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Assistant Vice President, Compliance

Keywords / Skills : Vice President, GM, AVP, Director, President, COO

10 - 13 years
Posted: 2019-11-10

Software Engineer/Programmer
Professional qualification
Posted On
10th Nov 2019
Job Ref code
Job Description
Job Description :


The position is to provide Compliance services across the Companys business operations to ensure understanding and compliance with all relevant laws and regulations.

  • Establish and embed a strong and positive Compliance culture across the Company, which includes providing updates, designing and delivering Compliance training on the relevant laws, regulations, BNM Policy Documents, PIAM Circulars, regional and local Policies, Regulations and Guidelines governing the business as required.
  • Develop Compliance and AML/CFT policies, manuals and procedures as well as monitor and report on Compliance and AML/CFT matters.
  • Facilitate implementation of regional and local Policies, Regulations and Guidelines owned by Senior Vice President Compliance & Enterprise Risk Management as well as coordinate and monitor adoption, implementation and maintenance of regional and local Policies, Regulations and Guidelines.
  • Be the central liaison for and custodian of Compliance documents, which includes the management of an Hub based e-Compliance repository.
  • Formulate Terms of Reference and set up of the Compliance and Board Compliance & Risk Management Committees.
  • Facilitate supervisory reviews, PIAM inspections and JIA audits.
  • Supervise in BNM Benchmarking submissions.
  • Deal with all regulatory and regional requirements on Compliance, e.g. Compliance Program, Compliance Risk Assessment and Profile, sanction screening, QMCL via eCHECK system, RTP, Market Practice, DUA/Sanction Incident Reporting via eGRC system, Complaint Reporting, Quarterly Reporting on New or Revised Laws and Regulations, YCL, Minimum Branch Key Control Onsite Review, compliance training, and GMS1 MS Library.
  • Keep up to date with regulatory changes and train staff where necessary, including reviewing Compliance and AML/CFT Manual periodically.
  • Work with Senior Vice President Compliance & Enterprise Risk Management to identify and resolve areas of issue or concern to aid the continuous improvement of the Compliance framework.
  • Continuously improve the Compliance process through automation of tasks.
  • Perform other functions and duties as required by superior from time to time.


  • Establishment of a strong and positive Compliance culture and provision of Compliance training to staff and intermediaries.
  • Effective Compliance framework and timely reporting within stipulated requirements and deadlines.

  • Degree holder preferably in Law, or professional qualification in Compliance.
  • Advanced Certification in Regulatory Compliance or the professional or specialised certification related to compliance.
  • Associate member or a higher membership of a professional association.
  • At least 10 years experience in Compliance and working in the insurance industry.
  • At least 5 years working experience as a Compliance Officer, preferably in the financial services industry.

  • Strong background in the operational aspects of the general insurance industry.
  • Sound working knowledge of related laws, regulations, BNM Policy Documents, PIAM Circulars, regional and local Policies, Regulations and Guidelines governing the business.
  • Good understanding of the Companys operations and its Compliance framework.

  • Ability to draft suitable Compliance programs/policies/procedures/manuals to suit the business needs and address regulatory as well as regional requirements.
  • Ability to identify, assess, monitor and report compliance risk.
  • Ability to provide effective training to staff and intermediaries on Compliance subjects.
  • Good interpersonal and people management skills.
  • Effective communication skills, both written and verbal.
  • Well versed in MS applications, especially MS PowerPoint.
  • Proactive and committed to continuous improvements.

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