AVP, Legal Counsel, Protection

Job TitleAVP, Legal Counsel, ProtectionJob DescriptionThe RoleTo provide a high-quality legal and compliance service, with a focus on contractual matters and regulatory application, to the Korea Branch and, more generally, to provide legal support to the wider Protection Line of Business (“LOB”), for the Protection LOB Japan business.This role operates as a sole legal role based in Korea and functions as an integral part of the wider Protection Legal team. The Protection Legal team provides global support to the Protection LOB and is currently comprised of 5 team members, located in Singapore, Australia, and Toronto, respectively.Duties To work closely with the Korea Branch team, the Japan team and other stakeholders in the wider Protection LOB to manage the review, negotiation development and deployment of reinsurance documentation for the Protection LOB reinsurance business. This will involve client contact (including negotiation of treaties and other key legal documentation) and interaction with internal stakeholders. Most transaction work is handled in-house, but this may also involve liaising with external counsel. (40%)Serve as the Compliance Officer for the Korea Branch and be responsible for the overall compliance function and official designations including Chief Risk Officer (“CRO”), Privacy Officer, AML Officer. Key responsibilities shall include identifying and taking ownership of legal and regulatory issues relating to the Korea Branch, attending Korea Branch entity meetings and presenting to relevant stakeholders on legal and compliance matters, ensuring compliance with applicable internal and external policies and regulations in respect of Korea Branch, drafting and updating of the Korea Branch Operating Guidelines, proactively researching and advising the Korea Branch on relevant Korea regulatory matters on a regular basis, preparing ad hoc reports as required by regulators and relevant authorities and ensuring that relevant filings are completed in an accurate and timely fashion, and serving as the first contact point for liaison with regulators and authorities in Korea, where appropriate. In particular, manage risk management matters within the Korea Branch in consultation with the AVP, Risk, Asia, including (but not limited to): (45-50%)Ensure that a sound corporate governance framework is in place in the Korea Branch, along with the necessary internal control systems, including prevention and detection of fraud.Lead the embedding of the risk management framework in the Korea Branch, including the regular stress test as required under the local regulatory guidelines.Ownership of Korea Branch-specific policies e.g. Internal Controls Policy, and Risk Management Standard. Ensure, as the CRO, that the risk management framework in the Korea Branch meets local regulatory requirements.Proactively advising Korea Branch management and wider risk and leadership teams of any risk related matters requiring attention and/or intervention and/or advising on risk culture in the Korea Branch.Drafting, reviewing and advising on commercial agreements relating to the business and dealing with ad hoc legal and compliance queries from the business (e.g., data protection, HR, IT, finance) and performing annual/quarterly legal compliance activities (including but not limited to delivering internal training and arranging for external training). Ad hoc advice on disputed claims (external legal support would be sought in the unlikely event of litigation). (10-15%)Liaising with the wider Pacific Life Re and Pacific Life legal teams to maintain relevant standards and collaborate on projects and initiatives that apply organisation-wide.Qualifications & ExperienceEssential ExperienceQualified solicitor of 5-7 years’ PQEGeneral contract and commercial law experience, preferably at a top-tier Korean or international law firmHigh standard of written and fluent spoken EnglishNative written and spoken KoreanExcellent legal drafting skillsProficient at using MS WordDesirable ExperienceLegal, risk and regulatory experience relating to the financial services sector (reinsurance, insurance, investments, banking), and the insurance/reinsurance sectors in particularKnowledge and understanding of Korea financial services regulation, preferably in an insurance context, in particular:FSS regulatory frameworkTax and finance-related regulations, including being able to reasonably challenge financial numbers and their productionOther laws and regulations applicable to the Korea BranchCalled to the Korean BarLegal experience in AsiaKey Skills And BehavioursDemonstrates an appropriate level of technical skills for their role and an appreciation of current issues affecting their profession and the life reinsurance industryAbility and desire to communicate at all levels across the business and with customers and to work well within a team environmentStrong analytical and problem-solving skillsStrong sense of internal controls and proceduresStrong interpersonal and influencing skillsTakes responsibility for quality, completeness and accuracy of workOrganised, conscientious, and deadline focused with an attention to detailShows initiative, flexibility and resourcefulnessCritically evaluates and challenges current work practicesIs able to deal with challenging deadlines and prioritises effectivelyProvides accurate and timely updates on status of work and escalates issues appropriately.Participates actively in meetingsIs a committed team member who shares information, knowledge, and experience openlyCommunicates in a clear and practical manner both verbally and in writingWorking For Pacific Life ReEvery person in our global team is valued for the unique qualities they bring to our business and we seek to build their expertise and support their individual ambitions at every step. Of course, we take our work seriously and we know our team can operate under great pressure. We work hard and thrive on achievement, but we also know how to have fun and relax too. We regularly host a range of team building days to strengthen our team's connection with each other and reflect on their successes.Providing employees with a healthy work-life balance is very important to our culture. We have a wide range of employee benefits and we host regular social activities and well being initiatives. We are also committed to supporting our employee's involvement in their communities, by actively fundraising, hosting charity events and overseeing volunteering opportunities.BenefitsLeave 21 days of annual leave with option to buy more daysFertility leave Generous enhanced parental leave HealthcarePacific Life Re provides group insurance coverage to all employees, their legal spouse and children for the following products:Group Hospitalisation, andGroup OutpatientIn addition, employees are covered underGroup Disease Death,Group Accidental Death, andGroup Accidental DisabilityAdditional flexi benefitsWellnessAccess to Employee Assistance Program Time off for volunteering Charitable matching of employee donations As part of our commitment to diversity and inclusion, we will provide reasonable adjustments during the recruitment process to ensure equal access to applicants with disabilities. Please contact us about your needs so that we can discuss these with you to make sure that suitable adjustments are made, where possible.Pacific Life Re ValuesPlease click here to view our company values