Assist the Head of Compliance (HoC)/ Senior Manager (SM) / Manager to implement compliance program as per the approved Compliance Plan and provide compliance supports to all stakeholders within STMKB and subsidiaries to ensure internal processes do not contravene current and/or proposed legislation and regulations. Monitor market conduct activities overseeing sales practices of the intermediaries across distribution channels, conduct reviews through periodic sampling and testing to identify and address potential compliance issues.
Job Description
1) To assist the HoC/ SM/ Manager to develop, maintain and update sales compliance and market conduct policy and processes align with regulations and company standards.
2) To assist the HoC/ SM/ Manager to market conduct monitoring and oversight in terms of :-
- Conduct periodic sampling and testing to identify and escalate any issues/ incidents/ gaps.
- Review and analyse findings from mystery shopping exercises, recommend appropriate actions.
- Conduct trend analysis, highlight any findings and implement appropriate measures.
- Develop and monitor key risk indicators (KRI) to detect and address potential conduct issues.
3) Investigations & Remediations
- Lead internal investigations into market conduct cases, including fact-finding, interviews, evidence review, and reporting.
- Prepare investigation reports in line with Service Level Agreements (SLAs).
- Collaborate with business units to design and implement remediation plans to address control deficiencies and ensure timely closure.
- Track remediation actions and identify opportunities for process and control enhancements.
- Investigation outcomes and key findings to management committees.
4) Training, awareness & business support
- Promote an ethics-based culture through training, awareness initiatives, and communication campaigns.
- Conduct and support compliance training for employees and distribution channels to improve awareness of market conduct standards and sales documentation requirements.
- Provide advisory support to agency leaders and business units on conduct-related queries.
5) Reporting & Governance
- Support the design and implementation of operational controls that strengthen market conduct governance.
- Provide management with compliance metrics, dashboards, and reports for informed decision-making.
- Support regulatory reporting and internal audits related to sales activities.
6) To execute any other tasks assigned by HoC/ SM/ Manager.
Qualifications & Requirements
- Degree in insurance, law, accounting or any other relevant disciplines.
- or any Compliance-related professional certification e.g. ICA, CAMS, CCO, CFE.
- Minimum 7 years of relevant experience in Compliance or Audit. Preferably in an insurance/ Takaful company.
- Strong understanding of market conduct regulations, consumer protection frameworks, and regulatory expectations.
- Experience in fraud risk management and/or internal investigations.
- Solid knowledge of takaful products, services, and distribution channels.
- Excellent written and spoken communication skills in English and Bahasa Malaysia.
- Strong analytical, problem-solving, and presentation skills.
- Approachable, self-initiator, exceptional communication and interpersonal skills.
