VP, Head of Legal and Compliance - Canada (R1981)

Sompo Canada Services Corp. is a wholly-owned subsidiary of Sompo International Holdings Ltd., a wholly-owned subsidiary of Sompo Japan Insurance Inc., and is a member of the Sompo Holdings, Inc. (Sompo) group of companies. Sompo is a financial services holding company organized under the laws of Japan whose shares are listed on the Tokyo Stock Exchange. Sompo, through various operating subsidiaries, is one of the largest property and casualty insurance groups in the Japanese domestic market. In addition, Sompo is engaged in the provision of insurance services as well as other related services through its global network of businesses operating in 32 countries around the world. Sompo International is the trade name for the global specialty property and casualty insurance and reinsurance operations of Sompo outside of Japan. In Canada, Sompo International is the brand under which Sompo Japan Insurance Inc. Canada Branch operates its Canadian insurance business. That trade name is also used by our other offices in Bermuda, the United States, the United Kingdom, Continental Europe, and Asia. Sompo International underwrites agriculture, professional lines, property, marine and energy, and casualty and other specialty lines of insurance and catastrophe, property, casualty, professional lines, weather risk and specialty lines of reinsurance.As a leading global provider of insurance and reinsurance, we recognize that our success is derived directly from those who matter most: our people. At Sompo International, a shared commitment to integrity, teamwork, agility, execution, and excellence define our culture, and we strive to create exceptional value for our clients and shareholders and maintain Sompo International as a desirable place to work.We are seeking an VP, Head of Legal and Compliance - Canada for our Canadian operation located in our Toronto office. Sompo provides a service approach by offering comprehensive multi-line capabilities to accounts in select industries including real estate, hospitality, financial institutions, manufacturing, life sciences, technology, Asian-interest accounts, and professional services. Taking a holistic approach to risk management, the unit offers primary casualty (general liability, commercial auto), excess capacity, and commercial package to small, middle-market and large accounts across target industries in the U.S., Mexico, and Canada.Responsibilities: Regulatory/Compliance-Provide regulatory compliance support to business functions and communicate with local regulators, as required.Oversee the Branch’s compliance framework and day-to-day operations to ensure compliance with federal and provincial requirements, which may include independent monitoring from time to time. Develop and maintain Branch policies as per regulatory guidelinesWorking collaboratively with the Sompo International Compliance department, ensure compliance with Canadian financial crime obligations, including sanctions and AML/CFT.Manage the preparation and submission of regulatory, financial, and statistical reporting (GISA/GAA), as may be required. Provide written reports to Branch Management, Branch Steering Committee, and/or Chief Agent with regard to the branch’s regulatory compliance framework, compliance risk assessments, and effectiveness of controls. Legal/Product -Working collaboratively with key stakeholders, draft property and casualty policy forms and endorsements.Advise underwriters regarding property and casualty policy terms, coverage issues, and related legal considerations.Review and approve legal documents, such as non-disclosure agreements, vendor agreements, and warranty statements.Identify opportunities for, and contribute to, continual improvement for team processes. Other duties as determined by Departmental leadership or local management.Qualifications:Resident of Canada.Bachelor of Laws (LLB) or Juris Doctor (JD) degree and admission to the bar of at least one province or territory.Minimum of eight (8) years of relevant experience at an insurance company or combination of in-house and law firm experience.Experience drafting property and casualty policy forms and outstanding legal writing skills. Candidates may be asked to provide a writing sample.Understanding of the Canadian insurance marketplace and familiarity with Canadian local standard property and casualty policies.Prior experience with the commercial insurance regulatory framework and the ability to work with OSFI and the other respective provincial regulators to usher through filings, facilitate market conduct exams, and navigate insurer licensing issues.Prior experience with the federal and provincial regulatory obligations applicable to foreign insurers operating branch offices within Canada, including the function of Steering Committees. Prior experience as a Chief Agent preferred, but not required. Strong organizational and time management skills with a strong ability to make decisions with limited information.Excellent spoken and written communication skills, including the ability to communicate effectively to both technical and non-technical audiences.This job description outlines the general nature and level of work performed by individuals assigned to this position. It does not restrict the management's right to assign or reassign duties and responsibilities to this job at any time.Sompo International offers a competitive salary, comprehensive benefits package, and opportunities for professional growth and development.Sompo International is committed to employment practices, including recruitment and hiring practices, that are inclusive and accessible. Accommodations for individuals with disabilities are available. Should you require accommodation, please contact human resources at [email protected] our website at www.sompo-intl.com