You may also like
Head of Compliance, ED - Securities / Global Markets
Senior Compliance Manager, VP - Private Bank / PWM
Regulatory Compliance, AVP / VP - Private Bank / PWM
Vice President, Corporate Bkg Compliance, Legal , Compliance & Secretariat
Manager, AML Compliance , Banking, 1334/1342
- Anti Money Laundering (AML)
- Apache Beehive
- Gap Analysis
- Internal Audit
- Internal Control
- Life Insurance
- Project Management
- Risk Assessment
- Risk Management
Associate Director, Regulatory Compliance
Location: Hong Kong, HK
The position is responsible for:
- Identifying and reporting regulatory risks, both current and emerging, which impact the AIA Group. The monitoring of regulatory risks includes the tracking of both prudential and conduct requirements and specifically, changes to solvency requirements, enterprise risk management frameworks and governance as well as conduct in the jurisdictions in which the AIA Group operates.
- Managing an effective regulatory compliance program at AIA Group covering, among other things, timely tracking and reporting of regulatory developments as well as potential developments and regulatory enforcements trends in jurisdictions in which AIA entities operate.
- Establishing, project managing, implementing and monitoring minimum standards of internal processes to address regulatory compliance risks within AIA entities. compliance risk management process within compliance function in the region.
- Evaluating the effectiveness of the regulatory compliance program (Group & Local Entities).
Identifying and reporting regulatory risks
- Track and monitor key regulatory development affecting AIA Group entities;
- Monitor and follow up with Local Compliance teams on key regulatory development to ensure appropriate gap analysis to be performed;
- Monitor remedial actions to timely rectify any regulatory gap identified;
- Report and escalate key regulatory developments / issues
- Develop process for detecting regulatory trends and enforcement actions; communicate the developments to the Compliance Heads in the region.
- Work with Group Legal in managing the process for tracking regulatory developments (through internal tracking by Legal counsels).
Managing an effective regulatory compliance program
- Facilitate development of the operational requirements of compliance procedures in compliance risk management.
- Development of and on-going improvement of compliance benchmarks.
- Assist with translating regulatory obligations into business solutions (such as tools, policies, procedures, training and checklists).
- Manage and rectify database errors.
- Assess completeness and accuracy of documentation i.e. controls populated by local entities in Beehive, Sunray, eGRC and other pertinent systems.
- Analyze compliance trends, systemic issues across the region and compliance environmental scans for the responsible compliance subject matters.
- Coordinate risk assessment process across AIA Group.
- Mnitor key risk events; progress of remedial actions
- Review risk ratings fr compliance risks; assess significance and escalate to the relevant risk owners
- Develp compliance risk libraries to facilitate Group oversight and risk monitoring.
- Review and challenge effectiveness f controls, mitigation measures and follow up on actions;
- Track risk reprts from Local Compliance team, identify anomalies and work with local entities for rectification.
- Advise and provide support to Local Compliance teams on risk assessment process.
- Regularly communicate and share best practices in risk management with Local Compliance teams and Group Functions, including Group Internal Audit and Group Operational Risk Management.
- Lead monthly compliance community calls.
- Facilitate development of key risk indicators and measurement of risk against those indicators. Raise alert for key unmitigated risks.
Using performance metrics
- Engage with key risk owners (subject matter experts) in Group Compliance to develop compliance metrics for evaluating performance of the compliance program.
- Develop framework for measuring country compliance programs; communicate and measure performance.
Assessing effectiveness of the regulatory compliance program
- Evaluate effectiveness of various compliance program and processes.
- Continually assess, review and enhance delivery of compliance processes.
- Facilitate external benchmarking of key compliance components.
- Work with Group Internal Audit and contribute to identifying and eliminating risk assessment or control testing gaps and/or overlaps.
- Identify assurance coverage and continually identify and eliminate risk assessment or control testing gaps and/or overlaps.
- Promote comprehensive management of risk, issue tracking and response.
- Monitor and review both Group and Local monitoring and testing activities.
- Track and review Internal Audit reports, Group and Local testing reports to identify areas of internal control weaknesses, and ensure appropriate remedial actions to be put in place in a timely manner.
The candidate should have compliance and/or risk background and experience working within an international (regional) environment in life insurance, as well as having the following personal attributes:
- Strong understanding of life insurance business.
- Exposure to risk management practices.
- Proven people and management skills.
- Able to work independently as well as a team player.
- Strong communication skills.
- Ability to deliver training.
- Sharp analytical skills.
- Strong integrity, disciplined work ethics, self-motivated and ability to work under pressure.
A regulatory background including exposure working in a corporate law or regulatory compliance/regulatory affairs function or relevant role within a financial regulator would be advantageous.
|Qualification||AIA Professional Accountancy Qualification|