Assistant Vice President, Regulatory Compliance

The Great Eastern Life Assurance Company Limited; Singapore; On-site; SGD 140,000 - 210,000; Full time

Job summary

The Great Eastern Life Assurance Company Limited is seeking an experienced regulatory compliance professional to drive the Compliance Risk Management Framework for GE entities in Singapore. You will support business units in meeting applicable laws and regulations, liaise with MAS, LIA and GIA, and oversee localisation of Group policies and guidelines.

With 8–10 years in insurance regulatory compliance, you will monitor regulatory developments, manage compliance incidents, and lead CRSA

Qualifications

• Minimum 8–10 years working experience in regulatory compliance in the insurance industry.
• Sound knowledge of Insurance Act, Financial Advisers Act, Life Insurance Association/General Insurance Association guidelines and best practices affecting the insurance industry.
• Proactive, resourceful and able to multi-task.

Responsibilities

• Regulatory liaison with MAS, LIA, GIA and other authorities; coordinate with stakeholders on inspections and requests.
• Provide compliance advisory on regulatory requirements to business units and participate in new projects.
• Oversee local entities on compliance matters, localization of policies and guidelines.
• Identify regulatory developments and monitor industry trends to safeguard the company.
• Handle compliance incidents and track resolution on action plans.
• Trigger CRSA for applicable laws to implement required controls.
• Support eGRC enhancement testing and advise stakeholders.
• Prepare and coordinate compliance-related matters and meeting materials.

Skills

Regulatory compliance

Stakeholder management

Analytical skills

Communication skills

Multi-tasking

Independent and collaborative work

Job description

You will be part of a team to drive and implement the Compliance Risk Management Framework and compliance requirements for all GE entities within the Group, by effectively supporting the business units in their duty to comply with relevant laws and regulations.

Key Responsibilities

• Key regulatory liaison with MAS, LIA, GIA and any other authorities which include coordination and facilitation with business stakeholders on inspections, information requests and queries promptly;
• Provide compliance advisory on regulatory requirements to business units and be involved in new initiatives/projects to understand business units’ concerns/needs;
• Provide oversight and support to the local entities on general compliance matters/Group initiatives, including localisation of Group policies, standards and guidelines where required;
• Identify and assess the impact of any regulatory developments. Keep abreast of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company;
• Responsible to handle compliance incidents across GE Group. This would include monitoring of the timely compliance events reporting by business units and tracking of resolutions on action plans;
• Trigger the Compliance Requirement Self Assessments (CRSA) for applicable laws and regulations to impacted business stakeholders to implement the required compliance controls.
• Support the eGRC system enhancement testing/UAT and provide advice to relevant stakeholders;
• Responsible for the preparation and coordination of compliance related matters, which shall include arrangement for the management meetings, preparation of meeting materials/ compliance related reports and information gathering;
• Carry out ad-hoc tasks/projects as requested by the immediate Supervisor and/or Head of Group Regulatory Compliance;

Qualifications

• Minimum 8 – 10 years working experience in regulatory compliance in the insurance industry;
• Sound knowledge of Insurance Act, Financial Advisers Act, Life Insurance Association/General Insurance Association guidelines and best practices affecting the insurance industry;
• Lead initiatives and self-motivated;
• Ability to build relationship with internal and external stakeholders;
• Meticulous, good analytical and problem solving skills;
• Good communication and interpersonal skills;
• Able to multi-task and work under pressure;
• Adaptable to embrace new changes;
• Able to work independently and collaboratively;
• Proactive, resourceful and able to multi-task.

:SG-GE Centre

:Risk Management