Head of Compliance Risk Management

FIND YOUR 'BETTER' AT AIA We don't simply believe in being 'The Best'. We believe in better - because there's no limit to how far 'better' can take us. We believe in empowering every one of our people to find their 'better' - in the work they do, the career they build, the life they live and the difference they make. So that together we can support even more people - including our own - to live Healthier, Longer, Better Lives. If you believe in better, we'd love to hear from you. About the Role In this role, you will lead and oversee the Risk & Compliance Team as a second line of defense in partnership with the business (as first line of defense) to ensure that all regulatory and market conduct risks are efficiently and effectively assessed, mitigated and controlled and that a culture of ethics and compliance is developed and maintained. Responsible for monitoring and reporting results of risk, regulatory compliance and market conduct and provides guidance to the Management on matters relating to risk and compliance. In addition, this position is expected to implement all necessary actions to ensure achievement of the objectives of an effective risk and compliance program in support of the implementation of the strategic directions/initiatives of International Wealth. This role is classified as Material Risk Personnel (MRP) under the Monetary Authority of Singapore (MAS) guidelines Responsibilities: Responsible for the overall design, implementation and ongoing enhancement of risk and compliance program that is focused on regulatory, and sales (market conduct) compliance, whilst ensuring its alignment with business objectives and IWH's strategic directions. Responsible for the development of relevant risk and compliance policies and procedures necessary to support the objectives and values of AIA and for the implementation of corporate policies and procedures to manage corporate-level regulatory risks. Responsible for the effective communication of compliance and risk matters including timely and accurate reporting and/or escalation of such matters in accordance with relevant reporting and escalation protocols. Collaborate closely with Sales team to ensure quality recruitment of representatives and putting in place controls and programs to monitor and ensure quality business brought in by the representatives. Develop or oversee development of structural approach and procedures to effectively deal with representatives/sales staff misconduct. Provide guidance and advisory to internal stakeholders on AML/CFT related matters (which may include MAS Notices, applicable sanctions rules and Anti-Bribery Corruption rules). Oversee the quality assurance associated with PEP, SDN, tax evasion, adverse findings through regular PEP and sanction screening. Oversee quality assurance associated with due diligence and transaction monitoring reviews with the use of data analytics, early warning system reports and AML Systems Prepare regular AML/CFT/ABC related management reports to various stakeholders. Proactively identify areas of improvement (such as automation opportunities, revised operational workflows) and partner with AIA SG Risk and Compliance teams to streamline relevant IWH's risk and compliance operational processes Develop and implement an effective education and engagement program through ongoing communication and training to embed a strong risk culture and ethics. Responsible for structuring, leading, coaching and developing the risk and compliance team to support the business and ensuring deliverables. Requirements: Bachelor's degree holder or, ideally, above, in appropriate field (e.g. Risk Management, Business Management or Law) 10 years solid work experience in the financial industry handling compliance and/or risk controls, and at least 5 years in a senior role. In-depth understanding of the life insurance business preferred and, in lieu of insurance, financial services, knowledge of life insurance industry's operations, regulations and guidelines. Strong domain knowledge and understanding of the AML/CFT regulatory requirements (such as MAS Notice 314), AML/CFT control processes and various sanctions rules (such as those from UNSC, OFAC, EU, HKMA), A highly disciplined and independent leader with the ability to motivate and engage all levels of staff in organization Excellent interpersonal skills Independent and able to work under pressure. Organized, detail-oriented and analytical. Possess strong leadership, coaching and influencing skills; strong business acumen; effective change management skills; problem solving and decision-making skills. With high level of integrity and takes ownership and accountability of results. Must meet MAS "fit and proper" criteria If you work at AIA, you play an important part in this movement. Which is why we give you every opportunity to learn, grow and shape your career - your way Believe in better with AIA. #LI-FH1 Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives. You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.