Assistant Manager, Regulatory Compliance

About the Job

To ensure effective management of Compliance (GETB) function which act as a 2nd line of defence in the GE Group. Provide advice and technical support to GETB staff and management particularly in relation Enterprise Governance Risk and Compliance (eGRC) system as well as to monitor and ensure the business operates within the internal and external rules and regulations.

Key responsibilities:

• Update and maintain Compliance Matrix and monitor the effective execution of Compliance Requirements Self-Assessment (CRSA) on various departments within GETB.
• Identify and assess the compliance risks associated with eGRC system requirements, handling migration of guidelines and CRSA.
• Formulate/revise the compliance policies and compliance framework in relation to eGRC system.
• Assess that internal policies, procedures and guidelines reflect regulatory requirements and ensure follow-up of any identified deficiencies, make recommendations to GETB management for any deficiency noted and follow up on the implementation of corrective measures
• Maintain vigilance over developments in the local regulatory environment so as to keep GETB management up to date as well as to proactively manage the potential regulatory risk exposure of GETB.
• Monitor compliance with internal policies, procedures and guidelines on a risk-based basis by performing regular and comprehensive compliance related risk assessments and testing, identify gaps and prepare compliance review report to GETB management.
• Maintain an inventory of all essential laws and regulation pertinent to GETB and maintain/centralize all information on compliance-related issues (e.g. breaches of regulations, follow-up on compliance related matters) in the eGRC system.
• Conduct briefing/training (as and when necessary and directed) in relation to eGRC system.
• Undertake ad-hoc projects related to the eGRC system as assigned by Head of Department and any relevant parties.
• Provide guidance, development programme and training to Department Compliance Officers (DCOs) on the eGRC system.
• Liaise with auditors, insurance and financial regulatory authorities on system related matters.
• Provide relevant advice on system related issues to GETB and ensure alignment of regulatory compliance framework.
• Assist in providing guidance, development programme and training to Department Compliance Officers (DCOs). Develop criterias for independent assessment and monitor DCOs performance.
• Provide compliance advisory to GETB management & staff on the applicable laws, regulation, rules and standards and the implementation of these provisions.
• Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks.
• Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company.
• Highlights any potential concerns /risks and proactively shares best risk management practices.
• Takes accountability in considering business and regulatory compliance risks and takes appropriate steps to mitigate the risks.
• Maintains awareness of industry trends on regulatory compliance, emerging threats and technologies in order to understand the risk and better safeguard the company.
• Highlights any potential concerns /risks and proactively shares best risk management practices.

We are looking for people who

• Tertiary or professional qualification in Accountancy / Law /Insurance (FLMI, FMII etc) or any relevant qualification with working experience in handling Compliance matters.
• Experience in handling Compliance related system/platform would be an added advantage.
• At least 3 -5 years in Compliance/Internal audit /Legal/ Insurance or Banking industry
• Key skills: good written & communication skills, analytical & details oriented, good management & leadership skills, excellent interpersonal skills & able to interact with senior management.
• Key Knowledge: insurance law & related regulation, system knowledge & understanding, agency & contract law, policy terms & conditions, product knowledge & features, cross functional knowledge, quality assurance best practices, good comprehension of compliance guidelines.
• High level of integrity, takes accountability of work and good attitude over teamwork.
• Takes initiative to improve current state of things and adaptable to embrace new changes.