Regulatory Compliance, Principal

FIND YOUR BETTER AT AIA

If you believe in better, we'd love to hear from you.

About the Role

To support the Associate Director, Compliance to ensure that AIA Bhd. operates in accordance with the AIA Group policies and guidelines and local regulatory requirements in the following areas and towards this end, driving and overseeing implementation of compliance frameworks in these areas:

- Regulatory and Product Compliance
- Compliance Reporting
- Combined Assurance
- Other regulatory and corporate requirements

Roles & Responsibilities:

1. Regulatory & Product Compliance

• Representing AIA Bhd. in local regulatory matters, projects and initiatives by fulfilling the respective requirements and obligations. Ensure AIA Bhd. is in compliance with all applicable regulatory requirements.
• Collaborate with product development teams to integrate compliance considerations into product design and development process.
• Review product-related materials (e.g., PDS, brochures, marketing collaterals) to ensure compliance with regulatory requirements and internal standards.
• Implement applicable compliance policies/protocols, risk assessment process and relevant back-end procedures to comply with applicable policies/standards and regulatory requirements for AIA Bhd.
• Ensure quality, accuracy and appropriateness of any regulatory compliance submissions to local regulatory authorities.
• Co-ordinate to ensuring e-learning programmes and code of conduct annual certification are properly completed by all employees.
• Consult with Group Compliance and relevant business units in resolving issues related to regulatory compliance implementation.
• Conduct gap analysis to ensure compliance with relevant guidelines including those issued by BNM, LIAM, AIA Group and other authorities.
• Update and maintain regulatory database which consist of all local regulatory requirements.
• Proactively engage with business and provide advice / guidance to mitigate key compliance risks.
• Strengthen compliance engagement with business units to educate and increase awareness of regulatory developments, ethics and compliance risks.

2. Compliance Reporting

• Prepare and submit reports to Group Compliance and other related internal reports such as to ORC, EXCO, and Board of Directors.
• Liaise with first line risk owners in ensuring timely submission of regulatory reporting obligations (including update of reporting register due to changes).

3. Combined Assurance

• Conduct compliance reviews on business units and third parties.
• Undertake monitoring and follow up with relevant stakeholders on agreed actions and any non-compliance issues until they are satisfactorily resolved/implemented.

4. Others

• Perform other responsibilities and duties periodically assigned by line manager in order to meet operational and/or other requirements

Minimum Job Requirements:

• Bachelor degree in Accounting, Finance, Business or Law with minimum of 5 years of managerial experience in the related field.
• Knowledge of local AML, legal / regulatory requirements
• At least 5 years in compliance, internal control or related work experience in financial service industry. Preferably in insurance industry.
• Good Interpersonal and communication skills and self-motivated
• Pro-active, demonstrates initiative & looks for area of improvement.
• Good written and spoken communication skills in English and local language
• Strong analytical and presentation skills