Senior Executive/Executive, Internal Sales Audit

Job Description

To independently conduct reviews and assessment for the financial advisory activities performed by Appointed Representatives (AR) under the FAA Balanced Scorecard (BSC) framework. The role assesses the quality, completeness and regulatory compliance of sales and advisory processes through tools and processes such as transaction reviews, client validation, client survey, mystery shopping etc. This function supports the business by strengthening governance oversight, promoting fair dealing standards and ensuring accurate grading and regulatory reporting of advisory activities.

Accountabilities

1) Independent Sales Audit Review

• Conduct regular sampling of advisory transactions.
• Perform post-transaction documentation reviews under the FAA Balanced Scorecard framework.
• Assess client survey outcomes and mystery shopping findings.
• Review and investigate substantiated complaints impacting advisory conduct.
• Classify infractions with documented rationale and evidence.

2) BSC Grading, Calibration and Governance Reporting

• Consolidate review results into quarterly BSC grading.
• Perform internal calibration to ensure consistency of assessment standards.
• Participate in calibration with Chief Compliance Officer.
• Maintain assessment master file and data integrity.

3) Data Extraction, Sampling Methodology and Client Survey Administration

• Determine transaction population and sampling size for each AR in accordance with the prescribed methodology.
• Retrieve relevant transaction reports and prepare raw data for submission to the RPA process for consolidation and sampling.
• Review and transpose RPA sampling outputs into the Sales Audit master file and assign cases to reviewers.
• Prepare file specifications for the statement printing team where written surveys are required to be issued to clients.

4) Appeals Management

• Review appeal submissions and mitigating evidence.
• Provide independent commentary to Appeal Committee.
• Consolidate quarterly appeals outcomes.

5) Regulatory and Management Reporting

• Validate data prior to submission to management and regulator.
• Ensure accuracy of BSC reporting outputs.
• Prepare quarterly papers and/or presentations to SERCC and MAS.

6) Training, Communication and Knowledge Sharing

• Conduct training and briefing sessions on key infraction trends and audit observations to relevant stakeholders to strengthen advisory standards.
• Share quarterly BSC results and key observations during Branch Managers meetings.
• Perform ad-hoc case sharing with the Training team to highlight advisory conduct issues and lessons learned.

7) Third Party Arrangement Oversight

• Monitor vendor execution of mystery shopping and survey activities.
• Review deliverables including recordings and reports.
• Conduct periodic TPA reviews and update procedural manual.

Requirement

• Bachelor's Degree in Business, Finance, Accounting, or a related discipline.
• 3–5 years of relevant experience in Sales Advisory Quality Assurance, Compliance, Training & Competency, or Internal Audit within the financial services industry.
• Good working knowledge of wealth management products and advisory processes.
• Professional certifications such as CMFAS modules (M1B, M5, M6, M6A, M8, M8A, M9, M9A, HI) are advantageous.
• Strong understanding of regulatory requirements governing financial advisory activities, including fair dealing and advisory processes under the oversight of the Monetary Authority of Singapore.
• Ability to conduct independent control testing and post-transaction reviews with sound judgment.

*Only shortlisted applicants will be notified.