Paul Collins’ Post

🔥🔥🔥Qudos Recruitment is hiring!🔥🔥🔥 NEW VACANCY - SENIOR TECHNICAL COMPLIANCE & RISK OFFICER 👇 (INSURANCE) - GIBRALTAR: 👇   Key Responsibilities:   ·      Providing technical expertise when carrying out/ reviewing risk assessments with the aim of understanding key risks faced by firms. ·      Lead the development and effective delivery of the strategic operational plan in a changing market environment. ·      Work closely with the Heads of other sectors to co-ordinate efforts, identify and manage common areas of interest, and identify and manage any potential conflicts in intended outcomes from regulatory activity, including participation in sector specific panels or committee meetings. ·      Maintain a current understanding of relevant market, The Government, UK and other international regulatory developments, their implications for the work of the business, including the identification of risk. ·      Establish an appropriate risk-based approach to the allocation of resources /degree of regulatory response, to ensure the focus is on detecting and addressing the highest risks to the regulatory objectives.  ·      Provide direction for the effective processing of authorisation and supervision-related work to ensure that assessments are conducted in a timely manner, providing oversight in particularly complex and high-risk applications, making recommendations for decisions, and ensuring that any potential risks can be effectively supervised going forward.    ·      Build strong relationships, with a diverse set of stakeholders, including firms, representative bodies, consumers, Governments, the UK, and international regulators   ·      Oversee the management of relevant risks and controls for the team.  ·      Identify, report, escalate and manage risks, risk events, controls, and management actions in a timely manner. ·      Ownership and management of applicable KRIs and SRI’s in line with risk management guidance. ·      Identify risk trends, patterns, and matters of high regulatory risk. ·      Responsibility for ensuring mitigating action is taken to address control weaknesses identified in assurance or audit reviews for own area. ·      Provide strong leadership and effective communication in both the team and across the business.   Skills Required:   ·      Understands and undertakes complex tasks by breaking them down into manageable parts in a systemic and detailed way ·      Manages the risks and challenges for projects and develops contingency plans to mitigate any risks and challenges. ·      Drafts well considered, comprehensive communication for the Board and SMT for the Head to review in the form of policy and reports. Also drafts external correspondence in a clear and concise way. ·      Formulates well-considered policy recommendations for the reporting line to consider. #riskmanagement #compliance #insurance #insurancejobs #gibraltar  

🔥🔥🔥Qudos Recruitment is hiring!🔥🔥🔥 👇 NEW VACANCY - REGULATORY RISK OFFICER (FINANCIAL SERVICES SECTOR) - GIBRALTAR: 👇   The Role:   To assist in the development, implementation and maintenance of regulatory arrangements which enable the business to deliver risk-based regulation that is compliant with relevant international requirements and consistent with international standards. To provide Policy expertise on financial services regulatory policy to inform and support the development and delivery of the business strategic objectives.   Key responsibilities   ·      Act as an effective interface on legislative and regulatory developments. ·      Provide policy recommendations to support the company’s strategic objectives. ·      Provide specialist advice and quality assurance on policy documentation. ·      Assist in the development and review of draft legislation. ·      Manage and facilitate effective co-ordination of policy development and implementation across the business, ensuring operational impacts of new and existing policy and regulation are considered and understood. ·      Provide policy and/or regulatory advice to the companies Senior Management Team, the companies Board and the wider organisation, as required. ·      Develop policy proposals and taking them through internal policy-making processes (e.g., drafting papers, governance, consultation etc.). ·      Conduct research and review evidence to support the development of the organisation’s regulatory approach. ·      Assist in the development and effective delivery of the strategic operational plan in a changing market environment. ·      Build strong relationships with a diverse set of stakeholders, including firms, industry associations, regulators, and other international stakeholders.  ·      Work with industry associations and regulated firms and applicants to understand key risks.   ·      Understand how regulated firms deal with consumers to ensure that these are protected and are treated fairly.  ·      Write comprehensive and accurate memos, reports, policy recommendations and internal and external communications.  ·      Take clear minutes of meetings, forwarding these promptly to meeting participants, making changes as required in a timely and accurate manner. ·      Identify, report, escalate and manage risks, risk events, controls, and management actions in a timely manner in line with the company’s standards and policies. -         Identify, report, escalate and manage risks, risk events, controls, and management actions in a timely manner in line with the business standards and policies (including risk appetite). -         Identify risk trends and patterns and matters of high regulatory risk. -         Responsibility for ensuring mitigating action is taken to address control weaknesses identified in assurance or audit reviews that are relevant to the team’s work. #riskmanagement #gibraltar #financialservices

