For a better experience on Cayman Islands Monetary Authority, update your browser.
Cayman Islands
SIX, Cricket Square
PO Box 10052
Grand Cayman KY1-1001
Cayman Islands
linkedin

Follow us on Facebook

linkedin

Follow us on LinkedIn

Call us on

+1 (345) 949-7089

Business Hours

Monday - Friday, 8:30 a.m - 5:00 p.m

Head of Division - Insurance Supervision Division


RESPONSIBILITIES:
The post holder will represent CIMA as members of various regional bodies of insurance supervision
and will:
• Develop, recommend and implement strategies and actions to ensure the Division embraces international best practice of insurance regulation;
• Identify, report and recommend corrective action for any licensees with significant matters of interest or concern;
• Evaluate the Division’s regulatory practices and determine operational plans to ensure continuous improvement;
• Identify and recommend required amendments to legislation and/or regulations, rules, and statements of guidance to ensure the Division embraces the policies of international standard setters;
• Develop and ensure the implementation of standards, policies and practices for the inspection and supervision process of licensees;
• Analyze and manage complex regulatory issues and make recommendations for appropriate corrective action to ensure compliance with regulatory and legislative requirements;
• Cooperates in the exchange of information with home and host supervisors in order to maintain effective consolidated supervision of licensees and CIMA’s reputation and public image;
• Ensure the off-site analytical and on-site inspection processes are carried out in accordance with the policies and procedures of the Division and CIMA;
• Implement processes and provide leadership to ensure the Division has a shared commitment to achieve the goals and objectives of CIMA;
• Ensure performance outcomes and measures are developed and that employee performance is continually monitored and proactively managed;
• Is a positive ambassador at conferences, meetings and events and presents information; bringing back ideas, and makes recommendations to improve the regulatory regime and operations; and
• Build positive, cooperative relationships with licensees and other international regulatory bodies or agencies.

REQUIREMENTS:
• A Bachelor’s Degree (at minimum) and a Master’s Degree (preferred), from an accredited institution in Economics, Business, Accounting or Law; and ten (10) years’experience in insurance regulation, with at least seven (7) years prior experience in a senior managerial position.
• Preference will be given to applicants with professional insurance qualification(s).
• Expert knowledge of international regulatory practices and broad policies and laws affecting other institutions with respect to cross-border and risk-based supervision;
• Advanced knowledge of the Insurance Law, regulations, relevant rules, guidance, policies and procedures relating to the supervision of insurance and (re)insurance companies;
• Extensive knowledge of all Cayman Islands’legislation as it relates to the financial industry, domestic and international supervisory frameworks;
• A broad understanding of international economic and political issues that directly or indirectly affect the strategic objectives of CIMA;
• Advanced knowledge of generally accepted and international auditing/accounting standards;
• Proven exceptional managerial, project management, analytical and strategic planning skills;
• Advanced communication and presentation skills; and
• Sound proficiency in all Microsoft Office applications.

Salary Scale: CI$127,218 - $167,538 per annum
(Only shortlisted candidates will be notified)

Application for Employment

* Denotes Required Inputs