Head of Compliance

We are looking on behalf of our client for an experienced Head of Compliance to join a progressive Insurtech company based in Gibraltar. This role will be FSC approved and will require a proactive approach to compliance management, regular interaction with regulatory bodies, and the development of robust compliance policies and procedures.

Duties:

• Stay abreast of regulatory changes and developments affecting the motor insurance sector.
• Ensure that all company activities follow Gibraltar and UK laws and regulations.
• Act as the primary contact for regulatory bodies in Gibraltar and the UK and manage all regulatory submissions, reporting, and audits.
• Implement and oversee strategies to ensure the company meets its responsibilities towards consumer duty, particularly concerning retail customers.
• Develop and maintain policies that promote transparency, fairness, and integrity in all customer interactions.
• Lead the development and implementation of comprehensive compliance policies and procedures, including a robust Compliance system.
• Ensure these are effectively communicated across the company and fully integrated into all business processes.
• Establish a Compliance Monitoring Plan to ensure continuous compliance and address potential violations of regulatory, legal or company policies.
• Prepare and present detailed compliance reports to senior management and regulatory bodies.
• Conduct thorough risk assessments related to compliance issues, particularly those that affect retail customers.
• Develop risk mitigation strategies to prevent compliance breaches.
• Develop and deliver training programs on compliance and regulatory requirements to employees at all levels of the organization.
• Ensure our clients staff are aware of their roles and responsibilities with respect to compliance and consumer protection.
• Collaborate with internal and external stakeholders to enhance compliance frameworks and practices. Provide expert advice and guidance on compliance matters to senior management.
• Act as a key advisor to the board and executive management on all compliance-related matters.
• Offer strategic insights and recommendations to guide decision-making processes and ensure the company’s compliance posture aligns with its strategic objectives.
• Be the Regulated Individual for the Head of Compliance position with the Gibraltar regulator.

Requirements:

• At least 7 years of experience in a compliance role within the insurance industry, ideally motor insurance.
• Deep understanding of Gibraltar’s regulatory environment and international compliance standards relevant to the insurance sector.
• Strong relationship with the Gibraltar Financial Services Commission.
• Exceptional organizational, leadership, and communication skills.
• Strong awareness and understanding of Consumer Duty regulations in Gibraltar and the UK.