Agency Compliance Manager

IPS Group (Asia) Limited; Hong Kong; On-site; HKD 900,000 - 1,400,000; Full time

Job summary

IPS Group (Asia) Limited is seeking a seasoned Compliance Specialist in Hong Kong to develop and implement agency compliance programs. You will monitor regulatory adherence, conduct audits of partner agencies, and drive corrective actions to uphold standards.

The role requires extensive knowledge of HK insurance regulations, strong analytical skills, and the ability to train staff on compliance best practices, with fluency in English and preferably Cantonese/Mandarin.

Qualifications

• Minimum 5-7 years of compliance experience within the insurance agency channel.
• Strong knowledge of Hong Kong insurance regulations, licensing requirements and regulatory frameworks.
• Proven experience in agency compliance, audit functions or regulatory compliance management.
• Detailed understanding of insurance distribution regulations and code of conduct requirements.
• Excellent written and verbal communication skills in English; Cantonese and Mandarin fluency is highly desirable.

Responsibilities

• Develop, implement and maintain comprehensive compliance frameworks and policies specific to agency operations.
• Monitor and audit agency compliance with regulatory requirements, industry standards and internal policies on an ongoing basis.
• Conduct regular compliance assessments and audits of agency partners, documenting findings and recommendations.
• Investigate compliance breaches and non-conformances, taking appropriate corrective and preventative actions.
• Provide compliance training and guidance to agency staff and management on regulatory requirements and best practices.
• Maintain detailed compliance documentation and records, ensuring all reporting obligations are met.
• Liaise with regulatory bodies and respond to compliance queries and requests for information.
• Identify compliance risks and recommend process improvements to mitigate potential issues.
• Prepare regular compliance reports for senior management and regulatory authorities as required.
• Stay updated on changes to insurance regulations and superannuation laws affecting agency operations.

Skills

Compliance knowledge

Regulatory frameworks

Auditing skills

Analytical thinking

Communication skills

Tools

Audit software

Job description

Develop, implement and maintain comprehensive compliance frameworks and policies specific to agency operations

Monitor and audit agency compliance with regulatory requirements, industry standards and internal policies on an ongoing basis

Conduct regular compliance assessments and audits of agency partners, documenting findings and recommendations

Investigate compliance breaches and non-conformances, taking appropriate corrective and preventative actions

Provide compliance training and guidance to agency staff and management on regulatory requirements and best practices

Maintain detailed compliance documentation and records, ensuring all reporting obligations are met

Liaise with regulatory bodies and respond to compliance queries and requests for information

Identify compliance risks and recommend process improvements to mitigate potential issues

Prepare regular compliance reports for senior management and regulatory authorities as required

Stay updated on changes to insurance regulations and superannuation laws affecting agency operations

Job Requirements:

Minimum 5-7 years of compliance experience within the insurance agency channel

Strong knowledge of Hong Kong insurance regulations, licensing requirements and regulatory frameworks

Proven experience in agency compliance, audit functions or regulatory compliance management

Detailed understanding of insurance distribution regulations and code of conduct requirements

Excellent knowledge of superannuation regulations and compliance obligations

Demonstrated ability to develop and implement compliance policies and procedures

Strong analytical and problem-solving skills with meticulous attention to detail

Excellent written and verbal communication skills in English; Cantonese and Mandarin fluency is highly desirable

Ability to work independently whilst collaborating effectively with cross-functional teams

Professional certification or qualification in compliance, audit or related field is preferred

Experience with compliance management systems and audit software is advantageous