Risk and Compliance Officer

€50,000 - €60,000  |  Malta

One of our clients specialising in Financial Services and the Insurance industry is currently looking to onboard a highly experienced Risk and Compliance Officer to join their growing team of professionals:

Duties:

  • Design and implement the Risk Management Framework tools, systems and processes
  • Collate and validate risk information and Maintain the Risk Register of the Company
  • Identify controls, mitigation techniques and strategies for the risks of the company and evaluate the residual risks
  • Prepare required risk reporting for any Board Committees and for the Board and maintain proper records
  • Work closely with risk-related functions such as internal audit, actuarial, underwriting and finance
  • Ensure the company satisfies its authorisation requirements in terms of the Insurance Business Act, Regulations and Insurance Rules issued thereunder, the Insurance Distribution Rules as well as the Conduct of Business Rules 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 activities outside Malta and those outsourced to third party service providers
  • Monitor compliance and identify any breaches and escalate them to the Risk & Compliance Committee and where necessary to the Board and the MFSA
  • Prepare a compliance plan on an annual basis and quarterly compliance reports to the Risk & Compliance Committee;
  • Maintain training and CPD records for relevant persons
  • Provide training on regulatory matters to staff and management as necessary

Skill-sets and Requirements

  • Strong knowledge of the insurance market, techniques, and the legal and regulatory environment
  • Strong decision-making skills and the ability to work well under pressure
  • Comfortable and able to work as part of a team as well independently
  • Excellent oral and written communication skills in both Maltese and English
  • Ability to work against stringent deadlines

Education & Experience

  • Must be in possession of a Bachelor’s degree in law, risk management,/business administration, finance or similar fields
  • Approved by the MFSA, or fit to be approved
  • Minimum 4 years’ experience ideally with insurance background, or Financial Services
  • Strong knowledge of the insurance market, techniques, and the legal and regulatory environment

Job Reference: OL598


  • Primary job focus
    Compliance
  • Job type
    Full Time
  • Employment level
    Middle Management
  • Employer industry
    Financial Services
  • Languages
    English, Maltese
  • Job Reference
    OL598
  • Closing Date
    31/07/2021
  • Date Published
    08/06/2021
  • Status
    Shortlisting

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