🔥🔥🔥Qudos Recruitment is hiring!🔥🔥🔥 👇 NEW VACANCY - REGULATORY RISK OFFICER (FINANCIAL SERVICES SECTOR) - GIBRALTAR: 👇   The Role:   To assist in the development, implementation and maintenance of regulatory arrangements which enable the business to deliver risk-based regulation that is compliant with relevant international requirements and consistent with international standards. To provide Policy expertise on financial services regulatory policy to inform and support the development and delivery of the business strategic objectives.   Key responsibilities   ·      Act as an effective interface on legislative and regulatory developments. ·      Provide policy recommendations to support the company’s strategic objectives. ·      Provide specialist advice and quality assurance on policy documentation. ·      Assist in the development and review of draft legislation. ·      Manage and facilitate effective co-ordination of policy development and implementation across the business, ensuring operational impacts of new and existing policy and regulation are considered and understood. ·      Provide policy and/or regulatory advice to the companies Senior Management Team, the companies Board and the wider organisation, as required. ·      Develop policy proposals and taking them through internal policy-making processes (e.g., drafting papers, governance, consultation etc.). ·      Conduct research and review evidence to support the development of the organisation’s regulatory approach. ·      Assist in the development and effective delivery of the strategic operational plan in a changing market environment. ·      Build strong relationships with a diverse set of stakeholders, including firms, industry associations, regulators, and other international stakeholders.  ·      Work with industry associations and regulated firms and applicants to understand key risks.   ·      Understand how regulated firms deal with consumers to ensure that these are protected and are treated fairly.  ·      Write comprehensive and accurate memos, reports, policy recommendations and internal and external communications.  ·      Take clear minutes of meetings, forwarding these promptly to meeting participants, making changes as required in a timely and accurate manner. ·      Identify, report, escalate and manage risks, risk events, controls, and management actions in a timely manner in line with the company’s standards and policies. -         Identify, report, escalate and manage risks, risk events, controls, and management actions in a timely manner in line with the business standards and policies (including risk appetite). -         Identify risk trends and patterns and matters of high regulatory risk. -         Responsibility for ensuring mitigating action is taken to address control weaknesses identified in assurance or audit reviews that are relevant to the team’s work. #riskmanagement #gibraltar #financialservices

#hiring *Operational Risk Officer (VP/Hybrid)*, Jacksonville, *United States*, fulltime #jobs #jobseekers #careers #Jacksonvillejobs #Floridajobs *Apply*: https://lnkd.in/dq5giKjW Same req. as Job Description See "Additional Job Description" for better/more concise information. The Operational Risk Officer is a strategic professional who stays abreast of developments within own field and contributes to directional strategy by considering their application in own job and the business. Recognized technical authority for an area within the business. Requires basic commercial awareness. There are typically multiple people within the business that provide the same level of subject matter expertise. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers. Significant impact on the area through complex deliverables. Provides advice and counsel related to the technology or operations of the business. Work impacts an entire area, which eventually affects the overall performance and effectiveness of the sub-function/job family.Responsibilities:Establishes and oversees the application of operational risk policies, technology and tools, and governance processes to create lasting solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks.Independently assess' risks and drive actions to address the root causes that persistently lead to operational risk losses by challenging both historical and proposed practices.Governance and oversight may include (not limited to) technology operational risk, risk for example.Serves as a subject matter expert for Issues Management (KPI/KRI/Corrective Action Plans)Resolves transactional level escalations coming from the vendor or internal partnersAnalyzes a multitude of scorecards/performance management tools in an attempt to mitigate exposure (risk/financial/regulatory) Monitors goals are met through performance, risk and relationship oversight of our extended supply chainCollaborates to resolve any issues which fall within the terms of the contract.Develops and maintains relationships across the business users and Lines of Defense to better understand and deliver customer requirements by responding to changes in the internal and external business environment Has the ability to operate with a limited level of direct supervision. Can exercise independence of judgement and autonomy. Acts as SME to senior stakeholders and /or other team members. Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business

