Technical Specialist (Insurance)

Reporting to the Head of Insurance, the Technical Specialist is responsible for providing technical input on the prudential supervision and authorisation of insurers against the organisation’s regulatory requirements and Gibraltar legislation, with a focus on the biggest risks to the organisation’s objectives and systemic risks to Gibraltar.

The role:

  • Carrying out risk assessments with the aim of understanding key risks faced by firms. This may include the following in order to identify risks and courses of action to mitigate them:

– Risk assessments of licensees.

– Reviews of financial and non-financial returns

– Planning for on-site work

– Documenting assessment of risks

– Pre-agreed Thematic reviews

  • Leading on and providing technical expertise on technical topics particularly on the regulatory requirements for insurers, ensuring that regulatory outcomes are to the required standard.
  • Proactively building strong relationships with key stakeholders
  • Leading on insurance authorisations as required, ensuring a consistent approach to applications and other authorisation requests.
  • Investigating systemic risks facing banks.
  • Compiling accurate and meaningful reports by summarising issues and risks to the organisation’s objectives arising from returns and/or other hard and soft information received.
  • Recommending decisions on supervisory actions for insurers in Gibraltar.
  • Building relationships with firms and applicants in order to improve understanding of key risks and providing clear and concise feedback to firms when required.
  • Intervening, where necessary, whenever a breach in the regulatory requirements by a regulated firm has occurred and take appropriate corrective action along with the Regulatory Investigations and Policy Teams.
  • Participating and contributing to the work of other teams.
  • Keeping up to date with relevant industry developments.
  • Supporting and in some cases delivering, the implementation of new processes and systems.
  • Operating within internal service level standards.
  • Ensuring that the applicable databases used are accurate and maintained/updated in a timely and accurate manner.
  • Writing comprehensive and accurate letters, memos and reports.
  • Responding to external and internal queries in a timely, professional and helpful manner.
  • Identifying, reporting, escalating and managing risks, risk events, controls and management actions in a timely manner in line with standards and policies (including risk appetite) and proactively engage with risk function.

Knowledge, Skills & Experience:

  • Confidence to manage relationships with external and internal stakeholders.
  • Ability to draw conclusions and decide on a course of action.
  • Strong analytical skills.
  • Ability to demonstrate confidence to lead and conduct relationships with regulated firms and other stakeholders at the highest levels.
  • Proven ability to build and manage complex stakeholder relationships.
  • Proven ability to make good decisions based upon sound judgements and analysis.
  • Excellent time management skills.
  • Effective communicator, both written and oral.
  • Highly motivated with quality work ethic.
  • Good team player who supports and works well with others.
  • Dependable, honest and able to deal with sensitive information in a confidential manner.
  • Desire to continually improve and learn.
  • Regulatory experience or experience working in audit, insurance or related industry.
  • Knowledge and/or experience of the Gibraltar regulatory framework relating to insurance is desirable.

Academic Requirement:

  • A degree in either a business, finance, mathematical, statistical field or a relevant professional qualification such as accounting or law is desirable
Job Category: Latest jobs in Gibraltar
Job Type: Full Time
Job Location: Gibraltar
Salary: DOE

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