Head of Compliance

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

This position is responsible for leading and managing the Compliance Department, serving as a second line of defence in collaboration with the business units (as first line of defence) to ensure relevant regulatory and market conduct risks are effectively identified, mitigated and controlled.

The role is pivotal in fostering a strong culture of ethics and compliance across the Company.

This position works closely with the members of the Executive Committee, providing regular updates on compliance/ethics initiatives and advising both the Executive Committee and Board Risk Management Committee on compliance-related matters. In addition, as the Head of Compliance, the incumbent is empowered to implement all necessary measures to ensure effectiveness of the Company's compliance program that is aligned to the strategic direction of AIA Group Compliance.

Roles and Responsibilities:

• Responsible for the overall design, implementation and ongoing enhancement of the Company's Compliance Program, focus on regulatory, financial crime, investment and market conduct compliance, which aligns with business objectives, AIA Group Operating Principles and Group Compliance's strategic direction.

• Oversee the compliance risk assessment framework of the Company and engage with key stakeholders to:

• Collaborate with the Executive Committee to identify and manage key regulatory and ethical risks (including emerging risks) and ensure optimal allocation of Compliance resources.

• Collaborate Enterprise Risk Management and Internal Audit functions to strengthen the risk control framework and provide practical solutions-oriented compliance advice.

• Responsible for the development, maintenance and implementation of relevant Compliance policies and procedures that support the Company's compliance values and management of regulatory obligations and risks.

Implementation of Culture of Compliance and Ethics Program

• Design and implement effective compliance awareness program to promote ethical conduct and accountability at all levels through ongoing communication and training within the Company.

Reporting and Monitoring (as second line of defence)

• Ensure timely and accurate reporting and/or escalation of compliance related matters in accordance with relevant reporting and escalation protocols, including regular reporting to Executive Committee and Board Risk Management Committee.
• Oversee compliance reviews across business units, and ensure effective implementation of remedial actions for identified non- compliance issues.

Board Risk Management Committee – Invitee

• Provide advice and update to the Board on the developments of the regulatory requirements, including assessments of its implication on the Company's risk profile and capacity to manage compliance risk going forward.
• Update the Board on the compliance risk profile of the Company, including summary of incidents of non-compliance and deficiencies and its impact (both financial and non-financial), recommendations and status of corrective actions taken, progress of the compliance programme activities and observations regarding the compliance culture in the Company

Staff Development

• Lead, coach, and develop the Compliance team to build strong compliance leadership and capabilities within the Company.

Minimum Job Requirements:

• Bachelor's degree holder or, ideally, above, in appropriate field (e.g. Accounting, Economics, Risk Management, Business Management or Law) with 15 to 20 years solid work experience in the financial industry handling compliance and/or controls, and at least 5 years in a senior role.
• In-depth understanding of the Insurance business preferred and, in lieu of insurance, financial services.
• Excellent command of English and Malaysian Bahasa, both written and oral.
• Good interpersonal skills.
• Independent and able to work under pressure.
• Must be organized, detail-oriented and analytical.
• Must possess strong leadership, coaching and influencing skills; strong business acumen; effective change management skills; problem solving and decision making skills.
• With high level of integrity and takes ownership and accountability of results.