Senior Manager, Regulatory Compliance

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Job summary:
To provide leadership support in the design and implementation of compliance programmes, policies and procedures and provision of proper guidance/advice to ensure that the Business Functions and members of the sales force conduct their business operations ethically and in accordance with applicable local laws, regulations, guidelines and regional compliance standards.

JOB SCOPE:    (role purpose)

The incumbent is responsible to provide leadership support in driving the design and implementation of regulatory compliance program in the areas of sales quality assurance, sales conduct risk management, regulatory governance and compliance incident management in accordance with applicable local laws, regulations, guidelines and Group Compliance standards.

Principal Duties & Responsibilities:

The below are description of key accountabilities and not meant to be exhaustive. As and when, the job description may change to respond to the development of business operations as well as regulatory changes.

• Provide regulatory compliance support, guidance, and advice to internal stakeholders, distribution channels (bank partner and agency), Marketing and Brands and Communication in relation to regulatory developments, gap analysis and projects, initiatives, process enhancements etc. This also includes
• Establish and enhance Sales Compliance programs, procedures, and checklists for periodic monitoring, including taking appropriate steps to improve the effectiveness;
• Implement sales compliance initiatives roll-out by Group Compliance including development of localised policy and procedures;
• Develop and update the sales compliance training materials, as appropriate;
• Provide advisory support in the assessment and management of compliance-related incidents, ensuring appropriate resolution aligns with regulatory expectations.
• Oversee the ROP appeal process, ensuring proper implementation and governance.
• Monitor and provide oversight of the Welcome Call implementation, including advisory of call lead criteria and FUFT on welcome call observations.
• Serve as a permanent member of both the Bank Governance Meeting and the Agency Governance Meeting, contributing compliance insights and recommendations.
• Review and assess marketing and promotional materials to ensure compliance with applicable laws, regulations, and internal standards.
• Manage and monitor regulatory change management, including coordinate gap analysis, provide advisory and monitor implementation plan. This includes changes to Group Compliance Policy and standards.
• Support the Management on any regulatory compliance issues as they arise.
• Develop or update Regulatory Compliance procedures and checklists, where relevant
• Assist in preparation of Annual Compliance Plan and ensure relevant activities are completed within the timeline
• Assist in preparation of compliance reports to Executive Risk Committee, Board Audit Committee, ExCo, Group Compliance and other relevant stakeholders, where relevant.
• Liaise with Regulators, Group Compliance with regards to regulatory examinations or reviews, where relevant.
• Represent the Department as compliance advisor in initiatives or projects or process enhancements rolled out by the Company.
• Where relevant, conduct Compliance training for Business Functions to improve their understanding on governing regulatory requirements. Update compliance training materials, as appropriate.
• Participate in compliance review or thematic reviews to test the effectiveness of compliance risk controls (in collaboration with the Compliance Assurance team)
• Carry out any other assignments/task as may be assigned by the Head of Compliance from time to time. 
• Act as the subject matter expert on conduct risk, with responsibilities including:
• Prepare the quarterly FTFC MI report for the ERC, and subsequently for the BAC.
• Monitor and analyze trends in conduct indicators based on the Group Conduct Risk Metrics, identifying emerging risks and recommending mitigation strategies.
• Prepare and circulate monthly summaries to EXCO on the overall state of PAMB’s conduct risk, highlighting key developments, issues, and action plans.
• Actively participate in the FTFC Working Group at the local level and the Customer Conduct Working Group (CCWG) at the Group level to support alignment of regulatory and group expectation.
• Establish and enhance Sales Compliance programs, procedures, and checklists for periodic monitoring, including taking appropriate steps to improve the effectiveness;
• Implement sales compliance initiatives roll-out by Group Compliance including development of localised policy and procedures;
• Develop and update the sales compliance training materials, as appropriate;
• Provide advisory support in the assessment and management of compliance-related incidents, ensuring appropriate resolution aligns with regulatory expectations.
• Oversee the ROP appeal process, ensuring proper implementation and governance.
• Monitor and provide oversight of the Welcome Call implementation, including advisory of call lead criteria and FUFT on welcome call observations.
• Serve as a permanent member of both the Bank Governance Meeting and the Agency Governance Meeting, contributing compliance insights and recommendations.
• Review and assess marketing and promotional materials to ensure compliance with applicable laws, regulations, and internal standards.
• Prepare the quarterly FTFC MI report for the ERC, and subsequently for the BAC.
• Monitor and analyze trends in conduct indicators based on the Group Conduct Risk Metrics, identifying emerging risks and recommending mitigation strategies.
• Prepare and circulate monthly summaries to EXCO on the overall state of PAMB’s conduct risk, highlighting key developments, issues, and action plans.
• Actively participate in the FTFC Working Group at the local level and the Customer Conduct Working Group (CCWG) at the Group level to support alignment of regulatory and group expectation.

Job Specification

Qualifications

Degree in Accounting, Finance, Law, Business, or other related discipline.

Experience

At least 8-10 years’ experience in compliance, audit, legal or a regulatory compliance related role; related working experience in insurance or banking would be an advantage.

Requirements

• Strong knowledge of regulatory guidelines governing the insurance industry or banking or other related financial services.
• Good knowledge of insurance or banking or other related financial services operations.
• Strong knowledge and experience in compliance risk management
• Strong communication and interpersonal skills
• Ability to work effectively in a team and manage stakeholders
• Ability to recommend a pragmatic approach for problem solving
• Ability to work in a demanding and collaborative environment

Prudential is an equal opportunity employer. We provide equality of opportunity of benefits for all who apply and who perform work for our organisation irrespective of sex, race, age, ethnic origin, educational, social and cultural background, marital status, pregnancy and maternity, religion or belief, disability or part-time / fixed-term work, or any other status protected by applicable law. We encourage the same standards from our recruitment and third-party suppliers taking into account the context of grade, job and location. We also allow for reasonable adjustments to support people with individual physical or mental health requirements.