Product Compliance Manager
24 hours ago
About the Role
We are seeking a highly skilled Product Compliance Manager to join our team. As a key member of our Distribution Compliance Team, you will be responsible for ensuring the quality and sustainability of our business as we continue to expand our salesforce.
Key Responsibilities:
- Subject Matter Expert (SME) for Product, Sales Conduct, distribution compliance and fair treatment of customers across the full policy lifecycle.
- Management and oversight of regulatory/compliance obligations; Ensuring controls and processes are in place to detect and mitigate any risk of non-compliance.
- Develop and implement the compliance monitoring and testing program for on-going assessment of control effectiveness of PSD risk.
- Preparation, review and submission of internal and regulatory reporting within the timeline.
Individual Accountabilities:
- Act as primary reviewer of all life insurance products.
- Work with L1 to identify, monitor and report PSD risk that may arise to the Chief Compliance Officer (CCO).
- Develop and conduct risk assessment models, tools and controls testing to identify risks and propose the control measure for mitigation approach.
- Carry out annual compliance quality assurance testing in accordance with the Distribution Compliance Controls Testing Guide, provision of law, internal rules and regulation and applicable professional ethical standards applicable to Manulife and MCBL sales force.
- Oversight the implementation of controls (QA, sample testing, mystery shopping, etc.) by 1LOD, review the testing results and advise on the mitigation actions.
- Ensure that the complaints, allegations, indicators (from various sources) relating to agent sale misconduct are properly and timely assessed to provide fair feedback to customer and for appropriate disciplinary action imposed on the violation agents.
- Ensure that the sales misconduct & distribution fraud investigation are conducted, including progression of activities or steps moving from evidence gathering tasks, data/information analysis, to theory development and validation, to forming reasonable ground to believe, to interview directly the related parties and finally to enforce ethic code timely.
- Review the sales & marketing documents to ensure regulatory compliance.
- Review appropriateness of sale compensation structure, etc. ensure that no Salespeople are incentivized based on compensation and incentive programs that favor certain products or features over the interests of clients.
- Conduct TPDD on the sale partners as company requirements.
- Main coordinator for the Internal Audit Examination, Divisional Quality Assurance Testing and Divisional Compliance Testing.
- Other tasks and projects as assigned by the Chief Compliance Officer.
The Ideal Candidate
- You have minimum 7 years relevant experience in insurance, financial services industry or regulatory bodies in Compliance.
- You have knowledge of financial services industry, related legislations, regulators, industry best practices and professional standards, especially in Product, Sale & Distribution Compliance.
- You have knowledge and experience in insurance product.
- You possess good interpersonal skills to work with various stakeholders and as a team.
- You can work under pressure with good Compliance judgement skill.
- Professional qualification in law or accounting, insurance, fraud examination is an asset.
- You have customer centric attitude and a sense of execution urgency.
- You can work independently and proactively, as well as be a team player. Support on local and regional projects.
- You are familiar with system reports and presentations utilizing excel and PowerPoint skills.
- You establish and maintain relationships with industry association and members.
What We Offer
- A competitive salary and benefits packages.
- A growth trajectory that extends upward and outward, encouraging you to follow your passions and learn new skills.
- A focus on growing your career path with us.
- Flexible work policies and strong work-life balance.
- Professional development and leadership opportunities.
Our Commitment to You
- Values-first culture
We lead with our Values every day and bring them to life together. - Boundless opportunity
We create opportunities to learn and grow at every stage of your career. - Continuous innovation
We invite you to help redefine the future of financial services. - Delivering the promise of Diversity, Equity and Inclusion
We foster an inclusive workplace where everyone thrives. - Championing Corporate Citizenship
We build a business that benefits all stakeholders and has a positive social and environmental impact.
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