Compliance / MLRO - Insurance

Boston Link

To be proactive in providing Compliance solutions to business issues, advice, training and guidance to the Malta business

  • New role with leading global insurance broker
  • Work closely with the business in Malta and London
  • MFSA approved position
Boston Link is pleased to represent a leading international Insurance company in recruiting a Compliance Officer.
To be proactive in providing solutions to business issues, advice, training and guidance to the Malta business in embedding Compliance and operational policies and procedures to maintain a professional standard.
  • To ensure that the company meets regulatory and legal requirements and effectively manages regulatory risk to within risk appetite.
  • To guide and assist Malta office and the UK branch in delivering fair outcomes for customers.
Key Tasks and Responsibilities:
  • Act as first point of contact for and to resolve quickly and efficiently, general compliance queries.
  • Review as required policies and procedures, ensuring that they are in accordance with the overarching policy framework and otherwise meet regulatory standards, enhance risk management and deliver fair outcomes for customers as applicable
  • Provide assistance in resolving Line 2 & Line 3 audit auction points.
  • Review annual Business Plans and provide advice on the effective management of resultant regulatory and conduct risk.
  • Consider the impact of any matters of concern or changes that arise in the business, from our regulators, the insurance market or European Commission
  • Manage breaches and complaints, adjudicate thereon and resolve complaints ensuring appropriate records are maintained and lessons learned with corrective actions implemented to prevent future problems.
  • To assist the Risk & Control Committee in maintaining a risk management framework for the identification of risks to the business.
  • Ongoing maintenance of and reporting on the status of the Risk Register.
  • To maintain a market security analysis function for the assessment and approval of insurers and intermediaries.
  • Review new and existing products in line with policies and procedures.
  • Monitoring and review of changes in status and advice to clients, including controls around account opening and transactions
  • 3-5 years’ experience of Financial Services Regulation and operating in a regulated environment.
  • Necessary attributes and experience to obtain approval from the MFSA.
  • An understanding of or a working knowledge of the regulatory framework.
  • Ability to translate regulatory requirements into proportionate policies and processes.
  • An understanding of or a working knowledge in conducting audit reviews of business activities utilising a risk based approach.
  • Ability to identify opportunities for business efficiency, develop and implement internal systems and controls.
  • An understanding of or working knowledge of the legal and general principles applicable to insurance.
  • An understanding of or working knowledge of the nature and structure of the insurance industry in Malta and London