Compliance Officer

Compliance Officer - Insurance - Dubai, UAE

An experienced Compliance Specialist is required to join a growing brand within the Insurance market. The successful candidate will contribute to shaping and implementing the Compliance Plan across the Company and will be responsible for all compliance activities.

The role is Dubai, UAE based - relocation required. Company Visa and relocation assistance if needed.

Key Duties:

• Leading the compliance team in identifying and analysing any compliance risks in the Group’s operations, claims, and controls
• Provision and contribution to the development of a risk-based annual Compliance Plan
• Implementation of monitoring reviews
• Responsible for all aspects of the Company's regulatory and legal obligations, ensuring continuous adherence and appropriate monitoring to substantiate compliance
• Contributing to the overall effectiveness and value of the Compliance function by recommending and developing innovative approaches and solutions
• Preparation of constructive proposals to improve the effectiveness of the Compliance review process
• Collaborate with the internal audit & finance function to ensure audits are carried out on key risks, and risks identified in audits are appropriately recorded and managed
• Collaborate with the complaints team to ensure material and process are Regulatory compliant, reporting is appropriate. Reviewing root cause analysis and corrective actions noting any risks and ensuring ongoing development to mitigate any risks and ensure compliance
• Providing clean and practical guidance to the brokers and advisors to meet changing regulatory requirements
• Management of internal relationships and contact with the Regulator
• Preparation of compliance reports to specified standards including format, style and timeliness with the need for minimal changes
• Provision of clear and sufficient evidence to ensure it supports the findings
• Negotiation with senior management to ensure that the recommendations are agreed and acted upon
• Formal reporting preparation and carrying out to management on progress versus plan, the status of outstanding monitoring issues and progress of remedial actions
• Ensure compliance information is cascaded to all staff and ensure compliance is covered appropriately in the training programme

Person Specification:

• Persistence - high energy to see things through. Able to change direction/tactics when appropriate
• Creativity – able to overcome obstacles and is solutions focussed
• Extensive experience operating in the Compliance department in the UK regulatory environment (minimum 10 years) including experience of the Insurance market
• Dip ACII or ICA Qualifications
• Commercial awareness and focus on the application of regulation within the insurance broking industry
• General insurance industry understanding
• Knowledge of relevant legislation and regulations
• Broad knowledge and understanding of insurance principles, products and services
• An ability to interpret, understand, maintain, and advise the business on a broad range or legal and regulatory issues.

This is an excellent opportunity for an experienced and talented senior risk & compliance individual who wishes to work for an expanding, innovative business.