Manager, Risk Management & Compliance (Market Conduct)
2 weeks ago
A self-directed team player in the Risk Management & Compliance (“RM&C”) function under IAG Shared Services focusing on Compliance (Market..
A self-directed team player in the Risk Management & Compliance (“RM&C”) function under IAG Shared Services focusing on Compliance (Market Conduct areas). Be able to lead junior RM&C staff and assist the Head of function in maintaining a robust risk management and compliance framework.
Responsibilities:
- Independently conduct or guide RM&C staff to conduct investigations, based on complaints lodged by customer or internal stakeholders and generate report for vetting by Head of RM&C
- Review the assessment conducted by 1st level assessor on the quality of the financial advisory services provided by representatives, against the non-sales KPIs, and determining if infractions have been committed by representatives (Balanced Scorecard framework)
- Review the assessment conducted by 1st level assessor on Replacement of Policies (“ROP”) to ascertain if ROP transaction is detrimental to customer
- Maintain, update and enhance the company’s Market Conduct-related policies (e.g. Balanced Scorecard (“BSC”), Complaints Handling, etc) in accordance with company requirements
- Conduct compliance training to relevant staff and representatives (where required).
- Identify compliance issues that require follow up and be able to independently discuss emerging compliance issues with relevant stakeholders
- Lead the market conduct stream in performing relevant gap analysis based on new and updated regulations issued by regulator
- Lead the market conduct stream in performing control testing based on gap analysis completed
- Lead the market conduct stream in completing activities under Compliance Monitoring Plan (includes assurance checks on tasks performed by 1 line of defence functions)
- Lead the market conduct stream in preparing and presenting relevant updates and/or reports to the Management
- Lead the market conduct stream in performing System UAT testing and to provide feedback on enhancements (where required)
- Keep abreast of updates to relevant regulations and developments impacting the FA industry, focusing on Market Conduct-related topics (e.g. BSC, Complaints Handling, etc), be able to assess how it will affect the business and recommend relevant controls to mitigate the risks
- Undertake any tasks as assigned by Head of function from time to time.
Requirements:
- At least a bachelor's degree or above
- At least 8-10 years Compliance-related experience in financial services/insurance-related industry focused in Market Conduct
- Sound technical Market Conduct knowledge and skills, with hands-on experience (i.e. BSC, Complaints Handling, ROP, etc)
- Strong attention to detail (i.e. proficient in reviewing work performed by more junior staff)
- Having prior financial advisory experience will be an added advantage
- Must be proficient in MS Office, Excel applications (e.g. able to use VLOOKUP, formula to call on fields in other documents, or even write macros within Excel)
Other competencies and traits:
- Uses initiatives to add value and increase efficiency in existing processes
- Possess good communication (verbal and written) skills with a strong EQ
- An eye for details, has a strong analytical mind with good problem-solving skills
- Has a self-motivated personality and is able to work well in a team
- Adaptable to changes
- Self-disciplined and motivated in a flexible hybrid work environment
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