Job Scope
- Responsible in all distribution and/or product related matters for the Wealth and Personal Banking – Insurance (WPB Insurance) business in Singapore.
- Legal work on distribution matters primarily involves providing legal advice relating to the sale and distribution of WPB Insurance products through third party channels (such as the bank, the tied agency force, bancassurance partners, brokers and independent financial advisors). The work will include the review and negotiation of distribution and partnership agreements and consideration of the company’s risk framework relating to the engagement of third-party distributors.
- Responsible in the insurance products coverage which includes life (including high net worth, retail and investment-linked products) and health (including individual and Group hospitalisation and employee benefits).
- Product work will involve (a) preparation of standard documentation for new products and reviewing/amending on-the-shelf products as required, (b) participation in product governance discussions to assess legal, reputational and conduct risks and (c) in respect of more complex products, considerations of customer/sales suitability.
- Evaluate and respond to changes in the law and regulation relevant to the products and channels under the lawyer’s remit to manage existing legal risks and identify and manage new/emerging legal risks.
- Work/advise on all associated marketing, customer acquisition, digital projects and data privacy advisory matters. Work with subject matter experts in the wider Legal team, when required.
- Assist and collaborate with the legal teams to provide additional support on matters relevant to the insurance business and working on regional projects.
Job Requirements
- Degree in Law or related field with no less than 7 years' post qualification experience.
- Solid post qualification experience working in insurance and/or corporate commercial practices of a reputable international or Singapore law firm or, at an in-house legal department (of which at least 3 years must be gained at a reputable international or Singapore law firm).
- Experience with insurance or banking documentation. Excellent drafting skills required.
- Experience with commercial transactions and documentation including advising on legal issues relating to confidentiality, data privacy, competition law, dispute management, consumer protection.
- Sound knowledge of insurance law and regulations applicable in Singapore. Experience with cross-border laws and regulations of other jurisdictions is a plus.
- Ability to work directly with cross functional teams including business teams.
- Collaborative, adaptable and open to innovation and new ideas/ways of working.
- Ability to prioritise with lateral thinking/ problem solving skills.
- Excellent communication and inter-personal skills and presentation skills.
We respect your privacy and all communication will be treated with confidentiality. If you wish to know more about this position or explore other roles, please prepare your updated profile and get in touch with [email protected] | Personnel Reg No.: R1105160 | EA License: 02C3423
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