Regulatory Compliance, Principal

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About the Role

Responsible for ensuring compliance with regulations and internal policies and for liaising with regulators with regard to regulatory compliance

Roles & Responsibilities:

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.

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).
• 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.
• 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