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Job Description

Opening date 06-Jun-2024 Closing date 21-Jun-2024 Job description

Some careers open more doors than others.

If you're looking for a career that will unlock new opportunities, join HSBC and experience the possibilities. Whether you want a career that could take you to the top, or simply take you in an exciting new direction, HSBC offers opportunities, support and rewards that will take you further.

HSBC Life in Singapore is the combination of AXA Singapore and HSBC Insurance. Here you can specialise in Insurance but enjoy the advantages that come with being part of a leading global international bank.

Insurance is about people, and the promises they make. At HSBC Life in Singapore we help deliver on these promises by providing a wide variety of life insurance products and services to our clients throughout the Asia-Pacific region. Our employees enjoy a dynamic and innovative workplace and a world of opportunities to develop their careers in a high-profile growing business segment. We empower our combined team of high-performing individuals to build skills and explore new experiences to realise the full potential of being part of HSBC.

Together we will pursue efficient ways of working. We will harness the latest data and technology solutions to achieve meaningful outcomes for our clients. And the protection we offer will create broad and lasting impact, helping clients to be healthier, more productive and more confident in their futures.

We are currently seeking a high calibre professional to join our team as a Senior Vice President, Regulatory Compliance (Insurance).

Principal Responsibilities

To support the SVP Head of RC to:

• Provide compliance advisory to the insurance business through proactive and practical advice, with focus on regulatory compliance matters, covering local regulatory requirements, expectations as well as HSBC Group policies and framework
• Exercise risk stewardship challenge relating to Compliance risk taxonomies, such as in governance forums and through effective issue management, foster a strong compliance culture with business risk and control owners
• Promptly communicate new regs or changes in regulations that have impact on insurance business, including keeping abreast of key local regulatory change and oversight on business' development of appropriate policy and framework to manage to the changes
• Actively participate and engage with risk and control owners in managing the new product and services development, to ensure that potential compliance issues are properly addressed at the early stage
• Identify regulatory compliance issues timely, with a view to resolve them promptly to ensure compliance risks are addressed and mitigated. Report and escalate material issues to relevant stakeholders and management from time to time
• Maintain strong relations with regulators and industry bodies, including oversight on regulatory inspections and responding to any regulatory compliance queries from regulators
• Prepare and furnish governance reports related to regulatory compliance matters and think critically to challenge any business inputs to these reports, to local, regional and head offices as required
• Develop strong communication and working relationship within other stakeholders to ensure implementation of regulations, new policies and standards
• Maintain and observe all HSBC control standards and implement and observe the Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators pertaining to regulatory compliance function
• Provide advisory support on MAS corporate governance related regulations such as appointment of key executive persons, individual accountability and conduct guidelines requirements