Compliance Monitoring Officer

Banking and Financial - Accountancy and Insurance


RecruitGibraltar are currently helping our client who is a niche motor insurance company who has a great opportunity for an Compliance Monitoring Officer. The company were established nearly 15 years ago and write business for the motor industry in UK and Ireland. They have modern and efficient systems that enables the business and claims processing from UK based service providers to be executed with ease.

What is the plan for the Compliance Monitoring Officer role?

You will ensure the Company’s operations in Gibraltar function effectively and efficiently and at all times remain in compliance with statutory and regulatory requirements. You will ensure the Company and its functions operate in accordance with ‘mind and management’ requirements from its Head Office in Gibraltar. In addition you will ensure the Company demonstrates suitably robust control not only of its own operation but those of its key Partners, to whom it has outsourced activities.

What will you do as a Compliance Monitoring Officer?

• Establishing Risk-based monitoring programs;
• Conducting monitoring activities, identifying and reporting on control issues and actual or potential exposures;
• Where necessary in relation to specific Risks, supporting the Company’s Risk & Compliance Specialist review the suitability and performance of internal controls but always doing so when monitoring activities, processes or departments of the Company or its outsourced partners;
• Determining compliance with internal policies and procedures;
• Verbally communicating findings to, and agreeing recommendations/deliverables with,relevant management before providing subsequent written reports containing details of such information as well as detailing deliverable owners;
• Managing the closure of monitoring report recommendations;
• Providing monitoring performance management information to the Head of Risk & Compliance for escalation to the Board or the Board’s Risk & Compliance sub-committee; and
• Ensuring that any lessons learnt from auditing is shared across all business areas.

What do you know that makes you a great Compliance Monitoring Officer?

• Have a thorough understanding of regulatory and legal frameworks, compliance, control and governance;
• A thorough understanding of:

o regulatory and legal frameworks; and
o Compliance, Risk Management, control and governance.

• Solid monitoring experience in a regulated financial services environment;
• Strong analytical, written/verbal communication and interpersonal skills;
• Strong planning, managing and prioritising skills;
• Ability to work under pressure and use own initiative;
• Strong report writing skills;
• Must be willing to travel if required

Salary £35k - 40k based on experience plus package.

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