What You Will Expect:
As person in charge of Agency Business Quality & Governance (ABQ) to spearhead the First Line of Defense within the Agency Distribution channel to uphold the Business Quality of Agency Force, through constant monitoring, effective communication with stakeholders and development of new market intelligence and strategic initiatives for continuous improvement with reference to the Standard Operating Procedure (SOP) of ABQ and Business Quality Framework.
What You Will Do:
Active Monitoring via Data Analytics:
- Monitor & Report: Track high-risk outlier agents/agencies using key indicators (e.g., portfolio, persistency ratio, policy status) to detect potential misconduct or financial crimes.
- Follow-up Actions: Alert Agency Executives on business quality risks with proposed corrective measures for high-risk agents/agencies.
- Continuous Improvement on Detection Framework: Continuously improve tools to identify and prevent sales misconduct, mis selling, and fraud.
- Develop Key Indicators: Update or create new risk indicators to reflect emerging misconduct patterns.
- Root Cause Analysis: Investigate customer complaints and incidents linked to agent misconduct or fraud.
Business Quality Framework and Governance:
- Implement & Monitor: Oversee the Business Quality and Governance Framework, including post-sales, social media screening, and agency conduct monitoring.
- Collaborate: Work with various departments (APAC, Sales Compliance, etc.) on sales quality issues and continuous improvement.
- Engage Agents: Investigate unusual sales patterns, provide guidance, and promote learning for better sales performance.
- Compliance & Reporting: Ensure regulatory compliance and assist in preparing reports for management committees.
Mystery Shopping & Market Surveillance Initiative:
- Market Research & Execution: Plan and review mystery shopping and market intelligence activities and ensure effective execution of the mystery shopping exercise.
- Vendor Support: Guide vendors in training shoppers and collecting information.
- Follow-up Actions: Track and report on corrective actions from relevant departments.
- Best Practices: Analyze competitor practices and recommend improvements for sales quality.
- Reporting: Present findings and corrective actions to management.
Other Responsibilities:
- Investigations on ad-hoc escalations: Assist with investigations and assessments using various monitoring tools.
- Sales Analysis: Monitor sales data and identify risks related to fraud, compliance, and business quality.
- Learning & Development: Develop compliance training based on the latest guidelines.
- Initiative Leadership: Lead compliance and business quality campaigns as directed.
What You Will Need:
- Masters or Bachelor's Degree in Actuarial Science, Insurance, Accounting, or other related discipline with at least 6 years of experience in the insurance industry with related experience.
- Candidates with Law / Legal qualification and/or proven experience in investigation will have definite advantage.
- Minimum 7 years working experience in the insurance industry; with good understanding and experience in Life Insurance product, operation, sales compliance, distribution channel, regulatory and internal requirement on ethical sales practices.
- The candidate must have experience in data analytics; hands-on experience with Power BI is a definite advantage.
- Acquired Intermediary Investigation, and/or Audit and Management skills and experience within the Insurance and Banking Industry.
- Good work ethics, able to work independently with minimum supervision, resourceful and reliable in following up and completing tasks.
- Result-oriented and takes pride in the quality of work, continuously drive process improvements to achieve results.
- Proficient in English with strong communication, interpersonal and presentation skills.
- A manager who can lead the unit and able to communicate with all levels of staff, and able to maintain good working relationship and harmony with all stakeholders.
- Proficient in Microsoft Words, Excel, and PowerPoint.
