Provide compliance advisory to internal stakeholders on new regulatory developments/updates.
Oversee the company wide Regulatory Compliance registers (MAS, FAA, SFA, CPF, LIA Guidelines, Insurance Act related regulations etc.).
Conduct risk assessment and gap analysis on key compliance risks, new regulatory initiatives and requirements. Engage stakeholders and facilitate the implementation of process and controls to mitigate regulatory and compliance risks.
Assist to oversee Risk & Compliance Champion Framework, engage with and ensure the RCCs are motivated and well trained through well designed engagement and training activities.
Provide training to RCCs on relevant Compliance topics.
Guide and advise RCCs in their key duties of RCCs, to ensure that the RCC work plan is carried out properly and in accordance with stipulated timelines.
Provide support to liaise with Key Regulators, government agencies, and industry associations. E.g. MAS, CPFB, LIA, etc. and ensure that their requests and queries are promptly seen to.
Review and provide adequate challenge to the Business on responses to Regulators to ensure the Company's responses are accurate, consistent and of good quality.
Assist to organise regular engagement sessions with MAS to ensure Regulators are kept sufficiently abreast of any major Company developments and updates on key Company initiatives.
Assist to oversee and organise MAS Inspections on Company operations and ensure they are well-coordinated. Issues are promptly escalated to key Management where appropriate.
Manage relevant risks and issues that impact on a Companywide level, ensure appropriate mitigating measures are in place, Company's risk rating with Regulators is well managed.
Assist to ensure proper oversight of external Fund Managers by review of their regular compliance reports.
Conduct regular investment compliance monitoring reviews in accordance with the annual work plan, and ensure that complies with relevant investment regulations or guidelines.
Assist to notify MAS & CPFB of any breaches that are not in line with regulatory requirements, within the stipulated timelines.
Projects & Tasks
Develop and deliver the required presentation materials promptly to ensure that presentations/trainings are delivered on schedule to the relevant stakeholders.
Coach and mentor fellow colleagues via on-the-job training in order to develop and nurture new/ junior colleagues, increase their competencies and improve overall team performance and engagement.
Perform other responsibilities and duties periodically assigned by supervisor in order to meet operational and/or other requirements.
Bachelor Degree background (diploma or degree equivalent) with at least 5 years' compliance experience in insurance or financial services industry.
At least 5 years of working experience in financial industry, preferably in the insurance industry doing compliance–related work. Sound knowledge of the insurance industry, particular in the area of regulatory/industry requirements, e.g. FAA, MAS regulations (Notice/Guideline/Circulars), Insurance Act, LIA guidelines.
Insurance qualifications e.g. CMFAS M5, M8, M9, M9A, Health Insurance will be an added advantage
Compliance-related certifications preferred e.g. Diploma in Compliance, Associate of ACI etc. will be an added advantage
A team player with strong project management, good interpersonal and communication skills.
Good communication and presentation skills
Proficient in Microsoft Word, Excel and Power point
Good influencing and relationship management skills
Conflict management skills
Company Registration No.:201131609D
EA Licence No.:11C4684
EA Reg no: R1877280
Internal Number: 5617557
About LMA Recruitment, EA Licence No: 11C4684
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