International Insurance Group

English and Arabic mandatory

About Our Client

Our client is a leading international Insurance group.

Job Description

• Responsible for identifying and assessing the compliance risk to which the subsidiary/hub is exposed in the course of its activities, in order to reduce the risk of regulatory sanctions—which could lead to financial losses or criminal actions—as well as the resulting loss of reputation.
• Ensuring adequate coverage of the subsidiary/hub's operations and activities to provide assurance on the adequacy and effectiveness of the processes in place to ensure compliance with relevant laws/regulations (including anti-money laundering and countering the financing of terrorism laws/regulations).
• Preparing and implementing annual compliance and internal control review plans and submitting them to Group management for approval.
• Implementing specific steps in the compliance program to ensure adequate coverage across the subsidiary (including anti-money laundering and countering the financing of terrorism activities).
• Implementing a permanent control system for major risks.
• Oversee accounting and financial information, particularly the conditions under which this information is recorded, retained, and disclosed.
• Verify compliance with management procedures and standards established by senior management.
• Conduct ongoing compliance audits in accordance with the approved annual compliance plan.
• Process, as applicable, KYC requests received from business partners, ensure the completeness of forms, and ensure that the required documents have been submitted.
• Ensure the implementation of recommendations from internal audit, the regulator, and external auditors regarding internal control and compliance.
• Ensure the integration of new regulations into subsidiary procedures.
• Submit periodic reports detailing instances of non-compliance with regulations and statutory requirements.
• Create an internal control file for all subsidiary activities and determine the frequency of each control procedure (daily, monthly, etc.) based on the risk involved and the effectiveness of current procedures.
• Liaise with the regulator whenever necessary, answer questions and communicate issues raised by the regulator, and follow up on these issues until their final resolution.
• Implement anti-money laundering policies.