VP and Chief Compliance Officer (HYBRID)

Hanover Insurance Group - Worcester, MA

Full-time - Senior

Hybrid - Worcester, MA

Insurance Carriers and Related Activities

About the position

The Chief Compliance Officer (CCO) is a member of Hanover's senior leadership team reporting directly to the Chief Legal Officer. The CCO has principal authority and responsibility for the development, implementation, oversight, and evaluation of all aspects of The Hanover Insurance Group's (THG) Property and Casualty Compliance Program. She/he will lead the enterprise in establishing and managing a corporate compliance philosophy and culture that is aligned with business strategy and ensures the upholding of high ethical standards and operation by all applicable laws and regulations. This individual is directly responsible for providing senior leadership and business guidance for THG's regulatory compliance within US jurisdictions for all P&C operations associated with THG's product offerings (Personal, Commercial and Specialty), as well as related operations (e.g., claims, underwriting operations). She/he acts as Company representative with external regulatory agencies regarding market conduct and other regulatory compliance matters. This individual will provide broad perspective on compliance matters and lead the Compliance staff and resources. This is a full, exempt position.

Responsibilities

• Develop, maintain and oversee an effective compliance program that prevents, detects, and corrects areas of potential noncompliance.
• Provide leadership critical to the enhancement of a solid Compliance infrastructure, including systems, processes, and vision to ensure businesses operate within complex regulatory requirements.
• Lead a team of high performing compliance professionals focused on professional development, continuous improvement, and a growth mindset.
• Oversee core regulatory compliance functions including risk assessment, new law monitoring/implementation, issue tracking, regulatory assessment testing, and compliance training.
• Maintain effective relationships with state market conduct regulators and oversee market conduct exams and inquiries.
• Administer all facets of the Company's OFAC program and assist the Chief Privacy Officer with privacy-related inquiries.
• Proactively inform partners of issues impacting their business area and collaborate cross-functionally to identify compliance solutions.
• Partner with other risk functions to coordinate efforts in identifying and assessing risks and controls.
• Regularly report on compliance efforts to senior leadership and the Audit Committee.
• Represent Compliance on enterprise-level committees and support a culture of compliance through regular interactions across the enterprise.

Requirements

• A minimum of ten years of experience as a compliance professional in a leadership capacity or related experience at a P&C insurance company.
• P&C business (Claims, Underwriting, Operations, Product) and public company experience is a plus.
• Bachelor's degree; MBA or JD is a plus. CPCU, Certified Compliance & Ethics Professional (CCEP), Market Conduct Manager (MCM) designations are a plus.
• Direct experience interacting with applicable regulators with a demonstrated knowledge of the P&C regulatory landscape.
• Ability to accurately assess risk and balance business needs with organizational philosophy.
• Demonstrated ability to lead and inspire a diverse team of Compliance professionals.
• Very strong analytical capabilities and skills in understanding root causes of compliance deficiencies.
• Strong executive presence and ability to inspire trust and confidence with senior leaders and the Board of Directors.
• Ability to build relationships with key constituents across the enterprise.
• Track record of being an inspiring leader with an inclusive approach.
• Creative, flexible, and positive mindset with the ability to drive organizational impact.
• Highly motivated, self-directed, and able to have real impact on the organization.
• Maintains a calm demeanor through stressful situations.

Benefits

• Medical, dental, vision, life, and disability insurance
• 401K with a company match
• Tuition reimbursement
• PTO
• Company paid holidays
• Flexible work arrangements
• Cultural Awareness Day in support of IDE
• On-site medical/wellness center (Worcester only)