Shariah Compliance, Consultant

4 months ago

Kuala Lumpur, Malaysia AIA Full time

FIND YOUR 'BETTER' AT AIA
- We don’t simply believe in being ‘The Best’. We believe in better - because there’s no limit to how far ‘better’ can take us._
- We believe in empowering every one of our people to find their 'better' - in the work they do, the career they build, the life they live and the difference they make. So that together we can support even more people - including our own - to live Healthier, Longer, Better Lives._

If you believe in better, we’d love to hear from you.

About the Role

Providing assurance that the regulatory requirements and company policies have been effectively implemented.

Roles & Responsibilities:
1. Regulatory Compliance and Code of Conduct
- Representing the Company in local regulatory matters projects and initiatives by fulfilling the respective compliance to all applicable regulatory requirements.
- implement applicable compliance policies/protocols, risk assessment process and relevant back-end procedures to comply with applicable policies and regulatory requirements.
- Ensure quality, accuracy and appropriateness of any regulatory compliance submissions to local regulatory authorities.
- Co-ordinates to ensuring e-learning programmes and code of conduct annual certifications are properly completed by all employee.
- Conduct gap analysis to ensure compliance with relevant guidelines including those issued by BNM and MTA.
- Update and maintain regulatory database which consists of all local regulatory requirement.
- Proactively engage with business and provide advise/guidance to mitigate key compliance risks. Strengthen and increase awareness of regulatory developments and ethics / compliance risks.

2. Sales Compliance

Support senior manager to have effective engagement with key business stakeholders in providing compliance advise and solutions to manage compliance and regulatory risks for quality business growth. These include the completion of the following activities:

- Participation to engage agency, partnership distribution and corporate solutions to ensure effective implementation of Business Quality initiatives for Takaful business.
- Review related policies and procedures to ensure adherence of Treating Customers Fairly (TCF) principles. This includes assistance in providing guidance to business to assist in embedding TCF principles in product development cycle, operations and customer services and communications at all stages of the business life cycle.
- Assist to provide guidance and quality assurance to business in setting and implementing KRI and predictive modeling. This is to ensure timely identification of root causes, tracking and closure of market conduct incidents.
- Monitor to ensure the enforcement of zero tolerance towards fraud and misconduct incidents via adequate training and proper sales practices.
- Products and campaigns review and assessment.

3. Shariah Compliance
- Support in conducting Shariah Review activities as per Shariah Review Plan.
- Assist in reviewing incidents and complaints to determine the existence of Shariah Non-Compliance (SNC) elements.

4. Compliance Reporting
- Prepare and submit reports to Group Compliance and other related internal reports such as MRMC and Senior Management.
- Prepare a Compliance Updates on quarterly basis to the Board Risk Management Committee (RMC) and Shariah Committee.

5. Combined Assurance
- Assists in conducting compliance reviews on business units, investments and third parties.
- Undertakes monitoring and follows up on agreed actions and any non-compliance issues.

7. Other regulatory and corporate requirements
- Assist Head of Compliance or take charge in the other regulatory areas including providing the relevant support for Investment Compliance, AML/CTF & Economic Sanctions Compliance and FATCA Programs.
- Performs other responsibilities and duties periodically assigned by line manager in order to meet operational and/or other requirements.
- Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives._

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