Analyst I

The Analyst is responsible for monitoring an assigned portfolio of insurance licensees and participating in risk-focused on-site inspections to achieve the legislative requirements and the goals and objectives of the Division and CIMA.

RESPONSIBILITIES:

The successful candidate will:

• Gather and analyse information on licencees to assess prudential risks and compliance with relevant legislation, policy and guidance;

• Process applications and prepare submissions or reports for new licences, license cancellations and business plan changes;

• Identify licensees who are in contravention of the applicable Acts or do not meet regulatory requirements and determine appropriate recommendations to senior members of the team;

• Investigate complaints against licensees by customers, policyholders, creditors and other stakeholders;

• Participate in inspecting licensee’s on-site records to determine the risk management and business operations including solvency, internal controls, management competency, and compliance with relevant Acts and Regulations;

• Attend and participate in interviews with auditors or licensees to confirm findings of the on-site inspection;

• Draft pre-inspection and inspection reports to determine inspection scopes and recommendations for improvement based on findings, and follows up to ensure compliance with recommendations;

• Perform due diligence on persons applying to act as directors, shareholders, managers, senior officers and controllers of licensees to determine fitness and propriety;

• Gather, analyse, and produce statistics with respect to the insurance industry to assist with special projects; and

• Provide orientation or on-the-job training to new co-workers on same job.

REQUIREMENTS:

• A Bachelor’s degree; preferably in a finance related field; or active and on-going enrolment or completion in Professional insurance qualification through the Chartered Insurance Institute or its equivalent; or willingness to acquire professional insurance qualifications; and

• Three years of relevant and related experience in the insurance industry.

• Basic knowledge of accounting principles and analytical skills to analyse the implications of financial statements as they relate to insurance companies;

• Basic knowledge of insurance and reinsurance theory and practices and emerging insurance supervisory techniques;

• Knowledge of the Insurance Act, regulations, relevant rules, guidance, policies, and procedures relating to the supervision of insurance companies; and

• Proficiency in Microsoft Office applications, especially MS Excel, Word, and PowerPoint.

Caymanians, persons possessing Caymanian Status, Permanent Residency, or Residency Employment Rights Certificate need only apply.

Direct applicants only. Applications received from agencies will not be accepted at this time.

(Only shortlisted candidates will be notified)

Analyst I

Application for Employment

Personal Particulars

Education (List Schools/Institutions/Universities attended)

Other qualifications obtained that are relevant to the position(s) applied for

Courses/Certifications presently being pursued

Languages (Please state languages and proficiency level i.e. excellent, good fair, poor.)

Employment History

Present Appointment

Previous Appointments (please list in chronological order)

Referees (Referees should be current/past direct supervisors)

Please answer the following questions by selecting all that apply.

Declaration

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