About the Company
Together with the SLF Philippines (SLFP) Chief Compliance Officer and Business Unit Compliance Officer (BUCO), the Head of Compliance Governance (HCG) shall be responsible for the overall management of the compliance function of the Philippine entities under the Sun Life Group - Sun Life of Canada (Philippines), Inc. (SLOCPI), Sun Life Grepa Financial, Inc. (SLGFI), Sun Life Asset Management Company, Inc. (SLAMCI), Grepa Asset Management Corporation (GAMC) and the Funds Corporations under the management of SLAMCI and GAMC.
About the Role
The HCG shall help in the promotion, facilitation, monitoring, assessment of compliance of the said entities to certain requirements and policies in accordance with the Compliance Risk Management Framework (CRMF) and its enterprise operating guidelines, policies and procedures. The role will deputize for the BUCO in his or her absence at senior management meetings as well as making decisions on behalf of the Compliance Department, as delegated and where necessary. As a critical member of the SLF Philippines Compliance leadership team, the role will support the BUCO to ensure the Compliance Department provides professional compliance advice and challenge to businesses, providing management guidance and support where necessary. Additionally, the role will have frequent interactions with SLF Philippines senior management, and together with the BUCO, ensures management awareness of compliance risks (and their roles and responsibilities under the three lines of defence model) and fosters a strong risk culture.
Responsibilities
- Support the BUCO to oversee SLFP's compliance with legislations, regulatory expectations and internal compliance requirements (both locally and in Canada), including compliance programs covering Business Conduct, Financial Crime (Anti Money Laundering and Anti-Bribery & Anti-Corruption), Fraud, Market Conduct (including Investment), Privacy, and Regulatory Compliance Management.
- Assists the BUCO in the timely preparation and submission compliance reports to appropriate regulatory bodies, as needed, as well as the regular reports to SLFP senior management, Asia Regional Office and Corporate in accordance with the guidelines and/or templates provided.
- Oversees the monitoring and tracking of new and proposed legislations that are relevant to the Compliance Programs and could affect compliance reporting (except financials and tax matters) related to the operations of SLFP. Updates and apprises senior management regularly of these new and proposed legislations.
- Partnering with other members of the Compliance Department, as well as businesses, designs and develops appropriate policies, procedures and standards to comply with relevant new legislations.
- Assist the Compliance Department in the identification and assessment of compliance requirements relating to products, activities and structure of the SLFP entities in accordance with the Regulatory Compliance Management Program.
- Supervises the delivery of second line of defence monitoring and testing (M&T) reviews, providing advice and challenge to work products delivered by the Asia Compliance M&T for SLFP.
- Conducts training and implements educational programs relating to the rules, policies and guidelines implemented by Compliance.
- In the absence of the BUCO, chairs the relevant Committees under Compliance or attends industry organization meetings representing SLFP.
- Additionally, the role may have other responsibilities as assigned by the BUCO.
Qualifications
- At least a University Degree. A CPA certification or LLB degree is preferred. Equivalent experience in the role with other financial institutions may also be considered.
- 7 years of experience of Compliance management within the insurance and/or asset management sectors is essential.
- Experience in risk management of financial institutions, including insurance, asset management, and/or banking is helpful.
Required Skills
- Well-acquainted with the subsidiaries and the industries in which they operate.
- Brings expert knowledge of existing and new regulatory developments relating to Sun Life Philippines, specifically programs that are overseen by Compliance.
- Leverages this regulatory expertise to ensure the operating procedures and systems, products and practices of Sun Life Philippines deliver compliant outcomes.
- Ensures personal knowledge of regulatory and market conduct trends remains current to ensure compliance programs remain robust and fully meet regulatory and Board expectations.
- Expert level of communication skills covering written analysis, board reporting and delivering presentations.
- Expert level of consulting skills, advising the business in solving regulatory problems.
- Good relationship with regulators.
- In-depth level of knowledge of relevant laws, rules and regulations on insurance and asset management. Knowledge of trust products and services would be preferrable.
- Expert level of knowledge of regulatory compliance requirements and standards.
- In-depth level of knowledge of various financial services products, such as insurance, trust, and mutual funds principles and terminology.
- The position requires that the candidate is able to understand, analyze and advise complex problems relating to compliance and regulations. Must be able to apply that regulatory knowledge to support compliant and efficient policies, processes and business outcomes.
- The candidate must have people management experience and handle staffing related issues as he/she will be managing staff from various functions and levels vis-à-vis regulatory compliance issues and requirements.
- Candidate must be able to represent the company in industry organization committees/boards, regulators and other banking, trust, insurance and asset management companies.
- The successful candidate will communicate professionally and accurately with a range of senior stakeholders including Board members, senior executives across Sun Life Philippines, the Regional teams and the Corporate Office.
Preferred Skills
- Expert level of knowledge of regulatory compliance requirements and standards.
- In-depth level of knowledge of various financial services products, such as insurance, trust, and mutual funds principles and terminology.
