- Implement various Group policies and guidelines at local level and provide ongoing advisory advice in order to mitigate risks and ensure compliance with Group directives and local regulations.
- Prepare periodic reports and escalate key issues as per reporting protocol in a timely and accurate manner, in order to support decision making by local management and Group Office. Ensures follow-up on remediation actions so as to ensure prompt closure of outstanding issues.
Monitoring of Regulatory Reporting Obligations
- Monitor the Company's mandatory regulatory reporting obligations by sending periodic reminders and perform follow-ups with the relevant department to ensure compliance with all mandatory reporting and communications within the stipulated timelines.
- Perform timely escalation of issues or potential delays to management in order to prevent any breach which may result in regulatory or financial penalty.
Foreign Account Tax Compliance Act (FATCA)
- Provide oversight, guidance and ongoing advisory to key BUs ensure compliance with FATCA requirements and obligations (e.g. onboarding, ongoing due diligence checks etc.).
- Assist in preparation of annual FATCA reporting to IRAS, ensure timely monthly reporting and escalation of FATCA breaches to Group Compliance.
- Provide FATCA training to key stakeholders and FSCs as required.
- Monitor compliance with Group FATCA Compliance Manual including testing the adequacy and effectiveness of key FATCA requirements.
- Provide oversight, guidance and ongoing advisory to ensure compliance with the Personal Data Protection Act (PDPA) requirements and obligations.
- Provide PDPA training.
- Monitor compliance with PDPA requirements and conduct review of processes/controls and testing where required.
- Maintain oversight on DNC/PDPA breaches and remediation.
Training to New Staff and FSCs
- Develop slides and training programs ready for delivery
Provide ongoing compliance advisory and support to key business units (BUs)
- Engage key BUs proactively, understand their business model/operations and create/raise awareness and understanding of regulatory/ industry requirements and company's policies.
- Customize training tailored to BUs' needs/areas of concern.
- Advise on regulatory and industry requirements and recommend solutions to support BUs' business requirements and initiatives.
- Foster effective working relationship with BUs, through proactive engagement and support program to enable the growth of business in the right way.
Projects & Tasks
- Develop and deliver the required presentation materials promptly to ensure that presentations/trainings are delivered on schedule to the relevant stakeholders.
- Coach and mentor fellow colleagues via on-the-job training in order to develop and nurture new/ junior colleagues, increase their competencies and improve overall team performance.
- Bachelor's Degree, preferably in business management, Insurance, Economics or Accountancy.
- 5 to 7 years of working experience in financial industry, preferably in the insurance industry doing compliance-related work.
- Leadership experience preferred
- Insurance qualifications e.g. CMFAS M5, M8, M9, M9A, Health Insurance.
- Compliance-related certifications preferred e.g. Diploma in Compliance, Associate of ACI etc.
- Sound knowledge of the insurance industry, particularly in the area of regulatory/industry requirements e.g. Financial Advisers Act, MAS notices, LIA Guidelines.
- Excellent team player
We are advertising this role on behalf of our client. Please contact Simon Ackland on +65 3157 1212 or email email@example.com.
EA Reg No.: R1652848 Agency Licence No.: 16S8105
EA Registration Number: R1652848
Argyll Scott Singapore Pte Ltd. EA Licence Number: 16S8105