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Senior Compliance Officer

Great Eastern Life Assurance Co Ltd
Singapore, Singapore
Closing date
Jun 22, 2024

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Job Function
Industry Sector
Finance - General
Employment Type
Full Time
Job Purpose

You will assist the following:
• Ensure successful completion of assigned assessment / investigation cases, from start to finish, inclusive of preplanning and wrap up activities;
• Ensure the fulfilment of the Fitness & Propriety criteria for New Applicants and existing Financial Representatives' of the Company
• Ensure Financial Representatives are in compliance with the Company's guidelines, circulars, notices and/or directives as well as laws including but not limited to regulations, guidelines or notices etc. issued by the Monetary Authority of Singapore or the Life Insurance Association of Singapore;
• Apply risk and control concepts to scenarios encountered in assessments and/or investigations and identifies any potential issues; and
• Report identified issues to Supervisor to ensure any potential concerns are addressed timely and effectively, and the appropriate enforcement actions are meted out to Financial Representatives.

The Job

Fitness & Propriety
• Assess on the Fitness & Propriety status of New Applicants and existing Financial Representatives and proceed with the necessary course of action;
• Obtain and review evidence ensuring that the assessments are well-documented;
• Monitoring of Financial Representatives issued with Directives;
• Review of the Annual Declaration Exercise and preparation of the management report;
• Perform checks on Fitness & Propriety records and other related issues for business units;
• Ensure that Financial Representatives' outside business / concurrent engagement(s) are of no conflict to the role as a Financial Representative of the Company;
• Reporting statistics and relevant information; and
• Any other ad hoc duties / projects in this scope.

• Conduct assigned investigations on cases relating to the Fitness & Propriety status of the Financial Representatives from beginning to end;
• Ensures investigation conclusions are based on a complete understanding of the issues, circumstances and risk;
• Obtain and review evidence to ensure that investigation conclusions are well-documented;
• Identify and communicate issues raised, offering recommended solutions relevant to business and risk;
• Mete out disciplinary actions as warranted based on investigation findings;
• Any other ad hoc duties / projects in this scope.

• Provide trainings and updates to the agency force on Fitness & Propriety / Market Misconduct and/or Risk & Compliance matters;
• Conduct scheduled / ad-hoc Compliance reviews / examinations on business units to ensure adherence to the Company's prescribed process;
• Conduct scheduled / ad-hoc inspection into Financial Representatives and their Agency and preparation of inspection findings report; and
• 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.

Our Requirements

• Degree holder in any discipline, preferably with relevant work experience;
• Prior experience in an Audit function or Compliance Department
• Good knowledge of MAS and FAA rules and regulations;
• Proficient in MS office applications;
• Ability to multi-task and prioritise whilst maintaining standards and accuracy in deliverables;
• Strong analytical skills, meticulous, self-motivated and a good problem-solver;
• Good interpersonal, communication and organisational ability;
• Proficient in report writing and presentation skills; and
• Team player.
• 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.

About Great Eastern
Established in 1908, Great Eastern places customers at the heart of everything we do. Our legacy extends beyond our products and services to our culture, which is defined by our core values and how we work. As champions of Integrity, Initiative and Involvement, our core values act as a compass, guiding and inspiring us to embrace the behaviours associated with each value, upholding our promise to our customers - to continue doing our best for them in a sustainable manner.

We work collaboratively with our stakeholders to look for candidates who exhibit or have the potential to embrace our core values and associated behaviours, as these are the key traits that we expect from our employees as they develop their careers with us.

We embrace inclusivity, giving all employees an equal opportunity to shine and play their role in exploring possibilities to deliver innovative insurance solutions.

Since 2018, Great Eastern has been a signatory to the United Nations (UN) Principles of Sustainable Insurance. Our sustainability approach around environmental, social, and governance (ESG) considerations play a key role in every business decision we make. We are committed to being a sustainability-driven company to achieve a low-carbon economy by managing the environmental footprint of our operations and incorporating ESG considerations in our investment portfolios; improving people's lives by actively helping customers live healthier, better and longer; and drive responsible business practices through material ESG risk management.

To all recruitment agencies : Great Eastern does not accept unsolicited agency resumes. Please do not forward resumes to our email or our employees. We will not be responsible for any fees related to unsolicited resumes.

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