Regulatory Compliance & Risk Culture, Principal / Consultant

AIA Singapore; Singapore; On-site; SGD 120,000 - 180,000; Full time

Job summary

AIA Singapore is seeking a seasoned Regulatory Compliance professional to help manage and mitigate regulatory risk, with a focus on market conduct requirements. You will collaborate with business units to embed a positive risk culture, provide advisory support, and mentor fellow team members.

Reporting to the Senior Manager, Regulatory Compliance & Risk Culture, your role includes liaising with regulators, delivering timely compliance guidance, conducting gap assessments, and supporting

Qualifications

• Bachelor Degree (or degree equivalent) in accountancy, business, law or related field.
• At least 6 years of relevant experience in market conduct regulatory compliance, preferably in financial services.
• LOMA, CMFAS papers will be an added advantage.

Responsibilities

• Provide ongoing compliance advisory and support to business functions to ensure regulatory compliance.
• Conduct gap assessments on new regulatory developments and ensure timely remediation.
• Liaise with regulators and industry bodies; support reporting to senior management and boards.
• Mentor and coach team members to uplift regulatory compliance capabilities.

Skills

Team player

Understanding of regulation

Liaison & communication

Building trust with regulators

Project management

Presentation skills

Education

Bachelor degree / equivalent

LOMA, CMFAS papers (adv)

Job description

FIND YOUR 'BETTER' AT AIA

We don’t simply believe in being ‘The Best’. We believe in better - because there’s no limit to how far ‘better’ can take us.

We believe in empowering every one of our people to find their 'better' - in the work they do, the career they build, the life they live and the difference they make. So that together we can support even more people - including our own - to live Healthier, Longer, Better Lives.

If you believe in better, we’d love to hear from you.

About The Role

Reporting to Senior Manager, Regulatory Compliance & Risk Culture, this position is responsible to help the Company in managing and mitigating regulatory risk, with a focus on market conduct regulatory requirements. Collaborate with business functions to foster a positive risk culture through effective risk and compliance awareness, engagement, advisory and preventive programs. This position will also provide necessary mentoring and coaching to fellow team members.

REGULATORY COMPLIANCE

• Provide ongoing compliance advisory and support to business functions on various business initiatives, in order to ensure that the business is compliant with existing and new regulations.
• Conduct gap assessments on new regulatory developments, liaise with the various business functions to ensure new regulatory requirements are properly implemented, identified gaps are closely monitored to ensure adherence to regulatory requirements.
• Ensure regulatory compliance registers are kept up to date and timely certified by Senior Management, regulatory obligations are effectively embedded into business, monitor and ensure proper remediation of any lapses noted.

Regulatory Liaison

• Liaise with key regulators and industry associations to ensure that their requests and queries are promptly addressed. Facilitate engagement sessions with key regulators to ensure AIAS’ relationship with key regulators are well managed.
• Review and provide adequate challenge to the business functions on responses to regulators to ensure the Company’s responses are accurate, consistent and of good quality.
• Assist in reporting requirements to regulators, Group, Board of Directors, senior management, and other stakeholders as required.

Other Responsibilities

• Provide necessary mentoring and coaching to upskill fellow team members.

Financial Measures

• To prevent fines and penalties imposed by regulators for non-compliance of regulations

Non-Financial Measures

• Implement regulatory requirements at local level by effectively communicating requirements to relevant departments/staff, identifying gaps, implement action plan to mitigate gaps and provide the necessary training.
• Provides prompt compliance advice when handling queries.
• Complete gap assessments with business functions within stipulated timeline. Ensure new requirements are properly and timely implemented by business.
• Timely reporting to regulatory /statutory bodies. Prompt escalation of issues or potential delays to management.
• All other responsibilities and duties assigned by manager are completed within stipulated deadlines.

Communication Requirements

INTERNAL

• Regular engagement with relevant stakeholders regarding compliance-related issues/concerns/matters/queries.
• Periodic reporting (if required) and handling requests from Group.
• Engagement with Senior Management on important regulatory issues.

EXTERNAL

• MAS, LIA, GIA, CPFB

Requirements

• Bachelor Degree (or degree equivalent) with emphasis on accountancy, business/ business administration/ business management/business studies, insurance or law.
• At least 6 years’ relevant experience, preferably in the financial services industry, focusing on market conduct regulatory compliance for retail customers and liaison with MAS.
• LOMA, CMFAS papers will be an added advantage.

Skills

• Team player
• Good understanding of the Financial Advisers Act 2001 and its subsidiary legislations, guidelines and relevant industry association’s memos and the application to retail business.
• Liaison, relationship building and communication skills e.g. mediation.
• Building trust and credibility with Key Regulators by responding in an accurate, timely and concise manner.
• Project management
• Presentation skills

Believe in better with AIA. If you work at AIA, you play an important part in this movement. Which is why we give you every opportunity to learn, grow and shape your career - your way!

Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives.

You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.

ABOUT AIA

For over a century, AIA has served the ever-changing needs of our customers across Asia-Pacific. Our Purpose to help millions of people live Healthier, Longer, Better Lives is at the heart of everything we do.

As pioneering innovators, we’re now transforming AIA to be faster, simpler and more connected to create better solutions and impactful experiences for our customers and communities. AIA encourages and enables our people to act with clarity, courage and humanity in service of our Purpose.

JOIN US

At AIA, we believe in empowering every one of our people to find their 'better' - in the work they do, the career they build, the life they live and the difference they make. Whether it’s investing better wellbeing, inspiring better learning, building better relationships, or making a better impact on customers, a career at AIA will challenge you to find new ways to pursue your ‘better’.

AIA is committed to building a vibrant, diverse, and inclusive workforce for all employees to thrive in. Join us if you believe in creating a better tomorrow!