Jacqueline Fenech is a Director with over 20 years of experience working with financial service players – including insurance,payment services, market infrastructure and asset management – across several disciplines, including Internal Audit and risk and compliance. Jacqui has recently spent her time, with complex FS Groups, as interim Group Head of Internal Audit and then as Internal Audit Strategic Director, responsible for restructuring the Internal Audit function and for continuous Internal Audit planning. Over the years, Jacqui has worked with Internal Audit teams in a Subject Matter Expert (SME) capacity, covering the Senior Managers & Certification Regime (SMCR), Own Risk & Solvency Assessment (ORSA), internal capital model validation, board and governance effectiveness and compliance monitoring. During her career, Jacqui spent stints with both the regulatory authority andwith Lloyd’s, focusing on Solvency II implementation. Jacqui is currently helping clients with their combined assurance agenda.
- Currently working with a Top 10 Global Insurer on the transformation of their Professional Practices and Quality Assurance.
- Recently Global Strategic Internal Audit Director at a Broking group responsible for the restructuring of the Internal Audit (IA)function and formulating the 2019 Group Internal Audit plan.
- Global Interim Head of Internal Audit at an international, complex Insurance group for a year, responsible for turning around andconsolidating the IA function.
- Internal Audit lead for a number of co-sourcing arrangements within Financial Services.
- Undertook a number ofExternal Quality Assurance (EQA) projects assessing Internal Audit functions in line with Institute ofInternal Audit (IIA) standards.
- Developed a SMCR audit framework and led Internal Audit reviews with a few insurers of their SMCR implementation.
- Led Board effectiveness reviews for asset managers, insurers and an international exchange and clearing house.
- Works regularly with Boards NEDs and executive management to prepare them for periodic supervisory visits by the regulatorincluding mock interviews with the senior leadership team.
- Led several Solvency II independent reviews, for the UK subsidiary of a US-headquartered insurer, including Own Risk andSolvency Assessment (ORSA) report; use test; risk management framework; and governance arrangements.
- Led a number of data audit reviews for Lloyd’s syndicates working with the group head of Internal Audit.
- Led an independent review of the internal model primary validation for the Lloyd’s entity of an international insurance group.
- Led in-depth Solvency II gap analyses including articulation of detailed business requirements for the UK and Spanish regulatedentities of an international health insurance group and for several Lloyd’s entities, including facilitation of workshops andpresentations to the respective Boards and senior management teams.
Areas of Expertise
- Internal Audit
- Risk Management
- Solvency II
- Regulation and Compliance
- Corporate Governance
- Senior Managers & Certification Regime
- Project Management
- Financial Services with experience inInsurance, Asset Management, PaymentServices and Market Infrastructure
- MBA – Warwick Business School
- BA (Hons) Econ – University of Malta
- B Com Accounting – University of Malta
Professional Memberships and Certifications
- Institute of Internal Audit (IIA)
- PRINCE 2 Project Management