Job Description

Key Objective

The Manager, Monitoring & Testing is responsible for supporting the Monitoring & Testing process within the company to ensure that business operations, policies and procedures adhere to regulatory requirements and internal standards. The Manager will develop, establish the relevant policies and procedures and to design and conduct company-wide monitoring, testing and investigation activities.

Compliance Risk Management

• Oversee and monitor the Company’s businesses and operations to ensure they comply with the Company’s policies and BNM’s regulations.
• Conduct reviews and testing to promptly detect any non-compliance of regulations and guidelines, mitigate the risk of actual breaches and provide practical recommendations to address control deficiencies and process gaps.
• Assist in enhancing the Compliance Review Methodology, Review Program and Templates as needed.
• Perform independent compliance assessment and support the regional team in the annual Compliance Assurance Review.
• Support investigations into agent and staff misconduct.
• Review reported compliance breaches and ensure corrective and preventive action plans are implemented by the respective risk owners.

Communication and Training of staff

• Responsible for preparing training materials and conducting both role-based and regular training sessions for all staff on requirements and obligations under Compliance Monitoring & Testing.

Reporting

• Prepare reports as requested by the Chief Compliance Officer and Senior Management, including periodic reports on financial crime metrics, compliance issues and action plan

Others

• Perform additional responsibilities as directed by the Chief Compliance Officer and Senior Management.

• Familiarity with the Financial Services Act and all Bank Negara Malaysia regulations related to Insurance.
• Audit skills are an added advantage
• Proficiency in English, with good writing skills is essential.
• Strong research and analytical skills
• Effective communication skills and good stakeholders management.
• Self-motivated and proven ability to multitask and work independently.
• Meticulous and with a strong sense of responsibility and commitment
• Minimum 7 years of PQE in a relevant Compliance or Regulatory role. Candidates who have worked with the Insurance or Takaful Operators are a clear advantage.
• Tertiary education with a recognised degree from a reputable university.