Director, Asia Distribution Risk and Controls

Manulife John Hancock; Hong Kong; On-site; HKD 1,000,000 - 1,600,000; Full time

Job summary

Manulife John Hancock seeks a Director to lead Asia Distribution Risk & Control, reporting to the Regional Head and driving the Distribution Quality Operating Model across Asia Life Insurance markets. You will shape risk governance, collaborate with market distribution teams, and ensure controls over sales quality and compensation are strengthened.

The role requires deep expertise in risk, compliance and data analytics, with the ability to guide senior management on strategy and risk mitigation

Qualifications

• Experience in risk and controls in financial services or insurance.
• Strong understanding of governance, risk, and controls frameworks.

Responsibilities

• Lead Asia Distribution Risk & Controls governance and reporting across markets.
• Collaborate with distribution, risk, operations and compliance teams to implement risk controls.
• Develop and monitor data-driven analytics to detect mis-selling and compliance gaps.
• Support compensation and sales quality controls within the Distribution channels.

Skills

Risk Management

Compliance

Stakeholder Management

Data Analytics

Job description

Position Responsibilities

The Director, Asia Distribution Risk & Control (a.k.a. Distribution Line 1B), will report to the Regional Head of Asia Distribution Risk & Control and support the execution of the Distribution Quality Operating Model (DQOM) across all markets within Life Insurance business under Asia segment. The DQOM aims to execute Asia Sales Conduct Risk Framework and to develop, implement and monitor the sales quality and Distributor compensation controls in the sales distribution channels for the Life insurance business in this segment. The objective is to ensure that the key distribution-related risks are properly identified, assessed and managed/governed, enabled by strong Sales Quality and Compensation standards, effective controls and smart capabilities and tools.

Leadership and stakeholder management

The role holder will lead in a matrix environment and work effectively with Asia segment business Channel Head/s and Distribution teams on a regional and market level, regional and market level Compliance, Risk, Operations to ensure adherence to the Company's risk management requirements, and to nurture a culture of risk management and business quality focus that drives sustainable growth.

The role holder will be a valuable partner to Distribution leadership in shaping new business strategies across all applicable channels, adding risk management and sales quality elements in the strategy designs.

Governance, reporting and change management

Evaluate current and identify emerging distribution risks facing the business across the markets in Asia segment and ensure that these risks are adequately addressed by effective controls.

As part of Asia L1B team, own and manage the Asia Distribution & Sales Risk and Controls governance, fulfil the role of the committee secretary (as required) and drive the dynamic agenda, providing the necessary oversight to senior management, escalating any risks and issues from the markets and tracking remediating actions and initiatives.

Provide updates and escal ...

any Distribution and Sales risks and issues to Asia Distribution & Sales Risk Committee (ADSRC).

Collaborate with Distribution teams and Line 2 Risk Management, Legal & Compliance in the markets to drive positive changes within Distribution and Sales Quality space, support scoping and the execution of any new initiatives and projects.

Act as a Subject Matter Expert and referral point for the Distribution teams in the markets for internal & external risk and compliance requirements, methodology, tools, CAP closures and reporting.

Provide subject matter expertise to local governance forums, such as Risk committee, Persistency committee, Claims committee, Complaints Committee, Compliance committee etc., on any market specific Distribution and Sales risks and action plans to manage / mitigate the risks.

Support the Distribution teams in the markets to address any Line 3 Audit Services and Line 2 Compliance's findings and assist/objectively challenge Distribution teams (L1A) in the remediation plans and ensure timely and quality closure of any Corrective Action Plans (CAPs).

Meet L1B minimum standards, as per regional guidance, ensure that daily/monthly activities and initiatives are carefully planned and executed.

In addition to the primary responsibilities, the role holder will be required to be fully trained and have a consistent oversight over Asia Compensation Risk and Controls governance, currently covered by the team under the role of the Head of Asia Distributor Compensation. Support periodic regional reviews of compensation structures, compensation related controls, incentive-plan measures, KPIs and targets.

Data Analytics and performance management

Pro-actively seek innovative data driven capabilities and tools to enhance Distribution and Sales risks monitoring, preventing and managing any mis selling, misconduct and fraud.

Collaborate with relative teams to realise the transformation ideas and build actionable business cases. Support the scoping, roll-out, adoption and continuous improvement of data-driven analytics tools across Asia business.

Monitor all available data platforms and other reports regularly, identify any adverse trends indicating mis selling, misconduct and fraud and elevate for action and remediation accordingly.

Distribution and Sales Controls effectiveness

Assist markets' Distribution units to perform Risk Controls Self-assessment (RCSA) and Fraud Risk Control Assessment.

Own the process in establishing appropriate mitigating controls relative to the inherent and residual Distribution and Sales risks, aligned to Group policies and guidance, such as Conduct Risk Framework and others.

Design and perform the Controls and Sales Quality testing plan to ensure the controls design is operating effectively and Sales Quality processes are adhered to by the sales teams.

Follow up on any ineffective controls and QA findings with robust remediation plans, in collaboration with Distr