Regulatory Compliance Assistant Manager Job Vacancy in Singapore Life Ltd. Singapore – Updated today

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Full Details :
Company Name : Singapore Life Ltd.
Location : Singapore
Position :

Job Description : 4 Shenton Way, SGX Center 2 , Singapore, Singapore, Singapore

Department
Regulatory Compliance
Job posted on
Jan 24, 2022
Employment type
Permanent – Full Time
Experience range
4 years – 8 years
Singlife with Aviva is a leading homegrown financial services company, offering consumers a better way to financial freedom. Through innovative, technology-enabled solutions and a wide range of products and services, Singlife with Aviva provides consumers control over their financial wellbeing at every stage of their lives. In addition to a comprehensive suite of insurance plans, employee benefits, partnerships with Financial Advisor channels and bancassurance, Singlife with Aviva offers investment solutions through its dollarDEX and Navigator platforms. The mobile-first Singlife Account – with a Singlife Debit Card – allows customers to save, spend, earn and be insured all in one app. Singlife with Aviva was formed by the merger of Aviva Singapore and Singlife. First announced in September 2020 and valued at S$3.2 billion, it was the largest insurance deal in Singapore at the time and created one of the largest homegrown financial services companies in the republic.
The purpose of the role is to provide key support to the regulatory compliance lead for the sales surveillance compliance function across all companies in the group. This involves developing and implementing the group-wide sales surveillance framework, including policies and standards in a fit-for-purpose manner commensurate with the size, nature and complexity of each core and subsidiary business entity. The framework, policies and minimum control standards ensure the business is conducted in an ethical, professional and fair manner to deliver good outcomes for our customers, and promote a strong compliance culture in the organization.
Regulatory Compliance
Provide timely and accurate compliance advisory as part of the central regulatory team to internal stakeholders on new regulatory developments/updates, including building a strong compliance culture and conduct in the organisation.
Handle the company wide Regulatory Compliance registers (MAS, FAA, SFA, CPF, LIA Guidelines, Insurance Act related regulations etc.).
Conduct risk assessment and gap analysis on key regulatory compliance risks, new regulatory initiatives and requirements.
Engage stakeholders and facilitate the implementation of process and controls to mitigate regulatory and compliance risks, across the end-to-end Sales Advisory process.
Deliver the standards of services expected by internal customers in terms of the quality, appropriateness and timeliness of regulatory compliance support provided by the compliance team.
Perform other responsibilities and duties periodically assigned by supervisor to meet operational and/or other requirements.
Regulatory Liaison
Support the Regulatory Compliance Lead and Compliance Director on internal processes on liaising with the regulators and as required, with industry associations. E.g. MAS, CPFB, LIA, etc. and ensure that their requests and queries are promptly seen to.
Provide support to the Regulatory Compliance Lead and Compliance Director to provide adequate challenge to the Business on responses to Regulators to ensure the Company’s responses are accurate, consistent and of good quality.
Assist in organizing engagement sessions with MAS and other stakeholders when required.
Assist to support the Regulatory Compliance Lead and Compliance Director to oversee and organize MAS Inspections on Company operations and ensure they are well-coordinated. Issues are promptly escalated to key Management where appropriate.
Assist to manage relevant risks and issues that impact on a Companywide level, ensure appropriate mitigating measures are in place.
Required capabilities
Individual should be an experienced executive with relevant experience typically gained within financial institutions
Coverage of job experience should include sales surveillance compliance framework, disciplinary and conduct framework, financial and insurance products, regulatory and conduct risk, and financial crime.
Good knowledge of Insurance, Financial Adviser and Capital Market regulations in Singapore, applicable to the insurance/financial industry such as Insurance Act, Financial Advisers Act (FAA) and its subsidiary regulations, Monetary Authority of Singapore (MAS) regulations, Central Provident Fund (CPF) Board regulations, Life Insurance Association (LIA) guidelines.
Knowledge and experience in the Payment Services Act and its subsidiary regulations will be useful.
Work well in a group team setting and good communication skills.Group function experience.

Relevant degree or professional qualifications.
At least 4-8 years’ experience in the financial services industry covering related areas including but not limited to regulatory compliance, in particular in emerging regulatory compliance areas – market conduct, compliance, financial crime, internal controls, audit etc.
Complete Fit & Proper assessments successfully on an annual basis at minimum, or when other adjunct appointments are made.
If you have what it takes, please do not hesitate to click apply!

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