Risk & Compliance Officer – MBSL Insurance Company Limited
Job Overview
MBSL Insurance Company Limited is seeking an experienced and highly motivated professional for the position of Risk & Compliance Officer. This role is responsible for supporting the implementation and monitoring of the company’s Risk Management and Compliance Frameworks while ensuring adherence to regulatory requirements and promoting a strong culture of governance, integrity, accountability, and risk awareness across the organization.
Position Details
Job Title: Risk & Compliance Officer
Company: MBSL Insurance Company Limited
Job Category: Risk Management & Compliance
Job Type: Full-Time
Location: Colombo District, Sri Lanka
Industry: Insurance & Financial Services
Company Overview
MBSL Insurance Company Limited is a leading insurance provider in Sri Lanka committed to delivering innovative insurance solutions while maintaining the highest standards of corporate governance, risk management, and regulatory compliance. The company continues to strengthen its market presence through customer-focused services, ethical business practices, and operational excellence.
Qualifications & Experience
- Academic and/or professional qualification in Finance, Law, Insurance, Risk Management, Compliance, or a related discipline from a recognized university or professional institution.
- Minimum 7 years of experience in an equivalent field.
- At least 2 years of relevant executive-level experience in Risk Management, Compliance, Audit, or related functions.
- Experience within the Insurance or Financial Services sector is highly preferred.
- Strong practical and theoretical knowledge of regulatory requirements, AML/CFT regulations, and governance frameworks.
- Proven ability to work independently while managing multiple responsibilities.
- High level of integrity, professionalism, and attention to detail.
Key Responsibilities
- Assist in implementing and maintaining the Enterprise Risk Management (ERM) and Compliance Frameworks.
- Ensure compliance with statutory and regulatory requirements, including IRCSL guidelines and AML/CFT regulations.
- Assess, monitor, and report key organizational risks.
- Support timely risk and compliance reporting to management and regulatory authorities.
- Conduct compliance reviews and assist in internal audits and investigations.
- Liaise with regulators, auditors, and internal stakeholders on compliance-related matters.
- Promote awareness of compliance policies, procedures, and ethical standards across the organization.
- Support the continuous improvement of governance, risk management, and compliance processes.
Required Skills
- Strong knowledge of Enterprise Risk Management (ERM) principles.
- Thorough understanding of compliance and regulatory frameworks.
- Knowledge of AML/CFT requirements and insurance regulations.
- Risk assessment and risk reporting expertise.
- Strong analytical and problem-solving skills.
- Excellent communication and interpersonal abilities.
- Report writing and presentation skills.
- Stakeholder management and relationship-building capabilities.
- Attention to detail and organizational skills.
- Ability to work independently and maintain confidentiality.
Salary & Benefits
- Attractive remuneration package based on qualifications and experience.
- Opportunity to work in a leading insurance organization.
- Exposure to enterprise-wide risk management and compliance functions.
- Professional growth and career development opportunities.
- Collaborative and professional working environment.
- Ongoing learning and industry exposure.
How to Apply
Interested candidates should send their updated CV to:
Email: careers@mbslinsurance.lk
Please mention “Risk & Compliance Officer” in the subject line of your email application.
Important Notes
- Only shortlisted candidates will be contacted.
- Prior experience in the Insurance or Financial Services sector will be a distinct advantage.
- Strong knowledge of regulatory compliance, AML/CFT requirements, and governance frameworks is essential.
- Candidates must possess excellent analytical, communication, and stakeholder management skills.
- The position is based in Colombo District, Sri Lanka.
