Operations & Outsourcing Governance, Specialist

3 weeks ago


Kuala Lumpur, Malaysia AIA Full time

At AIA we’ve started an exciting movement to create a healthier, more sustainable future for everyone.
- It’s about finding new ways to not only better people's lives, but to better the communities and environments we live in. Encompassing our ambition of helping a billion people live Healthier, Longer, Better Lives by 2030._
- And to get there, we need ambitious people who believe in playing an important part in shaping that future. People seeking unmatched career and personal growth opportunities, who are driven to work with, and learn from some of the most inspiring and supportive leaders in the business._

Sound like you? Then read on.

About the Role

The key responsibility of this role is on general insurance (GI) operations governance that covers regulatory and compliance management in ensuring adherence to the regulatory requirements. Being in the Technology and Operations department, this individual will contribute to the operationalization of operations excellence initiatives in crafting a compelling user experience for our agents and customers within the boundary of the governance framework and culture.

1. General Insurance (GI) Operations Governance and Regulatory/ Compliance Management
- Develop, implement and maintain a cohesive operations governance framework for the GI business to ensure compliance to internal policies/ standards and regulatory requirements such as ‘Anti-Money Laundering (AML)/ Countering Financing of Terrorism (CFT)/ Countering Proliferation Financing (CPF) and Targeted Financial Sanctions (TFS) for Financial Institutions (FIs)’, ‘Phased Liberalisation of Motor and Fire Tariffs’, ‘PDPA’, ‘Claims Settlement Practices’, etc.
- Conduct analysis to identify gaps according to the regulatory policies and coordinate the execution of the action plans in closing the gaps followed by effective continuous monitoring.
- Collaborate with risk, compliance and the relevant outsourced governance teams to maintain adequate and effective first line of defense for governance and compliance programs.
- Stay informed about evolving regulatory requirements, emerging trends, technologies, and best practices in GI operations governance and drive continuous improvement initiatives accordingly.

2. Operations and Outsourcing Support
- Support the operations and outsourcing activities including managing regular service level review meetings, reports generation and participate in quality assurance exercise in ensuring satisfactory delivery by outsource parties.
- Communicate material changes to internal policies/ standards and regulatory requirements to stakeholders.
- Facilitate risk evaluations and exception handling to deviations from the policies, standards and regulatory requirements.
- Work with stakeholders from the outsourced functions to support the outsourcing governance requirements including generation of documentations & regular reports, identifying internal control gaps and initiate remediation plans.

3. Projects/ Initiatives Management and Continuous Operations Process Improvement
- Lead all aspects of the implementation of assigned projects/ initiatives in ensuring delivery according to the agreed scope & timeline.
- Track and supervise key project metrics with regular status report update.
- Manage incident escalation and dispute resolution to ensure control deviations are identified and mitigated according to the agreed service level.
- Identify opportunities for process improvements to achieve better operations efficiency and improve customer experience.

4. Other Responsibilities
- Performs other responsibilities and duties periodically assigned by supervisor to meet operational and/or other requirements.
- Understands the direction of the business units, identifies opportunities and makes recommendations to support the assigned functional units’ desired future state.
- Maintains awareness of changes on organization strategy, goals and processes at business units and service providers.
- Develop clear and concise communications with respect to issues, problems, and change management as needed.
- Demonstrate effective communication with colleagues and service partners including producing reports, writing minutes of meetings, preparing, organising and delivering presentations using appropriate tools and techniques.

Job Requirements:

- Tertiary education from a recognized university.
- At least 5 years of working experience in compliance/ governance related role.
- Prior experience in the General Insurance industry will be helpful.
- Familiar with the relevant regulatory requirements such as ‘AML/CFT/CPF and TFS for Fis’, ‘Phased Liberalisation of Motor and Fire Tariffs’, ‘Claims Settlement Practices’, etc.
- Good interpersonal, communication skills and self-motivated.
- Good written and spoken communication skills in English.
- Able to work in tight timeline with mínimal supervision.
- Be organized, meticulous and analytical.
- High level of int


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