At a Glance
- Tasks: Lead insurance supervision and enhance regulatory frameworks in a dynamic environment.
- Company: Join a forward-thinking authority shaping the future of insurance in the Isle of Man.
- Benefits: Enjoy a competitive benefits package, including flexible working and professional development opportunities.
- Other info: Opportunity for strategic influence and career growth in a supportive environment.
- Why this job: Make a real impact on insurance regulation while collaborating with diverse teams.
- Qualifications: Professional qualification in financial services and extensive industry experience required.
The predicted salary is between 40500 - 49500 £ per year.
Our client is seeking a Head of Insurance to provide strategic leadership within the Prudential Supervision Division.
This full-time position based in the Isle of Man involves overseeing the supervision of the insurance sector, ensuring adherence to regulatory frameworks.
The role focuses on enhancing the prudential and conduct supervision of various insurance entities, including life insurers, general insurers, captive insurers, and insurance intermediaries.
The Head of Insurance will be responsible for leading the Insurance Supervision and Policy teams, implementing risk-based supervisory practices, and maintaining compliance with relevant legislation and international standards.
This position is integral to supporting the Executive Team in strategy setting, risk management, and corporate culture enhancement, with the potential for additional tasks as required.
JOB DUTIES
- Lead the Prudential Supervision Division’s mandate concerning insurance supervision and regulatory frameworks.
- Guide the Insurance Supervision and Policy teams to ensure effective and timely completion of deliverables.
- Oversee risk-based prudential and conduct supervision for insurers and other licensed entities.
- Manage and develop the supervisory team, fostering a high-performance culture through leadership and development initiatives.
- Implement the Authority’s Supervisory Methodology for insurance, ensuring effective governance and quality assurance.
- Formulate and execute supervisory plans for insurers, tailored to specific group and sector risks.
- Conduct risk assessments for the insurance portfolio, ensuring they are evidence-based and reflective of current data.
- Identify and analyse emerging trends within the insurance sector.
- Review regulatory submissions and ensure compliance with legislative requirements and the Authority’s procedures.
- Manage breaches, complaints, and complex supervisory issues, escalating as necessary.
- Enhance data accuracy and quality within supervisory systems, supporting ongoing improvements in analytics and reporting.
- Contribute to the evolution of the regulatory framework for insurance, aligning with international standards.
- Foster relationships with industry stakeholders, regulators, and governmental bodies.
- Represent the Authority in various forums and meetings, providing updates and insights on supervisory matters.
- Support the Insurance Supervision plan delivery through effective oversight and governance.
- Encourage cross-departmental collaboration and contribute to strategic planning within the Authority.
- Actively promote a risk-based culture, supporting operational improvements and innovation.
- Assume the role of Information Asset Owner for the Insurance Supervision function as required.
- Adhere to the Authority’s operational policies and perform any duties assigned by the Chief Executive or Board.
JOB REQUIREMENTS
- Holds a professional qualification relevant to the financial services industry.
- Evidence of continuing professional development (CPD) is essential.
- Extensive industry experience in operational, actuarial, compliance, or audit roles within the insurance sector is essential.
- Proven strategic leadership experience with a collaborative management style is essential.
- Experience working for a financial services regulator in a supervisory role is desirable.
- Demonstrates extensive knowledge of insurance sector legislation and financial industry trends.
- Exhibits strong leadership skills and the ability to mentor and inspire team members effectively.
- Possesses excellent verbal and written communication skills.
- Holds strong analytical abilities with a flexible approach to problem-solving.
- Is attentive to emerging issues and able to adapt strategic plans accordingly.
- Able to manage multiple priorities under pressure and meet deadlines effectively.
- Demonstrates strategic thinking, planning, and decision-making skills.
- Capable of contributing to broader Authority initiatives.
WHAT YOU'LL LOVE
This role offers the opportunity to shape the future of insurance supervision in the Isle of Man, work collaboratively with a diverse team, and influence regulatory frameworks.
