, including emerging developments.
- Educate employees about compliance and regulatory requirements, including among others, market conduct and ethics.
- Collaborate with management to ensure compliance risks are adequately mitigated in all product launches and marketing materials.
- Oversee the management of the organization’s Anti-Money Laundering, Anti-Terrorist Financing, and Sanctions programs, including the organization’s obligations in supervising and reporting on money laundering activities.
- Oversee the implementation of privacy laws and regulations and the management of all privacy-related concerns and inquiries, ensuring accurate reporting and audit readiness.
- Engage directly with the Privacy Commissioner(s) to handle inquiries promptly and effectively, maintaining the highest standard of privacy compliance.
- Develop and maintain a robust and standard complaint-handling policy that adheres to regulatory obligations and meets industry standards, including overseeing the Ombuds Office.
- Report material information derived from the independent monitoring and testing to assist management in overseeing the RCM framework and the organization’s state of compliance, including reporting on compliance issues and emerging risks.
Leadership
- Foster a culture of excellence, collaboration, and professional development across the organization and within the compliance team and ensure team members are challenged and motivated.
- Promote a culture of compliance and ethical behaviour within the organization.
- Cultivate strong relationships with internal and external stakeholders, including the Senior Leadership Teams at ivari and Sagicor US, regulators in both the US and Canada and industry groups.
- Collaborate in the development and enhancement of compliance practices of the Parent Company. Ensure North American compliance practices are aligned with the Parent Company unless otherwise required by regulations.
REQUIRED KNOWLEDGE, QUALIFICATIONS, SKILLS, AND ABILITIES
- Bachelor of Laws (LLB) or JD degree or other degree with extensive compliance experience
- 15+ years of Compliance experience within Financial Services
- Must have insurance industry experience and familiarity with products, distribution, and marketing
- Proven ability to lead and inspire a high-performing compliance team
- Unwavering commitment to ethical conduct and integrity in all professional activities.
- Excellent strategy perspective and leadership skills
- Strong decision-making skills and self-sufficiency with the ability to interact with senior management and comfortable with board reporting
- Proven organizational skills with the ability to effectively manage multiple and changing priorities
- Proven ability to simplify processes and drive continuous improvements
- Excellent verbal and written communication skills
- Independent and motivated to provide advice effectively and efficiently to all staff levels in a professional, customer-focused manner to ensure resolution
- Industry Accreditations would be an asset
CHARACTERISTICS
Someone who enjoys a culture where everyone is genuinely respectful, and you can be your authentic self every day.
Your contributions and opinions are not only sought but valued. You know the importance of and live by, our core values of:
- Bringing clarity and focus to your work.
- Taking ownership and doing what you say you will.
- Remaining flexible.
- Collaborating with others.
Our commitment to inclusivity is reflected in the safeguards, policies, and commitments we have in place to remove barriers and provide equal opportunities to prospective and current employees, without discrimination.
A Human Resources representative is available to consult with applicants who require accommodation in the application or recruitment process.
Any information shared by the applicant about an accommodation will be treated as confidential. If you do require an accommodation, please email human.resources@ivari.ca.
HOW TO APPLY
To express interest in this exciting opportunity, email your cover letter and resume to:
Kelly Cline, Consultant
kcline@feldmandaxon.com