AVP, Banca Product Regulatory & Sales Process

Alliance Bank Malaysia Berhad; Kuala Lumpur; On-site; MYR 120,000 - 180,000; Full time

Job summary

Alliance Bank Malaysia Berhad seeks an experienced regulatory compliance professional to oversee Bancassurance sales processes and ensure alignment with BNM guidelines. You will lead risk assessments, attestations of compliance, and coordinate with risk, compliance, legal and operations to close any regulatory gaps.

The role includes advisory on regulatory sales procedures, staff training, and supporting audits and regulatory reporting for Bancassurance products and distribution channels.

Qualifications

• Degree in a relevant field; strong regulatory knowledge in bancassurance and sales processes.
• Experience applying BNM/Bank Negara Malaysia guidelines and any related circulars.
• Minimal 5 years in compliance & control or equivalent; banking product familiarity an advantage.

Responsibilities

• Oversee sales regulatory process development and maintenance to close regulatory gaps.
• Lead risk assessments and attestations of compliance (AOC) against BNM guidelines.
• Coordinate with risk, compliance, legal and operations to remediate compliance gaps.
• Provide training and advisory on regulated sales processes for staff and leaders.
• Prepare regulatory reports and support internal/external audits for Bancassurance.

Skills

Regulatory compliance

Bancassurance

Risk management

AML screening

Policy advisory

Education

Bachelor's degree in a relevant discipline

Job description

Overseeing all sales regulatory process and procedure (bancassurance - life and general) and provide advisory on strategic decision making concerning compliance regulated process and procedure.

Responsible to develop, enhance and maintain up-todate documentation of sales process and procedure to meet or close regulatory requirement process gap and all regulated sales process training materials

Lead and responsible in perform Bancassurance products sales process related risk matrix assessment and attestation of compliance (AOC) against BNM Notifications and Guidelines

Closely engage insurance partners & internal sales leaders for Bancassurance products ensure alignment of regulated procedure and management of quality of sales i.e. continuous reviewing pre sales call script ensure relevancy

Closely engage risk officers, compliance partners to ensure alignment with policies and guidelines and process and procedure are up to-date

Subject matter expert in providing regulatory advisory for Bancassurance products and regulated sales process i.e. life and general

Perform AML name screening and review of all partners - new during on boarding and existing on annual basis

Provide day to day regulatory sales process advisory to sales leaders and salesperson

Conduct training on regulated sales process and procedure for new hires and existing staff

Job Responsibilities 1. Compliance and Risk Management

Responsible to develop internal controls and product sales process and procedure (SOP) inclusive forms and implementation of regulated sales process to meet regulatory requirement develop and enhancement of forms, to ensure that all compliance and regulatory requirements are met.

Conduct Gap analysis and Attestation of Compliance (AOC) assessment on regulatory guidelines requirements and identify the solution.

Work with internal stakeholders (Risk, Compliance, legal and operations department) to review and address department process for compliance issues and sales operation matters.

Coordinate remediation of identified compliance gaps.

2. Product and Campaign Management / Partnership

Participate in new product, enhancement and campaign launch assessment to spot and address the compliance and risk matters.

Project optimizing the regulatory requirement and product sales process.

Review and advise on the product marketing materials compliant with the applicable regulatory requirements.

Review the assessment of CDD/KYC for onboarding of new business partners i.e. Screening and EDD matters.

Prepare approval memo / notification letter to empanel new business partners.

Review proposed customer/staff campaigns and tactical sales incentives terms and condition from a risk and control perspective.

3. People Management – Training and Advisory

Provide product sales process and procedure training and support to sales leaders and salesperson.

Provide regulatory and compliance advice to product team and sales leaders and salesperson.

Develop training materials and communication materials on changes or revision of product sales processes.

4. Regulatory Reporting and Audit

Preparation of documents supporting regulatory compliance and reporting and survey.

Key liaison person and to lead for Bancassurance internal and external audits matters.

Prepare regular compliance and operational-risk updates for Bancassurance management.

Job Requirement

Good interpersonal skills with the ability to communicate effectively across all levels.

Good leadership and influencing skills.

Good judgment, assessment, analytical and meticulous.

Excellent work ethic (honest, respectful, self-motivated, work independently with minimal supervision, works well under pressure, readily adapts to changing work priorities and is accountable).

Excellent organization and prioritization skills

Good understanding of sales advisory regulations and guidelines.

Education / Knowledge

A university degree (in relevant disciplines) or its equivalent.

Basic knowledge in Banca business related regulatory to formulate compliance sales process and procedure and implementation.

Well verse in BNM guidelines in relation to product and distribution requirements / changes i.e. BNM BSC, etc.

Experience

5 years experience in compliance & control or it’s equivalent.

Experience in consumer banking products, sales and processes would be an advantage.

Experience in regulatory audit.

Interprets internal and external guidelines and recommends best practices to improve product sales process.

Alliance Bank Malaysia Berhad and its subsidiary, Alliance Islamic Bank Berhad, offers banking and financial solutions through its consumer, SME, corporate, commercial and Islamic banking. The Bank provides easy access to its broad base of customers throughout the country via multi-pronged delivery channels that include retail branches, Privilege Banking Centres, Business Centres, Investment Bank branches, and mobile and Internet banking.

About Alliance Bank Malaysia Berhad

Alliance Bank Malaysia Berhad and its subsidiary, Alliance Islamic Bank Berhad, offers banking and financial solutions through its consumer, SME, corporate, commercial and Islamic banking. The Bank provides easy access to its broad base of customers throughout the country via multi-pronged delivery channels that include retail branches, Privilege Banking Centres, Business Centres, Investment Bank branches, and mobile and Internet banking.