Senior Manager – Legal, Compliance & Risk

About FWD Group

FWD Group is a pan-Asian life and health insurance business that serves approximately 30 million customers across 10 markets, including BRI Life in Indonesia. FWD’s customer-led and digitally enabled approach aims to deliver innovative propositions, easy-to-understand products and a simpler insurance experience. Established in 2013, the company operates in some of the fastest-growing insurance markets in the world with a vision of changing the way people feel about insurance.

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FWD Technology and Innovation Malaysia Sdn. Bhd., known as FWD TIM, was established in late 2019. Strategically located in Kuala Lumpur, FWD TIM serves as a pivotal shared service location within FWD Group, providing services to multiple markets across the Group. FWD TIM houses a diverse and talented workforce focused on essential business and technology services such as information security, cloud operations, IT solutions delivery, digital and data, actuarial, finance, investments, and customer service, among many others. FWD TIM is dedicated to drive and deliver operational excellence and efficiency, foster innovation and ensure regulatory compliance across all business functions as well as maintain a competitive edge in the market.

PURPOSE

Responsible for all the Governance, Legal, Risk and Compliance matters of TIM, providing technical advice to Head of TIM and other senior management team members to ensure TIM’s transactions are in compliance with applicable Group policies and standards, local laws and regulations i.e. BNM, PIDM etc and to ensure a robust and effective compliance framework.

COMPLIANCE

Assist and support Head of TIM in :

Ensuring compliance risk is effectively managed and controls in place.

Ensuring compliance risk is assessed, reviewed and monitored regularly.

Ensuring compliance to regulatory requirements.

Ensuring mandatory statutory training courses are completed by all TIM staff and officers.

Ensuring implementation of Group Compliance projects and initiatives within TIM.

Legal

Provide legal advice on the interpretation of applicable laws and regulations.

Work closely with Group Legal to draft, review, negotiate and modify commercial contracts and agreements entered by TIM and any spillover from Group Office.

Ensure the terms and conditions of the contracts / agreements strongly and legally protect TIM’s interests with the third parties.

Manage ICSA’s entered into between TIM and other members of the FWD Group.

Risk

Provide ad-hoc support to Group Risk as needed (e.g. assess risks TIM is exposed, Business Continuity arrangements, processes and controls review)

Reporting on risk issues / incidents to TIM management and Group Risk and Group Compliance.

KEY ACCOUNTABILITIES

Manage reports of Non-Financial and Compliance Risks and provide support with the provision of compliance risk management advice.

Ensure that compliance risks are considered in the overall risk assessment process for TIM.

Provide advice and support to Head of TIM on all Legal and Compliance matters.

Liaise with regulators and industry bodies and participate, where possible, in industry meetings to ensure knowledge exchange about regulations and to improve compliance risk management knowledge.

Drive Compliance activities and initiatives within TIM.

Partner with Group Legal, other Risk Management functions, and Management to ensure integrated risk management efforts without duplication.

KEY PERFORMANCE INDICATORS

To provide effective compliance services to support TIM

Regular reports are prepared and presented as and when required

To advise on adverse consequences arising from regulatory compliance and reputational breaches / issues are properly managed, mitigated and reported, with remedial action initiated in line with the materiality of the risk / issue

Efficient coordination of regulatory related request and ensure proper communication.

To protect TIM from legal risks and liabilities and to escalate material legal issues to Group Legal.

EXTERNAL & INTERNAL CONTACTS

Group Office executives

Senior Management

Functional Heads

Group Legal & Compliance

BUs Legal & Compliance

Regulators (BNM, PIDM, etc)

DECISION MAKING

In accordance with FWD delegated authority

QUALIFICATIONS / EXPERIENCE

Degree in Law / Compliance / Audit and / or relevant experiences; or Qualified lawyer (Malaysia, common law)

Minimum of 5 years of Banking / Insurance / Takaful work experience in the compliance and / or Audit functions;

Experience in a regulatory set-up with compliance or audit background.

KNOWLEDGE & TECHNICAL SKILLS

Excellent communication and inter-personal skills, with experience of dealing with executives at all levels including the capacity to articulate the case for risk management and policy in the language of business.

Experience of interpreting and analysing a large volume of information and / or data and provide succinct summary for management.

Strong team-player attitude.

Consistent follow-through in ensuring corrective or mitigating actions are put in place or closed out.

Pro-active in identifying regulatory compliance issues or developing appropriate recommendations / solutions

OUR COMPETENCIES

Follow Group’s competency requirements