Executive Director - Head of Compliance (JP)

The Executive Director, Head of Compliance is responsible to establish and carry out programs for the purpose of implementing an effective process to identify, measure, monitor, and control compliance risks. Responsible for the oversight and coordination of activities and programs related to the global compliance program delivered in market.  

The Executive Director is an active member of the branch site crisis management team and leads all efforts in BCP, Data Loss Prevention, knowledgeable around cybersecurity as well as adherence to Personal Information Protection regulation in Japan. 

Serving as a subject matter expert and point of contact for the business in Japan, this includes advising on a range of compliance matters and applicable law, providing guidance and counsel to senior management, business units, and cross-functional teams, and overseeing the implementation of your guidance. In addition, you build relationships and maintain frequent dialogue with the Japanese regulator.

The Executive Director will manage a team of three direct reports. The role is also expected to work with Asia Regional Regulatory affairs team on proactively engaging with various government bodies to lobby for change in regulation in Japan for the benefit of growth of the Insurance industry across the country.

Primary responsibilities

This position is responsible for leading all aspects of Japan Compliance:

• Responsible for the Branch’s compliance with the Insurance Business Law and all other relevant Japanese/U.S. laws, regulations, supervisory guidelines and Branch and ** policies
• Review and update compliance manuals and other compliance rules and policies on a regular basis including rules and manuals subject to “legal check” under the FSA inspection manual
• Conduct compliance training for employees periodically and implement annual compliance programs
• Monitor the Branch’s compliance with applicable laws and regulations related to the insurance business and the policies of the Branch and **
• Maintain contact with the FSA and trade associations; share best practice with other compliance professionals
• In consultation with Global Legal Services, assist with the review of contracts as necessary, also work closely with Japan Management Board and in-house counsel in Sydney and Asia region to assure that the Branch manages legal/litigation risks and controls legal matters and report all matters to Regional Head of Compliance for legal decision making

Other responsibilities include

• Obtain necessary business licenses/permission and filing changes, ensure consistency between the Branch’s actual operations and the terms and conditions that were filed with the FSA for its business license
• Negotiation with and reporting to the regulators on an ad-hoc basis
• Carry out regular reviews of the overall Branch operations, including corporate governance, and raise recommendations to senior management, ensure consistency between the Branch’s actual operations and the terms and conditions that were filed with the FSA for its business license
• Responsible for Business Continuity Planning of the office at the local level and work with global head of BCP in Headquarters and leading and driving Data Loss Prevention matters within the branch

Required qualifications

• Bachelor’s degree or equivalent work experience
• Minimum of 15 years as a compliance officer with a financial institution, preferably a Life Insurance company
• Demonstrated understanding of FSA reporting requirements and practices
• Broad general knowledge of the insurance industry. Building strong relationships with external stakeholders, regulatory bodies, and industry groups to stay informed about best practices and regulatory developments
• Experience in leading the response to an FSA audit, a cyber incident, and a data leakage incident are beneficial
• Strong communication and leadership skills to manage, lead and mentor others
• Fluent level English and Japanese, both verbal and written

Preferred qualifications & experiences

• Qualified lawyer in any jurisdiction with international experience extremely helpful
• Substantial Insurance, data privacy and IT experience, familiar with and interested in technical concepts
• Ability to assess and manage risk (strong competence in spotting legal, business and operational issues) and to deliver pragmatic approaches and solutions to the business (not just advice)
• Project Management skills
• Knowledge and/or experience in life insurance industry