You desire impactful work.
You’re RGA ready
RGA is a purpose-driven organization working to solve today’s challenges through innovation and collaboration. A Fortune 500 Company and listed among its World’s Most Admired Companies, we’re the only global reinsurance company to focus primarily on life- and health-related solutions. Join our multinational team of intelligent, motivated, and collaborative people, and help us make financial protection accessible to all.
Brief Overview
This role reports to the Chief Operating Officer of Hong Kong & High Net Worth Markets to ensure the RGA Reinsurance Company Hong Kong Branch is in compliance of the Hong Kong insurance regulations and other relevant compliance requirements for the Hong Kong reinsurance business. This also covers providing assurance over all control aspects of the Hong Kong office across both front and back office functions. This position is responsible for leading all aspects of Hong Kong ("HK") Compliance.
What you will do
- Responsible for the Branches’ compliance with the insurance regulations and all other relevant commercial regulations, supervisory guidelines as well as Branches and RGA policies. This includes the Hong Kong & US regulations for RGA Reinsurance Co. Ltd, Hong Kong Branch as well as any future corporate structure the Hong Kong & High Net Worth business may take.
- Communication with the management team of the Hong Kong Branch to ensure compliance issues for the respective Branch is brought to their attention and to discuss and assist in remediation of these issue on their behalf.
- Being the key liaison contact point with he Hong Kong Insurance Authority on compliance matters and acting as the “Key Control Person” for Compliance
- Establish and implement a compliance framework to provide ongoing assurance relating to meeting regulatory obligations, undertake quarterly compliance reporting to the relevant Audit, Risk and Compliance Committees.
- Review and update compliance manuals and other compliance rules and policies on a regular basis.
- Conduct compliance training for employees periodically.
- Monitor the Branches’ compliance with applicable laws and regulations related to the insurance business and the policies of the Hong Kong Branch and RGA.
- Monitor and comply with revisions of insurance regulations and its enforcement and other commercial laws and regulations applicable to the Branch business.
- Work closely with VP Global Compliance in Global Head Office to assure that the Branches follows RGA’s global compliance practices and reporting.
- Participate in the data incident management and remediation
Qualifications
- Bachelor’s Degree in Arts/Sciences (BA/BS) with minimum of ten years as a compliance officer with a financial institution, preferably an insurance company required
- Develop quality assurance framework for the Hong Kong Branches. Develop methodology for testing. Refine methodology depending on needs of the business required
- Ensure that the framework is compatible with internal audit sampling and standards and develop a testing protocol required
- Work with the business to develop a process inventory. Prioritize testing of the process inventory based on business needs required
- Work with the business internal audit and risk to determine quality of internal controls. Plan quality assurance review projects and initiatives. required
- Excellent communication skills – both written and verbal required
- Solid understanding of life insurance market and products. Clear understanding of the workings of the insurance regulations. required
- Excellent legal research and reporting skills required
- Carry out regular reviews of the overall Branches operations, including corporate governance, and raise recommendations to senior management required
- Identify operational risks that potentially expose the Branches or RGA to regulatory or other legal sanctions, client complaints, adverse publicity or litigation or otherwise adversely affect the Branches or RGA required
- Review policies, rules and manuals. Work closely with senior management and in-house legal counsel in International Division Sydney Office and Global Head Office to assure that the Branches manage legal/litigation risks and controls legal matters and report all matters to Global Legal Services for legal decisions. required
- Demonstrated understanding of reporting requirements and practices required
- Experience in leading the response to regulator audit. Ability to manage, lead and mentor others required
- Project Management Skills preferred
- Knowledge and/or experience in life insurance/reinsurance industry preferred
What you can expect from RGA:
- Gain valuable knowledge from and experience with diverse, caring colleagues around the world.
- Enjoy a respectful, welcoming environment that fosters individuality and encourages pioneering thought.
- Join the bright and creative minds of RGA, and experience vast, endless career potential.
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