Manager Compliance & Risk (Insurance)

Manager Risk & Compliance, who will act as Compliance Officer to a portfolio of Insurance and Reinsurance companies, in addition to fulfilling internal control and compliance functions various Solvency II and other adhoc projects.    The successful candidate will be part of an innovative team with a diverse set of responsibilities, as would be expected of someone in this role.

The role is based in Malta.

The role:

  • Monitoring of the compliance function and reporting quarterly or more frequently, if required, to the Board.
  • Provision of an annual compliance policy statement for the Board to approve.
  • Compliance with the Insurance Legislation and Regulations, with guidelines issued by the MFSA and with other applicable legislation.
  • Reviewing procedures and systems on a planned basis from the viewpoint of effective compliance and advising as to steps necessary to ensure compliance.
  • Reviewing staff training processes to ensure appropriate compliance competencies.
  • Act as Anti-Money Laundering Officer ensuring staff are trained and informed of the necessary anti-money laundering regulation and procedures.

Review completed quarterly and annual insurance / finance compliance checklists in association with the following as applicable:

  • Management Accounts
  • Solvency Calculations
  • Company Secretary confirmations
  • Confirmation that taxation payments have been made on time
  • Board (Sub Committee) meeting documentation
  • Written correspondence between the Company and the MFSA
  • Discussions/correspondence with the finance and insurance teams of AIM Malta
  • Ensure timely reporting of areas of non-compliance.
  • Attendance at Board meetings by the Compliance Officer.
  • Signed Statutory Accounts.
  • Annual Submission to the MFSA
  • Signed Letter of Representation.
  • Audit Findings Report.

On and ad-hoc basis review/provide the following:

  • Internal audit reports.
  • Compliance and Regulatory updates.
  • Solvency II updates.
  • Institute and maintain an effective compliance communication programme between the Compliance Officer, Board and others as required.
  • Produce a Compliance report to the Board.
  • Complete the annual Anti-money laundering report and submit within the stipulated deadline to FIAU.
  • Train staff on anti-money laundering procedures.
  • Produce an annual anti-money laundering report to the Board.

Candidate requirements:

  • Professionally qualified in Accountancy, Law, or Insurance.
  • Have a proven understanding of EU legislation, Malta legislation, and the regulatory environment which governs their clients.
  • Strong understanding of the Solvency II
  • Proven managerial experience, ideally with a compliance, finance or insurance background.
  • Have completed or a willingness to complete the Compliance Training and courses.
  • A self-starter, with strong interpersonal skills, a strong team ethic, and ability to prioritise.
  • Team player with experience in managing people and projects
  • Self-motivator with pro-active attitude to project delivery.
Job Category: Latest jobs in Gibraltar
Job Type: Full Time
Job Location: Malta
Salary: DOE

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