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Team Lead, Regulatory Compliance & Liaison

Keywords / Skills : Regulatory Compliance, Regulatory Liaison, gap analysis , Risk & Compliance, risk assessment, Investment Compliance, complianc, insurance , Projects & Tasks , investment compliance, finance

5 - 8 years
Posted: 2019-06-12

Banking/Financial Services
Finance & Accounts
Banking, Insurance & Financial Services
Compliance & Control
Posted On
12th Jun 2019
Job Ref code
Job Description
Job Description :

To assist the Head, Regulatory Compliance & Liaison to oversee the team, and collaborate with business units to foster a positive compliance and governance culture through effective compliance awareness, engagement, advisory and preventive programs so as to manage and mitigate regulatory, compliance and reputational risks.
Key Responsibilities
Regulatory Compliance (40%)
  • 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.

Regulatory Liaison (40%)
  • 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 Companys 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, Companys risk rating with Regulators is well managed.

Investment Compliance (10%)
  • Assist to ensure proper oversight of external Fund Managers by review of their regular compliance reports sent to AIAS.
  • Conduct regular investment compliance monitoring reviews in accordance with the annual work plan, and ensure that AIAS 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 (10%)
  • 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.

Key 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 compliancerelated 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

Special skills
  • 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
  • Excellent team player
  • Good influencing and relationship management skills
  • Conflict management skills

About Company

AIA Singapore
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