Head of Risk and Compliance, Asia

at  QBE Insurance

PRIMARY DETAILS

Time Type: Full time
Worker Type: Employee
The Head of Risk & Compliance, Asia role is based in the QBE Asia Division. The role is to act as the leader of the Risk & Compliance function within QBE’s International Operations in the Asia region; and maintain the Risk and Compliance framework development for QBE’s International Operations in the Asia region and challenge and oversee the implementation of risk and compliance requirements within the business units.

• Strategy and Planning
• Develop and implement a 1st or 2nd line of defence Risk & Compliance Strategy (vision, roadmap, priorities) that will enable the business to comply with applicable laws, regulations, codes and standards relating to QBE’s financial services licenses
• Maintain effective interaction with key financial services regulators (HKIA, MAS , BNMY and Vietnam)
• Develop and implement an effective education, training and awareness program for risk & compliance
• Select and maintain appropriate risk identification and measurement methodologies
• Compliance program established and maintained
• Risk & Compliance policies, procedures and tools in place for all facets of organization
• Effective and transparent regulator stakeholder and liaison management while positioning QBE in best possible light
• Ensure adequate controls, procedures and processes are in place
• Effective communication and dissemination of risk & compliance strategy, policy and processes
• Risk identification and measurement methods meet business needs adequately
• Collaborate constructively with other members of International division Risk & Compliance in relation to the function
• Policy, Process and Procedures
• Monitor, advise and report on regulatory changes impacting the business and any requirements or actions to be implemented
• Co-ordinate proactive responses to new compliance requirements
• Promote a compliant and customer focused culture
• Develop, implement and maintain appropriate risk & compliance policies and procedures for QBE’s insurance business and financial and credit license requirements
• Monitor, report and investigate incidents or breaches including reporting to Board and senior management and advise on remedial action
• Breach reporting to regulators and responding to regulator enquiries
• Effective compliance training program implemented
• Develop and implement a targeted monitoring program effective processes for responsible managers and authorized representatives
• Assist to obtain and maintain all financial services licenses necessary for QBE to trade
• Effective reporting to Board and senior management
• Policies/processes/tools/workshops etc in place to assist business in understanding and meeting their risk & compliance obligations
• Compliance monitoring is in place and remedial action is taken where issues arise
• Organizational compliance and policy obligations understood by all employees
• Breach and incident reporting process implemented and maintained
• Ensure obligations on financial or credit service providers distributing financial products or providing advice are understood
• Continuous business process improvement
• Environmental Awareness/Customer Focus
• Provide 2nd line of defence insights to the business to help enable business objectives and initiate change
• Lead involvement of the compliance function key business projects, along with key senior stakeholders
• Provide guidance and expertise to the business
• Provide reports on regulatory changes, risk & compliance matters and issues at regular intervals to relevant stakeholders including AEL, Board and external agencies as required
• Build and maintain strong and effective relationships with key internal and external stakeholders
• Ensure risk & compliance controls are in accordance with the Risk Management strategy
• Provide guidance to Product and Distribution Managers to ensure all public documentation and distribution processes meet regulatory requirements
• Report breaches and ensure remedial action is taken including notification to regulators as appropriate
• Training methodology and materials developed for all business areas
• Be approachable to all levels of employee & all stakeholders
• Lead the embedding of a customer focused culture
• Monitoring and reporting on compliance adequacy delivered in a timely manner
• Build strong key stakeholder relationships
• Positive stakeholder feedback
• Key liaison relationship with relevant regulators including HKIA, MAS, BNMY & Vietnam regulator
• Collaboration across 1st or 3rd line of defence functions
• Technical Performance
• Identify all appropriate external regulatory and risk & compliance frameworks relevant to financial services and implement as relevant to facilitate compliance by the business
• Provide timely advice and solutions to business on interpretation/impact/compliance with regulatory requirements to ensure licenses are met Keep abreast of and provide regular reporting/analysis of regulatory change and requirements impacting the business
• Regular advice and reporting on regulatory changes that may impact on the business
• Timely and effective advice on the implications of the relevant regulatory changes
• Regular communication to relevant business units
• People Management
• Provide vision and direction for Risk & Compliance team consistent with vision and values
• Actively coach & develop team
• Share knowledge/insights with team and beyond
• Translate CRO messages into meaningful takeaways that are relevant to team members
• Facilitate the team achievement of KPIs and prepare and implement Performance Management Process with team to ensure expectations are understood and met
• Promoting and demonstrating the Essential Behaviours, providing leadership, development and feedback to the team
• Establish and monitor the Personal Development Plans of all direct report