Vice President-Compliance & Risk

Department: Governance, Risk & Compliance Reports To: Chief Operating Officer Vice President-Compliance & Risk is responsible for supporting the construction, implementation and ongoing monitoring of the Blue Ocean Reinsurance Group’s Governance, Risk & Compliance infrastructure to ensure adherence to applicable Laws, Regulations, and Internal policies. This role involves monitoring and reporting on regulatory requirements and working closely with business units to identify and manage compliance risks. In addition to the above those same responsibilities of the role would be mirrored for those of the Blue Ocean’s clients. Key Responsibilities

• Development, review, revision and implementation of compliance policies and procedures for Blue Ocean and its Clients.
• Monitor ongoing compliance with regulatory requirements, including AML/CFT, data protection, and sector-specific laws for Blue Ocean and its Clients.
• Review periodic regulatory filings, including financial returns, capital adequacy reports, and other compliance submissions, ensuring accuracy.
• Conduct compliance reviews and internal audits to assess the effectiveness of controls. Where external parties are engaged for such reviews or internal audits, coordinate the process in collaboration with them.
• Assist with regulatory reporting and submissions to relevant authorities (e.g., CIMA) for Blue Ocean and its Clients.
• Where the registered office is responsible for fulfilling reporting obligations to the Registrar of Companies, ensure these are monitored, with timely reminders and follow-ups as needed for Blue Ocean and its Clients.
• Assist with the service provider and client onboarding process by conducting KYC and due diligence for Blue Ocean and its Clients.
• Develop or liaise with external training providers to prepare training materials and assist in delivering compliance training to staff.
• Assist with investigations and the resolution of compliance issues or breaches.
• Maintain accurate and up-to-date records and documentation for compliance activities.
• Coordinate with clients and legal counsel to facilitate board, shareholder, and sub-committee meetings, while managing internal workflows to ensure delivery of required insurance manager reports for inclusion in the client’s board materials.
• Plan, organize, lead and control all aspects of Blue Ocean Compliance toolcoordinating closely with end users and the vendor to ensure effective operation – for both Blue Ocean and its Clients.
• Attend CIMA, client and service provider meetings, representing the company where necessary on all aspects of Governance, Risk & Compliance.

Qualifications & Experience

• A bachelor’s degree in insurance, Risk Management, or a recognized professional accounting qualification.
• Certified Anti-Money Laundering Specialist (CAMS) designation.
• At least five years of relevant experience in compliance, insurance, risk management, or regulatory roles within the (re)insurance sector.
• In-depth understanding of the (re)insurance industry and the regulatory framework of the Cayman Islands.
• Possession of internal audit qualifications would be an advantage.
• Familiarity with using a tool to monitor governance, risk, and compliance would be an advantage.

What Blue Ocean Offer

• Opportunity to shape the compliance and risk framework and culture of a growing (re)insurance management group.
• Competitive remuneration and benefits.
• An opportunity to advance professionally as the company continues to grow.