Assistant Manager, Compliance
Eastspring Investments, part of Prudential Corporation Asia, is Prudential's* asset management business in Asia. It is one of Asia's largest asset managers, with operations in 12 markets (including a US sales office) and just under 2,000 employees in Asia and about US$94.4billion (£58.1 billion) in assets under management (at December 31, 2012).
Eastspring Investments recently topped an annual ranking by size of retail fund managers in Asia.**
About half of total assets are sourced from third party clients including a wide range of retail and institutional investors. Eastspring Investments also manages the assets of life and pension products sold by Prudential Group in the UK, the US and across Asia.
Eastspring Investments operates in Japan, Malaysia, Singapore, South Korea, Taiwan, Hong Kong, the United Arab Emirates, Vietnam and Indonesia, and has joint venture operations in India, China and Hong Kong. The business also opened its US sales operations in 2012 and has announced plans to expand its fund distribution to Europe and the UK, subject to regulatory approval.
Together with Eastspring Investments, Prudential Corporation Asia (PCA) comprises the life insurance businesses of Prudential plc in Asia spanning 13 markets: Cambodia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand, and Vietnam. Prudential plc is a leading life insurer in Asia serving over 13 million customers across the region.
* Prudential plc, incorporated and with its principal place of business in England, and its affiliated companies constitute one of the world's leading financial services groups and has been in existence for over 160 years. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America
**Asia Asset Management Fund Manager Survey 2012, (Sept 2012). This annual survey ranks participating fund managers in Asia ex Japan, Australia and New Zealand ("region') based on assets sourced in the region as of June 30, 2012.
Reporting to the Director, Compliance, you will be a key member of a dynamic Compliance team assisting the management in providing compliance advice on and monitoring and managing compliance risks of funds and institutional mandates.
You will assist the Sales and Marketing team to carry out their responsibility for complying with all applicable regulations, internal polices and best industry practices.
Principal Accountabilities:
- Advise management and staff in a timely and effective manner on compliance issues relating to new customers, services, and fund products, with the objective of ensuring that the company’s marketing, sales and product operations are in compliance with relevant laws and regulations, policies and obligations.
- Assist and work with compliance team members to formulate compliance policies and standards, implement an updated and rigorous compliance monitoring program, and set up an effective and efficient compliance system, procedures and controls to ensure that the company’s marketing, sales and product operations are in compliance with relevant laws and regulations, Group and PCA policies, and contractual obligations.
- Help to develop and foster a strong compliance culture in the Company;
- Collaborate with the business units in providing outstanding customer service to internal and external clients.
Duties Responsibilities:
- Provision of advice on compliance issues emanating from sales and marketing activities carried out by the retail and institutional marketing team;
- Reviewing of marketing materials such as advertisements, presentation decks, factsheets and request for proposals;
- Due diligence of distributors (initial appointment of new distributors and periodic on-going review) and provide compliance inputs to the review/revision of distribution agreement and/or ad-hoc requests or initiatives from distributors;
- Assist in Product Approval process and review, and co-ordinate with product owners and external counsels on registration, renewal and review of fund prospectuses and annual reports;
- Provide feedback and participate in the due diligence and signing off process on new products, services and lines of business;
- Identifying new compliance risks and proposing counteracting measures, advising on compliance aspects of new work processes required, cross-border issues and overseas registration of funds or licensing as required;
- Work with internal or external (where required) legal counsels on review/revision of Investment Management Agreement, Investment Advisory Agreement and other client documentation;
- Assist in updating relevant compliance policies in Compliance Manual as well as compliance monitoring program;
- Participate in the implementation of new group compliance initiatives as assigned from time to time.
Background and Education Requirements:
Education / Training / Experience
- Graduate or post-graduate degree in Legal Studies/Business/Accountancy/Finance
- Minimum 5 years relevant experience preferably in a fund management/wealth management firm or possess relevant audit/regulatory experience
- Prior experience with consulting in regulatory compliance, public accounting or regulatory agencies would be a plus
Personal Attributes
- Able to work independently and is meticulous
- Possess excellent written and verbal communication skills in English and Chinese (for occasional review of marketing materials or documents in Chinese)
- Have strong inter-personal skills and ability to interact and work with different stakeholders
- Possess commitment and drive
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