Head of Broker Compliance

Company: Axis Capital
Location: New York
Posted on: May 19, 2025

Job Description:

This is your opportunity to join AXIS Capital - a trusted global provider of specialty lines insurance and reinsurance. We stand apart for our outstanding client service, intelligent risk taking and superior risk adjusted returns for our shareholders. We also proudly maintain an entrepreneurial, disciplined and ethical corporate culture. As a member of AXIS, you join a team that is among the best in the industry.At AXIS, we believe that we are only as strong as our people. We strive to create an inclusive and welcoming culture where employees of all backgrounds and from all walks of life feel comfortable and empowered to be themselves. This means that we bring our whole selves to work.All qualified applicants will receive consideration for employment without regard to race, color, religion or creed, sex, pregnancy, sexual orientation, gender identity or expression, national origin or ancestry, citizenship, physical or mental disability, age, marital status, civil union status, family or parental status, or any other characteristic protected by law. Accommodation is available upon request for candidates taking part in the selection process.Head of US Broker ComplianceJob Family Grouping: Operations Group Job Family: Operations-Producer ComplianceHow does this role contribute to our collective success?As the Head of Broker Compliance at AXIS, you will play a pivotal role in ensuring our operations adhere to the highest standards of regulatory and governance requirements. Your expertise will be crucial in developing and implementing robust compliance policies and procedures, fostering a culture of integrity and accountability. By leading a dedicated Broker Compliance team, you will provide strategic guidance and support to the business, ensuring we navigate the complex regulatory landscape with confidence and precision.What will you do in this role?Broker Compliance Program Development & Oversight:* Design, implement, and continuously improve the broker compliance program to align with federal, state, and international regulatory requirements.* Develop policies and procedures to monitor broker activities, ensuring compliance with licensing, appointment, and registration obligations.* Establish and maintain broker compliance policies related to anti-money laundering (AML), trade sanctions, conflicts of interest, fair market conduct, and financial crime prevention.* Conduct ongoing compliance risk assessments to identify potential exposure areas in broker relationships and implement mitigating controls.Regulatory & Licensing Compliance:* Ensure that all appointed brokers maintain active and compliant licenses in relevant jurisdictions, including U.S. state insurance departments (NAIC, DOI), Lloyd's, and international regulatory bodies.* Oversee compliance with admitted and non-admitted insurance regulations, including export lists, surplus lines requirements, and statutory reporting.* Monitor changes in federal and state laws, NAIC model regulations, and international compliance standards that impact broker operations.* Serve as the primary liaison with state regulators, the NAIC, and other regulatory bodies on broker compliance matters.* Ensure compliance with broker compensation disclosure requirements, commission structures, and regulatory filings.Broker Due Diligence & Onboarding:* Develop and maintain a comprehensive broker due diligence framework, ensuring all new brokers undergo a thorough vetting process.* Conduct enhanced due diligence (EDD) on high-risk brokers, including background checks, financial stability reviews, and reputational risk assessments.* Oversee the contractual and legal review of broker agreements, ensuring that they incorporate required compliance clauses.* Maintain a centralized broker compliance database with documentation on licensing, financials, legal agreements, and regulatory history.Audit & Monitoring:* Lead and execute broker compliance audits, including on-site and remote audits of broker operations, books of business, and adherence to company policies.* Implement a real-time monitoring framework to track broker performance, complaints, market conduct violations, and regulatory infractions.* Develop and enforce corrective action plans (CAPs) for brokers with compliance deficiencies, ensuring timely resolution.* Work closely with internal audit, risk, and legal teams to enhance oversight mechanisms for broker relationships.* Develop and maintain department vendors, negotiate contracts and research vendors as necessary.Training & Compliance Culture:* Design and deliver broker compliance training programs for internal stakeholders and external brokers, covering regulatory updates, ethics, AML, data privacy, and market conduct best practices.* Promote a strong compliance culture by integrating broker compliance requirements into the company's broader governance framework.* Provide compliance guidance to underwriting, distribution, and finance teams to ensure broker-related activities align with regulatory expectations.Data Protection & Regulatory Reporting:* Ensure brokers comply with data privacy laws (e.g., CCPA, GDPR) and cybersecurity standards when handling sensitive policyholder information.* Oversee regulatory reporting requirements, including broker licensing renewals, surplus lines tax filings, statutory disclosures and regulatory data certifications.* Develop and manage compliance dashboards and reporting tools to provide senior leadership with key compliance metrics and trends.About You:We encourage you to bring your own experience and expertise to the table, so while there are some qualifications and experiences, we need you to have, we are open to discussing how your individual knowledge might lend itself to fulfilling this role and help us achieve our goals.What you need to have:* Bachelor's degree in Law, Business, Risk Management, Finance, or a related field; advanced degree preferred.* Minimum of 10 - 15 years of experience in insurance compliance, regulatory affairs, or broker management within a specialty insurance and re-insurance environment.* Extensive knowledge of U.S. insurance regulations, surplus lines laws, intermediary governance, and state/federal compliance frameworks.* Direct experience engaging with regulatory bodies such as DOIs, NAIC, FINRA, OFAC, and international counterparts.* Strong background in compliance audits, regulatory filings, broker due diligence, and contract negotiation.* Experience with Lloyd's broker standards and international insurance compliance regulations is highly desirable.* Membership and involvement in the Securities & Insurance Licensing Association (SILA) or similar industry associations preferred.Critical competencies:* Deep regulatory knowledge of broker compliance laws, intermediary relationships, and insurance distribution models.* Exceptional analytical skills with the ability to identify compliance risks and develop strategic solutions.* Strong leadership and communication skills to influence internal stakeholders and external brokers.* Experience managing regulatory audits, investigations, and enforcement actions.* Proficiency in compliance technology and data analytics tools for monitoring broker activities and reporting compliance risks.* Ability to work in a fast-paced, highly regulated environment with a strong sense of ethical responsibility.Role Factors:In this role, you will typically be required to:Embrace the hybrid culture offered at AXIS, you need to be in office 3 days per week.Much of the work involves using computers for data entry, analysis, and communication. Comfort with prolonged screen time is necessary.While much of the work may be desk-bound, there might be occasions requiring mobility within the office environment, such as attending meetings.

Keywords: Axis Capital, Paterson , Head of Broker Compliance, Accounting, Auditing , New York, New Jersey