Job Purpose:
This role is accountable for managing Fraud programs and carrying out Market Conduct Investigations regarding alleged misconduct or violations. The key responsibilities include: (i) investigating all reported and suspected fraud incidents, misconduct, or breaches of policy and procedure, along with timely reporting; (ii) working with distribution channels and relevant stakeholders to set up appropriate controls and monitor to ensure mitigation of Market Conduct risks; and (iii) maintaining and implementing Fraud programs throughout the company; This position requires strong communication and collaboration skills with individuals at all levels of the organization to identify gaps, resolve issues, and recommend remediation strategies for the business.
Major Accountabilities:
End-to-end investigation
- Manage and oversee the investigation job and investigation team members to perform effective investigation into all known or suspected Market Conduct fraud incidents from all distribution channels, including but not limited to handling, remediation and prevention of fraud risks.
- Oversight, review and effective challenge the control monitoring and investigation performed by the 1LoD, as well as provide Compliance's advice for 1LOD operational processes and business initiatives
- Identify regulatory and operational gaps, analyse trends, make meaningful recommendations without hesitation and develop initiatives to prevent, detect, investigate and respond to fraud-related incidents.
Fraud program, oversight and training
- Implement and oversee to ensure effective operation of Fraud Risk programs across Sun Life Vietnam.
- Collaborate with relevant stakeholders to ensure that the sales channels are aligned to and compliant with applicable regulations and regulatory requirements.
- Participate in the Fraud program for oversight and effective challenge of the 1LoD management of fraud risks, as well as review and provide Compliance's advice for 1st line operational processes and business initiatives.
- Adopt, localize policies and operating guidelines issued by Enterprise Compliance; review, revise the local operating guidelines to reflect regulatory updates and business operation changes.
- Perform virtual, in-class training, sharing sessions and materials to enhance compliance awareness and best practices for targeted groups and review Compliance related training material to sales channel.
Reporting and others
- Ensure effective communication and provide timely report of investigation progress and results upon receipt of case escalations, as well as throughout the investigation process.
- Effective and timely Perform reporting related to Market Conduct, Fraud cases/issues to relevant stakeholders as required.
- Performs all tasks and projects that may be assigned by Chief Compliance Officer from time to time.
Specialized Knowledge/Skills :
- Strong knowledge of insurance distribution processes, products, and risks
- Excellent in investigation on agents/third parties and reporting writing skills.
- Fluent in written and spoken English.
- Communicates effectively to a wide variety of audiences at all organizational levels
- Works effectively with others who have different perspectives, backgrounds and/or styles
- Positively leads or influences other team members to achieve team and individual goals.
- Inspires other team members to accept non-traditional ideas by leveraging effective new initiatives and overcome objections.
- Excellent in Microsoft Word, Excel, PowerPoint, and Outlook.
- Well digital knowledge is preferred.
- Familiar with data analysis methodology and relevant practical experience is a plus.
Education and Experience:
- University graduates, preferably majoring in law/insurance/accounting/audit and/or University of Public Security.
- Prior experiences (8 years) in Compliance or Legal or Risk management or investigative work functions in insurance, banking, finance, accounting, or audit is an advance. Experience in Agency/Distribution Compliance/Fraud Investigation is preferred.
- LOMA certificate (FLMI/ALMI/AIRC) is preferred.
