Risk & Compliance Analyst

Canopius Asia Pte. Ltd.; Singapore; Hybrid; SGD 60,000 - 80,000; Full time

Job summary

A leading insurance firm in Asia is seeking a professional to support Risk Management and Compliance activities. The role involves developing an Enterprise Risk Management framework, conducting risk analyses, and ensuring compliance with local regulations. Candidates should have 5-6 years of experience in the insurance industry and a relevant degree. The company offers a comprehensive benefits package including hybrid working and health insurance.

Benefits

Hybrid working

Competitive base salary

Health insurance

Qualifications

• 5 - 6 years of relevant experience within the insurance industry, ideally in risk and compliance functions.
• In-depth understanding of MAS regulations and requirements.
• Good understanding of underwriting processes and insurance products.

Responsibilities

• Support development of the Enterprise Risk Management framework.
• Conduct deep-dive risk analyses and produce assessments.
• Ensure compliance systems meet local regulatory requirements.

Skills

Analytical skills

Qualitative risk management skills

Communication skills

Stakeholder management

Education

Bachelor’s degree in Accounting, Finance, Risk Management, or related field

Tools

MS Office applications

Job description

Risk Management

To assist the Head of R&C APAC on all risk management related activities, providing second line of defence oversight of the business to support the effective management of risk and to meet stakeholder expectations, including those of regulators. The role will contribute to an Enterprise Risk Management (ERM) Framework which identifies, assesses, measures, controls, and reports on significant risks from all sources.

Compliance

To serve as the local Compliance Officer by being the local contact point for all compliance related matters (internal & external stakeholders, interacting with APAC BU and Group as appropriate. To ensure a robust compliance framework is in place that meets the expectations of all key stakeholders including our customers, Lloyd’s, local regulators and authorities. The role-holder will be tasked with upholding the highest standards of integrity, acting in Canopius’ best interests to support business as usual activities.

Key Responsibilities

Risk Management

• To support development and enhancement of the Enterprise Risk Management (ERM) framework and processes for managing risks across the business.
• To support the Head of APAC R&C to develop APAC region specific Risk Appetite Framework and ongoing monitoring of exposures against appetite and tolerance limits aligned with regional strategy.
• To maintain and update the risk profiles for the various capabilities across the APAC region.
• To conduct deep-dive risk analyses and produce decision-support assessments.
• Independently undertake event reporting via Risk Tool.
• Build and maintain strong relationships with internal and external stakeholders which includes but not confined to APAC Exco, APAC R&C Team, Senior Management, Group Governance team, Lloyd’s counterparts, Local Authorities and Regulators.
• Responsible the Singapore Risk Work Plan, including any planned thematic reviews
• Responsible to deliver key ERM processes including but not limited to risk and control assessments, stress and scenario testing, emerging risk identification, and operational risk event reporting.
• Contribute to appropriate risk management information being reported through the governance structure to the CAPL Board and APAC Exco to facilitate clear consideration of all significant (financial and non-financial) risks to the achievement of strategic priorities.
• Promote Risk Culture through training and engagement to embed throughout the business.
• Undertake other ad hoc duties, as necessary.

Compliance

• Ensure compliance systems and controls are effective to satisfy local regulatory requirements.
• Undertake compliance monitoring, financial crime and Anti-Money Laundering (AML) as appropriate, working closely with Group SMEs.
• Assist in coordinating interaction with regulators ensuring preparedness for regulatory reviews.
• Provide support in ensuring that the Branch is aligned with Group Conduct Risk practices, Financial Crime Framework including sanctions, anti-bribery and Anti Money Laundering.
• Act as the main liaison on all compliance and regulatory related matters for the Singapore team including coordinating supervisory actions and ensure regulatory requests and returns are completed within deadlines.
• Deliver the Singapore Compliance Work Plan and implement necessary measures identified.
• Ensure compliance with Lloyd’s Principles, Lloyd’s licenses, applicable byelaw and Market Directives.
• To fulfil the duties of Lloyd's Compliance Officer in accordance with paragraph 40 of the Lloyd's Underwriting Byelaw.

Qualifications

• Bachelor’s degree in Accounting, Finance, Risk Management, or related field; professional certifications or qualifications.
• 5 - 6 years of relevant experience within the insurance industry, ideally in risk and compliance functions.
• In depth understanding of MAS regulations and requirement
• Possess good analytical and qualitative risk management skills
• Good understanding of underwriting processes and insurance products
• Some experience in reviewing processes and conducting assessments against pre-approved criteria
• Some experience of and ability to challenge stakeholders, including presentation of risk and compliance reports
• Ability to manage different priorities across multiple stakeholders
• Good working knowledge of all MS Office applications

Our benefits

We offer all employees a comprehensive benefits package that focuses on their whole wellbeing. This includes hybrid working, a competitive base salary, pension contributions, flexible benefits, discretionary bonus, insurances including health (family) cover, and many other benefits to enhance financial, physical, social and psychological health.

Find out more here: https://jobs.canopius.com/en/sites/CX_1/job/406