Manager, Operation Risk, Life Operations

Manager Of Operation Risk In Life Operations

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 tech-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.

As a Manager of Operation Risk in Life Operations, you will perform 1.5 line (in between first line – Life Operations and second line - Compliance) of life operational risk and resilience monitoring duties, especially for non-AML related items such as fraud, guidelines issued by Insurance Authority, VHIS, BCP, etc., to ensure the organization's adherence to regulatory requirements and internal policies:

The job includes:

• Act as the subject matter expert of LO for regulatory matters
• Manage regulatory-related non-AML controls & processes including FATCA, CRS, Fraud, Guideline issued by Insurance Authority
• Maintain procedural manuals (e.g. FATCA / CRS) and ensure standard operating procedures for different LO processes in accordance with regulatory, group and local compliance requirements
• Assist 2nd line of defense (i.e. Risks and Compliance) to promote a sound risk and compliance culture across LO
• Work closely with 2nd line and challenge of 1st line regulatory-related controls
• Assist 1st line in LO in identifying and understanding the risk exposures associated with various assessments including but not limited to fraud risk assessment
• Coordinate and validate the correctness of responses from 1st line to the enquiries, observations and findings requested by regulators during reviews and inspections and in regulator-related projects engaged with external auditors
• Conduct regular reviews within LO to ensure regulatory-related controls are in place and remain effective
• Drive various parties to produce corrective actions and ensure proper implementation with on-going monitoring
• Partner with Compliance to work out gap analysis for new regulatory requirements and regulatory updates
• Work and collaborate closely with various parties and stakeholder including but not limited to Internal Audit, Risk, Legal, Compliance, IT, BAU teams (New Business, Life Administration, Claims and Customer Engagement), IT, regulators (e.g. Insurance Authority) and vendors
• Work closely with stakeholders to ensure internal systems, procedures and workflows aligning with company policies and regulatory requirements
• Prepare and/or review user requirements and procedures for regulatory enhancements in Life Operations processes and systems
• Prepare regular and ad-hoc reports highlighting key risk exposures, trends, and emerging issues for senior management
• Handle ad-hoc projects as assigned

The person includes:

• Degree holder or above
• Minimum 8 years' experience in life insurance sector, preferably in Life Operations or Compliance
• Deep understanding of regulatory requirements (e.g. FATCA & CRS, fraud, guidelines issued by Insurance Authority), especially on the operational perspective
• Strong ownership, self-motivated and independent to drive changes
• Analytical and critical thinking with solution driven mindset
• Confident in dealing with various stakeholders independently including senior management
• Good command of both spoken and written Chinese & English

We offer 5-day work, 20-22 days annual leaves, excellent learning & development opportunities and an attractive package to the right candidate. Information collected will be treated in strict confidence and used solely for recruitment purpose. The company will retain all applications no longer than 24 months of which will be destroyed thereafter. When there are vacancies in any of our subsidiaries, holding companies, associated or affiliated companies of, or companies controlled by, or under common control with the Company during that period, we may transfer your application to them for consideration of employment. We are an equal opportunity employer. We do not discriminate on the basis of race, sex, disability or family status in employment process.