With a commitment to professional development and a supportive environment, you will have the chance to engage with key stakeholders and work on strategic implementation within a dynamic landscape.
The position includes a comprehensive benefits package, including a defined benefit pension scheme, death in service benefits, and flexible working arrangements.
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Head of Insurance employer: Itchyfeet Recruitment Agency
Itchyfeet Recruitment Agency is an excellent employer, offering a dynamic work environment where collaboration and operational efficiency are at the forefront. Employees benefit from a supportive culture that prioritises professional growth and continuous improvement, making it an ideal place for those seeking meaningful and rewarding employment in the UK.
Contact Details:
Itchyfeet Recruitment Agency Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Head of Insurance
✨Dive Into Industry Networking Events
Get your foot in the door by attending insurance industry events and conferences. Not only will you learn about the latest trends, but you'll also meet potential employers and industry peers. Check out local chapters of professional bodies like the Chartered Insurance Institute for valuable meetups.
✨Use LinkedIn to Your Advantage
Don’t underestimate the power of LinkedIn in the insurance world. Engage with industry content, join relevant groups, and connect with professionals at companies you admire (like Itchyfeet Recruitment Agency). A thoughtful message explaining your interest can really make a difference!
✨Look Out for Graduate Schemes
Many firms in insurance have structured graduate programmes. Keep an eye on application windows and utilise your university's career services for insider tips. These schemes are designed to develop talent and often lead to permanent roles after your initial training.
✨Leverage Your Current Connections
Got friends or family in the industry? Now’s the time to reach out! Personal referrals can give you a head start, so let them know you're on the lookout for full-time opportunities at places like Itchyfeet Recruitment Agency. Don’t shy away from asking for a coffee chat; you never know what doors it might open!
We think you need these skills to ace Head of Insurance
Some tips for your application 🫡
Highlight Your Analytical Skills:In insurance, we love a candidate who can crunch numbers and analyse data effectively. When crafting your CV, make sure to showcase any relevant coursework or experiences that highlight your analytical abilities, especially if you’ve tackled risk assessment or financial modelling.
Showcase Industry Knowledge:Don’t be shy about your knowledge of the insurance sector! We want to see that you've done your homework on current trends, regulations, and challenges in the industry. Mention any relevant projects or studies you’ve completed that demonstrate your understanding of the field in your cover letter.
Craft a Compelling Cover Letter:Your cover letter should tell us why you’re passionate about insurance. Share any personal experiences or what drew you into this profession. We’re looking for enthusiasm and a clear motivation for why you want to be part of our team at Itchyfeet Recruitment Agency.
Tailor Your CV for the Role:Don't just send a generic CV! Focus on tailoring it specifically for the insurance role at Itchyfeet Recruitment Agency. Highlight relevant skills such as risk management, customer service experience, or any certifications you've earned in the industry to make your application stand out.
How to prepare for a job interview at Itchyfeet Recruitment Agency
✨Know Your Numbers: Insurance Fundamentals
Brush up on your understanding of key insurance concepts, like underwriting principles and risk assessment. Expect the interviewer at Itchyfeet Recruitment Agency to throw some technical questions your way, so be ready to demonstrate your grasp of these essentials.
✨Showcase Your Analytical Side
In the insurance world, it's all about data. Prepare to discuss any analytical tools or methodologies you've used in past experiences. If you have a portfolio of projects where you've tackled complex data, bring that along to impress the team!
✨Prepare for Behavioural Questions
As a full-timer at Itchyfeet Recruitment Agency, they'll want to know how you handle real-life scenarios, not just theory. Think about challenges you've faced in teamwork or customer service, and how those experiences can relate to a career in insurance.
✨Know the Company Culture Inside Out
Understanding Itchyfeet Recruitment Agency's values and workplace culture is essential. Don’t just memorise their mission statement; think about how your personal values align with theirs. This will show your genuine interest in being part of their team long-term.
