Compliance Manager

Job Purpose

To facilitate and monitor activities and operation of entities in Singapore, ensuring that the entities conduct business in compliance with local legislation and regulations that relate to the entity's operation, as well as professional standards and internal requirements from the Lockton Group to deliver good organizational outcomes.

Key Tasks & Duties and Measurements

• Provide information to local management, keeping them aware of the state of various controls of the company, matching the state of control with the company's risk appetite
• Collaborate with business teams with respect to development and improvement of process workflows
• Understanding regulations (include E&O issues) that affect the business and communicate regulatory requirements to management and associates
• Devise and/or implement policies and procedures required by external requirements and Group, include conduct of compliance trainings
• Monitor license/ registration application & renewal, regular regulatory submissions/ reports/returns to regulators/ government authorities, manage relationship with regulators
• Monitor changes to laws and regulations, communicate changes and its impact to the team, management and associates (including training), devise new or update existing policies and procedures to coup with the changes
• Compliance reviews/Health checks on business operations to identify gaps that need to be addressed.
• Controls and assurance activities (File Review, AML, Sanctions controls, client on boarding, Market Security, financial crimes prevention etc.).
• Contribute to risk management assessments and controls within the entity.
• Other ad hoc matters (internal investigation etc.)

Qualification and Experience

• Holds a Bachelor's degree or higher in business management or a related discipline
• Minimum of 4-5 years of demonstrated experience in compliance and operations within the insurance sector
• Proven track record of working with individual/private clientele
• Background in Life insurance products and Anti-Money Laundering (AML) procedures

Competencies

• Thorough knowledge of regulatory framework and compliance issues concerning the broking process (including E&O)
• Solid understanding of Lockton standards, policies and procedures
• Ability to meet business demands and needs within the risk and compliance framework
• Critical thinking and strong attention to details
• Ability to communicate effectively and professionally both verbally and in writing with management and associates
• Commitment to continued learning, remaining well-informed regarding external and internal standards and business goals. Ability to keep up with changes that are relevant to operation of the business
• Ability to manage time, prioritize and ensure that deadlines are met without compromising quality