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Assistant Manager, Licensing Unit

Employer
Affin Bank
Location
Kuala Lumpur, Malaysia
Salary
Competitive
Closing date
Jul 18, 2024

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Job Function
Accounting/Audit/Tax
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
Create the future with Affin! You too can make a difference.

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Job responsibilities:

Licensing

  • Provide advisory support to CMSRL applicants, holders, Branch Responsible Persons (BRPs), Business Units, and Internal Auditors on licensing-related inquiries.

Administer Continuing Professional Education (CPE) training for all CMSRL Holders

  • Monitor each license holder's CPE points using the Licensing Masterlist and Training Masterlist to ensure accuracy and prevent deficiencies in CPE requirements.
  • Ensure all CMSRL holders obtain a minimum of 20 CPE points before their license anniversary date and comply with regulatory requirements to continue carrying out the relevant regulated activity.
  • Facilitate the training registration process for CMSRL holders by coordinating with external training providers and the Learning and Development to ensure timely and relevant training that meets regulatory CPE requirements.

Administer the renewal process of CMSRL for all licensed holders

  • Prepare and manage the renewal process for all CMSRL holders in a timely manner and in an efficient way before the license anniversary date.
  • Responsible to ensure licensed representative have complied with:
  • minimum CPE points requirement
  • have not been declared bankrupt or entered into a composition of arrangement with

creditors
  • remain fit and proper at all times as required under Section 65 of the CMSA
  • Perform bankruptcy (insolvency) checks for all licensed representatives before renewal month.
  • Timely and accurate administration of the renewal process for all CMSRL holders.

Reporting - Internal Management Reporting

  • Submit the Remisier Expenses Report to the Finance Department monthly by the third week of the month, specifically by the 22nd of each month.
  • Submit the Management Quota Report and Futures Report to the Compliance Department monthly by the first week of every month.
  • Ensure all reports are submitted in accordance with stakeholders' deadline requirements.
  • Prepare and submit ad-hoc reports as requested by Business Units as needed.

Reporting - Regulatory Reporting

  • Submit the Marketing Representative Report to the SC via the SC's Com Rep platform monthly, no later than 5 working days after the end of the month.
  • Submit the Fit & Proper report (Form 6A) to the SC via the SC's EASy system, no later than 7 working days after the end of the month.
  • Submit the yearly Company License Renewal Details (Form 4) to the SC via the SC's Easy system.
  • Ensure compliance with submission deadlines to avoid any penalties imposed by regulators.
  • Prepare and submit ad-hoc reports as requested by authorities, including the SC, Bursa, Bank Negara Malaysia (BNM), and any other authorities.

Other Responsibilities
  • Administer the management of Marketing Representative (MR) including conducting screenings upon receiving applications from the Business Unit/Branch, maintaining a register or log of all MRs, renewal process, and reporting to SC monthly.
  • Administer the management of Costed Back staff, including the renewal of their service contract and termination processes.
  • Conduct CTOS checks on Corporate Directorship every 3 months, and additionally as required by internal policies or regulatory obligations.
  • Assist Business Units in applying for CPE points accreditation from the Securities Industry Development Corporation (SIDC) for organized conferences or events.
  • Administer and monitor all expenses related to licensing matters, including Bursa registration fees, training expenditures, and other related costs, ensuring accurate and timely payments.
  • Oversees the renewal of Group Hospitalisation & Surgical policy for participating remisiers and Costed Back staff, managing the payment and claim reimbursement processes efficiently.
  • Respond to internal audit requests by providing the required CMSRL listing and any other required reports during audits.
  • Assist with the renewal of the Capital Market Services License (CMSL) and the variation of particulars including changes in business address, directorship, shareholders, and regulated activities.
  • Performs submissions related to Key Management and Compliance Officers to the SC via the EASy system.
  • Undertake any additional tasks or ad-hoc responsibilities as instructed by the Superior as needed.

Job requirements:
  • A bachelor's degree and/or professional qualification in a related field is generally required.
  • At least 2-5 years of experience in licensing or a related field within the financial services industry.
  • Experience working in a bank, investment firm, or regulatory body is highly desirable.

Skills
  • Analytical Skills: Ability to analyze complex regulatory requirements and licensing processes.
  • Communication Skills: Effective written and verbal communication skills for liaising with internal stakeholders, regulatory bodies, and license holders.
  • Attention to Detail: Strong attention to detail to ensure accuracy in licensing documentation and compliance monitoring.
  • Organization: Excellent organizational skills to manage multiple tasks, deadlines, and priorities effectively.
  • Computer Literacy: Proficiency in using relevant software applications for data management, reporting, and regulatory submissions.
  • Negotiation: Ability to negotiate and resolve conflicts related to licensing matters effectively.
  • Administrative: Strong administrative skills, including maintaining accurate records, managing documentation, and handling confidential information.

Knowledge
  • Regulatory Compliance: Understanding of relevant laws, regulations, and guidelines governing licensing activities in the financial industry, including securities regulations and capital markets laws
  • Data Management: Knowledge of data management principles and practices for maintaining accurate records of license holders and regulatory submissions.

Personal Characteristics & Behavior
  • Adaptability: Ability to adapt to changing regulatory requirements and organizational priorities.
  • Professionalism: Demonstration of professionalism in interactions with internal and external stakeholders, including regulatory authorities and license holders.
  • Initiative: Proactive approach to identifying opportunities for process improvement and implementing solutions to enhance licensing efficiency and effectiveness.
  • Collaboration: Willingness to collaborate with colleagues across different departments and levels of the organization to achieve common goals.
  • Integrity: Commitment to upholding ethical standards and integrity in all licensing activities.

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