Risk and Compliance Manager

Indigo Insurance is dedicated to revolutionizing the insurance industry with cutting-edge technology and exceptional service. We pride ourselves on providing innovative solutions tailored to meet the unique needs of our clients throughout the Caribbean. At Indigo Insurance, delivering seamless and customer-centric experiences is at the core of everything we do. Join a company where innovation and service excellence redefine the insurance journey.Reporting LinesDirect (solid line): Entity CEO/COOFunctional (dotted line): Group Head of Risk and Chief Risk and Compliance OfficerLocationThe Bahamas (with responsibility for Cayman Islands and Turks and Caicos Islands)Role Purpose:The Risk and Compliance Manager is responsible for the design, implementation, and ongoing operation of effective risk management and regulatory compliance frameworks across a group of regulated insurance entities, including a general insurer, insurance broker, and insurance agency operating in The Bahamas, Cayman Islands, and Turks and Caicos Islands.The role operates as an independent second-line function, providing oversight, challenge, monitoring, and advice to management while ensuring compliance with applicable insurance, AML/CFT/CPF, conduct, governance, and prudential regulatory requirements in each jurisdiction.Key Responsibilities:• Maintain compliance frameworks for insurance and intermediary regulations• Ensure ongoing compliance with all relevant laws, regulations and internal policies• Coordinate regulatory filings and examinations• Oversee risk rating of new policies and periodic risk reviews of existing policies.• Approve high risk transactions and conduct enhanced Due Diligence.• Implement and maintain risk management framework across all entities• Identify and review of suspicious and unusual transactions• Deliver AML/CFT awareness training at onboarding and on an annual basis• Coordinate and deliver training for staff on regulatory and compliance matters• Collaborate with business functions to create and promote risk and compliance culture• Assist in compiling and analyzing key risk indicators across departments within the Company• Implement an Operational Risk Incident Reporting framework• Collate, analyze and report on operational risk incidents within the entities• Coordinate the business continuity management framework• Assist senior management with establishment of risk appetite and tolerance levels• Compile, evaluate and report risk information to management and the Board• Be primary point of contact for applicable authorities on regulatory matters• Keep abreast of applicable regulatory and AML/CFT matters and monitor compliance• Serve as Deputy MLRO and/or Designated Reporting Officer• Ensure proper review and monitoring of complaints• Draft and update risk management and compliance policies and procedures• Facilitate annual and periodic risk assessments across all entities• Maintain entity-level risk registers and monitor Key Risk Indicators (KRIs)• Perform such other related functions as required by management and the entitiesQualifications & Experience• Bachelor’s degree or higher from an accredited college or university in finance, business administration, economics, accounting, or related field is required• Professional qualification in Risk Management and relevant Anti-Money Laundering Certification (or intention to acquire with 6 – 12 months of hire)• Proven experience in enterprise risk management and compliance within regulated environments• Experience operating across multiple jurisdictions is highly preferred• Minimum of 3 – 5 years of experience in a management or leadership role within risk management, audit, and/or compliance function• In-depth understanding of risk management frameworks, regulatory requirements, and industry-specific laws• Demonstrated experience leading the development and implementation of risk management and compliance frameworksRequired Skills and Knowledge• Effective analytical, problem solving and reporting skills• Must be a team player and have the ability to work as part of a team• Proficiency in computer software applications including Microsoft Office• Ability to work under minimal supervision• Ability to pay careful attention to detail• Ability to multitask and prioritize multiple complex projects• Excellent oral and written communication skills.• Strong organizational skills• Ability to create, implement, monitor and make recommendations for improvements to a risk and compliance culture• Strong knowledge of relevant multi-jurisdictional insurance and AML/CFT laws, regulations, guidance notes, and international best practices• Ability to remain confidential