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Team Lead, Compliance (Business Support)

Keywords / Skills : Team Lead, Business Support (Compliance)

5 - 7 years
Posted: 2019-04-02

Software Engineer/Programmer
Posted On
2nd Apr 2019
Job Ref code
Job Description
Job Description :

Key Responsibilities
  • Implement various Group policies and guidelines at local level and provide ongoing advisory advice in order to mitigate risks and ensure compliance with Group directives and local regulations.
  • Prepare periodic reports and escalate key issues as per reporting protocol in a timely and accurate manner, in order to support decision making by local management and Group Office. Ensures follow-up on remediation actions so as to ensure prompt closure of outstanding issues.
  • Monitoring of Regulatory Reporting Obligations
    • Monitor the Companys mandatory regulatory reporting obligations by sending periodic reminders and perform follow-ups with the relevant department to ensure compliance with all mandatory reporting and communications within the stipulated timelines.
    • Perform timely escalation of issues or potential delays to management in order to prevent any breach which may result in regulatory or financial penalty
  • Foreign Account Tax Compliance Act (FATCA)
    • Provide oversight, guidance and ongoing advisory to key BUs ensure compliance with FATCA requirements and obligations (e.g. onboarding, ongoing due diligence checks etc.).
    • Assist in preparation of annual FATCA reporting to IRAS, ensure timely monthly reporting and escalation of FATCA breaches to Group Compliance.
    • Provide FATCA training to key stakeholders and FSCs as required.
    • Monitor compliance with Group FATCA Compliance Manual including testing the adequacy and effectiveness of key FATCA requirements
  • Data Privacy
    • Assist the DPO to provide oversight, guidance and ongoing advisory to ensure compliance with the Personal Data Protection Act (PDPA) requirements and obligations.
    • Provide PDPA training to key stakeholders and FSCs as required. Monitor compliance with PDPA requirements and conduct review of processes/controls and testing where required.
    • Maintain oversight on DNC/PDPA breaches and remediation. Foster healthy and effective relationship with PDPC.
  • Training to New Staff and FSCs
    • Develop, improve and update the training slides and programs on an annual basis.
  • Provide ongoing compliance advisory and support to key business units (BUs) on various business initiatives in order to ensure that the BUs are compliant.
    • Engage key BUs proactively, understand their business model/operations and create/raise awareness and understanding of regulatory/ industry requirements and companys policies.
    • Customize training tailored to BUs' needs/areas of concern.
    • Advise on regulatory and industry requirements and recommend solutions to support BUs business requirements and initiatives.
    • Foster effective working relationship with BUs, through proactive engagement and support program to enable the growth of business in the right way.
  • 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.
    • Perform other responsibilities and duties periodically assigned by supervisor in order to meet operational and/or other requirements.

Key Requirements
  • Min.Bachelors Degree, preferably in business management, Insurance, Economics or Accountancy.
  • At least 5 to 7 years of working experience in financial industry, preferably in the insurance industry doing compliancerelated work. Team lead experience preferred.
  • Insurance qualifications e.g. CMFAS M5, M8, M9, M9A, Health Insurance and MAS regulations in relation to fund management e.g. MAS Code on CIS, MAS 307 and CPF Investment Guidelines will be an added advantage.
  • Sound knowledge of the insurance industry, particularly in the area of regulatory/industry requirements e.g. Financial Advisers Act, MAS notices, LIA Guidelines.
  • Proficient in Microsoft Word, Excel and Power point
  • Excellent team player and good work attitude.

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