Manager/Assistant Manager, Shariah Compliance

Zurich Insurance; Kuala Lumpur; On-site; MYR 120,000 - 210,000; Full time

Job summary

Zurich 56 Company Ltd in Kuala Lumpur is seeking a Manager/Assistant Manager, Shariah Compliance to lead compliance initiatives in a regulated insurance context. You will identify and manage Shariah compliance risks, advise senior management, and interface with supervisory bodies to uphold Zurich's governance standards.

The role requires 8–10 years in insurance or Takaful with Shariah focus, strong regulatory understanding, and excellent stakeholder management capabilities.

Qualifications

• 8 to 10 years of experience in the insurance or Takaful industry with a focus on Shariah compliance.
• Strong understanding of regulatory requirements and supervisory expectations.
• Excellent stakeholder management and communication skills.

Responsibilities

• Promote an ethics-based culture and ensure alignment of Compliance strategy with business goals.
• Advise first line of defense on policies, controls, and risk mitigation.
• Conduct compliance risk assessments and report results to management and committees.
• Maintain oversight and reporting to relevant stakeholders per internal policies.

Skills

Shariah compliance

Insurance industry

Regulatory knowledge

Job description

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Manager/Assistant Manager, Shariah Compliance

124611

Purpose

Promotes an ethics-based culture, delivering practical solutions, guidance and training, identifies and manages Compliance Risks of higher complexity, implementing policies, processes and controls related to the Compliance Risk Universe of moderate complexity to complex. Interacts with supervisory bodies whenever required.

Key Accountabilities

• Ensure Compliance strategy is aligned with business strategy, legal requirements and trends.
• Promoting Ethic Based Culture, implementing training and awareness activities and provide management with relevant metrics.
• Assess new complex laws and trends and their applicability and implementation to Zurich’s operations in the jurisdiction, in alignment with Legal, in order to ensure that the Compliance Risk Universe are fully identified and managed.
• Advise the first line of defense with respect to policies (i.e. their adoption, development, implementation and maintenance), practical guidance, training, relevant controls, and processes for mitigation of risks within the Compliance Risk Universe.
• Advise and support management in its regulatory relationship management regarding topics from the compliance risk universe thereby upholding the organization’s public image.
• Identify and interact with internal stakeholders to further comprehend the functional mandates and ensure functional involvement in matters of relevance.
• Ensure that relevant stakeholders are informed, understand and support Compliance activities and prioritization.
• Evaluate business activities (e.g. proposition management, investments, etc.) to assess compliance risk.

Essential Job Functions

• Conduct regular awareness campaigns reminding employees of the respective Group Policy and how they can report a violation or a concern.
• Advise and support first line of defense with regard to the adoption of Compliance Policies.
• Perform Compliance Oversight, establishing and maintaining reports to relevant stakeholders, as foreseen in internal policies and local regulation.
• Conduct the annual compliance risk assessment to satisfy internal and regulatory requirements and communicate assessment results to management, governance committees and other stakeholders, as applicable, coordinating action plans settlement whenever is necessary.

Additional Job Functions

• May perform assurance to the business that the function inherent risks are being identified, managed and mitigated where possible.
• Share assurance activities’ results and agree on actions with management and other relevant stakeholders and follow up with business on agreed improvement actions.

Requirement

• 8 to 10 years of experience in the insurance or Takaful industry, with a focus on Shariah compliance.

We are committed to continuous improvement, and we offer access to a comprehensive range of training and development opportunities. Zurich is passionate about supporting employees to help others by getting involved in volunteering, charitable and community activity.

So, make a difference. Be challenged. Be inspired. Be supported, Love what you do. Work for us.

You are the heart & soul of Zurich!

At Zurich, we like to think outside the box and challenge the status quo. We take an optimistic approach by focusing on the positives and constantly asking What can go right? We highly value the experience and know-how of our employees and offer a wide range of opportunities across business areas to encourage you to apply for new opportunities within Zurich when you are ready for your next career step. We’re proud to have earned Great Place To Work Certification. Our company culture is our top priority! #GPTWcertified

Location(s): MY - Kuala Lumpur
Schedule: Full Time