Unlock the secrets to financial compliance! Join our training session for Insurance Intermediaries, where we delve into the essential requirements, fiduciary duties, Business of Insurance Intermediaries Statements, auditor responsibilities under the Insurance Distribution Rules, and stay ahead with regulatory reporting deadlines.
This training session provides a background of the financial resources requirements which Insurance Intermediaries shall adhere to at all times in terms of Insurance legislation and rules, focusing also on obligations arising from ‘Monies held in a Fiduciary Capacity’. Moreover, the session will also provide an overview of the compilation of the Business of Insurance Intermediaries Statements. The duty of the approved auditor to report and disclose in its statement on compliance with requirements specified by the Insurance Distribution Rules will also be covered. Finally, it also captures the regulatory reporting deadlines insofar as insurance intermediaries are concerned.
In line with MFSA requirements, a short multiple-choice assessment will be provided by the trainer towards the end of the session. A Certificate of Attendance will be awarded to all students who attend the CPD (duration will be included on certificate). A Certificate of Achievement will be awarded to those who sit for the assessment and are successful (pass mark 60%).
Jessica Stivala is an accountant by profession specialising in Insurance Regulatory as a consultant in her personal capacity, also serving as an Independent Non-Executive Director on the board of a regulated Insurance Company.
She previously worked with the Malta Financial Services Authority within the Insurance and Pensions Supervision function between 2012 and 2021, during which time she held the position of a Senior Manager since 1 January 2018. She has been involved in and led onsite inspections, desktop reviews, analysis and investigations, predominantly as part of the supervision of the insurance market. Additionally, she has served on a number of MFSA cross-sectoral working groups, worked on policy papers and participated in EIOPA’s committees and Expert networks in the areas of Governance, Insurance risk management, reporting, financial quantitative requirements, audit and accounting. Prior to joining the Authority, she held the position of an Assurance Senior with a Big Four firm wherein she has gained professional experience in auditing. Jessica is a Qualified Public Accountant and holds a Bachelor (Honours) degree from the University of Malta as well as a Masters Degree in Accountancy. She is also a Fellow Member of the Malta Institute of Accountants.
