Chubb is the world’s largest publicly traded property and casualty insurer. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients.
The company is distinguished by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength, underwriting excellence, superior claims handling expertise and local operations globally.
The insurance companies of Chubb serve multinational corporations, mid-size and small businesses with property and casualty insurance and services;
affluent and high net worth individuals with substantial assets to protect; individuals purchasing life, personal accident, supplemental health, homeowners, automobile and other specialty insurance coverage;
companies and affinity groups providing or offering accident and health insurance programs and life insurance to their employees or members;
and insurers managing exposures with reinsurance coverage. With $150 billion in assets and $37 billion of gross written premiums in 2014* on a pro forma basis, Chubb’s core operating insurance companies maintain financial strength ratings of AA from Standard & Poor’s and A++ from A.
M. Best. Chubb’s parent company is listed on the New York Stock Exchange (NYSE : CB) and is a component of the S&P 500 index.
Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 30,000 people worldwide.
Role Purpose :
Pursuant to the Turkish insurance legislation insurance companies are obliged to have Internal Controllers and Risk Managers.
Currently the Internal Controller is Didem Kilislioğlu, Risk Officer is Emre Emiroğlu. Internal Controller must have a deep understanding of the operations of the Turkish Branch in particular in relation to financial, operations and IT aspects of the Turkish Branch.
Risk Officer shall ensure identification, measurement, monitoring and controlling of the risks faced by the Branch, thus required to have the skills particularly on financial and operational aspects of the Branch.
In a recent regulatory audit Chubb Turkey was severely criticised of not having effective internal controls, particularly on financials.
Therefore, the main purpose of this role is to be fully compliant with the Turkish legislation.
Key Responsibilities :
Generate reports from risk measurement models used by the company and analyse these reports.
Ensure that the quantifiable risks remain within the established limits and monitor the use of these limits.
Consolidate limits established for each risk on unit basis in order to monitor the compliance with the established limits on the basis of the entire company.
Ensure reporting of the risk measurement and risk monitoring results to the board of directors or the audit committee and the General Manager regularly in a timely manner.
Work closely with the Group Risk Management team for the preparation of the required task.
Liaise with Regional Business Continuity Plan (BCP) team and ensure necessary training and communication for Business Continuity Plan (BCP) as required.
Ensure compliance of the Branch with the AML legislation and assist the AML Officer for the tasks required to be done pursuant to the relevant legislation.
Assist AML Officer for the preparation the Internal AML Policy and procedures of the Branch where required.
Conduct the necessary KYC controls
Assist the AML Officer on the annual mandatory AML trainings.
Support the regional team in the AML inquires relating to the MENA business.
Assist and support the LCO To this end perform the below stated tasks as a minimum requirement.
Ensure that the Business Compliance Frame work (risk register and the business profile) are frequently up to date and embodies accurate risk scores and controls in place.
Support the Regional and Local compliance monitoring activities either compliance assurance reviews or thematic reviews.
Review relevant compliance policies and procedures, ensure circulation to relevant stakeholders and where required conduct training.
Ensure timely update of the Compliance Dashboard.
Conduct a frequently refresher training on compliance polices to all existing staff and a compliance and AML induction for new joiners within 3 months of joining.
Monitor the requests through Laser portal and coordinate the LCO for timely response.
Ensure timely escalation of issues, incidents, and breaches to relevant management locally and in the region.
Knowledge & Experience
Graduate of University, at least 5 years professional background in Internal Control or Audit function in insurance sector, in depth knowledge of insurance business particularly on financials
Experience in an insurance company as internal controller with a very good knowledge of financial requirements is the most important part of the role
Working for Chubb