Who Are We?
Solid reputation, passionate people and endless opportunities. That’s Travelers. Our superior financial strength and consistent record of strong operating returns mean security for our customers – and opportunities for our employees. You will find Travelers to be full of energy and a workplace in which you truly can make a difference.
Job Category
Legal
Target Openings
1
What Is the Opportunity?
The AVP, Compliance is responsible for the overall management of compliance initiatives for Travelers Canada to ensure compliance with provincial/territorial and federal laws, regulations and related company policies. The role is responsible for designing, implementing, monitoring, reporting, and governance of regulatory compliance complaint handling, sanctions (OFAC), privacy, ethical conduct, market conduct, and regulator audits, assessments, and requests for information. This role also prepares the quarterly Compliance reports, leads Compliance projects, monitors new laws and regulations, and ensures timely compliance therewith and coordinating training and advice on compliance issues, tracking remediation of non-compliance gaps, and education and materials on compliance requirements.
What Will You Do?
Develop, direct, implement and enforce company/ business compliance and ethics strategies to ensure compliance with provincial/territorial and federal laws, regulations and related company policies.
Clarify policies and lead the education and training of all organization levels as to the requirements involved.
Engage and/or lead market conduct exams, regulatory audits or assessments, data requests, regulator surveys, and questionnaires.
Establish compliance reporting, communicate relevant market activity and or Travelers results and trends to business clients.
Oversee the reporting of findings and the proactive remediation of any non-compliance conditions found.
Provide training, advice, and consulting support to senior management in the identification of compliance issues related to operating procedures, sales practices, product development, claim handling, customer complaints, etc.
Provide direction to staff and/or business clients to ensure effective implementation of compliance initiatives.
Draft and/or influence Travelers Canada’s response to regulatory inquiries, complaints, criticisms, or alleged non-compliance violations, and where appropriate, coordinate responses with other business units or functional areas.
Review, assess, and influence responses and materials from other business partners, to ensure the information is responsive to the request and accurate and appropriate
Develop action plans in response to regulatory on-site examinations and coordinate with the Corporate Audit area to ensure effective and timely follow-through and recommend corrective action as appropriate.
Develop and maintain positive and effective collaborative relationships with provincial/territorial and federal regulatory agencies as well as internal business leaders.
Review new and revised law, regulations, bulletins, and regulatory publications applicable to Travelers Canada’s business, and keep abreast of industry/compliance trends and recommend/implement changes to internal company processes as needed.
Work with the business areas to understand the communication the impact of new or revised laws or regulations and implement changes or controls in response if required.
Oversee handling of regulatory and consumer complaints, including oversight of complaint tracking, ensuring that all complaints are responded to appropriately and in a timely manner.
Draft responses to complaints with regulators and participate in the resolution of complaints which are escalated due to sensitivity or potential regulatory exposure.
In collaboration with business partners, may assist in the identification and resolution regarding trends and root causes in compliance data to determine if changes are needed to existing training, or business processes/procedures.
Review and approve recommendations and/or corrective actions and ensure timely follow through
Represent Company on industry trade organizations and coordinate input across all business markets.
Develop and maintain understanding of provincial and/or federal regulatory climate.
Provide reports and presentations to senior management as directed by Chief Compliance Officer or Business heads
Measure and monitor compliance to internal controls and regulatory compliance.
Develop strategy and direct work relating to the identification of regulatory compliance or control/workflow gaps through various proactive risk-based compliance techniques.
Identify needs and direct the development of compliance procedures and internal protocols.
Direct research and analysis on complex regulatory issues and collaborate with the business areas to provide consultation and guidance on compliance, and regulatory issues regarding the development of new and existing products, workflows, and strategies.
Assist Corporate Audit on compliance issues pertaining to internal reviews.
Advise, consult, and conduct training and awareness programs for internal management, business lines, and functional areas on potential compliance exposures, concerns, or new laws and regulations.
What Will Our Ideal Candidate Have?
10 or more years of prior legal and/or compliance experience preferred.
Experience with Canadian federal and provincial/territorial P&C regulatory guidelines, regulations and procedures.
Project Management skills or training is also an asset.
Proven leadership and management experience.
Exceptional ability to think strategically and apply critical thinking skills.
Strong self-awareness
Excellent communication skills, both verbal and written.
Ability to communicate thoughts/designs/ideas in an unambiguous manner and adjust communication based on audience.
Ability to clearly and concisely communicate with the business.
Demonstrate willingness, cooperation, and concern for business issues.
Ability to understand business issues and priorities.
Ability to build and foster relationships with team, business and technical partners to achieve objectives.
Ability to manage time and competing priorities and provide management with accurate and timely status information.
Solid knowledge of the insurance and regulatory environment.
Strong interpersonal skills and ability to represent the company as its spokesperson.
Ability to influence and negotiate at all levels within the organization.
Leading the Business
Executes Business Strategy
Leads Change
Drives Results
Promotes Enterprise Culture
Leading Others
Attracts Top Talent
Maximizes Individual and Organizational Performance
Holds Other Accountable
Aligns Rewards
Creates and Sustains a Dynamic Workplace
Leading Self
Exhibits Courage, Conviction, and Credibility
Communicates Effectively and Influences Others
Applies Critical Thinking
Demonstrates Self-Awareness
What is a Must Have?
Juris Doctorate or equivalent International legal degree; graduate of an accredited law school.
Minimum of 7 years of prior legal and/or compliance experience.
Active license in good standing with the law society
What Is in It for You?
Health Insurance: Employees and their eligible family members – including spouses, partners, and children – are eligible for coverage from the first day of employment.
Retirement: Travelers provides a core contribution of 3% of your total eligible earnings to your Deferred Profit Sharing Plan (“DPSP”). Travelers also matches your savings plan contribution dollar-for-dollar up to 5% of base pay.
Paid Time Off: Start your career at Travelers with a minimum of 20 days Paid Time Off (“PTO”) annually, plus the opportunity to purchase additional days to allow for up to a total of 36 PTO days per year. You will also receive twelve paid company Holidays.
Wellness Program: The Travelers wellness program is comprised of tools and resources that empower you to achieve your wellness goals. In addition, our Life Balance program provides access to professional counseling services and other resources to support your daily life needs. Through Life Balance, you’re eligible for free counseling sessions with a licensed therapist.
Volunteer Encouragement: We have a deep commitment to the communities we serve and encourage our employees to get involved. Travelers has a Matching Gift and Volunteer Rewards program that enables you to give back to the charity of your choice.
Equal Employment Opportunity Statement
Travelers is an equal opportunity employer. We are committed to providing accommodation to persons with disabilities. If you require accommodation during the recruitment or interview process we will work with you to accommodate your needs.
If you are a candidate and have specific questions regarding the physical requirements of this role, please send us an email ([email protected]) so we may assist you.
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