Risk & Compliance Manager

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A leading international marine insurance company providing P&I, FD&D and War Risks cover to their international membership, are working with GRS to recruit a Risk & Compliance Manager, for their Limassol operation. The successful candidate will have a minimum 5 years risk and/or compliance management experience within the Insurance sector. Your role will see you ensure the Company’s risk, compliance, and other systems of governance, comply with Cypriot regulations and insurance regulations of other EEA States in which business is transacted, and meet Company requirements. If you feel you have the necessary skills and industry experience, then we look forward to receiving your CV for this rewarding Limassol Risk & Compliance Manager opportunity.
  • Ensure the Group Enterprise Risk Management Framework is implemented within the European subsidiary and that it continues to comply with EU regulations.
  • Undertake regular risk and controls assessments in respect of outsourcing risks and other risks specific to the European subsidiary, liaising with the Head of Risk & Compliance (UK) and Quality Manager (UK) as appropriate.
  • Take appropriate actions to ensure risk mitigation actions are completed within agreed timeframes.
  • Preparation and delivery of risk reports to the Audit & Risk Committee (ARC)
  • Assist the CFO with the preparation of the annual Solvency Financial Condition Report and Own Risk Solvency Assessment.
  • Maintain appropriate compliance arrangements to manage and report regulatory risks arising from the Company’s European activity including delivery of an annual compliance plan.
  • Evaluate and provide the ARC with an impact assessment of changes to EU and Cypriot laws, regulations and administrative provisions on the Company highlighting potential risks arising. Where appropriate draft changes to Policies and Procedures to ensure ongoing compliance.
  • Ensure that compliance systems and processes are robust, practical, compliant, and operated and understood within the Company whilst always exhibiting a commercially pragmatic approach.
  • Ensure all EEA State regulatory returns, application forms, and other regulatory notifications are completed on time.
  • Local data protection compliance (i.e. GDPR) and first point of contact for all EEA related data protection enquiries.
  • Money Laundering Compliance Officer – duties include ensuring the Company has appropriate controls in place to prevent financial crime, undertaking appropriate customer due diligence and if required, reporting to MOKAS.
  • Ensuring complaints are responded to in accordance with the Company’s complaint handling procedures.
  • Acting as company secretary to the Company and its Managers, ensuring all statutory filings are completed in accordance with the Companies Law.
  • Maintaining positive and cooperative relationships with the ICCS, auditors (internal and external) and other relevant agencies.
  • Degree level or equivalent. Insurance professional qualification in Risk, Insurance, Business Administration, Finance, or a related field preferred.
  • Professional qualifications, for example: The International Diploma of the Institute of Risk Management or Chartered Insurance Institute (or progressing towards).
  • A minimum of five years risk and/or compliance management experience within the Insurance sector. A detailed knowledge of Solvency II, and Cypriot regulatory requirements is essential.
  • A high level of professional competence, which helps to determine solutions around appropriate risk measures, risk processes, risk monitoring and management. High levels of numeracy required.
  • To be able to communicate with staff at all levels and with external parties; to be diplomatic; and be able to explain ideas and issues in a clear and concise manner both verbally and in writing.
  • To be able to influence others’ decisions and behaviour.
  • Ability to prioritise matters in a manner that is consistent with their importance. Must be able to work to deadlines.
  • Absolute discretion and trustworthiness are imperative.
  • Must be able to maintain awareness of and understand regulatory and industry changes.
  • Must be able to work on an autonomous basis using sound judgment in all dealings with internal personnel and business matters with external advisers.
Due to the high volume of applications we receive at GRS Recruitment, only shortlisted candidates will be responded to.
To apply for this position, please email your CV to Ross Pitman, ross@grsrecruitment.comquoting the above job reference or call +357 25 342 720 for further information.
Job Summary
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    7 May 2021
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  • 1078
  • Ross@grsrecruitment.com