Job Description

Our client is a Global Insurance Company.

• Perm job
• Singapore Insurance Regulatory Compliance
• 5 years plus experience in regulatory compliance and reporting
• Good understanding of Insurance products and business
• Great salary and benefits

The projects require extensive compliance support as it is subject to complex regulatory requirements in Singapore and compliance advisory is required across the spectrum of activities involving licensing/distribution of life insurance and investment products.

The compliance support will cut across many areas of the regulatory framework such as the Financial Advisers Act, Insurance Act , the Securities and Futures Act , FCC & AML regulations and the many notices, circulars, guidelines issued under each of these key legislations, circulars and undertakings issued by the Life Insurance Association as well as those issued by the Central Provident Fund Board etc., Depending on the area of expertise of the selected individual, the role holder may be asked to lend support to compliance advisory of Insurance Singapore and/or support compliance advisory of the two projects so that existing compliance team within company can accordingly manage the work load.

Principal Accountabilities:

Key activities and decision making areas

• Identify business centric solutions to complex strategic projects and initiatives within the framework of the regulatory regime which would cut across many areas of regulatory regimes for insurers, Financial Advisers and capital markets.
• Proactive identification of risks emanating from business an identifying workaround/innovative ways to mitigate risks with minimal impact on Business.
• Work closely under the guidance of the Team Lead to address requirements with regulators to secure the interests of the business as much as possible including proactive timely identification and risk mitigation discussion with regulator to minimize regulatory ire.
• Provide value adds on business proposal and projects within the compliance framework and help simplify requirements.
• Ensure proactive approach is taken to identification of Financial Crime and Regulatory Compliance risk change and potential impacts on business.
• Continuous review for appropriateness of framework to monitor regulatory compliance developments impacting the business.
• Assist in program implementation to quantify impacts and implement actions to address, manage and mitigate impacts of regulatory changes on the business.
• Implement as required market product suitability, sales and staff remuneration policies and systems that ensure that business exposure to financial crime compliance regulatory compliance and reputational risks is managed, in a practical and effective manner, including efficient and reasonable deployment of resources and an understanding of the business operations and needs.
• Constantly identify innovative/creative solutions and enhance interpretational skills in order to ease regulatory requirements and implement complex /challenging business proposals.

Customers / Stakeholders

• Liaise with relevant stakeholder within Insurance in Singapore, other Global Business and Functional teams to provide expertise and support on all Financial Crime and Regulatory Compliance related matters, under the guidance of the Team Lead.
• Interact with Regulators and industry bodies in Singapore, on Regulatory Compliance matters relating to the business.
• Ensure the appropriate timely and relevant risk information is provided to Senior Management
• Engage with Group RC teams in Hong Kong and London on various projects and compliance matters, provide timely update and reports on various group driven compliance initiatives, on Business as Usual as well as projects.
• Liaise with internal and external auditors including regulatory inspection teams and provide required information to enable the smooth conduct of audits and inspections.
• Simplify the dissemination of regulatory requirements and identify proactive steps to ensure that the business understands the requirements for ease of understanding and implementation.
• Proactive identification of best practices in industry and disseminate the same to business to enable simplification of processes, procedures, business requirements.

Leadership & Teamwork

• Strong communication and working relationship with stakeholders.
• Influence business and other stakeholders for smooth implementation of RC requirements and ensuring compliance with Group and local regulatory requirements.
• Engage with senior management and business stakeholders to provide proactive and business driven solutions within the compliance framework.
• Enhance visibility and network beyond business colleagues to colleagues in other group entities and in the industry in order to enhance visibility for business requirements, identify best practices as well as business solutions

Operational Effectiveness & Control

• Assist in the alignment of business operating practices with changes in Global Regulatory Compliance Standards
• Resolve any/all identified issues promptly, and escalate concerns to management as appropriate to ensure timely awareness of any material concerns.
• Maintain and observe all company\'s control standards and implement and observe the Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators.
• Maintain awareness of operational risk within assigned portfolio and minimise the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting.
• Engage with Group counterparts to identify solutions for the business and operational teams for seamless implementation of Group standards across the business.

If you are interested in this position, please feel free to drop me a message and send your CV over to emaini@argyllscott.sg

Argyll Scott Singapore Pte Ltd

Enkhtur M

EA Reg No: R22105384

EA Licence No: 16S8105

Argyll Scott Asia is acting as an Employment Agency in relation to this vacancy.

Argyll Scott Asia is acting as an Employment Agency in relation to this vacancy.

Argyll Scott