Senior Officer, Compliance

7 days ago

Singapore Chinalife Full time

China Life Insurance Company Singapore (CLIS) aims to cultivate a strong sense of belonging among all employees through a people-oriented corporate culture.
Position Objective:
The incumbent will support the Head of Risk & Compliance in managing the Company’s AML/CFT obligations and other regulatory compliance risks, ensuring adherence to local and international regulatory standards.
Job Description:
Liaise with AML/CFT system service provider and IT Department to troubleshoot issues relating to the Company’s AML/CFT system.
Review and advise Business Units (BUs) on name matches in AML/CFT screening system.
Assess and discharge name match alerts escalated to R&C.
Provide AML/CFT and FATCA/CRS regulatory related advisory to BUs.
Perform Enhanced Customer Due Diligence on High Risk Customers and Escalate High Risk Customers identified to Senior Management for review and decision.
Review AML/CFT exception reports, and escalate suspicious transactions for review and reporting (if required).
Assist in the update and maintenance of the High-Risk Country List.
Assist in the preparation of risk and compliance reports for submission to Senior Management.
Prepare and submit FATCA & CRS Annual Tax Return.
Perform Name Screening and Due Diligence on Business Partners (Distribution partners, outsourced vendors & Introducers).
Perform Enhanced Due Diligence on High Risk Business Partners.
Perform thematic Quality Assurance Reviews to ensure that appropriate controls and processes are in place at Business Units to comply with regulations and Company’s policies.
Review product and marketing collaterals developed by the Company to ensure compliance with regulatory and industry requirements.
Conduct compliance and regulatory related trainings to Staff / Officers / Representatives.
Keep track of regulatory developments and provide relevant update and advice to Business Units.
Assist in the update and maintenance of relevant AML/CFT and related regulatory policies and manuals.
Assist in following up with BUs on request of regulators, external auditors and CLIO.
Any other work as may be assigned
Job Requirements:
Recognized degree or diploma in a related field.
Minimum 3 years of experience in compliance within the life insurance industry.
Familiarity with life insurance products and the Singapore life insurance market is preferred.
Strong understanding of local regulatory requirements and industry practices.
Positive attitude, meticulous, and proactive with a strong eagerness to learn.
Professional certifications such as CMFAS M5, M9, M9A, CHI are advantageous.
Strong analytical, problem-solving, and organizational skills, with the ability to manage multiple tasks efficiently.
Ability to work independently while collaborating effectively across teams and functions.
Fluent in both spoken and written English and Chinese.
Seniority level
Not Applicable
Employment type
Full-time
Job function
Analyst, Public Relations, and Legal
Industries
Insurance, Financial Services, and Accounting
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