Licensing and authorisation - Analyst function

Capital Market

2.1.3 Licensing and authorisation – Analyst function

Description of role

Responsible for validating the licensing application at the initial application stage as well as by change of scope, check fit and proper requirements for new licensees and on an ongoing basis during the lifetime of a licensee.

Core technical skills

Articulate the impact and risk of the proposed entity within the sector and wider economy
Understand the implications of insurance operating models on the wider financial sector (e.g. life, no-life, Takaful, etc.)
Familiarity with the impact of new licenses in the specific area of insurance and the wider sector
Understand complex ownership structures and identify key risks inherent in each
Possess an understanding of insurance operating models
Knowledge of how to perform checks on owners, management, and other key personnel (e.g. Fit and Proper testing)
Able to analyse compliance of applicants with respect to requirements of licensing
Capability to interpret financial models, financial statements, and risk measures
Capability to validate complex financial models

Qualification and/ or certification

QFSQF Level 3
Relevant experience

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