At AIA we’ve started an exciting movement to create a healthier, more sustainable future for everyone.

It’s about finding new ways to not only better people's lives, but to better the communities and environments we live in. And we build on this every day with our ambition to engage one billion people to live Healthier, Longer, Better Lives by 2030.

And to get there, we need leaders with the courage, clarity and humanity to inspire, guide and support their teams to thrive every day - in the work they do and the life they live. Our leaders always have and will play a vital part in our journey to help more people live Healthier, Longer, Better Lives, build healthier societies and cultivate healthier environments that better everyone.

If you sound like that leader, read on.

About the Role

The Head will oversee quality assurance processes within the insurance operations function, ensuring compliance with regulatory standards and internal policies. This role is pivotal in managing Anti-Money Laundering (AML) controls, implementing the 1.5 lines of defense model, and developing and maintaining governance framework for insurance operations. The Head will also be responsible for risk and compliance management, mitigate risks, and foster a culture of compliance and accountability within Operations.

Responsibilities:

Anti-Money Laundering

• Develop, implement, and maintain AML policies and procedures in accordance with regulatory, group and local compliance requirements.
• Conduct regular risk assessments and audits to identify vulnerabilities and enhance controls.
• Conduct due diligence of governance.
• Oversee the investigation and reporting of suspicious activities to the relevant functions and authorities.
• Coordinate and facilitate with relevant parties and key stakeholders to provide AML related refreshment training and awareness programs to employees in Operations, to ensure them are equipped the latest and updated AML knowledge.
• Represent the operations as the AML Committee ensuring the successful delivery of strategic objectives.
• Collaborate with law enforcement and regulatory agencies as needed.

Risk and Compliance

• Provide governance over the implementation of Operational Risk Management Framework with 1st Line owners and Subject Matter Experts (SME) to ensure consistent implementation and reporting of Operational Risks within Operations.
• Identify, assess, and mitigate risks related to quality control and governance processes within Operations.
• Develop and implement compliance monitoring programs to ensure adherence to regulatory standards and internal policies.
• Prepare and present risk and compliance reports to Senior Management and ExCo. Coordinate responses to reports requested by regulators/authorities.
• Lead internal audits and assessments to evaluate the effectiveness of risk and compliance frameworks within Operations. Monitor remedial actions for AML and risk control deficiencies.

Line of Defense

• Implement and maintain the 1.5 lines of defense model, ensuring clear roles and responsibilities across departments.
• Drive and collaborate with operational managers to ensure that first-line controls are effective and aligned with organizational objectives.
• Partner with and support to the second line of defense, ensuring independent oversight and challenge of first-line controls.
• Work closely with external auditors and regulators to facilitate assessments of the control environment.
• Conduct regular reviews of governance frameworks and practices to ensure they remain effective and relevant
• Stay informed about industry best practices and trends in governance and risk management
• Lead initiatives to enhance the company’s governance framework within operations, incorporating feedback from stakeholders

Stakeholder Engagement

• Collaborate with internal stakeholders (e.g. Compliance & Risk, Legal and Underwriting, etc.) to ensure cohesive governance practices.
• Act as a liaison between operational terms and executive management regarding operational governance issues.

Technology Oversight ​

• Evaluate and implement technology solutions that support operation governance and compliance.
• Ensure data integrity and security in insurance operations.

People Management

• Manage a team of employees (including outsourced/contract resources) with people management accountability and responsibility. Evaluate performance and prepare career development plan for employees.
• Manage succession planning of the responsible areas by reviewing and identifying potential successors, implementing learning and development activities to ensure succession planning is effective.
• Plan and organize learning programs, including technical trainings for enhancing overall knowledge on AML, risk and compliance, and other operation governance related topics.
• Ensure team members have obtained the relevant licenses and fulfilled the licensing requirements for performing the related job duties, if needed, to comply with the regulatory/ industry requirements.

Requirements:

• Bachelor’s degree in Business Administration, Finance, Risk Management, or a related field; Master’s degree preferred.
• Minimum of 15 years of experience in quality control, risk management, compliance, or related areas, and a deep understanding of the lifeinsuranceindustry.
• Strong knowledge of AML regulations and best practices, data governance frameworks, risk management principles and governance best practice.
• Ability to interpret regulatory requirements and translate them into operational practices.
• Ability to work collaboratively across departments and influence stakeholders at all levels.
• Excellent analytical, problem-solving, and decision-making skills.
• Strong leadership, communication and interpersonal skills, with the ability to collaborate effectively across departments.
• Strategic thinking capabilities.
• Detail-oriented with a focus on accuracy and compliance.
• Ability to manage multiple priorities and meet deadlines.
• Relevant license(s)/ certifications (e.g. Certified Risk Manager, Governance Risk and Compliance Professional) are a plus.

Others:

• You are required to obtain relevant license if your job involves in regulated activities

Build a career with us as we help our customers and the community live Healthier, Longer, Better Lives.

You must provide all requested information, including Personal Data, to be considered for this career opportunity. Failure to provide such information may influence the processing and outcome of your application. You are responsible for ensuring that the information you submit is accurate and up-to-date.