Assistant Director, Regulatory, Assurance & Market Conduct
At Prudential, we understand that success comes from the talent and commitment of our people. Together, we have a shared vision in securing the future of our customers and our communities. We strive to build a business that you can shape, an inclusive workplace where everyone's ideas are valued and a culture where we can thrive together. Our people stay connected and tuned in to what's happening around us, keeping us ahead of the curve. While focused on the long-term, we look to the future to bring growth, development and benefit to everyone whose lives we touch.
To design, implement compliance programmes, policies and procedures and provide proper guidance and advice to ensure that the Business Functions and members of the sales force conduct their business operations ethically and in accordance with applicable local laws, regulations, guidelines and regional compliance standards PRINCIPAL DUTIES & RESPONSIBILITIES:
(key accountabilities) Regulatory Compliance
- Manage regulatory changes, including coordinate gap analysis, with the relevant Business Functions and track action plans to closure.
- Support the Management and business functions on any regulatory compliance issues as they arise; providing the required advice and guidance.
- Assist in preparing the Annual Compliance Plan.
- Assist in preparing compliance reports to Audit Committee, ExCo, PCA Compliance, and other relevant stakeholders, including highlighting any material non-compliance issues.
- Coordinate regulatory examinations or reviews by the Regulators or PCA Compliance.
- Represent the Department as compliance advisor in major initiatives or projects of the Company.
- Conduct compliance training to the relevant Business Functions to improve their understanding on governing regulatory requirements.
- Carry out any other assignments as may be assigned from time to time.
- Review of product related materials, advertisements and other product communication materials.
- Attend product implementation meetings.
- Provide sales compliance support, regulatory guidance and advice to Distribution Channels with regards to their business operations on sales processes.
- Develop/update key compliance risk indicators (KCRIs) for sales monitoring together with analysis of the KCRIs.
- Establish and enhance Sales Compliance programmes, procedures and checklists for periodic monitoring, including taking appropriate steps to improve the effectiveness.
- Lead the execution of post-sales monitoring programmes such as mystery shopping or agency office visit.
- Implement sales compliance initiatives roll-out by PCA Compliance including development of localised policy and procedures.
- Conduct sales compliance training to the relevant Business Functions or Agency Force to improve their understanding on sales compliance requirements. Develop and update the sales training materials, as appropriate.
People Development and Training
- Conduct compliance review in accordance with the Annual Compliance Plan.
- Follow-up on issues identified in compliance review to closure; ensuring the appropriate corrective actions are implemented within agreed timeline. Verify the corrective actions for adequacy and appropriateness prior to closure.
- Conduct ad-hoc reviews as may be assigned from time to time.
- Develop team members to improve their job competency, managerial and communication skills.
- Assess the resources under his/her responsibilities to ascertain it is sufficiently resourced to support the activities.
- Degree in Finance/Accounting/Business Administration or other related discipline.
- At least 10 years related working experience; working knowledge in the area of Compliance, Auditing or Legal function would be an advantage.
- Good command of English and Bahasa Malaysia.
- Knowledge of insurance, banking, asset management or other related financial services operations.
- Good understanding of compliance principles and best ethical practices.
- Good understanding of regulatory guidelines governing the insurance industry or other related financial services.