Deputy Compliance Officer

Munich Re; Singapore; On-site; SGD 80,000 - 110,000; Full time

Job summary

A global reinsurance provider in Singapore is seeking a Deputy Compliance Officer to support the compliance office. The role involves implementing compliance programs, providing legal advisory work, and ensuring adherence to data protection laws. The ideal candidate has at least 7 years of experience in the financial sector, particularly in insurance or reinsurance, and a Bachelor's Degree in a relevant field. The company offers flexible working arrangements and comprehensive benefits.

Benefits

Flexible and hybrid working arrangements

Generous annual leave allowance

Comprehensive dental, life and health insurance coverage

Qualifications

• Minimum of 7 years of relevant experience in a financial institute, preferably from an insurance/reinsurance industry.
• Candidates having dual qualification of compliance and law will have an advantage.

Responsibilities

• Assist the Compliance Officer in implementing a comprehensive compliance programme.
• Perform legal or compliance advisory work for internal stakeholders.
• Monitor developments in insurance supervisory law requirements.
• Support the Compliance Officer in anti-money laundering and sanction compliance.
• Implement robust personal data compliance programmes.

Skills

Organisational skills

Communication skills

Interpersonal skills

Attention to detail

Proactive attitude

Education

Bachelor’s Degree in Compliance, Law, Risk Management, or related disciplines

Job description

Munich Re Singapore (MRS) is part of the Munich Re Group, a global reinsurance provider and risk management solutions. We serve clients across the Asia Pacific and the Middle East region, aiming to deliver innovative reinsurance solutions to our customers.

We are seeking a Deputy Compliance Officer for MRS to strengthen our Singapore Compliance Office; this position offers an opportunity to advance your compliance professional career in a leading global reinsurance company.

The MRS Compliance Office ensures compliance with the Monetary Authority of Singapore reinsurance supervisory law and the Munich Re Group Compliance Management System. In addition to being the Deputy Compliance Officer, you will also undertake the role of the Data Protection Officer. You will be reporting to the MRS Compliance Officer and play a key role in implementing compliance programmes at MRS.

Your Role

• Assist the Compliance Officer in implementing a comprehensive compliance programme for managing compliance risks at MRS such as promoting a culture of compliance, carrying out compliance risk assessments activities, providing compliance staff training, performing compliance monitoring activities and performing compliance reporting to the management;
• Perform legal or compliance advisory work for internal stakeholders on a variety of compliance topic having regards to the requirements of laws, regulatory regulations and Munich Re internal rules and guidelines;
• Monitor developments in insurance supervisory law requirements, communicate such changes in law, perform associated gap analysis and assist management to embed relevant internal controls at the Company;
• Support the Compliance Officer in the compliance execution and monitoring activities of anti-money laundering and sanction compliance process at MRS to ensure adherence to all regulatory and Munich Re Group requirements;
• Perform regulatory liaison matters and handling request related enquiries and request for information;
• Implement robust personal data compliance programmes at MRS for adherence to the Singapore Personal Data Protection Act 2012 and other applicable data protection laws, regulations or requirements; be the go-to person for internal colleagues on data protection related queries;
• Perform any additional responsibilities as assigned by the Compliance Officer.

Your Profile

• Bachelor’s Degree in Compliance, Law, Risk Management, Governance or related disciplines. Candidates having dual qualification of compliance and law will have an advantage.
• Minimum of 7 years of relevant experience in a financial institute, preferably from an insurance / reinsurance industry.
• Strong organisational skills and an ability to work independently and proactively.
• Good communication and interpersonal skills to collaborate cross-functionally with a diverse group of partners.
• Superior attention to detail, accuracy and completeness.
• Have a pro‑active attitude to work, display energy and enthusiasm in approaching the role and maintain high level of productivity.

Our Benefits

• Flexible and hybrid working arrangements
• Generous annual leave allowance
• Comprehensive dental, life and health insurance coverage

At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives and thought. This interaction is our foundation. Of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the center of this interaction is each of us.

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