Total 6 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

Responsible to provide operational support to distribution channel(s) to ensure smooth execution of the sales process

Responsibilities:

1. Managing and review all 3rdparty Tie-up & Leads Generation activities.

• Review 3rd Party Tie-up & Leads Generation Business Proposal submitted by organizing leaders.
• To conduct due diligence check for all 3rd party tie-up.

2. Conduct monitoring on introducer sales and marketing activities

· To utilise platform to conduct social media monitoring on introducers and districts sales and marketing activities.

· To identify any unapproved marketing materials and escalate for further follow up.

3. Reviewing of collaterals and marketing materials

· Ensure that the marketing materials are in accordance to the Company’s checklist and requirement.

· To work with other internal stakeholders to conduct review of marketing materials and ensure review completed within the TAT.

· To issue approval code once all internal stakeholders’ queries has been completed.

4. Managing and support engaging of Appointment Setting Officer and matters pertaining to CPF Medisave Liabilities

· Review application and sent for screening before seeking approval on the engagement of Appointment Setting Officers.

· Liaise with IT for request of new logger / Spidergate enable phone / retrieval account.

· Maintain register for audit purposes.

· Liaise with CPF Board, provide in-force listing on monthly basis for computation of Medisave Liabilities

• Review defaulter list provided by CPF Board, prepare letters and communicate to location sales teams to follow up
• Liaise with Finance Department for deduction of Medisave Liabilities

5. Managing and Support Application for Span of Control Deviation for Tied Distribution

• Review application received, sent for screening to ensure meeting the requirement before seeking approval
• Conduct annual assessment on SOC Deviation to ensure that they continue to adhere to the prescribed standards of deviation.

6. Ad-hoc Tasks

To assist in any other ad-hoc projects that requires Department’s involvement

Requirements:

• Education – Tertiary education
• Experience – At least 2 to 5 years of experience in life insurance industry
• Familiar with MAS’ Financial Advisers Act (FAA), relevant notices, regulations, and guidelines; LIA Guidelines, Product Knowledge and Company’s procedures and process will be an added advantage.
• Communication skills, Problem Solving skills, Influencing skills, Strategic Thinking, Coaching, Presentation skills and Facilitation skills.
• Proficient in Microsoft Application (E.g. Excel-Vlookup)

Objective

Manage compliance with regulatory rules focusing on MAS requirements on governance, culture and conduct as well as data protection and PDPC rules on data privacy

Manage the regulatory liaison with the relevant regulatory bodies where applicable

Collaborate with business units to foster a positive compliance and governance culture through effective compliance awareness, engagement, advisory and preventive programs.

Serve as a point of contact to provide advice, guidance and support to business units and business development in the Right Way.

Roles and Responsibilities:

Data Privacy

• Support the team in providing oversight, guidance and ongoing advisory to the business functions to ensure compliance with the Personal Data Protection Act (PDPA) requirements and obligations.
• Provide PDPA training to key stakeholders as required.
• Monitor compliance with PDPA requirements and conduct review of processes/controls and testing where required.
• Maintain oversight on DNC/PDPA breaches and remediation.
• Proactively foster a positive risk culture within the Company by raising awareness and implementing data privacy initiatives

Governance, Culture & Conduct

• Support the team in providing oversight, guidance and ongoing advisory to the business functions to ensure compliance with the Monetary Authority of Singapore (MAS) requirements and obligations relating to governance, culture and conduct.
• Provide relevant training to key stakeholders as required.
• Monitor compliance with the relevant requirements and conduct review of processes/controls and testing where required.
• Proactively foster a positive risk culture within the Company by raising awareness and implementing governance, culture & conduct initiatives

Communication

Internal Stakeholders

• Regular engagement with relevant stakeholders regarding governance, culture & conduct, data privacy -related issues/concerns/matters/queries.
• Periodic reporting and handling requests from Group.
• Engagement with Senior Management on important regulatory issues.

External Stakeholders

• MAS, PDPC
• Auditors: Managing and handling external auditors in relation to relevant audit findings and/or queries.

Requirements:

· Bachelor’s degree with 2 to 5 years’ working experience, preferably in the financial services industry, focusing on governance, culture & conduct, data privacy issues including external liaison with regulators.

• Working knowledge of governance, culture & conduct, or data privacy matters.
• Professional Certificate in internal controls/Practitioner Certificate in Personal Data Protection will be an added advantage.
• Team player
• 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 and training skills

We are looking for an experienced Compliance Specialist to join our collaborative team to provide support in developing and implementing regulatory compliance policies for AIA FA.

WHAT YOU WILL BE DOING

• Responsible for engagement with internal and external partners to deliver Compliance's initiatives.
• Responsible for the development and implementation of relevant Compliance policies and procedures that is vital to support the objectives and values of AIA FA to manage corporate-level regulatory risks.
• Ensure effective communication of compliance and risk matters including timely and accurate reporting and/or escalation of such matters in accordance with relevant reporting and protocols.
• Collaborating closely with Sales team to ensure quality recruitment of representatives and putting in place controls and programs to monitor and ensure quality business brought in by the representatives.
• Develop or lead all aspects of development of structural approach and procedures to effectively deal with representatives/sales staff misconduct, from receiving allegations to planning and conducting investigations to taking remedial/recovery actions
• Develop and implement an effective education and engagement program through ongoing communication and training to embed a culture of compliance and ethics

WHAT YOU WILL HAVE

• Degree holder in an appropriate field (e.g. Accounting, Economics, Risk Management, Business Management or Law)
• 5 to 8 years of work experience in Market Conduct and Anti-Money Laundering, handling compliance and controls
• In-depth understanding of the Insurance business preferred and, in lieu of insurance, financial services.
• In-depth knowledge of Industry’s operations, regulations and guidelines
• A highly disciplined and great teammate with the ability to work well with all partners
• Computer literate
• Good command of written and spoken English
• Excellent interpersonal skills
• Independent and ability to perform well in high-pressure environments
• Must be organized, meticulous and analytical
• With high level of integrity and takes ownership and accountability of results