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Assistant Manager, Compliance
Berjaya Sompo Insurance BerhadNovotel Kuala Lumpur City Centre, Kuala Lumpur, Malaysia5 hours ago
Job descriptionPartner with Legal Department to assess the impact of new acts, regulations, and guidelines, ensuring timely implementation and communication to stakeholders. Conduct reviews and updates of corporate policies and procedures, maintaining a structured timeline for revisions. Monitor and manage timelines for the periodic review and update of policies and procedures. Assist in preparing and drafting Compliance Reports for senior management, the Board, and Board Committees for review by the CCSO. Support timely and accurate regulatory reporting, internal compliance submissions, and responses to due diligence requests. Maintain proper documentation to support internal audit and regulatory inspections. Coordinate and support compliance-related training and awareness programs for staff, including periodic updates on new regulations and internal policies. Maintain records of training activities to demonstrate compliance with regulatory and audit expectations. Assist in reviewing guidelines issued by regulators, statutory agencies, and industry associations to identify regulatory requirements and gaps. Disseminate regulatory updates to relevant stakeholders and follow up to ensure closure of identified gaps. Provide guidance and advisory support to business and support units on regulatory developments and compliance obligations. Review marketing and product-related documentation (e.g., brochures, proposal forms, disclosure sheets) to ensure compliance with applicable regulations. Support the CCSO in preparing Compliance-related reports for presentation at Management and Board-level committees, and the Board of Directors. Assist with the preparation of materials and follow-ups related to compliance governance meetings. Provide support to the regional and group compliance teams, including alignment with group-wide policies, frameworks, and initiatives. Participate in group-level compliance projects, consultations, and regional reporting requirements as needed. Support the department in achieving the department's annual compliance plan, initiatives, and key deliverables. Perform any other compliance-related duties as assigned. Bachelor's Degree or Diploma in Law, Finance, Business Administration, or a related discipline. Minimum 5 years of relevant working experience in compliance, risk management, or internal control functions. Experience in the financial services sector, particularly general or life insurance, is a strong advantage. Strong understanding of compliance frameworks, risk assessment and management processes, audit principles, and corporate governance. Good working knowledge of the Malaysian regulatory environment (e.g., BNM, PIAM) and the implications of regulatory requirements on insurance operations. Demonstrated ability to adapt to evolving regulatory landscapes and business needs while ensuring ongoing compliance. Excellent interpersonal, written, and verbal communication skills with the ability to work collaboratively across functions and with regional and group teams. Strong analytical, problem-solving, and decision-making skills with the ability to resolve issues efficiently and implement corrective actions where necessary. Ability to manage multiple stakeholders, prioritize tasks, and meet tight deadlines in a dynamic work environment. Good documentation and record-keeping skills, with proficiency in Microsoft Office applications. A team-oriented mindset, coupled with the ability to work independently and take ownership of responsibilities.
We are seeking an experienced and proactive candidate to join our Compliance team. This role plays a critical part in designing, implementing, and maintaining a robust compliance framework to support the company's operations and strategic direction. The successful candidate will be responsible for ensuring that the company adheres to applicable governance standards, internal control requirements, and regulatory obligations.
The Assistant Manager will provide day-to-day compliance support across the business, with a strong focus on ensuring ongoing compliance with Bank Negara Malaysia (BNM) guidelines, the Financial Services Act, circulars and notifications issued by the General Insurance Association of Malaysia (PIAM), and other applicable regulatory requirements. The role also involves monitoring regulatory developments, supporting the implementation of compliance strategies, and fostering a strong compliance culture throughout the organization.
This is an excellent opportunity for a candidate who is detail-oriented, knowledgeable in financial regulatory matters, and passionate about building a strong culture of integrity and accountability.
Key Responsibilities
Compliance Program Management
- Assist in developing, implementing, and maintaining the company's compliance framework in line with regulatory and internal requirements.
- Ensure ongoing compliance with Bank Negara Malaysia (BNM) Guidelines, the Financial Services Act 2013, and circulars from the General Insurance Association of Malaysia (PIAM).
- Support the execution of the Anti-Money Laundering / Counter-Financing of Terrorism (AML / CFT) compliance program, including sanctions screening, transaction monitoring, reviewing and clearing screening hits, and assessing suspicious transactions before submission to regulators.
- Assist in the implementation of Personal Data Protection Act (PDPA) initiatives, including breach management, awareness efforts, and resolution of incidents.
- Monitor and test internal controls to evaluate their effectiveness in managing compliance risk and follow up on any identified deficiencies.
Policy Development and Review
Compliance Reporting and Documentation
Compliance Training and Awareness
Regulatory Review and Advisory
Compliance Support on Corporate Governance Matters
Regional and Group Support
General and Ad Hoc Responsibilities
Qualifications and Skills
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Compliance Manager • Novotel Kuala Lumpur City Centre, Kuala Lumpur, Malaysia
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