Assistant Manager, Regulatory Compliance (GETB)

Great Eastern; Kuala Lumpur; On-site; MYR 80,000 - 100,000; Full time

Job summary

A leading insurance company in Kuala Lumpur is seeking an Assistant Manager in Regulatory Compliance to manage compliance functions effectively. You will provide support and guidance on Enterprise Governance Risk and Compliance (eGRC) systems while ensuring adherence to regulations. The ideal candidate will have 3-5 years experience in Compliance, excellent communication, management skills, and a strong understanding of regulatory frameworks. This position offers opportunities to engage with senior management and contribute significantly to the compliance culture.

Qualifications

• At least 3-5 years in Compliance/Internal audit/Legal/Insurance or Banking industry.
• Experience in handling Compliance related system/platform is an added advantage.

Responsibilities

• Ensure effective management of the Compliance function as second line of defence.
• Update and maintain Compliance Matrix; monitor execution of Compliance Requirements Self-Assessment.
• Conduct compliance risk assessments and prepare compliance review reports.

Skills

Good written & communication skills

Analytical & detail oriented

Good management & leadership skills

Excellent interpersonal skills

Ability to interact with senior management

Education

Tertiary or professional qualification in Accountancy / Law / Insurance

Job description

Assistant Manager, Regulatory Compliance (GETB)

To ensure effective management of the Compliance (GETB) function which acts as a 2nd line of defence in the GE Group. Provide advice and technical support to GETB staff and management particularly in relation to Enterprise Governance Risk and Compliance (eGRC) system as well as to monitor and ensure the business operates within the internal and external rules and regulations.

Key Responsibilities

• Update and maintain Compliance Matrix and monitor the effective execution of Compliance Requirements Self-Assessment (CRSA) on various departments within GETB.
• Identify and assess the compliance risks associated with eGRC system requirements, handling migration of guidelines and CRSA.
• Formulate/revise compliance policies and compliance framework in relation to eGRC system.
• Assess that internal policies, procedures and guidelines reflect regulatory requirements and ensure follow‑up of any identified deficiencies; make recommendations to GETB management for any deficiency noted and follow up on the implementation of corrective measures.
• Maintain vigilance over developments in the local regulatory environment so as to keep GETB management up to date as well as to proactively manage the potential regulatory risk exposure of GETB.
• Monitor compliance with internal policies, procedures and guidelines on a risk‑based basis by performing regular and comprehensive compliance‑related risk assessments and testing, identify gaps and prepare compliance review report to GETB management.
• Maintain an inventory of all essential laws and regulations pertinent to GETB and centralise all information on compliance‑related issues (e.g., breaches of regulations, follow‑up on compliance related matters) in the eGRC system.
• Conduct briefing/training (as and when necessary and directed) in relation to eGRC system.
• Undertake ad‑hoc projects related to the eGRC system as assigned by Head of Department and any relevant parties.
• Provide guidance, development programme and training to Department Compliance Officers (DCOs) on the eGRC system.
• Liaise with auditors, insurance and financial regulatory authorities on system related matters.
• Provide relevant advice on system related issues to GETB and ensure alignment of regulatory compliance framework.
• Assist in providing guidance, development programme and training to Department Compliance Officers (DCOs). Develop criteria for independent assessment and monitor DCOs performance.
• Provide compliance advisory to GETB management & staff on the applicable laws, regulations, rules and standards and the implementation of these provisions.
• Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks.
• Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company.
• Highlights any potential concerns / risks and proactively shares best risk management practices.

Qualifications

• Tertiary or professional qualification in Accountancy / Law / Insurance (FLMI, FMII etc.) or any relevant qualification with working experience in handling Compliance matters.
• Experience in handling Compliance related system/platform would be an added advantage.
• At least 3‑5 years in Compliance/ Internal audit/ Legal/ Insurance or Banking industry.

Key Skills

Good written & communication skills, analytical & detail oriented, good management & leadership skills, excellent interpersonal skills & able to interact with senior management.

Key Knowledge

Insurance law & related regulation, system knowledge & understanding, agency & contract law, policy terms & conditions, product knowledge & features, cross‑functional knowledge, quality assurance best practices, good comprehension of compliance guidelines.

Core Values & Behavioural Expectations

• Champion and embody our Core Values in everyday tasks and interactions.
• Demonstrate high level of integrity and accountability.
• Take initiative to drive improvements and embrace change.
• Take accountability of business and regulatory compliance risks, implementing measures to mitigate them effectively.
• Keep abreast with industry trends, regulatory compliance, and emerging threats and technologies to understand and highlight potential concerns/risks to safeguard our company proactively.
• High level of integrity, takes accountability of work and good attitude over teamwork.
• Takes initiative to improve current state of things and adaptable to embrace new changes.

About Great Eastern

Founded in 1908, Great Eastern is a well‑established market leader and trusted brand in Singapore and Malaysia. With over S$100 billion in assets and more than 16 million policyholders, including 12.5 million from government schemes, it provides insurance solutions to customers through three successful distribution channels – a tied agency force, bancassurance, and financial advisory firm Great Eastern Financial Advisers.

The Group also operates in Indonesia and Brunei. The Great Eastern Life Assurance Company Limited and Great Eastern General Insurance Limited have been assigned the financial strength and counterparty credit ratings of “AA‑” by S&P Global Ratings since 2010, one of the highest among Asian life insurance companies. Great Eastern's asset management subsidiary, Lion Global Investors Limited, is one of the leading asset management companies in Southeast Asia.

Great Eastern is a subsidiary of OCBC, the longest established Singapore bank, formed in 1932. It is the second largest financial services group in Southeast Asia by assets and one of the world’s most highly‑rated banks, with an Aa1 rating from Moody’s and AA‑ by both Fitch and S&P. Recognised for its financial strength and stability, OCBC is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.