Job Description

You are as unique as your background, experience and point of view. Here, you\xe2\x80\x99ll be encouraged, empowered and challenged to be your best self. You\'ll work with dynamic colleagues - experts in their fields - who are eager to share their knowledge with you. Your leaders will inspire and help you reach your potential and soar to new heights. Every day, you\'ll have new and exciting opportunities to make life brighter for our Clients - who are at the heart of everything we do. Discover how you can make a difference in the lives of individuals, families and communities around the world.

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The Assistant Manager, Operational Compliance and Regulatory Change Management is a critical fist line of defense role for the Sun Life Singapore. This role is responsible for assessing client risk in conjunction with our AML/CFT operating guidelines and procedures. Additionally, this role will help coordinate cross-departmental delivery of regulatory change management impacts.

Operational Compliance job duties for this role require a specialized skill set that can:

decipher layered ownership structures for the purpose of determining ultimate beneficial ownership

isolate nature of business activities by assessing the complete submission file and delving deeper into the industry and cash intensive nature of a particular business or role within the business

analyze Client hits from paid service and open-source search results and determine if hits can be dismissed or need to be further investigated, documented and escalated

document and present client profiles to 2nd line of defense (Compliance) and senior management high-risk committee

administer a Trust and Corporate Service Provider program that results in proper vetting while creating a faster track through the onboarding process

create and administer an on-going monitoring program that meets regulatory requirements and internal guidelines

Regulatory Change Management (RCM) job duties for this role require a specialized skill set that can:

identify regulatory developments and RCM events and develop action plans related to those developments

measure inherent risks, control environment, and residual risks

manage key controls and changes to those controls

prepare and report to various uplines, Regional Office and potentially Corporate regulatory teams on the progress and implementation of related work

enter, report and monitor Archer related items for Operational Risk Events for the Operations department (with potential to serve in that role for other departments who have such events)

Major accountabilities

Review client due diligence documents to determine the risk assessment rating for each client, and approve the risk assessment records entered by Operations staff

Present client risk profiles to Compliance and high-risk review committee

Implement and execute an ongoing monitoring program that complies with the company\xe2\x80\x99s AML / CFT Operating Guidelines

Maintain the AML / CFT Operations Procedures, conduct staff training, and implement process improvements where and when needed

Identify regulatory change impacts on the business and assist in implementing processes and key controls to comply with the regulations

Measure and report on effectiveness of key controls regulatory change controls

Specialized Knowledge

Flexibility and adaptability to work in a start-up environment where roles are dynamic and responsibilities my fluctuate with business need

Proven industry experience in administering client due diligence and AML/CFT programs at a financial institution (preferrable an insurance carrier)

In-depth knowledge of MAS 314 Notice and Guidelines

Strong interpersonal skills in order to work with Underwriters, Operations staff, Partnership staff, Compliance and Legal to extract and/or present client details

Decision making skills with ability to defend a well-documented and researched position

Ability to listen and extract key details needed to form a well-informed position

Problem Solving

To arrive at the appropriate risk assessment for a given client, this role will need to thoroughly read and understand the submission documents for a given case. This includes, but is not limited to, the Broker\xe2\x80\x99s Memo, Application Form, Bank Reference Letter, Inspection Report, Dow Jones and Google search results, client identification documents, proof of residential address, and proof of source of wealth evidence.

Ensuring that a justifiable nature of business activities is derived is critical to the proper risk assessment for a given client. This will require this role to dig beyond the surface to understand the types of job duties the client has so that proper evaluation of the risk and cash intensive nature of their job is determined.

While this role is responsible for ensuring the company\xe2\x80\x99s AML / CFT operating guidelines and procedures are being followed, it is also expected to provide solution based suggestions to solve complex situations that are inherent to the ultra-high net worth sales channel. This includes building and presenting evidentiary proof of source of wealth when applicable.

Regulatory change requirements can often be complex. It is critical that this role be able to analyze and understand the requirements to implement action plans to meet those requirements. This will involve working with multiple teams within the office and in our global support model.

Job Category: Customer Service / Operations

Posting End Date: 04/03/2024

Sun Life Financial