VP, Regulatory Compliance (Insurance Industry) - 18 Month Contract

• 18 Month Contract, but the intention is for this role to convert to permanent.
• Insurance industry experience (within Compliance) is highly preferred.
• Immediate start is preferred.
• Salary is negotiable depending on experience.
• Global MNC, highly prestigious project of work.

Role Purpose

A strategic business project is being deployed, which requires dedicated SME to provide time-critical regulatory compliance (RC) advisory and transition support, ensuring Legal Day 1 readiness and business continuity prior, during and through the Transitional Services Agreement (TSA) period.

The project requires compliance advisory across various complex activities, including but not limited to ensuring change management across RC processes, services, record keeping, as well as being the point of contact to provide regular reporting on workstream status, readiness and/or escalate bottlenecks or issues/ risks to the Project Management Office (PMO). From time to time, the role holder will be asked to lend support to BAU compliance activities across regulatory implementation, product and services review, incident management and regulatory engagement.

Key Responsibilities

1) Lead sub-workstream activities

• Active engagement and contribution to all relevant governance, working groups, and stakeholder meetings; drive follow-ups to closure (actions, owners, milestones, evidence), as well as escalate delivery risks or critical path slippages early.
• Identify, document, and manage change management including any RC dependencies across people, processes, technology, data and policies.
• Support the definition and documentation of agreed operating model requirements, to ensure readiness prior, during and post transition.
• Plan and execute the implementation of interim / tactical solutions where required before target-state capability is achieved.

2) RC Advisory & Program Delivery (BAU support as required)

• Support a fit-for-purpose RC framework that is aligned with internal standards and local regulatory requirements.
• Assist business with regulatory advice to ensure RC and reputational risks are managed in a practical manner and contributing to an inclusive culture of understanding business operations and needs.
• Work closely with stakeholders to resolve identified RC issues promptly and escalate concerns to management as appropriate to ensure timely awareness.
• Work closely under the guidance of line Manager to address queries from the regulators, manage regulatory engagements as well as to support regulatory disseminations and ensure that implementation by business is fully understood and completed.
• Lead in program implementation to quantify impacts and implement actions to address, manage and mitigate impacts of regulatory changes on the business.
• Engage with business to manage new product and services development, to ensure potential compliance issues are properly addressed at the early stage.

Knowledge, Skills and Experience

• Degree holder with 8-10 years of regulatory compliance experience in life insurance industry in Singapore.
• Candidates with audit background and strong understanding of regulatory compliance in financial institutions can also be considered.
• Compelling communication and influencing skills, with experience in dealing with different stakeholders across first and second line of defence, including able to articulate the case for risk management and policy in the language of business.
• Ability to develop practical solutions to complex issues and work independently, yet seek direction collaboratively when needed.
• Experience of interpreting complex information/ data and provide succinct summary for management.
• Experience of working within a matrixed environment preferred.
• Demonstrable experience supporting complex change initiatives, including understanding dependency, action tracking and reporting.