The Assistant Manager, Compliance will be overall responsible to provide compliance support to the Company and ensure that the Company remains in compliance with Bank Negara Malaysia (BNM) Guidelines, the Financial Services Act 2013 and all circulars and notifications issued by the General Insurance Association of Malaysia (PIAM) and any other relevant regulatory body.
Responsibility:
Responsibility:
- Ensure timely dissemination of relevant guidelines issued by relevant regulators, statutory agencies and industry associations and timely submission of regulatory and non-regulatory reporting by the Company.
- Regularly monitor for updates to ensure that the company is aware of the latest regulatory requirements and liaise with the relevant bodies for information, clarification and verification, if necessary.
- Assist in ensuring that the Company continuously complies with AML/CFT requirements by performing AML/CFT and sanctions screening review and clear sanctions hits as well as reviewing suspicious transaction reports (if any) prior to submission to the relevant regulators.
- Assist in reviewing guidelines issued by relevant regulators, statutory agencies and industry associations to ascertain the regulatory requirements, identify regulatory gaps and disseminate both requirements and findings and thereafter follow-up with the relevant stakeholders until regulatory gaps are closed.
- Assist in performing regular compliance risk assessments including the monitoring and testing of internal controls to evaluate the adequacy of the controls put in place to manage compliance risk and promptly follow up on any identified deficiencies and plans to address such deficiencies.
- Assist in organising, co-ordinating and providing compliance related training and awareness to employees on the latest compliance updates and relevant regulatory requirements governing the Company’s activities.
- Assist in the preparing and drafting of Compliance Reports to senior management and Board to be reviewed by the Head of Compliance.
- Assist in the reviewing of relevant product documentation and marketing materials to meet statutory and regulatory requirements including but not limited to brochures, proposal forms and product disclosure sheets.
- Assist in providing advice to business lines and support units on regulatory developments and related regulatory requirements.
- Assist and provide support to the Head of Compliance to ensure that the Compliance department achieves and completes its annual compliance activities and initiatives.
- Perform any other duties assigned by the Head of Compliance as and when necessary.
- Bachelor’s Degree in Management, Business Administration, Finance, Law or any Compliance core-related discipline.
- Minimum 3 – 5 years working experience related to this field. Experience working in the financial sector i.e. insurance or banking would be an added advantage.
- Good understanding and knowledge of internal control environment (i.e. Compliance, Audit and Risk Management).
- Good communication skills, good documentation and record-keeping skills.
- Good analytical skills, fair personal management skills and proficiency in MS Office applications.
- Good understanding of operational environment of either general or life insurance business would be an added advantage.
- Good understanding of the implications and complexities of the local regulatory environment in order to carry out the responsibilities of the job as prescribed.