#hiring *Operational Risk Officer (VP/Hybrid)*, Jacksonville, *United States*, fulltime #jobs #jobseekers #careers #Jacksonvillejobs #Floridajobs *Apply*: https://lnkd.in/dq5giKjW Same req. as Job Description See "Additional Job Description" for better/more concise information. The Operational Risk Officer is a strategic professional who stays abreast of developments within own field and contributes to directional strategy by considering their application in own job and the business. Recognized technical authority for an area within the business. Requires basic commercial awareness. There are typically multiple people within the business that provide the same level of subject matter expertise. Developed communication and diplomacy skills are required in order to guide, influence and convince others, in particular colleagues in other areas and occasional external customers. Significant impact on the area through complex deliverables. Provides advice and counsel related to the technology or operations of the business. Work impacts an entire area, which eventually affects the overall performance and effectiveness of the sub-function/job family.Responsibilities:Establishes and oversees the application of operational risk policies, technology and tools, and governance processes to create lasting solutions for minimizing losses from failed internal processes, inadequate controls, and emerging risks.Independently assess' risks and drive actions to address the root causes that persistently lead to operational risk losses by challenging both historical and proposed practices.Governance and oversight may include (not limited to) technology operational risk, risk for example.Serves as a subject matter expert for Issues Management (KPI/KRI/Corrective Action Plans)Resolves transactional level escalations coming from the vendor or internal partnersAnalyzes a multitude of scorecards/performance management tools in an attempt to mitigate exposure (risk/financial/regulatory) Monitors goals are met through performance, risk and relationship oversight of our extended supply chainCollaborates to resolve any issues which fall within the terms of the contract.Develops and maintains relationships across the business users and Lines of Defense to better understand and deliver customer requirements by responding to changes in the internal and external business environment Has the ability to operate with a limited level of direct supervision. Can exercise independence of judgement and autonomy. Acts as SME to senior stakeholders and /or other team members. Appropriately assess risk when business decisions are made, demonstrating particular consideration for the firm's reputation and safeguarding Citigroup, its clients and assets, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business

Some over ambitious personnel in senior management roles, in regulated entities want their Internal Control & Assurance Functinons comprising of Compliance Oversight Function, Risk Management Function & Internal Audit Function and even the Legal Function be be essentially domain novices, rather domain illiterates with a nefarious scheme to undermine so that these Functionaries are able only to be at the 'surface of things' in th entity. For instance a Risk Head who is essentially an Accountant without any core experience in independently finalizing any company Financials working is assigned to conduct a Risk Control Self Assessment (RCSA) for Credit Underwriting in a Bank having been a Risk Officer is a large bank's Branch with no prior Headquarters/ Corporate Office experience. Similarly, a Compliance Head with experience in a Life Insurer without having signed a single life insurance policy after Underwriting it as required & without having settled a single life assurance Claims cannot be effective to undertake Compliance in Oversight in an Non- Life/ General Insurer . Similarly an Internal Auditor with experience in the FMCG sector cannont conduct effective Internal Audit in an Energy company. Without robust knowledge of the ins & outs of the business/ industry sector, Internal Control Functions run material risk of being severely impaired only scrtaching the surface of operations and failing to identify & flag of serious issues that pose material risk to the Company in terms of its Solvency & long- term financial stability. Those who appoint Internal Control Functions with minimal or no domain knowledge want to run the company without any sustantive independent oversight & thus suppressing material breaches and severe near miss situations which could potentially put regulated entities under high risk of liquidation. Apponting Compliance Oversight Function, Risk Management Function as the 2nd line of defence with solid domain/ industry specifc skill, knowledge, expertise & experience and also the same for Internal Audit Function being the 3rd line of defence with similar or better skills of such experience & expertise of the 1st line of defence shall go a long way to protect the safety and repute of regulated entities and promte the Objectives of the Regulator & keep a handful of domineering personnel who are driven only by vested interests of self- aggrandizement at bay & curb their inveterate tendency to have a free hand with unquestionable sweeping and even dictatorial tendencies which can well usher ruin or severe turmoil in a regulated entity.Pray Prudence Prevails for best sustaining results in the medium and the long term.

