Assistant Manager, Market Conduct Enforcement

Great Eastern; Kuala Lumpur; On-site; MYR 50,000 - 80,000; Full time

Job summary

A leading insurance company in Kuala Lumpur is seeking an Assistant Manager for Market Conduct Enforcement. The role includes conducting investigations into agency fraud, handling complaints, and implementing market conduct supervision activities. Candidates should hold a relevant tertiary qualification and possess 1-3 years of experience in investigation or related fields. Strong analytical skills and a thorough understanding of compliance methodologies are necessary. This role offers a dynamic environment with opportunities for professional growth.

Qualifications

• 1 - 3 years in investigation, internal audit, insurance or banking industry.
• Possess knowledge of insurance law and related regulations.
• Good comprehension of compliance methodologies.

Responsibilities

• Assist in the investigation of Agency Related Investigations.
• Conduct investigation work on complaints received from external/internal sources.
• Ensure timely reporting to management and authorities.

Skills

Probing nature and patience

Analytical & detailed oriented

Good written and communication skills

PC literacy

Organizing & planning skills

Education

Tertiary or professional qualification in Accountancy / Finance / Law or Insurance

Job description

Assistant Manager, Market Conduct Enforcement

• Conduct/ Assist in the investigation of Agency Related Investigations, Whistle-blowing investigation (allegation against intermediately) and Anti Bribery & Corruption related investigation (allegation against intermediately, policyholder and external party).
• Conduct/Assist in the implementation of Market Conduct Supervision Activities, Fair Dealing and Market Conduct KPI to detect/ prevent potential fraud and market misconduct by agents/ customers.
• Conduct/ Assist in the investigation work on complaints received from both external (policyholder, BNM, LIAM, Whistleblowing and other insurance companies) and internal (from various departments or CEO's office).
• Conduct/ Assist in the investigation work on Anti Bribery & Corruption cases against intermediary, policyholder and external party that received by the Company or Internal Audit Department.
• Conduct/ Assist in the investigation on agency fraud and misconduct cases (GELM & GEGM) and ensure timely disposal and resolution of cases. This will include timely and comprehensive follow-ups on any long outstanding cases.
• Assist in the monitoring / implementation of the preventive /corrective actions to be taken.
• Ensure timely reporting to GRM, management committee, authorities (including PDRM) and BNM and subsequent follow-up via BNM reporting system.
• Perform /Assist in analysis and fact finding of suspicious market conduct activities and profiling reports as and when necessary.
• Carry out/ Assist in market conduct /agency compliance projects as and when directed.
• Prepare analysis of the types and modes of agency abuses, unethical practices and misconducts so that preventive and educational initiatives could be taken.
• Perform /Assist in analysis and fact finding of suspicious market conduct activities and profiling reports as and when necessary.
• Undertake ad-hoc projects as assigned by superior/ HOD/ Compliance Head etc.
• Assist in arranging and facilitating the FCC & MCRC meeting for GELM and GEGM, including preparation of meeting materials.
• Assist in conduction briefing/training/investigation (as and when necessary and directed) to relevant departments to minimise fraud and create greater awareness amongst staff.
• Ensure Market Conduct reports, FDI and Company Balance Score Card reports are promptly submitted to GRM.
• Developing/ enhance and review internal policies, procedures, frameworks and standards related to market conduct and fraud risk management.
• Undertake special projects on agency sales conduct with the aim to prevent/minimize/contain widespread unethical/fraudulent cases.
• Undertake analysis of types and modes of agency abuses, unethical practices, frauds etc. This will include maintenance of up-to-date and effective database of cases involving agents’ misconducts, profiling of agents and clinics/hospitals.
• Timely and prompt analysis of compliance and investigation issues.
• Be well informed of updates of all external and internal guidelines, policies and operating processes.
• Possess good understanding of regulatory guidelines and governing laws.
• Prompt and efficient preparation of reports.
• Extroverted person and possess an inquisitive mind.
• Able to exercise sound and professional judgement in the best interest of the Department & Company.
• Able to maintain healthy internal business relationships with agency, claims, Legal and operations departments where applicable.
• Able to maintain healthy external relationship and networking with police, lawyers, PI, regulators, other insurers counterparts, other public authorities, etc.
• Tertiary or professional qualification in Accountancy / Finance / Law or Insurance (FLMI, FMII etc.)
• 1 - 3 years in investigation, internal audit, insurance or banking industry.
• Possess key skills such as probing nature and patience, analytical & detailed oriented, good written and communication skills, PC literacy, organizing & planning skills.
• Understand key knowledge such as insurance law and related regulations, agency and contract law, policy terms & conditions, product knowledge & features, good comprehension of compliance methodologies.
• Possess key competencies such as investigation techniques, problem solving & decision making, integrity & trustworthy, able to handle difficult situations, inquisitive and good interviewing skill.
• Able to work under pressure, a fast learner, possess good interpersonal and reporting writing skill.
• Possess personal attributes including confident, information seeking, integrity, involvement, passionate, performance orientated, perseverance, receptiveness and thoroughness.