Risk and Compliance Analyst

3 days ago


Kuala Lumpur, Kuala Lumpur, Malaysia Munich Re Full time
Risk and Compliance Analyst

Munich Re Retakaful, part of Munich Re, the world's largest reinsurer, is looking for a Risk and Compliance Analyst who can help us continue forging ahead in the global Family Retakaful market.

You will be responsible for providing an effective key second line of defence role for Munich Re Retakaful operations both from a Bank Negara Malaysia (BNM) regulatory perspective but also in relation to Munich Re's internal corporate governance, risk management and compliance standards.

You will report to the Chief Risk and Compliance Officer, Munich Re Retakaful and will be based in Kuala Lumpur.

Your Job
  • Support the Chief Risk and Compliance Officer in matters relating to the needs of business function, the second line function as well as management of stakeholders;
  • Implement the Munich Re Group Risk Management Framework and the Munich Re Group Compliance Management System requirements at Munich Re Retakaful;
  • Develop, review and/or enhance the Shariah Risk and Compliance Management related guidelines, procedures, policy and framework. This includes ensuring timeliness and accuracy in highlighting issues on Shariah Risk matters as well as providing advisory support to business/support functions on matters relating to Shariah Risk;
  • In terms of Risk Management function, it means identification, assessment, monitoring and reporting of key exposures and risks, and the management of these key risks. Ensure an understanding of key risks and exposures at Munich Re Retakaful, management and facilitate responsible and effective risk-taking in line with risk appetite and limits. Monitor emerging risks from changes in political and economic conditions, laws, and regulations;
  • Oversee/manage information security risk and controls at Munich Re Retakaful;
  • Fulfilling BNM risk management requirements including the Internal Capital Adequacy Assessment Process, ORION reporting, to name a few;
  • For the Compliance function, it entails creating a compliance culture & compliance training, monitoring of legal changes, performing compliance risk management, carrying out compliance monitoring & reporting, providing advisory to the business and maintaining work documentation. Responsible for investigations into incidents of violation of law and internal policies;
  • Manage/maintain/implement risk management and compliance policies & programmes, including programmes related to credit management, cyber security, anti-money laundering & counter financing of terrorism, data protection, outsourcing, business continuity, and anti-corruption, to name a few;
  • Coordinating requests and responses to and from regulators.
Your Profile
  • Min 2 years of relevant work experience
  • Graduate with compliance/risk management/actuarial/insurance qualifications e.g. ICA, CMIRM, FIFA, FSA, LOMA, AMII, FLMI, BRM, or equivalent;
  • Certificate in Muamalat / Islamic Finance or any other Shariah-related qualification (e.g., by IBFIM or IIUM) would be a strong advantage;
  • Knowledge of Takaful business model is advantageous;
  • Possess fundamental Shariah Knowledge / Shariah principles;
  • Proficient in Microsoft Word, Excel, and PowerPoint (essential);
  • Fluent in spoken and written English, including the ability to articulate and sound writing and presentation skills;
  • Behaviors - curiosity, adaptability, willingness to perform independent research, ability to formulate/articulate/maintain an unpopular viewpoint where supported by the facts, able to exercise independent judgment but recognize and be transparent about such exercises of judgment;

At Munich Re, we embrace, and value, the interaction of diverse backgrounds, experiences, perspectives, and thought. This interaction is our foundation of our open culture and spirit of partnership. Of how our teams are built and cultivated. Of how we are supported and developed. And at the centre of this interaction is each of us.

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