FIND YOUR BETTER AT AIA
If you believe in better, we'd love to hear from you.
About the Role
Senior Compliance Manager expected to understand, develop, strategize, implement processes and solutions on any regulatory matters including but not limited to issuances by the Insurance Commission, NPC, CIC, SEC and other applicable regulatory bodies. The Senior Manager also performs risks assessments, compliance testing and gap analysis on new and existing regulations. He or she is also expected to collaborate and lead synergy efforts with compliance and regulatory organizations and bodies.
He or she should provide professional and sound compliance advise to various stakeholders, lead discussions on regulatory matters and provide management guidance and support where necessary.
Governance:
- Review and update of policies and standards related to compliance with general regulations on a regular basis and/or as needed
- Develop local policies and standards in the absence of appropriate Group policy or standard
- Drive and monitor the gap analysis of new and/or amended regulations,advisories,etc. that are being carried out by 1st line functions
- Identify priorities and emerging regulatory risks through scans of local and international regulators and standard-setting bodies
- Identify opportunities to align both strategic and tactical initiatives of the Company to applicable regulations to create more value to the Company
- Immediate/Timely cascade of any material and relevant regulations to relevant stakeholders
- Maintain and keep up to date the regulations database (Sunray).
- Manage / lead the conduct of the Regulatory and Compliance Committee (RCC) meetings under the guidance and instruction of the Chairman and Regulatory Compliance Head.
- Prepare and cascade the action plans and Minutes of the Meeting of the RCC, follow through on the actions, as applicable.
- Develop, review, and maintain KRIs and KPIs applicable to General Compliance and ensure these are adopted across the enterprise
- Monitor general compliance enterprise KRI and ensure these are within the risk appetite.
Reporting:
- Regulatory, Senior Management and Group Compliance Report submissions within TAT
- Prompt reporting of High Operational Risk Incidents (ORI) to Senior Management and Group Compliance
- Coordinate all communications mandated for Regulatory Compliance, except AML and ABC
- Oversight / monitoring of remediation activities by escalating within TAT from knowledge / report by FU to Head of Regulatory Compliance and/or other appropriate party any delayed actions per framework
Expert Advice
- Provide expert advice to the 1st line function in relation to applications of and compliance with general regulations
- Provide SME support to 2nd line and 3rd line in relation to applications of and compliance with general regulations
- Provide SME advice during meetings and discussions with 1st line function, members of senior management, etc.
Assurance
- Defining and executing risk-based compliance testing in relation to general regulations (and other group-mandated assurance activities)
Transformation
- Lead in the identification of transformation activities applicable to general regulations and coordinate with the Transformation Lead within Compliance and other functional units
Education and Training
- Identifying and developing training module relevant to general compliance, if any, through training needs analysis
- Lead and / or conduct adhoc or focus-based regulatory compliance trainings
- Keep the enterprise abreast of all regulatory compliance updates through awareness campaigns and initiatives.
- Continue SME upskilling by attending and /or completing TDA and other related courses or trainings
Strategic and Transformation
- Identify opportunities to align both strategic and tactical initiatives of the Company impacting enterprise regulatory compliance whilst bringing value to the business.
- Lead in the identification of transformation activities applicable to general regulations and coordinate with the Transformation Lead within
- Compliance and other functional units
R&C Others
- Manage / coordinate and regularly submit R&C's ExCo reports
- Serve as the Gatekeeper for Regulatory Developments, Significant Advice, and Risk Assessments, etc.
- Primary contact person/lead for CISA implementation
- General support to the Heads of Regulatory Compliance and PD Risk and Compliance
