Responsible Officer - New Insurance Brokerage

Financial Women’s Association; Singapore; On-site; SGD 120,000 - 180,000; Full time

Job summary

A financial institution in Singapore is seeking a highly qualified Responsible Officer (RO) to lead their licensing application with the Monetary Authority of Singapore (MAS). This pivotal role involves ensuring regulatory compliance, managing key responsibilities, and advising on regulatory changes, making it essential for operational excellence in the evolving insurance brokerage sector.

Qualifications

• Minimum of 8+ years in insurance or financial services.
• At least 5+ years in a senior compliance or RO role in Singapore.
• Proven track record in obtaining MAS licenses.

Responsibilities

• Lead the preparation and management of the MAS insurance brokerage license application.
• Ensure compliance with AML/CFT, data protection, and corporate governance standards.
• Foster a culture of compliance through training and mentorship.

Skills

Communication

Problem-Solving

Stakeholder Management

Education

Bachelor's degree in Finance, Law, Business

Job description

Inspire is helping an ambitious Financial Institution to expand into the insurance brokerage sector in Singapore and we are seeking a highly qualified Responsible Officer (RO) to lead the licensing application with the Monetary Authority of Singapore (MAS) and ensure ongoing regulatory compliance.

Role Overview:

As the Responsible Officer (RO), you will lead the application process for the insurance brokerage license under MAS guidelines and serve as the primary regulatory liaison. You will ensure adherence to all legal and compliance frameworks while driving operational excellence.

Key Responsibilities:

• Lead the preparation, submission, and management of the MAS insurance brokerage license application.
• Act as the primary point of contact with MAS, addressing queries and ensuring timely approvals.
• Develop and maintain policies and procedures aligned with MAS regulations (e.g., Insurance Act, FAA, BCCM).
• Oversee compliance with AML/CFT, data protection, and corporate governance standards.
• Conduct internal audits and risk assessments to mitigate operational and regulatory risks.
• Advise senior management on regulatory changes and strategic decisions.
• Foster a culture of compliance through training and mentorship for staff.
• Liaise with auditors, legal advisors, and external partners to ensure alignment with MAS requirements.

Qualifications & Requirements:

• Holds (or qualifies for) a valid MAS Responsible Officer license.
• Minimum of 8+ years of experience in insurance or financial services, with at least 5+ years in a senior compliance or RO role in Singapore.
• In-depth knowledge of MAS regulations, licensing processes, and insurance brokerage operations.
• Proven track record in successfully obtaining MAS licenses.
• Strong communication, problem-solving, and stakeholder management abilities.
• Bachelor's degree in Finance, Law, Business, or a related field preferred.
• Strong language skills: Fluent Mandarin and English is needed for this role