REGULATORY COMPLIANCE
i) Provide ongoing compliance advisory and support to business functions on various business initiatives, in order to ensure that the business is compliant with existing and new regulations.
ii) Conduct gap assessments on new regulatory developments, liaise with the various business functions to ensure new regulatory requirements are properly implemented, identified gaps are closely monitored to ensure adherence to regulatory requirements.
iii) Ensure regulatory compliance registers are kept up to date and timely certified by Senior Management, regulatory obligations are effectively embedded into business, monitor and ensure proper remediation of any lapses noted.
REGULATORY LIAISON:
i) Liaise with key regulators and industry associations to ensure that their requests and queries are promptly addressed. Facilitate engagement sessions with key regulators to ensure AIAS’ relationship with key regulators are well managed.
ii) Review and provide adequate challenge to the business functions on responses to regulators to ensure the Company’s responses are accurate, consistent and of good quality.
iii) Assist in reporting requirements to regulators, Group, Board of Directors, senior management, and other stakeholders as required.
OTHER RESPONSIBILITIES:
· Provide necessary mentoring and coaching to upskill fellow team members.
Financial Measures
1) To prevent fines and penalties imposed by regulators for non-compliance of regulations
Non-Financial Measures
1. Implement regulatory requirements at local level by effectively communicating requirements to relevant departments/staff, identifying gaps, implement action plan to mitigate gaps and provide the necessary training.
2. Provides prompt compliance advice when handling queries.
3. Complete gap assessments with business functions within stipulated timeline. Ensure new requirements are properly and timely implemented by business.
4. Timely reporting to regulatory /statutory bodies. Prompt escalation of issues or potential delays to management.
5. All other responsibilities and duties assigned by manager are completed within stipulated deadlines.
COMMUNICATION REQUIREMENTS:
INTERNAL
· Regular engagement with relevant stakeholders regarding compliance-related issues/concerns/matters/queries.
· Periodic reporting (if required) and handling requests from Group.
· Engagement with Senior Management on important regulatory issues.
EXTERNAL
MAS, LIA, GIA, CPFB
REQUIREMENTS:
- Bachelor Degree (or degree equivalent) with emphasis on accountancy, business/ business administration/ business management/business studies, insurance or law.
- At least 6 years’ relevant experience, preferably in the financial services industry, focusing on market conduct regulatory compliance for retail customers and liaison with MAS.
- LOMA, CMFAS papers will be an added advantage.
SKILLS:
- Team player
- Good understanding of the Financial Advisers Act 2001 and its subsidiary legislations, guidelines and relevant industry association’s memos and the application to retail business.
- Liaison, relationship building and communication skills e.g. mediation.
- Building trust and credibility with Key Regulators by responding in an accurate, timely and concise manner.
- Project management
- Presentation skills
