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Junior Risk Officer

Junior Risk Officer is being sought by an established insurance company, with its operations being setup in Malta, who will execute and report to the Risk Manager in fulfilling the Risk Management function. 

Job Description: 

  • Assist the Risk Manager in maintaining the Risk Management Framework systems and processes, and to support the identification and evaluation of the key risks facing the company 

  • Report to the Risk Manager on findings in the risk assessment exercise and the coordination of risk mapping 

  • Maintain risk related information in a format that is easily retrievable 

  • To assist in the completion of corporate risk models and the standard formula 

  • Supporting the Risk Manager with the development of an effective risk culture across the business 

  • Working closely under the guidance of the Risk Manager with risk related functions such as internal audit, actuarial, compliance, underwriting and finance 

  • Supporting the Risk Manager in maintaining compliance with the system of governance requirements under Solvency II and promoting sound corporate governance practices 

  • Contribute towards the Company’s Business continuity plan and Disaster Recovery plan. 

  • Monitor compliance with investment parameters on a regular basis; 

  • Assist the Risk Manager in the oversight of Complaints Management delegated to outsourced providers; 

  • Assist the Risk Manager in monitoring and ensuring that the company remains compliant with the GDPR and the Data Protection Act; 

  • Maintain and report to the Risk Manager quarterly register from appointed MGAs relating to Complaints Management, GDPR matters, Fraud Management and IT related registers. 

Requirements 

  • In possession of a Bachelor’s Degree in business administration, insurance, finance, mathematics or relevant subjects at a Malta Qualification Framework (MQF) Level 6 or better; 

  • Strong command (especially written) of the English Language 

  • Good understanding of the nature and dynamics of Risk and financial markets where the market context is highly complex, rapidly changing or is unprecedented; 

  • Good skills in relationship building, active listening, needs analysis, advanced analytical skills; 

  • Not be afraid to take responsibility; 

  • Ability to multi-task, meet strict deadlines, and produce high quality work; 

  • Interested and keen on IT developments that can be used to improve processes and/or results; 

  • Willing to learn and grow, even in areas where the candidate is not familiar with; 

  • Available to travel abroad for work related matters; 

  • Knowledge of the insurance market, underwriting philosophy, techniques, national/local regulatory environments and guidelines will be considered an asset; 

  • Knowledge of foreign languages especially French, German and Dutch will be considered an asset. 

Benefits 

  • Attractive Remuneration Package 

  • Monday – Friday hours 

  • Flexi / Hybrid Hours considered on a case-by-case basis 

  • Health Insurance 

  • Laptop 

  • Parking