Manager / Senior Manager, Compliance
Eastspring Investments, part of Prudential Corporation Asia, is Prudential plc's asset management business in Asia. It is one of Asia's largest asset managers, with operations in 13 markets (including offices in the United States and Luxembourg), just under 2,000 employees in Asia and about US95.4billion (£62.8 billion) in assets under management (at March 31, 2013).
More than one-third of Eastspring Investments' 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 11 markets across Asia: in China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Singapore, Taiwan, Vietnam and the United Arab Emirates; as well as a presence in the United States and Luxembourg.
Prudential is a leading life insurer that spans 13 markets in Asia, covering Cambodia, China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, The Philippines, Singapore, Taiwan, Thailand and Vietnam. Prudential has a robust multi-channel distribution platform providing a comprehensive range of savings, investment and protection products to meet the diverse needs of Asian people.
We are seeking to hire an accomplished individual to be part of our Compliance team. The individual will be a core member of the Compliance team of Eastspring Investments (Singapore) Limited, assisting the Head of Compliance to discharge the Compliance functions entrusted to the team. As a second line of defence, Compliance assists the CEO and Board of the Company in their oversight of Regulatory Compliance risks by providing assurance that there are proper and adequate Compliance arrangements in place to ensure compliance with all applicable financial sector laws and regulations, and group and regional policies.
The position will be based in Singapore and the incumbent shall report directly to the Director of Compliance. This is a unique opportunity to be part of a well-established fund management company.
Principal Accountabilities:
- Regulatory Risk Oversight – Assist business owners to identify and assess regulatory compliance risks, and provide management with an overview of the Company’s regulatory compliance risks;
- Regulatory Authorisation and Reporting – Monitors regulatory developments in relevant jurisdictions for relevant business functions/activities, and advising business on impact and implementation of appropriate compliance processes and controls;
- Policy and Procedures – Establish appropriate compliance policy and procedures for the Company, and provide assistance to business owners to implement robust compliance processes and controls to manage their regulatory compliance risks;
- Monitoring Program – Plan and conduct compliance monitoring tests and reviews on a risk-based approach to provide management with assurance that compliance processes and controls are being implemented effectively;
- Training – identify and carry out compliance training where required to ensure that all staff are aware of their regulatory obligations and are familiar with the Company’s compliance policies and procedures;
- Reporting – To provide timely management reports and escalation of regulatory compliance issues and incidents, and deal with audit/quality assurance/inspection queries/issues relating to Compliance function and regulatory compliance matters.
Duties Responsibilities
- Investment Guidelines Compliance
- Set up investment guidelines and restrictions in Charles River Compliance Module for new mandates / funds or revised investment guidelines/restrictions.
- Carry out quality assurance checks/reviews from time to time on the investment restrictions setup in Charles River and other monitoring platforms.
- Advise fund managers and internal customers on the interpretation of the relevant investment guidelines and restrictions.
- Participates in project to enhance the effectiveness and efficiency of investment guidelines compliance.
- Perform oversight of manual rules monitoring.
- Ensure that any active investment breach is properly followed up and reported including to client where required.
- Provide compliance reports and certification to clients on a periodic basis.
- Other Investment Compliance
- Advise on regulatory requirements and provide sign-off as internal control of investment business change processes including new market/instrument set-up, new broker setup, soft dollar/commission-sharing arrangements, and setting up of new investment mechanism or platforms e.g. dealing network.
- Advise dealing team on regulatory compliance issues relating to regional dealing services.
- Carry out review of dealing monitoring including best execution, timely execution, equitable treatment, conflict of interest
- Identify, plan and execute improvement/automation of monitoring/review processes
- Participate in projects relating to investment compliance advisory/monitoring/processes.
- Outsourcing and Delegation Oversight
- Advise on the regulatory requirements for outsourcing / delegation oversights
- Review the regular attestation received from delegates or outsourcing providers
- Participate in on-going due diligence on outsourcing / delegations related matters
- Advise regulatory requirements on outsourcing related matters.
D. Compliance Monitoring Program
- Conduct compliance monitoring program items as assigned.
E. General Assignments
- Perform other compliance tasks which may be assigned from time to time by supervisor to discharge the team’s Compliance functions e.g. assist in new product approval process.
Background and Education Requirements:
A. Education / Experience
- Graduate or post-graduate degree in Business/Accountancy/Finance.
- Minimum 5 years of relevant financial regulatory compliance experience preferably in an asset management company.
- Strong knowledge of Singapore Securities and Futures Act and regulations, MAS Code of CIS, Central Provident Board Investment Scheme and investment guidelines.
B. Personal Attributes
- Able to communicate effectively in English, both written and verbal.
- Mature, committed and has high drive.
- Possess effective inter-personal skills and ability to work with different stakeholders.
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