Job Description

Michael Page Governance has partnered with an organisation in the Insurance industry who are seeking their next Head of Risk & Compliance. Reporting directly into the CEO and the Risk committee this is a meaningful leadership role that is suited to a Risk & Compliance leader from the Financial Services industry.Accountabilities:1. Risk Management

• Responsible for establishing and maintaining Risk Management Framework and Policies/Procedure/Manuals that contains uniform Enterprise Risk Management (ERM) and Environmental Sustainability Governance (ESG) standards and guidelines.
• Monitoring market conditions and making recommendations for strategic changes in business operations based on emerging risks.
• Implementing internal controls such as policies, procedures, and awareness training to ensure compliance with laws and regulations and company\'s risk culture.
• Creating comprehensive risk assessments of the company\'s activities, identifying potential risks and mitigation strategies, and monitoring risk levels over time.
• Developing a risk management strategy that aligns with the company\'s overall business strategy.
• Recommending insurance coverage that will adequately protect the organization against potential losses.
• Analysing data and make recommendations regarding new products or services that may pose risks to the company.
• Recommending changes to operations or procedures to eliminate or mitigate risk.
• Implement and manage the Business Continuity Management framework and activities.

2. Compliance

• Ensure the effectiveness of management of compliance and regulatory risk issues through the establishment and maintenance of appropriate and effective frameworks and procedures to avoid any financial and reputational loss.
• Advise all business units and support functions on establishment and implementation of effective systems, procedures, and controls for compliance with requirements and standards under the regulatory system which includes compliance risk management, anti-money laundering, ESG and data protection procedures.
• Disseminate new/amended regulations, perform appropriate review/assessment to evaluate the adequacy of internal control put in place by business and support units within the bank to manage regulatory compliance and AML/CFT risk, and promptly follow-up on any identified deficiencies and plans to address such deficiencies.
• Advise the Board, Senior Management, and business and support units on regulatory requirements, this includes keeping them informed on the developments affecting legal and regulatory requirements and providing the Board and Senior Management with an assessment of their implications on compliance risk profile and capacity to manage risk going forward;
• Conduct annual risk assessments, identify the risk areas, and prepare Compliance Work Plan accordingly.
• Develop, oversee and continuously review AML/CTF systems to ensure they remain up-to-date and meet current statutory and regulatory requirements.
• Liaise with and act as the principal point of contact for regulatory authorities.
• Conduct regulatory compliance/AMLCFT training, including new staff induction training, periodic compliance training, and targeted training, etc.

3. Reporting

• Prepare, submit, and maintain reports on the status of the ERM and compliance to the Management, Risk Committee and Board on regular basis.
• Reporting of any non-compliance matter and preparing the Annual Compliance Report

Transformative role. Lead the development & growth of the function|Reporting into the CEO & Risk CommitteeTo be considered for this role you will have a track record as Head of Risk & Compliance ideally within the Financial Services sectors (banking/insurance). You will have strong leadership, interpersonal and communication skills. The role will require somebody with resilience and the ability to be assertive. A professional qualification in risk is required.Our client is in the Insurance industry.The successful candidate will enjoy great benefits, medical coverage, access to performance bonuses and work/life flexibility. This is a meaningful role within the organisation with a direct line into the CEO, so the Head of Risk & Compliance will play an important role in transforming and growing the Risk & Compliance function aligned to the corporate growth strategy.

Michael Page