Function name: Governance, Risk & Compliance Officer (Location FRENCH St.Martin)
Reports to: Chief Governance, Risk & Compliance Officer

Job purpose:

The Governance, Risk & Compliance (GRC) Officer holds dual responsibility for local and corporate GRC matters. This role involves managing internal and external risks for NAGICO Companies, specifically in French St. Martin and Antigua. Additionally, they will serve as the Money Laundering Reporting Officer (MLRO) for these regions, subject to legal constraints. Reporting to the CGRC Officer, the GRC Officer will maintain a functional relationship with the territory and branch managers in the mentioned areas. The position is based in St. Martin, and corporate GRC duties will be assigned as needed by the GRC Officer Manager, including coordinating Board reports, drafting and implementing Group GRC policies, and providing support in the Risk Function.


Key Responsibilities:

1. Advocate for a culture of ethics and promotion of adequate risk management with respective territories.
2. Takes action to drive and achieve a high level of compliance within NAGICO, especially in AML&CTF.
3. (Timely) identification and update of legislative insurance requirements (including but not limited to AM/CTF/International Sanctions, FATCA, data privacy, financial reporting, complaints management) within respective territories, assess its impact on the organization and advice the business on implementation.
4. Assist with the establishment and maintenance and update of the Company’s policies and procedures and assist and advise management in implementation.
5. Report on a regular basis to the Group Chief GRC Officer on any weaknesses (including those identified by the Regulator and/or Internal Audit Department) which require correction, advise on mitigating measures, and monitor that corrective action is appropriately taken.
6. Conduct self-assessments/ compliance reviews, to determine the level of compliance of the companies with our policies and procedures as well as local laws and regulations (including those governing the detection and deterrence of money laundering, terrorist financing and international sanctions).
7. To analyze transactions and verify whether any are subject to report as unusual or suspicious transactions.
8. Ensure compliance with financial reporting requirements.
9. Coordinates all supervisory visits by regulators as it relates to relevant territories
10. Maintain relevant registers/logs (e.g., training, incidents, breaches, SARs received internally, SARs reported to the relevant authorities, correspondence to and from the authorities, complaints etc.).
11. First point of contact for the relevant regulators. Currently: ACPR and FSRC.
12. Carries out or assists in internal investigations and confidential reporting for the purposes of suspicious activities reports or other such reports;
13. Ensure that a risk assessment, in relation to money laundering and terrorist financing, is conducted on each customer. Ensure ongoing monitoring of our customers from a money laundering and terrorist financing perspective. Ensures the sign off of high-risk customers and provide enhanced due diligence advice to operations team(s);
14. Monitors & ensures that all reporting to the authorities is done in a timely manner and in accordance with the law.
15. Follows up on the remedial action taken by NAGICO as it relates to areas of weakness identified;
16. Ensure that the local Governance Risk and Compliance programs are designed to optimize their effectiveness in preventing or detecting non-compliance, unethical behavior and/or criminal conduct.
17. Coordinates and advices on corporate risk management topics
18. Keeps abreast of current trends and practices within the governance, risk and compliance fields; and

Knowledge & Experience:

–          A minimum of five (5) years of experience in the compliance and/or risk management field within the financial services industry;

–          Maintenance of a compliance and/or risk management professional designation/qualification

–          Is a professional, partner in business, proactive and leads by example (in line with the GRC departmental values)

–          Has and is knowledgeable of and experienced with the compliance/AML/CTF/IS/risk regulations;

–          Fluency in English and French is a must

–          Should be of high integrity, critical, persistent, analytical and deadline oriented;

–          Knowledge of the life and non-life insurance industry; and

–          Must be able to work independently.


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The NAGICO Group has been in existence since 1982 and provides a myriad of property and casualty as well as life products and risk solutions to its customers, who are situated throughout the Caribbean; it is a dynamic and versatile group.

Through an exceptional understanding of the insurance business, our customers’ needs and the environment within which we operate, combined with the excellent support of our most valuable assets: our intermediary relationships, staff and reinsurance partners, the NAGICO Group has established an impressive and formidable presence in the Caribbean; operating within 21 territories.