Risk & Compliance Governance Manager

Risk & Compliance Governance Manager

Location:
Gibraltar
Salary:
Competitve
Department:
Governance
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We’re First Central Insurance & Technology Group (First Central for short), an award-winning innovative insurance and technology organisation, delivering market-leading motor insurance, underwriting, distribution, finance, technology and legal services.
 

We currently have an exciting opportunity for a Risk and Compliance Governance Manager to join our Governance team in Gibraltar.

You'll lead Risk and Compliance reporting, framework documentation and RegTech systems for First Central Group Ltd (FCG) and Skyfire Insurance Company Ltd (SICL) incorporating advisory, monitoring and business partnering activity.

Reporting to the SICL Head of Risk and Compliance on a day-to-day basis whilst working closely with the Risk and Compliance Director, you'll define, implement and be accountable for the performance of SICL’s Compliance function, as well as being the RIR Compliance Function Holder and MLRO for SICL.

To be successful in this role, you’ll need to:

  • be Cert CII qualified

  • have substantial understanding of regulatory rules, regulations, principles and codes of practice and of the wider regulatory and legislative framework affecting the financial services sector

  • and preferably operating at senior management level within an Gibraltar FSC or similarly authorised business

                                 

Job Responsibilities:

  • To have an excellent understanding of the key regulatory and statutory rules, regulations, principles and codes of practice incumbent upon SICL in so far as they are relevant to the delivery of appropriate Compliance requirements, and to keep such awareness up to date.

  • To design and deliver a suitable Compliance Framework (CF) to be delivered to SICL, setting out a set of minimum requirements in the delivery of compliance functions across SICL (including but not limited to policy, procedure, process, manuals, monitoring programmes and reporting), and to be responsible for the production of an annual assessment for review by the Audit, Risk and Corporate Governance Committee (ARCGC).

  • To manage the production of Risk & Compliance reports for Boards, audit committees and management forums, including SICL ManCo, ExCo, Group ManCo, Pillar Governance Meetings and Audit Committees.

  • To act as the coordinator and relationship owner within Risk & Compliance for RegTech platforms used within the department.

  • To provide oversight and management of the implementation of all agreed recommendations arising from the Compliance Monitoring Plan, and make recommendations for improvement to the ARCGC and ExCo, attending such committees as required, liasing with the Compliance Monitoring Manager as required.

  • To ensure that all relevant regulatory returns are submitted in accordance with regulatory requirements.

  • To identify and manage any regulatory breaches within the Company

  • To implement, oversee and ensure the efficacy of, the Regulatory Change process, ensuring that these are highlighted, assessed and escalated to ExCo, ARGCC and FCG Ltd as required.

  • To ensure findings of any reviews undertaken by relevant regulatory bodies are brought to the attention of the relevant senior fora and to ensure that appropriate action is taken to address any requirements and recommendations arising from such as reviews, liaising with the Compliance Advisory Manager with regards to this.

  • To be primarily responsible for the management of regulatory change and to act as an advisor to senior management on regulatory matters.

  • To maintain the Regulatory Actions Tracker, ensuring any GFSC queries are responded to in full as required

  • To be responsible for the production of the Regulatory Reports for review by the SICL Audit, Risk & Corporate Governance Committee, and Board.

  • Comply with the requirements, and act in accordance with, the Group Code of Conduct and Fitness and Propriety Policies.

  • To deputise for the Head of Risk & Compliance in Compliance related matters.

  • To provide independent review of performance in relation to TCF and Conduct Risk.

  • To be responsible for the management of the Compliance department, and the relationship management of any outsourced service providers.

Competencies:

Qualifications

  • Recognised compliance, audit or legal qualification preferable

  • Cert CII qualified

Knowledge

  • Substantial understanding of regulatory rules, regulations, principles and codes of practice and of the wider regulatory and legislative framework affecting the financial services sector

  • Material understanding of motor insurance products, premium finance and the motor insurance industry

Preferred experience

  • Operating at senior management level within an Gibraltar FSC or similarly authorised business

  • Substantial compliance experience in financial services, preferably insurance sector

  • Excellent knowledge of Solvency II

  • Business and functional management

Skills

  • Strategic thinking and decision making

  • Analytical thinker with clear ability to distil into key points

  • Excellent communication skills (oral and written) and numeracy

  • Excellent influencing skills, and credible at a senior level

  • Ability to question and obtain information from others

  • Strong attention to detail

  • Problem solving, with the ability to translate issues and find resolutions

  • Excellent organisation, with the ability to meet tight deadlines

  • Competent use of IT and software (i.e. Excel, Word and Powerpoint)

    Behaviours

    • High level of integrity and reliability

    • Leadership on values and corporate policies (including “TCF”)

    • Calm and confident under pressure

    • Demanding and supportive

    So, if you’re up for the challenge and would like to join our vibrant and busy team, we want to hear from you today.

    We pride ourselves on being a great place to work. Check out our Glassdoor page to see what our employees think about working here.

    What can we do for you?
    We believe we can offer you a great working environment as we’re so passionate about our people. Here are just some of the benefits and perks that we offer…

    • Fantastic training and development opportunities
    • Employee benefit packages to suit your lifestyle
    • Flexible working
    • YOUday – we give you an extra day off to celebrate a special day
    • The opportunity to take a paid day off each year to do charity work
    • A health cash plan
    • Help with travel expenses
    • The opportunity to buy additional holiday
    • Company pension scheme
    • Group life assurance
    • Enhanced maternity and paternity pay
    • Professional subscription fees paid

    Employee wellbeing is high on the agenda here too. We provide a weekly free fruit delivery, discounted membership at a local health club and access to an Employee Assistance Programme, which promotes physical and emotional wellbeing at work and at home. In addition, we provide wellbeing events throughout the year to support physical and mental health.

    For further information on what we can offer and to learn more about this role, feel free to contact our dedicated Recruitment team.

    View more about our Benefits

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    glassdoor

    86% of people would recommend a friend to work at First Central

    Based on 150 Glassdoor reviews (October 2021)

    Benefits

    View all benefits >

    Flexible working

    We support colleagues who wish to work flexibly whilst meeting the needs of the business.

    YOUday

    We give you an extra day off to celebrate a special day.

    Holiday Extra

    Not only do you get a generous holiday entitlement, you can also buy additional leave.

    Volunteering

    Get a day off each year to take part in volunteering activities.

    Health cash plan

    Claim money back on your healthcare costs, such as dental check-ups and eye tests.

    Season ticket loan

    We provide interest-free loans to cover the cost of season tickets for rail, bus or car parking.