Total 3 job vacancies by Aia Singapore Private Limited

Job Description:

• Develop and embed market conduct risk framework
• Review and approve client facing and non-client facing Marketing Materials
• Partner with first line stakeholders to deliver compliance and ethics training and awareness activities
• Carry out investigation on customer complaints and misconduct allegation against FSCs in an independent, effective and prompt manner in order to reduce customer dis-satisfaction and facilitates service recovery, thereby enhancing customer’s experience.
• Participate and be involved in team initiatives/projects to enhance the market conduct framework
• Carry out adhoc tasks and projects assigned by HOD or supervisor.

Requirements:

• At least 5 years of experience with Investigations or other Compliance functions
• Insurance background is preferred
• Compliance qualifications will be an advantage

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

Roles and Responsibilities:

• Work closely with the distribution channels and other support units to coordinate the EDD case management and ensure relevant supporting documents or alternatives evidence as obtained are acceptable within the internal framework requirements.

• For analyst that support the onboarding of the high net worth (“HNW”) and offshore business segments, to work closely with the AML Consultant and act as the SME in managing the end-to-end support for the NB onboarding. This will include conducting the relevant EDD review, SOF and SOW corroborations in line with the regulatory requirements and internal SOP.

• Managing and review the alerts resolutions arising from name screening / transaction monitoring / customer risk scoring systems and liaise with other functional units (e.g. Life Operations) for necessary investigation and follow-up actions. This include prepare the required EDD review accordingly and seek senior management approval.

• Conduct investigation into suspicious activities and prepare suspicious transaction report for timely filing to STRO.

• Assist in the annual HRC periodic review and trigger event reviews (such as but not limited to absolute assignment, policy loan application, 3rd party payor review) in accordance with the applicable AML/CFT policies / guidelines / SOPs.

• Maintain accurate regular review, risk assessment, trigger event review and enhanced due diligence records.

• Assist with the implementation of automated AML systems in regard to UAT, data gathering where required.

• Assist in preparation of the AML/CTF related management reports.

• Carry out other ad-hoc tasks or projects as assigned.

• Exercise diligence in delivering quality work and strong commitment to agreed timeline.

Requirements:

➢ Bachelor’s Degree and a relevant industry qualification in AML/CFT e.g. ICA, ACAMS.

➢ 2 to 5 years of experience in a financial crime compliance role within the insurance industry

➢ Strong knowledge of the applicable regulations and guidelines on AML/CFT e.g. MAS Notice 314, TSOFA

➢ Sound understanding of insurance operations and the financial crime risks and controls relating to AML and Sanctions.

➢ Appreciation of the changing trends and typologies relating to AML/CFT.

➢ Ability to multi-task and take on high volume of workload with aggressive timelines.

➢ Attention to details in investigation of alerts and reviewing customers’ profiles.

➢ Intermediate knowledge of Excel i.e. formula, macro, VBA is a plus.

➢ Familiar with AS400 system and Nice Actimize platform