About Income
JOB DESCRIPTION
Income Insurance Limited (Income) is one of the leading composite insurers in Singapore, offering life, health and general insurance.
Established in 1970 as the only insurance co-operative in Singapore to plug a social need for insurance, Income is now a public non-listed company limited by shares, which continues to serve the protection, savings and investment needs of individuals, families and businesses today.
Its lifestyle-centric and data-driven approach to insurance and financial planning puts Income at the forefront of innovative solutions that empowers better financial well-being for all.
Income also extends true care to Singaporeans through diverse social causes.
About The Department
The Income compliance team is a strategic partner and trusted business advisor to Income. The compliance team holds the responsibility of ensuring that Income adheres to regulatory requirements within the constantly dynamic and evolving regulatory landscape. The compliance team works closely with internal stakeholders and Business Units (BUs) to navigate and assess regulatory risks. This involves developing effective and feasible solutions as well as actively shaping and promoting a strong compliance culture in Income.
About The Role
This role reports to the Regulatory Compliance Section Head. The Regulatory Compliance Section is part of the wider Compliance Department at Income which also includes the Market Conduct Compliance Section and AML Compliance Section. The Compliance Department reports to the Head of Compliance.
The candidate will have the opportunity to work closely with other Business Units (BUs) and stakeholders in relation to various compliance matters.
The candidate will support the Regulatory Liaison and Reporting team in managing interactions with regulatory authorities, coordinating compliance activities, and preparing reports for Senior Management and the Board. This role requires attention to detail, strong organisational skills, and the ability to work collaboratively across business units.
The candidate should be capable of executing the following responsibilities:
Regulatory Liaison Support
- Assist in coordinating communications and responses to regulatory authorities (e.g., MAS).
- Support the scheduling and preparation of meetings with regulators and internal stakeholders.
- Maintain records of regulatory interactions and commitments.
Compliance Monitoring
- Monitor regulatory developments and evaluate their potential impact on the organisation.
- Support dissemination of new or revised regulations and prepare concise summaries for stakeholders.
Reporting
- Prepare and consolidate compliance reports for Senior Management and the Board.
- Track and update regulatory commitments and supervisory expectations for timely reporting.
All Other Responsibilities
- Keep abreast of regulatory developments and industry practices.
- Undertake any tasks or projects assigned by the Manager or Section Head.
Qualifications
- Degree or Diploma in relevant discipline (e.g. business, finance, Law etc.)
- Any relevant professional qualification or certification will be an added advantage.
- 2-4 years of experience in compliance, regulatory affairs, or related functions in the insurance/financial sector.
- Familiarity with MAS regulations and reporting requirements is an advantage.
- Must be proficient in MS Office and its applications.
