Regulatory Advisory Officer

Job Summary:
The role of the Regulatory Advisory Officer is to provide compliance advisory, guidance and support to the Business Units (BUs), in compliance with prevailing regulatory/industry and/or Prudential/Head Office requirements, including the management of communications with key regulators and industry associations. You will be supporting your Team Lead to deliver the following key deliverables:
Compliance Advisory
- Work with BUs to understand BUs’ issues/concerns and provide accurate and practical compliance advice in a timely manner
- Work with BUs to provide compliance advisory, guidance and support for their initiatives, including development, implementation and maintenance of robust policies, procedures and practices to address regulatory, industry and/or Prudential/Head Office requirements
- Provision of advice and support to BUs to ensure that all regulatory compliance risks, on Marketing Materials, whether related to the product, sales process or subsequent services, are identified, appropriately addressed and managed

Monitoring and Implementation of Regulatory/Industry Changes
- Monitor regulatory and industry developments for any new, amended or upcoming laws/regulations/guidelines and identify any potential business impact to Prudential business.
- Disseminate relevant new, amended or upcoming laws/regulations/guidelines to relevant BUs
- Work with BUs to understand their business processes/procedures, provide guidance and oversight to identify gaps through detailed gap analysis and implement appropriate follow-up actions (e.g. develop/change processes in a sustainable manner, institute policy/SOPs etc) to close gaps in a timely manner to address regulatory/industry changes and Prudential/Head Office requirements
- Participate in consultations/surveys of regulatory requirements and industry guidelines where required

Regulatory Liaison
- Liaise with key regulators, industry associations (eg. MAS, CPFB, LIA etc.) and ensure that their requests and queries are promptly seen to
- Challenge business units on their responses to queries from regulators and industry associations, to ensure that they are responding to the intent of the query in full
- Assessing and escalating any matter or issue that could be of significant regulatory concern, including the assessment of incidents to determine if it constitutes a regulatory breach, and ensure that breaches are notified to the regulators in a timely manner

Others

Undertake ad-hoc tasks, projects or reviews as directed by Head of Regulatory Affairs/Head of Compliance/Chief Risk Officer

Who we are looking for:
Competencies & Personal Traits
- Self-motivated and driven
- Analytical and attentive to details
- Good business acumen
- Good problem-solving skills
- Good communication skills
- Basic understanding of the insurance industry and operations
- Basic knowledge of regulations and industry guidelines applicable to the insurance/financial industry such as Insurance Act, Financial Advisers Act (FAA) and its subsidiary regulations, Monetary Authority of Singapore (MAS) regulations, Central Provident Fund (CPF) Board regulations, Life Insurance Association (LIA) guidelines

Working Experience:
At least 1-2 years of experience in a compliance role in a financial institution

Professional Qualifications:
Preferably with Insurance-related certifications (e.g. FLMI (LOMA), CMFAS Module 5, 9, 9A & Health Insurance)

**Education**:
Degree, preferably in Business, Insurance or Finance related fields

**Language**:
Strong command of the English language