Role Purpose:
Howden Group Holdings (the Group) is an international insurance intermediary group composed of a number of specialist Operating Entities.
The jobholder is assigned to Howden Specialty Asia Pacific (within which there may be a number of distinct Trading Companies, licensed and regulated by the Monetary Authority of Singapore (MAS) as an insurance intermediary which holds both direct insurance and general reinsurance broking licenses.
The job holder is required to assist in providing Compliance related support to the various business units (as applicable) from Howden that operate within the Asia Pacific region. The job holder will further work in enhancing and reinforcing the Company’s existing compliance function by maintaining relevant policies and reviewing procedures to ensure a high standard of quality.
Core Responsibilities for All Staff
Achieve Results through Relationships with All Parties
§ Deliver a personal performance that contributes towards the Company achieving its objectives
§ Achieve lasting relationships with all parties (clients, markets, suppliers, third parties and other staff)
Delivery of Service
§ Consistently deliver an excellent and comprehensive service
Conduct and Integrity
§ Ensure all dealings are carried out with integrity and professionalism
§ Act in utmost good faith, in accordance with the relevant Company and/or Group policies and never risk the Company’s reputation
Development and Professionalism
§ Continuously develop skills and knowledge
§ Develop others where you are responsible for their performance
Compliance Responsibilities
Monitoring & Reporting
§ Understanding of internal control processes to manage the potential impact through monitoring and testing activities.
§ Assist in the maintenance of Gifts & Entertainment Register including related requests.
§ Liaise with the business to ensure that their remedial action plans (resulting from the monitoring/audit reports and thematic reviews) are addressed for all on-off issues and systemic issues.
§ Track the remediation process and produce relevant reports, as required.
§ Assist in developing annual Compliance Monitoring Plans with Deputy Head of Risk and Compliance.
§ Execution of the Compliance Monitoring plan on a timely basis, which includes compliance monitoring related activities for the year.
§ Conduct ad-hoc reviews to ensure compliance with policies and internal processes.
§ Assist in preparing regular reports on compliance monitoring activities, which aim to identify common areas that require additional training for brokers or relevant stakeholders.
Regulatory and Operational Compliance
§ Work closely with key stakeholders in the first and third line of defence to achieve a well-controlled organisation that can achieve growth targets safely.
§ Provide support to the Security and Counterparty team (SCPT) based in UK and APAC to administer KYC/CDD processes to ensure successful on-boarding of clients, insurers, and third parties.
§ Support specific projects and initiatives in order to ensure business goals and objectives are met.
§ Actively undertakes personal development to ensure up to date knowledge and skills.
§ Support in Horizon Scanning for the APAC region.
§ To assist in maintaining and updating the Regulatory obligations register.
Policies, Process and Procedures
§ Assist in the creation, reviewing and maintenance of policies and procedures under the purview of Risk & Compliance team, where required.
§ Assist to maintain the policies and procedures depository for the region.
Business Advisory and Incident Management Process
§ Be a key contributor in the day-to-day maintenance of Compliance Tracking System.
§ Assist under supervision in the support and maintenance of incident reporting processes as required.
Stakeholders (Internal)
§ Represent Howden Specialty Asia Pacific internally, with regards to Risk and Compliance related matters.
§ Able to develop strong relationships with internal stakeholders
§ Treat all stakeholders fairly and ethically.
§ Builds strong and effective relationships across the business to promote a positive image of the Risk and Compliance team and efficiently support work activities.
§ Seeks opportunities to enhance the effectiveness of the Risk and Compliance team through working collaboratively with colleagues and other teams/departments (e.g. Ops, Internal Audit, Legal), sharing knowledge and information.
§ Promotes an open line of communication to, from and within the Risk and Compliance team.
People
§ Support colleagues in the wider team, assisting in the achievement of their objectives.
Compliance (Internal)
§ Ensure all staff comply with all applicable Company and/or Group policies and procedures as well as all legal and regulatory requirements.
§ Ensure correct authorisation is obtained and processes followed when required by the Company and/or Group policies and procedures.
§ Maintain accurate records and deal with correspondence appropriately.
Market Awareness
§ Share information that could be beneficial to the Company.
§ Maintains awareness of industry developments and supports the business in assessing impacts and enhancing controls where necessary.
Representing the Company
§ Any other reasonable duties, as required.
Additional Responsibilities
§ Provide input as relevant on matters raised during meetings that have a risk and compliance component.
§ Any other responsibilities as may from time to time be determined by the Company.
Skills and attributes needed to perform the role
§ Excellent verbal and written communication skills.
§ Analytical and problem-solving skills.
§ Strong attention to detail and ability to manage multiple tasks simultaneously.
§ Good planning, organisation, delivery and time management skills.
§ Strong conflict management skills.
§ Comfortable to work with executive/senior management.
§ Maintain a high degree of credibility, independence, integrity, confidentiality and trust.
§ Team-oriented but also able to work independently and proactively.
Knowledge
§ Commercial awareness and focus on the application of regulation within the insurance broking industry.
§ Knowledge of relevant legislation and regulations.
§ Broad knowledge and understanding of insurance, principles, products and services.
§ Broad knowledge of risk and compliance management practices. Demonstrate good risk awareness across different risk topics and able to complete walkthroughs dealing with information in a structured manner, as well as design and execute necessary testing.
Professional Qualifications / Experience
§ Minimum 1-3 years of experience in compliance, regulatory, legal, audit and/or risk management role, preferably in the insurance/reinsurance broking industry, or financial services sector.
§ Ability to manage and conduct monitoring and testing reviews.
§ Educated to a minimum of University standard. Preference is given to applicants with degree standard of education particularly if this includes business, accounting or legal modules.
§ Willing to obtain relevant insurance qualifications as requested.
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