The Cayman Islands Monetary Authority (“CIMA”) is seeking to fill the post HEAD OF INSURANCE SUPERVISION DIVISION and welcomes applications from highly experienced insurance professionals who can act within a strategic capacity to support the mission and values of CIMA by planning and managing all aspects of the Insurance Supervision Division (the “Division”) to ensure that it operates in a consistent, effective and efficient manner.

The successful post holder will be accountable for planning and directing a programme of monitoring and inspections of licensees, the foundation of which is a risk-based approach and consistent with international regulatory best practice.

KEY 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;

. 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.

MINIMUM 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: CI$90,697 – CI$133,558 per annum

Application form and position description are available at: www.cimoney.com.ky/careers

Written applications with a detailed resume can be emailed to [email protected] or mailed to:

Chief HR Officer | Cayman Islands Monetary Authority | P.O. Box 10052

Grand Cayman KY1-1001

Deadline for receipt of applications is 4 June 2014 (Only shortlisted candidates will be notified)