Senior / Manager, FA Compliance

4 weeks ago

Singapore INCOME INSURANCE LIMITED Full time
Roles & Responsibilities

Key Responsibilities:

Regulatory Compliance:

  1. Oversight on ensuring regulatory reporting requirements.
  2. Preparing reports and reporting on FA regulatory compliance matters to Income and FA Executive Committees and the Boards.
  3. Assist with review of FA firms' Compliance Risk Assessments and Controls Testing.
  4. Assist in providing regulatory advice or guidance to FA firms.
  5. Assume the role of a Data Protection Officer for FA firms.

AML/CFT:

  1. Oversight on ensuring AML/CFT reporting requirements.
  2. Ongoing monitoring of the fulfilment of all AML/CFT duties by the FA firms. This includes reviewing sample testing and exception reports. E.g. sample testing of the disposition of WLF hits, SAM alerts closed.
  3. Assist in providing AML/CFT advice or guidance to FA firms.
  4. Preparing reports and reporting on FA AML/CFT matters to Income and FA Executive Committees and the Boards.
  5. Assume the role of FA's Money Laundering Responsible Officer.
  6. Approval of AML/CFT cases from FA firms, including STR filing as MLRO.
  7. Review of AML/CFT training materials for FA firms.

Market Conduct:

  1. Oversight on ensuring Market Conduct reporting requirements.
  2. Preparing reports and reporting on FA Market Conduct matters to Income and FA Executive Committees and the Boards.
  3. Review of FA firms' Market Conduct policy/SOP/handbook, e.g. BSC, investigation
  4. Oversight on FA firms' market conduct risks and follow up accordingly with Line 1 or Line 1.5.
  5. Assist in reviewing FA firms' investigations, where needed.
  6. Involved in discussions on the F&P framework that applies to FA firms.
  7. Support in reviewing BSC findings or results, where needed.
  8. Attend all Market Conduct-related panels when FA firms' case is deliberated.
  9. Give advice on Market Conduct and/or guidance to FA firms.
  10. Handle and attend to all LIA matters for FA firms, including attending LIA sub-committee meetings such as Mystery Shopping, etc.

Other/General Responsibilities:

  1. Fronting interactions/communications with regulators and auditors for the FA firms, such as MAS and internal/external auditors. This includes any queries or inspections from MAS or audits conducted by auditors.
  2. Coordinating all responses or actions with stakeholders relating to the above, including working with Line 1 and Line 1.5.
  3. Keep abreast of regulatory developments and industry practices to provide support, advice and guidance on FA compliance matters.
  4. Provide close guidance and coaching to Line 1 and Line 1.5 to deliver consistent expected outcomes with efficiency.
  5. Any other risk, governance or compliance matters assigned.
  6. Have regular sessions with FA CEOs on all of the above items.
  7. Undertake any other tasks or projects assigned from time to time.

Qualifications and Competencies:

  • Experience in the insurance/banking sector or FA would be preferable
  • Minimum of 8 years of relevant experience in Risk, Compliance, or both.
  • Familiarity with and good understanding of MAS insurance and financial advisory regulations, notices and guidelines.
  • Strong communication and writing skills, able to present to and effectively engage with diverse stakeholders.
  • Excellent report writing and presentation skills.
  • Team player with good interpersonal skills, able to work independently as well.
  • Independent and can work with minimal supervision.
  • Has good strategic and critical thinking.
  • Adaptable and motivated to drive changes that lead to improved efficiency and outcomes.
Tell employers what skills you have

Coaching
Report Writing
Risk Governance
Regulatory Compliance
Interpersonal Skills
Critical Thinking
Investigation
Adaptable
Audits
Presentation Skills
Financial Advisory
Team Player
Disposition
Writing Skills
Able To Work Independently

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