Compliance Manager (Singapore)

About the role

The role of Compliance Manager (Singapore Branch) works closely with the Head of Compliance who is based in the Head Office Isle of Man and the Singapore Chief Executive and Branch Manager to help foster and maintain a sound compliance framework. The role plays an integral part in assisting with the implementation, oversight, and monitoring adherence to Monument Re Group’s compliance framework.

This role is instrumental in formulating local compliance policies, processes, systems, and controls, reporting requirements, to ensure compliance with Singapore regulatory requirements whilst maintaining effective working relationships with the Monetary Authority of Singapore (MAS), compliance peers and regional staff.
The Compliance Manager (Singapore Branch) will have primary reporting line to the Head of Compliance in the Isle of Man and a dotted reported line to the Singapore Chief Executive and Branch Manager.

Responsibilities

Ensuring compliance by the Singapore Branch with all applicable laws and regulations, including those set forth by the Monetary Authority of Singapore (MAS) and other relevant regulatory bodies governing the insurance sector.
Act as the Singapore MLRO and Data Protection Officer.
Arrangement of and attendance at the Singapore Branch Governance Committee including minute taking.
Monitoring and tracking of all Singapore Branch regulatory submissions to ensure accurate and timely filing by Compliance and other functional departments.
Proactive monitoring changes in Singapore insurance laws and regulations and assessing their impact on the Branch’s operations and compliance framework and reporting to the Singapore Chief Executive on the actions required. This will include performing horizon scanning for upcoming changes in Singapore legislation and guidance.
Daily monitoring of MAS-net issued circulars and identifying actions required and circulation to relevant stakeholders and monitoring of actions.
Develop and maintain a professional and positive working relationship with MAS, leading the relationship on compliance matters.
Support management and colleagues with compliance advice and gap analysis, aiming to reduce complexity where possible.
Overall responsibility and the primary point of contact for regulatory inquiries and examinations including participating in regulatory examinations and inquiries coordinating responses and addressing any findings or recommendations with Singapore based entities i.e. MAS, LIA, ACRA, FIDReC.
Maintaining a documented analysis of the Singapore Compliance universe and the Annual Compliance Plan for the Singapore Branch.
Responsibility for the establishment and maintenance of compliance monitoring programs, including transaction surveillance (sanctions, politically exposed persons (PEP), crime screening and EDD/CDD policyholders) and provide recommendations where the need to report is identified to the Singapore Chief Executive and Isle of Man Head of Compliance, to include regular recommendations on identified actions to be implemented operationally to ensure AML compliance.
Responsibility for ensuring the financial crime framework, monitoring, and reporting is appropriate and operating as planned.
Develop, implement, and maintain compliance policies and procedures specific to Singapore Branch ensuring annual reviews are conducted.
Stay abreast of industry best practices and benchmark against peers to continuously improve the Singapore compliance program.
Design and deliver regular compliance training tailored to the Singapore operations, covering topics such as anti-money laundering (AML), know-your-customer (KYC) requirements and to ensure awareness of existing and new regulatory requirements and internal policies.
Overseeing the implementation of compliance controls and monitoring programs relevant to Singapore operations, such as fraud detection and prevention measures.
Supporting internal and external audits relating to compliance activities. Investigating and addressing compliance incidents related to Singapore activities, including regulatory reporting and remediation efforts, and providing recommendations to the Singapore Chief executive and Isle of Man Head of Compliance.
Lead to ensure that the Singapore Branch remains on track with its Annual Compliance Plan activities, commitments, and diarised reporting requirements.
Work with the Chief Risk Officer to promote and ensure regular compliance risk assessments and develop mitigation strategies.
Collaborate with other Group functions, such as legal and risk management, to ensure a comprehensive approach to compliance. Participate in Group Compliance projects and regular meetings.
Conduct periodic compliance reviews and audits to assess the effectiveness of controls and procedures.
Support Compliance involvement into acquisition projects, Compliance projects and other initiatives.

Role Requirements

5 years + experience working within a multi-jurisdictional Life Insurer or Re-insurer in Singapore.
Ability to keep abreast of regulatory change, understand and interpret regulatory requirements.
Experience in dealing with MAS and regulators.
Prior experience must include having worked with MAS on insurance or re-insurance regulatory matters.
A developing level of regulatory compliance experience undertaking analysis of regulation and providing input and opinions to Compliance peers and managers.
A deep understanding of financial crime risk and monitoring in a cross-border environment.
Strong IT skills and experience in using MASNET and MAS Tx.
Ability to work under pressure and manage stakeholder requests with own workloads.
Strong report writing competencies with the ability to summarise effectively.
Relevant recognised Compliance and MLRO qualifications or equivalent such as ICA

Location

Singapore

Closing Date

22nd August 2025

Equal Opportunities Statement

Monument are an equal opportunities employer 

Email:

careers@monumentregroup.com

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