Senior Compliance Officer

One of our clients specialising in the Insurance industry is looking to recruit  a Senior Compliance Officer to join their team and set up their Compliance function:

Duties:

• Ensure the company satisfies its authorisation requirements in terms of the Insurance Business Act, Regulations and Insurance Rules issued thereunder, and assess the possible impact of any changes in the legal environment on the company’s operations
• Identify and assess compliance risks across all operations of the Company including cross-border activities outside Malta and those outsourced to third-party service providers
• Provide guidance and advice to the company on the interpretation and application of both new and existing legislation and formulate and implement new procedures in relation to new legislation
• Monitor compliance and identify any breaches and escalate them to the Company’s internal structures and where necessary to the Board and the MFSA
• Prepare a compliance plan on an annual basis and quarterly compliance reports
• Develop a compliance monitoring programme
• Liaise and communicate with the MFSA on an ongoing basis, to file notifications, submissions and requests, to obtain documents on the MFSA’s request and assist MFSA personnel as necessary during compliance visits
• Support the development of an effective compliance culture across the business
• Provide training on regulatory matters to staff and management as necessary
• Liaise, if and when required, with the Company’s legal advisors, service providers and auditors of the Company.

• A minimum of 5 years experience working in a similar role within an insurance company environment
• Strong knowledge of the insurance market, techniques and the legal and regulatory environment
• Approved by MFSA, or fit to be approved
• Excellent command of written and spoken English
• Ability to work independently and within a team

• A Bachelor's degree in law or similar subject
• Financial services qualification from a tertiary education institution or a reputable professional

• Health Insurance
• Parking subscription