Associate, Business Risk and Compliance

Great Eastern Life; Kuala Lumpur; On-site; MYR 100,000 - 150,000; Full time

Job summary

A leading company is seeking an Associate for Business Risk and Compliance to support the Fair Treatment of Financial Consumers Plan. The role involves managing risk and compliance tasks, preparing reports, conducting investigations, and collaborating with teams. Ideal candidates hold a degree in Accounting or Finance and possess experience in the Takaful industry. Strong analytical capabilities and knowledge of Risk and Compliance are advantageous.

Qualifications

• 1-2 years of experience in the Takaful industry.
• Basic understanding of Takaful principles.
• Proactive in improving processes.

Responsibilities

• Assist supervisor with portfolio reviews focusing on sustainability.
• Participate in misconduct investigations and gather evidence.
• Prepare reports on governance and risk/compliance activities.

Skills

Leadership

Problem-solving

Interpersonal skills

Business expertise

Data analysis

Risk and Compliance knowledge

Education

Minimum degree in Accounting, Finance, Actuarial Science, or related discipline

Tools

MS Excel

Job description

Job Description - Associate, Business Risk and Compliance (250000TI)

Job Number:

250000TI

About the Job

This role supports the implementation of the Fair Treatment of Financial Consumers (FTFC) Plan for Agency Distribution and manages risk and compliance matters within the department. The associate will work closely with the Manager on initiatives such as review and monitoring plans and awareness programs for agents, ensuring all activities are executed as planned.

Key responsibilities include:

• Assist the supervisor with portfolio reviews of agents and high-tier products sold by agents, focusing on the sustainability of certificates and contribution payments.
• Participate in preliminary misconduct investigations involving intermediaries, gather evidence, and examine customer and internal allegations.
• Analyze data related to certificates to conduct specialized welcome calls, ensuring product relevancy and suitability, including for vulnerable customers.
• Prepare reports and dashboards to update the company on governance and risk/compliance activities.
• Collaborate with Business Development and Customer Experience teams on rectification plans, including findings involving agents from Underwriting, New Business Administration, and Compliance.
• Conduct initial investigations into business/procurement activities by intermediaries to identify suspicious activities or red flags during new business submissions.
• Support the team in awareness and training initiatives related to Fair Treatment and Financial Consumer protections among intermediaries.
• Work with Actuarial and Data Management teams on data analysis and visualization to identify adverse trends in agency business that could pose regulatory, strategic, or Shariah risks.
• Assist in reviewing and addressing gaps in agency processes.
• Ensure compliance with business and regulatory requirements, taking appropriate risk mitigation steps.
• Stay informed about industry trends, regulatory changes, emerging threats, and technologies to better manage risks.
• Identify potential risks and share best practices in risk management proactively.

Candidate Requirements:

• Minimum degree in Accounting, Finance, Actuarial Science, or related discipline.
• 1-2 years of experience in the Takaful industry.
• Basic understanding of Takaful principles.
• Strong competencies including leadership, problem-solving, interpersonal skills, impact, business expertise, and acumen.
• Ability to handle complex data analysis.
• Meticulous, systematic, and team-oriented.
• Excellent skills in MS Excel.
• Knowledge of Risk and Compliance is an advantage.
• High integrity, accountability, positive attitude, and teamwork skills.
• Proactive in improving processes and adaptable to change.

Note: Great Eastern does not accept unsolicited resumes from recruitment agencies. Please do not forward resumes via email or to employees. We are not responsible for any fees related to unsolicited resumes.