Head of Compliance & Regulatory

About 

Created in 2019, EICL was the UK’s first ever insurtech to secure its own insurance licence. Authorised and regulated by the Gibraltar Financial Services Commission, we provide underwriting capacity to the group MGA, Zego, for personal and commercial motor customers in the UK.

The role

We are seeking an experienced Head of Compliance to join our motor insurance firm based in Gibraltar. The successful candidate will be pivotal in ensuring that our company adheres to all regulatory frameworks applicable to the motor insurance industry, with a strong focus on consumer duty and the protection of retail customers. This role requires a proactive approach to compliance management, regular interaction with regulatory bodies, and the development of robust compliance policies and procedures.

Here’s what you’ll be doing:

• Regulatory Management: Stay abreast of regulatory changes and developments affecting the motor insurance sector. Ensure that all company activities are in compliance with Gibraltar and UK laws and regulations. Act as the primary contact for regulatory bodies in Gibraltar and the UK and manage all regulatory submissions, reporting, and audits.
• Consumer Duty Compliance: Implement and oversee strategies to ensure the company meets its responsibilities towards consumer duty, particularly concerning retail customers. Develop and maintain policies that promote transparency, fairness, and integrity in all customer interactions.
• Policy Development and Implementation: Lead the development and implementation of comprehensive compliance policies and procedures, including a robust Compliance. Ensure these are effectively communicated across the company and fully integrated into all business processes.
• Compliance Monitoring and Reporting: Establish a Compliance Monitoring Plan to ensure continuous compliance and address potential violations of regulatory, legal or company policies. Prepare and present detailed compliance reports to senior management and regulatory bodies.
• Risk Assessment and Management: Conduct thorough risk assessments related to compliance issues, particularly those that affect retail customers. Develop risk mitigation strategies to prevent compliance breaches.
• Training and Development: Develop and deliver training programs on compliance and regulatory requirements to employees at all levels of the organization. Ensure staff are aware of their roles and responsibilities with respect to compliance and consumer protection.
• Stakeholder Engagement: Collaborate with internal and external stakeholders to enhance compliance frameworks and practices. Provide expert advice and guidance on compliance matters to senior management.
• Advising the Board and Executive Management: Act as a key advisor to the board and executive management on all compliance-related matters. Offer strategic insights and recommendations to guide decision-making processes and ensure the company's compliance posture aligns with its strategic objectives.

• Be the Regulated Individual for the Head of Compliance position with the Gibraltar regulator.

What you will need to be successful in the role

• At least 7 years of experience in a compliance role within the insurance industry, ideally motor insurance.
• Deep understanding of Gibraltar’s regulatory environment and international compliance standards relevant to the insurance sector.
• Strong relationship with the Gibraltar Financial Services Commission
• Exceptional organizational, leadership, and communication skills.
• Strong awareness and understanding of Consumer Duty regulations in Gibraltar and the UK.

Note: The primary location for this role would be either in Gibraltar or nearby in Spain. However, occasional travel to the London office may be required.

To be considered for this role, you must be located in / OR willing to relocate to Gibraltar or nearby Spain

#LI-IL1

#LI-REMOTE