Head of Legal - Re & ILS

Job Type:

Permanent

Build a brilliant future with Hiscox
 

The role

A broad and autonomous Head of Legal and Compliance role advising on all legal facets of the Hiscox Re and ILS business unit in day-to-day operations reporting to the CEO.

Key responsibilities

• Management – Manage a team of two contract wording specialists, a legal associate and a compliance officer 

• Capital markets 

  • Structuring – Lead the legal aspects of structuring and closing complex transactions, including setting up funds, insurance vehicles and loss portfolio transfers. 

  • On-board institutional investors 

  • Review marketing activities for legal compliance 

• Transactional 

  • Advise and lead negotiations on collateralised reinsurance transactions including negotiation of trust arrangements and liaising with contracts wording specialists, portfolio managers and underwriters on reinsurance agreements 

  • Overseeing the review and drafting of reinsurance contracts for existing and new products 

  • Provide legal assistance to the business on reinsurance recoveries, ceded, reinsurance and intra-group reinsurance agreements 

• Regulatory – Stay updated on and advising on regulatory matters affecting the business including AIFMD, Bermuda investment and insurance regulation, US (SEC) Regulation. Involved in BMA relationship as needed. Responsible for all regulatory reporting for the investment manager.

• Governance, Risk & Compliance – Review, further develop and maintain the Company’s and Funds’ governance framework in line with regulatory requirements and industry best practise. Further develop and maintain compliance programme and enterprise risk management framework in order to meet regulatory and best practise requirements 

• Operational – Assist with day-to-day operational matters including the maintenance and evolution of shared services framework and operating model, tax structuring, appointment and management of third-party advisors/consultants, dispute management and HR matters 

• Board management – Work with the leadership team to prepare the Company’s and the Funds’ board-related matters and advise the board on legal matters 

• Stakeholder management 

  • Liaise with and instruct external counsel where necessary with responsibility for managing legal costs 

  • Aid the Group General Counsel as required 

  • Ensure proactive communication with the business and Group’s other entities 

  • Communicate with key regulatory bodies and external partners like ABIR and RAA by networking and providing information on behalf of the Company to uphold organisational reputation and maintain beneficial external relationships

Person Specification

• English or US qualified lawyer

• Proven track record of at least 10 years of relevant experience providing counsel to asset managers, brokers or (re)insurers, managing licensing and regulatory requirements of the applicable vehicles, as well as insurance-linked securities transactions such cat bonds and sidecars.

• Significant experience managing various stakeholders including boards, regulatory bodies and industry associations.

• Experience reviewing investment-related marketing materials

• Experience reviewing trust agreements, reinsurance contracts

• Experience providing clear and pragmatic advice, as well as internal and external challenge where needed

• Experience facilitating organisational compliance with applicable laws and regulations and clear attention to detail

• Experience identifying relevant issues, taking initiative in achieving resolution, using a collaborative approach, and understanding of what technical and compliance matters that require escalation or greater oversight

• Experience operating independently, a team-focussed mindset and hands-on approach

• Experience influencing cross-functional decision-making by collaborating with internal partners to guide development of company policies and best practices

• Excellent drafting, negotiation, influencing and legal project management skills

• Strong communicator with a commercial mindset

• Strong work ethic

About Hiscox

As an international specialist insurer we are far removed from the world of mass insurance products, selectively focusing on key areas of expertise and strength, all of which is underpinned by a culture that encourages us to challenge convention and always look for a better way.

Defined by our strong moral fibre we prioritise above all else the principle of doing what we say we will. Insuring the unique and interesting, our search for talent is the same. We empower our people to think creatively, challenge the status quo and approach things with a solutions focused lens. This results in us being able to provide the type of insurance solutions which are often too complex for other insurance companies; we find a way where others give up.

Our straight talking culture is not for everyone but allows us to strive to improve everything we do and never settle. Trust is integral to how we operate and it allows us to work in an environment where every role has a high level of autonomy; freedom to forge your path and help set the wider agenda is evident in all parts of the organisation. Through embracing an environment that brings together people who are unique and interesting we are ensuring we build a company where teams don’t all think the same – this, combined with a culture where courage to say what you think is not only actively encouraged but is central to our business model has defined our success.

If you thrive in a challenging and collaborative environment where you are trusted to work instinctively and know the company will stretch you to your full potential look no further.

About Hiscox Re and ILS

Hiscox Re & ILS is the reinsurance and insurance-linked strategies (ILS) business unit within Hiscox Group. Our team of circa 130 curious and collaborative individuals are committed to providing top quality service to brokers, cedants and capital partners through an innovative range of reinsurance products and third-party capital opportunities.

Diversity and Hybrid working

At Hiscox we care about our people. We hire the best people for the job and we’re committed to diversity and creating a truly inclusive culture, which we believe drives success.

We have also learned over the past few years that working life doesn’t always have to be in the office, and now it is safe to do so we have introduced hybrid working to encourage a healthy work life balance.
 
This hybrid working model is set by the team rather than the business to enable you to manage your own personal work-life balance. We see it as the best of both worlds; structure and sociability on one hand, and independence and flexibility on the other

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Work with amazing people and be part of a unique culture