Posted on 2021-10-11

Head of Compliance, Hong Kong and Macau, Legal & Compliance, HK

Arion House

 

Role Summary:

Reporting to the Chief Compliance Officer, Asia Segment, with matrix reporting to Chief Legal and Compliance Officer, Hong Kong, you will be responsible for leading and managing 4 teams of compliance professionals (IFP Compliance, Distribution Compliance, AML/FATCA/CRS Compliance, Corporate Compliance) to provide regulatory and compliance advice and oversight on all regulatory and compliance matters relating to the organisation’s IFP’s operations in Hong Kong and Macau.

This role also has matrix oversight of Employee Benefits Compliance, working closely with colleagues in the organisation’s Investment Management Compliance team.

Job Description:

  • Act as Business Unit Compliance Officer for the organisation’s Hong Kong and Macau IFP and retirement business, ensuring that programs are in place to reasonably ensure compliance with all relevant laws as well as corporate policies and standards.

  • Provide regulatory and compliance advice on IFP and retirement business related matters to IFP/retirement business and operation teams in Hong Kong and Macau, and provide effective challenge to the business where required and as appropriate.

  • Responsible for all aspects of MIL’s 2nd line of defense regulatory compliance program, including but not limited to, life and health product compliance, sanctions, AMLATF/FATCA/CRS, distribution compliance, retirement business compliance, and corporate compliance matters for our Hong Kong and Macau IFP and retirement business.

  • Monitor any relevant legal and regulatory developments, initiatives or requirements, conduct gap analyses of existing policies and procedures and ensure timely implementation of any required enhancements or changes, including consultation on draft regulations with regulators, industry associations and peer organizations.

  • Supports MIL’s High Net Worth (HNW) business by ensuring that timely and risk-based advice is provided on specific cases, and that our overall Compliance risk with respect to the HNW business is effectively mitigated.

  • Oversee and ensure the continuous implementation and effectiveness of the compliance framework, including the review and preparation of policies, guidelines, procedures and training.

  • Oversee the review marketing materials, including product brochures, video scripts, press releases and advertisements.

  • Oversee and monitor compliance testing in conjunction with Regional and Global Compliance Testing teams.

  • Handle enquiries and investigations by the relevant regulators such as the Hong Kong Insurance Authority, MPFA, SFC or AMCM, and support the MIL General Manager and Chief Legal and Compliance Officer to build strong regulatory relationships.

  • Coordinate requests from law enforcement agencies.

  • Prepare ongoing reports for periodic regulatory/compliance updates to the organisation’s Board of Directors,

    Regional and Global Legal and Compliance and Senior Management.

  • Perform such other duties as may be assigned from time to time by Chief Compliance Officer, Asia Segment

    and/or Chief Legal and Compliance Officer, Hong Kong and Macau.

  • Occasional travel to Macau may be required to carry out above duties.

Experience & Qualification:

University graduate with related field of study like insurance, banking, audit or law.

  • Professional designation such as Accountancy, Audit, Law or Actuarial would be an asset.

  • 10 years of relevant experience working in the compliance field in the banking, insurance, or financial

    services sector.

  • Profound knowledge of IFP, MPF and ORSO products and insurance regulatory requirements is preferred,

    although the right candidate from another regulated financial service (banking, asset management, etc.)

    would be considered.

  • Experience working within a multinational financial institution, particularly one with US or Canadian

    regulatory obligations, would be an asset.

Knowledge/Skills:

  • Excellent leadership, analytical, diagnostic and problem-solving skills.

  • Able to manage sometimes difficult conversations with senior leaders, including taking and defending

    sometimes unpopular positions where required.

  • Excellent communication, negotiation and presentation skills in written and spoken English, and Chinese

    (Mandarin and Cantonese) are required. Strong people management skills, with a passion for leadership and

    the creation of high performing teams.

  • Ability to work independently.

  • Ability to work under tight deadlines.

  • Proactive and attentive to details.

  • Ability to work within a globally operating team with a collaborative mindset.

  • Independent, analytical thinker, hard-working and with a solution-orientated mindset.

  • Ability to adapt to an ever-evolving environment.

 

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More job information
Salary
Job Function
Industry
Employment Term
  • Permanent
  • Full-time
Experience
  • 10 years
Career Level
  • Middle management level
Education
  • Degree