Manager, Regulatory Compliance Advisory

Prudential’s purpose is to be partners for every life and protectors for every future. Our purpose encourages everything we do by creating a culture in which diversity is celebrated and inclusion assured, for our people, customers, and partners. We provide a platform for our people to do their best work and make an impact to the business, and we support our people’s career ambitions. We pledge to make Prudential a place where you can Connect, Grow, and Succeed.

JOB SCOPE:
The incumbent is responsible to support in driving the design and implementation of regulatory compliance program specifically covering Agency Distribution, Partnership Distribution, Marketing, and Brand & Communications. This role ensures alignment with applicable local laws, regulations, guidelines and Group Compliance standards.

PRINCIPAL DUTIES & RESPONSIBILITIES:
The below are description of key accountabilities and not meant to be exhaustive. As and when, the job description may change to respond to the development of business operations as well as regulatory changes.
- Provide regulatory compliance support, guidance, and advice to internal stakeholders, distribution channels (bank partner and agency), Marketing and Brands and Communication in relation to regulatory developments, gap analysis and projects, initiatives, process enhancements etc. This also includes
- Establish and enhance Sales Compliance programs, procedures, and checklists for periodic monitoring, including taking appropriate steps to improve the effectiveness;
- Implement sales compliance initiatives roll-out by Group Compliance including development of localised policy and procedures;
- Develop and update the sales compliance training materials, as appropriate;
- Provide advisory support in the assessment and management of compliance-related incidents, ensuring appropriate resolution aligns with regulatory expectations.
- Oversee the ROP appeal process, ensuring proper implementation and governance.
- Monitor and provide oversight of the Welcome Call implementation, including advisory of call lead criteria and FUFT on welcome call observations.
- Serve as a permanent member of both the Bank Governance Meeting and the Agency Governance Meeting, contributing compliance insights and recommendations.
- Review and assess marketing and promotional materials to ensure compliance with applicable laws, regulations, and internal standards.
- Manage and monitor regulatory change management, including coordinate gap analysis, provide advisory and monitor implementation plan. This includes changes to Group Compliance Policy and standards.
- Support the Management on any regulatory compliance issues as they arise.
- Develop or update Regulatory Compliance procedures and checklists, where relevant
- Assist in preparation of Annual Compliance Plan and ensure relevant activities are completed within the timeline
- Assist in preparation of compliance reports to Executive Risk Committee, Board Audit Committee, ExCo, Group Compliance and other relevant stakeholders, where relevant.
- Liaise with Regulators, Group Compliance with regards to regulatory examinations or reviews, where relevant.
- Represent the Department as compliance advisor in initiatives or projects or process enhancements rolled out by the Company.
- Where relevant, conduct Compliance training for Business Functions to improve their understanding on governing regulatory requirements. Update compliance training materials, as appropriate.
- Participate in compliance review or thematic reviews to test the effectiveness of compliance risk controls (in collaboration with the Compliance Assurance team)
- Carry out any other assignments/task as may be assigned by the Head of Compliance from time to time.
- Prepare the quarterly FTFC MI report for the ERC, and subsequently for the BAC.
- Monitor and analyze trends in conduct indicators based on the Group Conduct Risk Metrics, identifying emerging risks and recommending mitigation strategies.
- Prepare and circulate monthly summaries to EXCO on the overall state of PAMB’s conduct risk, highlighting key developments, issues, and action plans.
- Actively participate in the FTFC Working Group at the local level and the Customer Conduct Working Group (CCWG) at the Group level to support alignment of regulatory and group expectation.

JOB SPECIFICATION_ (requirements)_

Qualifications

Degree in Accounting, Finance, Law, Business, or other related discipline.

Experience

At least 5-7 years’ experience in compliance, audit, legal or a regulatory compliance related role; related working experience in insurance or banking would be an advantage.

Requirements
- Strong knowledge of regulatory guidelines governing the insurance industry or banking or other related financial services.
- Good knowledge of insurance or banking or other related financial services operations.
- Strong knowledge and experience in compliance risk management
- Strong communication and interpersonal skills
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