Compliance and Risk Manager

A client of ours specialising in the Insurance industry is currently looking to onboard a Compliance and Risk Manager to join their team of professionals:

Duties:

• Ensure that risk and compliance frameworks are implemented, maintained, embedded and aligned to the Company's operations throughout Europe, meeting the relevant regulatory requirements
• Manage a small team to provide ongoing risk and compliance support to the Head office and the branch network
• Provide expert knowledge in the area of risk and compliance to management and business units regarding regulatory requirements and risk management within their day-to-day operations
• Be the key function holder for Compliance and Risk Management
• Advise the business on key regulatory matters by responding to BAU queries and developing and implementing processes and procedures to meet relevant regulations
• Provide relevant compliance training to the business and compliance colleagues to enhance the understanding of the MFSA requirements
• Maintain and oversee regulatory compliance policies and procedures
• Ensure systems and controls and compliance procedures, support the business plan and the Company’s operations across Europe, ensuring alignment with central operations and relevant regulatory requirements
• Keep abreast of all regulatory developments from the MFSA (and other relevant regulators), assess the impact of change, make necessary updates to procedures and report these to stakeholders as appropriate
• Ensure the timely submission of regulatory returns and regulatory fees and good working relationships are maintained with the Regulators.
• Critically assess and challenge the risk and control registers of each branch to ensure they continue to provide value and assurance to senior management
• Embed the quarterly RCSA attestation programme and perform line 2 control testing in accordance with the control assurance plan to support this.
• Provide regular reporting to the relevant Boards and management teams.
• Ensure Directors and employees are kept appraised of changes which impact their roles and responsibilities.

• In-depth knowledge of current Risk Management practices, including Solvency II Pillar 2 requirements in respect of application to insurance firms
• Working knowledge of MFSA Insurance rules and compliance reporting requirements
• Understanding and working knowledge of other EEA insurance regulatory regimes, preferable but not essential
• Proven track record of working with the MFSA insurance rules and regulations
• Must have excellent verbal and written communication skills in English

• Must hold a Degree level of qualification in a related field