About the Role
The company is seeking a skilled individual to join our Supervision (Insurance, Funds and Corporate Authorisations) Department as a Principal. Reporting to an Assistant Director, you will lead a team responsible for regulatory supervision activities, including monitoring insurer performance, regulatory reporting, and taking appropriate supervisory actions in line with legislation and strategic business goals.
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Key Responsibilities
- Undertake on-site reviews and analyze selected businesses and their respective capital models using various risk assessment methodologies to evaluate compliance with existing laws, regulations, policies, plans, and procedures; identify risk issues and formulate reports on findings for submission to and discussion with management.
- Develop agendas and schedules and attend prudential meetings with financial entities to discuss findings; minute discussions/decisions and develop corrective action plans as appropriate.
- Undertake projects related to the department’s supervisory and regulatory responsibilities as requested.
- Monitor the financial market with a focus on developments in the local and international insurance industry, regulatory bodies/regimes, and accounting standards, as well as marketing information on insurance companies through the monitoring of key indicators, newspapers, periodicals, media, and relevant websites.
- Monitor identified companies with compliance issues through reviews, memoranda, and timely direct follow-up with company representatives.
- Review applications in accordance with existing legislation and departmental procedures.
- Review documents, reports, and recommendations from staff on regulatory or operational matters and determine the appropriate course of action.
- Participate in local and international meetings, conferences, and seminars with other regulatory bodies, governmental agencies, and the financial services industry as required.
- Provide senior-level subject matter expertise and advice as required.
- Provide managerial direction, leadership, and supervision to assigned Senior Analysts; support technical and administrative issues leading to the achievement of departmental goals.
- Monitor team performance, provide routine mentoring and feedback, and prepare formal performance appraisal reports as prescribed by the performance management process.
- Identify training needs of direct reports in conjunction with core competencies and 'learning and development' programs; facilitate development through training courses, special projects, or on-the-job exposure.
- Perform other related work and special projects as assigned by management in accordance with competencies normally associated with the post.
Requirements
The ideal candidate must possess a proven technical and business background, including:
- A master’s degree in insurance, financial, or accounting discipline from a recognized institution or professional body is required; consideration will be given to those who hold equivalent qualifications along with substantial relevant professional experience. An extended period of directly related experience may be accepted in lieu of a master’s degree.
- A minimum of seven (7) years of relevant experience, with at least three (3) years at a senior level within a regulated financial services business, preferably in insurance or as a financial services regulator.
- Experience conducting or participating in forensic investigations or inspections is beneficial.
Benefits
The company provides the opportunity for broad exposure to international regulatory issues, special projects, and various work experiences, fostering a challenging and collaborative team environment.
Contract and Travel Details
The specific contract duration and travel expectations will be outlined during the hiring process.
