Business Governance, Specialist

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About the Role

This position is responsible for assessing and identifying any high-risk Bank Financial Executive through monitoring key risk indicators in Partnership Distribution channel, which requires adequate analytical skills and experience in handling datasets and Complaint Management.
To spearhead the First Line of Defense within the Partnership Distribution channel to uphold the Business Governance of PD, through constant monitoring, effective communication with stakeholders and Bank Partners and strategic initiatives for continuous improvement with reference to the PD Business Quality and Governance Framework.

Roles and Responsibilities:

1. Business Governance Monitoring & Reporting

• To assess, validate and report abnormal trends found in review of Customer Fact Find form and Welcome call with reference to the Business Quality and Governance (BQG) Framework.

• To assist enhance the existing BQG framework for detection, assessment and minimization of Bank sales staff related sales misconduct, mis-selling and other financial related offences.

• To compile and prepare monthly Complaints Statistics report to highlight bank sales staff with high complaints and the common nature of complaint / dispute by customers for sales staff awareness and to mitigate such complaints and make best effort to reduce complaints to zero where possible.

• To assist and compile MCC meeting minutes within 3 WDs after bi-monthly MCC meeting held for HOD review.

• To spearhead the First Line of Defense within the Partnership Distribution channel in collaboration with Sales Compliance to monitor, detect, assess/investigate and report High Risk Bank sales staff and other potential related risk areas in order to minimize the risk of sales misconduct, market abuse, mis-selling, intermediary fraud and other financial crime related offences with reference to the Reprimand Guidelines and BQG Framework.

• To initiate and engage discussion(s) with Sales Heads upon detection of unusual sales pattern and behavior to gather more information for further assessment and to provide advice to the Bank sales staff and PD Sales Team for continuous learning and improvement in their overall sales performance and business quality/governance.

• To assist in preparing statistics for the Annual CFF Quality Review and findings to highlight bank sales staff with poorly conducted customer fact finding at point of sales for improvement and enhance customer

2. Governance

• Conduct awareness session within the division on any new implementation of sales compliance requirement to sales team / bank partner when there is new requirements / direction from Local & Group Compliance / BNM.

• To assist review and follow up on BNM gap analysis review internally as well as liaising with Regulatory Compliance to work toward closing any gaps that are identified or require revising of existing processes / procedures.

• To assist and ensure all SOPs / Process Flow within the Business Governance are up-to-date and updated in CPP portal.

• To assist and support business governance team on BNM thematics review, Group Internal Audit, Local Compliance audit and BNM audit as and when required.

3. Other Tasks

• To follow up closely with sales team on all escalated cases under sales dispute, unreachable / invalid contact, spoken to 3rd party and etc received from welcome call team to ensure bank sales staff revert with a solution and outcome of the feedback raised by customers and close the outstanding cases within the TAT of 21 WDs.

• To identify and provide early warnings to superior on potential business quality risk.

• To ensure all welcome calls / post sales call / 1Customer1Call logged in Case360 under Partnership Distribution - Bancassurance are closed and completed within 21 WDs.

• To assist in bi-annually mystery shopping exercise project planning and engagement with vendor.

• To assist in handling Bancassurance and Telemarketing sales dispute and complaint raised by customers.

• To assist and work with PD Academy team in enhancing training materials to ensure all Bank sales staff are trained and updated with latest BNM/LIAM requirements to mitigate breach of regulatory compliance.

• To assist in business governance project enhancement to align with BNM/LIAM/Local & Group Compliance requirements on latest sales / compliance regulation.

• Performs other responsibilities and duties periodically assigned by supervisor in order to meet business governance operational and/or other requirements.

Minimum Job Requirements:

• Basic to intermediate level of data analytics skills are required.

• Degree holder in Business Administration / Statistics / Insurance or other related courses with minimum 5 years of experience in the insurance industry.

• Added advantages with experience in Life Insurance product, operation, sales compliance, distribution channel, regulatory and internal requirement on ethical sales practices.

• Proficient in using Microsoft Words, Excel, and PowerPoint.

• Result oriented and takes pride in the quality of work, continuously drive process improvements to achieve results.

• Other skills:

  • Organised or structured.

  • Independent and able to work under pressure to meet tight deadline with minimal supervision.

  • Resourceful and reliable in following up and completing task.

  • Good working attitude and teamwork

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