#Internal Audit & #Risk Management in the Insurance Sector Overview Internal audit and risk management are critical functions within the insurance sector, ensuring that companies operate efficiently, comply with regulations, and manage risks effectively. These functions help to safeguard assets, enhance the reliability of financial reporting, and improve overall governance. Key Functions 1. Risk Assessment and Management o Identifying Risks: Internal audit teams identify potential risks related to underwriting, claims processing, investments, and regulatory compliance. o Evaluating Controls: They assess the effectiveness of controls in place to mitigate these risks. o Risk Reporting: Regular reports are generated to inform management and the board about the current risk landscape. 2. Compliance Monitoring o Regulatory Compliance: Ensuring adherence to insurance regulations and laws is a primary function. This includes compliance with standards set by regulatory bodies such as the International Association of Insurance Supervisors (IAIS). o Internal Policies: Internal audits ensure that the company’s policies and procedures are followed and updated as necessary. 3. Operational Audits o Process Efficiency: Audits of operational processes, such as claims handling and underwriting, help identify inefficiencies and areas for improvement. o Fraud Detection: Detecting and preventing fraud within the company and in external dealings is a significant aspect of operational audits. 4. Financial Audits o Accuracy of Financial Statements: Ensuring that financial statements are accurate and reflective of the company’s financial position. o Investment Audits: Reviewing investment strategies and portfolio performance to ensure they align with the company’s risk appetite and regulatory requirements. 5. IT and Cybersecurity Audits o Data Security: Assessing the security of sensitive data, including customer information and proprietary business data. o System Integrity: Ensuring that IT systems are robust and resilient against cyber threats.

Our internal audit team is growing! The role of an intermediate compliance auditor at Clayton involves supporting the completion of regulatory compliance audit plans to ensure the effectiveness of business processes, internal controls, and compliance management systems. This position plays a crucial role in providing assurance to both internal and external stakeholders. The focus is on enhancing customer experience, evaluating internal controls, and overall compliance risk management. #ComplianceAudit #InternalControls

𝙍𝙞𝙨𝙠 & 𝘾𝙤𝙢𝙥𝙡𝙞𝙖𝙣𝙘𝙚 - 𝗛𝗼𝘄 𝗶𝘀 𝘆𝗼𝘂𝗿 𝘁𝗲𝗮𝗺 𝗽𝗿𝗲𝗽𝗮𝗿𝗶𝗻𝗴 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗖𝗣𝗦 𝟮𝟯𝟬? Since APRA’s announcement to finalise a new prudential standard, it has been a hot topic. This is not just another regulation change; it's a crucial development in risk management. Recent lapses in risk management, particularly in the wake of high-profile cyber-attacks, have highlighted the need for stronger operational management, improved business continuity, and better management of third-party risks. Non-compliance with CPS 230 will result in significant penalties. As the July 2025 deadline approaches, it's crucial to have the right talent on your team to avoid significant penalties, regulatory sanctions, and reputational damage. We predict a high APRA-regulated industry will need to show: • Board accountability for operational risk management • Effective operational risk profiles based on appetite are in place, and adequate IT systems are needed. • Defined risk tolerance levels • Robust third-party vendor risk management policies • Effective controls are in place that are continuously monitored and tested If you want to grow your team or need some insights into the current talent market, don’t hesitate to contact Shauna Brennan today for a discussion. 𝗦𝗵𝗮𝘂𝗻𝗮 𝗕𝗿𝗲𝗻𝗻𝗮𝗻 | 𝗦𝗲𝗻𝗶𝗼𝗿 𝗥𝗲𝗰𝗿𝘂𝗶𝘁𝗺𝗲𝗻𝘁 𝗖𝗼𝗻𝘀𝘂𝗹𝘁𝗮𝗻𝘁 | 𝗟𝗲𝗴𝗮𝗹, 𝗥𝗶𝘀𝗸 & 𝗖𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲 📱 +61 429 098 986 📧 Shauna@kennedyreid.com.au #KennedyReid #RecruitmentAgency #Recruitment #LegalRiskCompliance #Insurance