Head of Compliance / MLRO

A reputable client of ours specialising in the Financial ( Insurance ) sector is looking to onboard a highly experienced and well versed Head of Compliance/ MLRO to join their expert team of professionals; The designated person will be working closely with and reporting to the CEO and Board of Directors:

Duties:

• Provide expert compliance advice to the Board and Senior Management on regulatory developments
• Monitor changes in legislation and regulatory requirements, assessing their impact and advising on necessary adjustments to policies, procedures and processes
• Promote a strong compliance structure across the organisation by increasing knowledge and awareness, as well as ongoing training
• Oversee regulatory reporting and submissions assuring accuracy and timeliness
• Build and lead a high performance compliance team fostering professional development and expertise in the regulatory landscape
• Conduct regular compliance risk assessment identifying potential vulnerabilities and recommending mitigations
• Oversee the performance and effectiveness of the compliance team
• Ensure there is adequate knowledge throughout on the respective internal reporting requirements relating to funds being the proceeds of any criminal activity; and/or funds relating to the funding of terrorism
• Develop and implement a comprehensive compliance strategy aligned with the Company's underwriting objectives and regulatory requirements
• Ensure that yearly reporting obligations ( REQ/BRA) are submitted
• Sign off/review new products and business initiatives as compliant with the applicable regulatory requirements; as well as the onboarding / maintenance, and exiting of client relationships, as may be appropriate
• Ensure that adequate AML/CFT training is provided to all staff and intermediaries on a regular basis
• Document periodical updates on Financial Crime Compliance issues in reports submitted through government structures
• Submit external STRs in relation to knowledge or suspicion of ML/FT to the FIAU within the timelines established by the appropriate regulatory framework

Requirements

• A proven track record of interacting with the regualtors
• Must be PQd as a Head of Compliance and MLRO, or eligible to be
• A minimum of 8 years experience , ideally holding significant exposure to the insurance industry
• In depth knowledge of governance standards; AML/CFT, Data Protection, and insurance regulations
• Previous MLRO experience with sound knowledge of local and EU regulatory tools implementing Data Protection requirements

Education and Experience

• Compliance and AML Certifications and/or credentials
• Must be in posession of a Degree in Business , Economics, and/ or Law

Job Reference: AC749