About FWD Group
FWD Group (1828.HK) is a pan-Asian life and health insurance business that serves approximately 40 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. FWD Group is listed on the main board of the Hong Kong Stock Exchange under the stock code 1828.
For more information, please visit www.fwd.com
About FWD Takaful Berhad
FWD Takaful Berhad (“FWD Takaful”) is a takaful provider in Malaysia that offers family takaful services. FWD Takaful is licensed under the Islamic Financial Services Act 2013 and is regulated by Bank Negara Malaysia. FWD Takaful is a takaful business unit of FWD Group.
Visit https://www.fwd.com.my
Join us
We’re proud to be a company that encourages and nurtures fearless innovation in achieving our vision of changing the way people feel about takaful. Our teams come from a wide variety of industries and backgrounds because we value developing a truly diverse pool of talent that brings different perspectives and experiences. Our values – committed, innovative, proactive, open, and caring – define who we are and what we do as we work together to bring our vision to life, every single day.
KEY ACCOUNTABILITIES
Strategic Vision and Leadership
- Provide overall leadership and guidance to the Compliance functions in the areas of Financial Crime Compliance (Anti Money Laundering (AML) /Counter Terrorist Financing (CTF) /Counter Proliferation Financing (CPF) /Targeted Financial Sanctions (TFS) /Anti Bribery & Corruption (ABC)), Whistleblowing, Distribution/Conduct Risk Compliance, while designing comprehensive compliance plan to assess the extent of business activities against established internal policies, standards, plans, procedures, laws and regulations.
- Engage with internal and external stakeholders to ensure that FWD Insurance’s compliance objectives and priorities are aligned with business direction.
- Provide advice and expertise to business units on compliance related requirements/issues in their day-to-day operations, as and when required.
- Accountable for the transparency and accuracy of all regulatory reporting to BNM and Board Risk Committee serving as the primary Regulatory Liaison Officer.
- Report material compliance incidents and issues to Country Chief Governance Officer, Country’s Executive Committee team and Group’s Chief Compliance Officer.
- Liaise with the Executive Committee team to develop and maintain effective compliance policies and controls.
- Accountable for Regulatory Change Management: identifying, assessing, and disseminating new regulatory requirements, including but not limited to Bank Negara Malaysia (BNM), Anti Money Laundering (AML), and Department of Personal Data Protection to business units and tracking implementation gaps.
Financial Crime Compliance (AML/CTF/CPF/TFS/ABC)
- Ensure compliance of BNM Policy Documents / Guidelines / Circulars (JPIs / GPIs), pertaining to AML/CFT and Targeted Financial Sanctions (TFS) by undertaking reviews and testing activities with regards to the effectiveness of the control measures at the respective business units/ HO departments.
- Accountable for the oversight of the Financial Crime Compliance framework. Supervise the Money Laundering Reporting Officer (MLRO) to ensure effective AML/CFT/TFS controls, while retaining ultimate accountability to the Board Risk Committee.
- Maintain and oversee the Anti-Bribery and Corruption (ABC) Framework, including Gifts & Hospitality registers and annual risk assessments.
- Accountable for the approval of Gifts & Hospitality (G&H) and Conflict of Interest declarations as the designated Anti-Bribery and Corruption Officer (ABCO).
Distribution/Conduct Risk Compliance
- Oversee the development and implementation of compliance strategies to support the growth of insurance distribution activities.
- As the 2nd line defense to provide oversight of distribution compliance, including but not limited to providing compliance related advice on fair treatment of customers, sales conduct, distribution risk, product development/distribution, communications and advertising to ensure adherence to relevant laws and regulations.
- Implement compliance monitoring program ensuring compliance with market conduct frameworks (e.g. Fair Treatment of Consumers and Treating Customers Fairly).
- Accountable for conducting independent investigations into Sales and Market Conduct misconduct. Collaborate with the Chief Risk Officer (Anti-Fraud Officer) on complex fraud cases involving internal staff collusion.
- Responsible for reviewing product and marketing materials to ensure compliance with the relevant internal policies and regulatory requirements.
- Accountable for the development and execution of the Annual Compliance Monitoring Plan, including the oversight of Mystery Shopping and Sales Quality reviews.
Regulatory Compliance
- Provide support, guidance and advice to the Executive Committee team in relation to regulatory changes and updates that may impact on FWD Insurance’s business operations.
- Monitoring regulatory issues are properly managed, mitigated, and reported with corrective actions.
- Act as the primary Regulatory Liaison Officer with Bank Negara Malaysia, coordinating regulatory submissions, inspections, and responses to supervisory queries.
- Oversee compliance training and awareness of all staff on key compliance requirements.
- Responsible for cascading changes in relation to the Responsibility Mapping Framework.
Data Privacy
- Serve as the designated Data Protection Officer (DPO) for FWD Insurance, accountable for the Privacy Compliance Program and liaison with the PDP Department.
- Oversee the Data Privacy Compliance Program, monitoring adherence to the PDPA and internal Data Privacy Policies.
Whistleblowing
- Responsible for the day-to-day implementation and administration of the provisions of the Whistleblowing Policy.
- Ensuring confidential channels are maintained and oversees investigation into whistleblowing cases except in cases involving the Compliance function, ensuring impartial administration of the Whistleblowing Policy.
Stakeholder Management
- Foster good and strong relationships with key stakeholders.
People & Succession
- Lead team, plan and execute succession planning.
- Ensure tone from top and echo from bottom are aligned as per Company Values.
- Provide training and continuous support to compliance functions to ensure sufficient knowledge and skills, to maintain quality compliance standards and practices.
- Foster a highly motivated and committed Compliance function to provide effective compliance services to support business growth.
- Ensure continuous staff engagement to drive positive and safe business growth.
Culture & Awareness
Promote a strong risk and sustainability culture.
QUALIFICATIONS / EXPERIENCE
- University/Master degree or equivalent professional qualification in Compliance/ Governance/ Insurance and other related field from established tertiary education provider.
- Minimum 15 years of experience in Compliance/ Governance functions in the Financial Services industry, preferably Family Takaful/Life Insurance industry, with strong and proven management experience at strategic level.
KNOWLEDGE & COMPETENCIES
- Business acumen in the Family Takaful/Life Insurance industry
- Knowledge in Compliance which includes but not limited to distribution compliance, financial compliance and regulatory compliance.
- Understanding of local regulatory, audit and compliance issues
- Result oriented
- Leadership skills
- Stakeholder management
- Visionary
- Able to work in a multi-cultural environment
